Thank you for sharing!

Your article was successfully shared with the contacts you provided.

DENVER-Archstone Communities, the nation’s second-largest multifamily REIT, is posting leasing rates that surpass absorption rates by 18% and rental rates 6% ahead of budget at its new apartment communities scattered across the country.

The Denver-based REIT says the hardy lease-up rate is a result of a strategy implemented five years ago to concentrate development in markets where it is difficult to initiate new projects. A company statements says it has succeeded in gaining a “solid, strategic presence in some of the nation’s top markets, including California, the Washington, D.C. area and the greater Northeast.”

During the third quarter, Archstone has put $494.3 million of new development communities in lease-up, of which $280.6 million, or 57%, are now better than 94% leased.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


GlobeSt. APARTMENTS Fall 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.