The Dallas-Ft. Worth's hottest ticket comes with overalloccupancy in the mid-90s, above-average per unit selling and rentalrates, plenty of product and ample interest from investors insideand outside the state. The bread and butter of the multifamilyarena are older properties, which are regularly changing hands asprivate investors look for a safe haven for their capital.

"This year, prices overall have been up," Sam Lewis, Grubb &Ellis Co. vice president in Dallas, tells GlobeSt.com. The firm'sDFW multifamily team has hawked $130 million, with Lewis aloneaccounting for 10 of those transactions. The dominant player hasbeen class C properties attracting institutional and private buyersalike, willing to pay in the mid to upper $20,000 per unit andallowing enough leeway to invest more money via upgrades.

Can't say what's going to happen now, Lewis emphasizes. Thephones are ringing less than they were before Sept. 11. But Lewisremains optimistic because "activity has slowed, but it hasn'thalted."