Matthew Fitzgerald, regional manager for the California-basedMarcus & Millichap, tells GlobeSt.com that "Dallas is on theradar screen for most of the institutional investors."Top-of-the-line properties are bringing roughly $80,000 per unit,low in comparison to other major metropolises. "$80,000's not goingto get you a class A unit in LA," he says. Los Angeles multifamilyproperties are drawing better than $110,000 per unit while NorthernCalifornia holdings are fetching over $200,000 per unit, hesays.

Fitzgerald's team is right on the mark for where the DFW regionhad been and where it's going. In the Marcus & Millichapmidyear report, first-quarter sales were down to $98 million versus$232 million for the same period in 2000. But, sales will pick upas the year's end draws closer. The first quarter's limited class Asales caused the average per unit price to dip to $41,000 asinvestors bought older properties with an eye on renovation andrent hikes to bolster coffers, according to the report. "The tidehas turned and the outlook is positive," conclude researchers.

Just last week, the high-ticket sale of the 449-unit Phoenix inDallas' Midtown section recorded the highest per-unit draw of theyear, according to brokers. The final price is closely guarded, butinsiders claim it definitely brought more per unit than the highestyear-to-date sale for the 908-unit Post Shore in Las Colinas, whichhas been pegged upward of $70 million or better than $110,000 perunit.