GlobeSt.com reporters Barbara Jarvie, Bob Howard, AlexFinkelstein and Jennifer Duell contributed to this article.

NEW YORK CITY-Undervalued. That's how one expert characterizesthe multifamily market. But the truth of the statement is beingborne out in markets around the country as experts tell GlobeSt.comof the growing strategies being hatched with that sector in mindand the fundamentals giving rise to those plans. Naturally, somemarkets are stronger than others; some have a deeper hole fromwhich to climb. But the direction across the board bodes well forthe sector nationally.

Taking a sneak peek at next week's UpClose feature, E. DavissonHardman, managing director and head of Morgan Stanley's US realestate investing operation, reveals that multifamily will play alarger role in his firm's investment strategies. What he terms anundervalued sector will continue to gain by such macro-economicfactors as rising interest rates, putting the squeeze onsingle-family home purchases; reduced supply; and a growingemployment base. In a series of special reports filed from aroundthe country, GlobeSt.com reporters are chanting the same verse.