"From an investment standpoint, the volume of transactions isoff from a couple recent years in the past; although, nationalinterest (in the Puget Sound area) is good," says Frank Bosl, anapartment specialist with the Seattle office of CB Richard Ellis."There's good interest from both in-state and out-of-stateinvestors from syndicates, to REITS, to institutionaladvisors."
Those past years Bosl refers to are 1998 and 1999. According toCB's research, apartment sales in Puget Sound during the first sixmonths of each of those years flirted with $500 million. Then thefirst half of 2000 turned dismal, with sales falling to $202million.
The first half of this year then bounced to $323 million. Thereport continues by saying if the remainder of 2001 stays strong,sales could total $800 million for the year.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
