(To read more on the debt and equity markets and themultifamily market, click here.)

BETHESDA, MD-GlobeSt.com has learned that Meridian CapitalGroup's local office is working on a multifamily acquisition in thesuburbs that is "between the contract and closing stages," saysAndrew Weiss, managing director of the office here. The firm israising both debt and equity. It is an older apartment projectpurchased at below replacement cost but at an aggressive cap rate,Weiss says. "The buyer will put money in and then raise theyield."

In general, multifamily's performance in the DC market continuesto be very strong. Like many other markets, the DC multifamilysector has benefited from the high number of condo conversionprojects, Weiss observed. "When supply is reduced, naturally, theremaining inventory becomes more valuable."

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.