Apartment transactions fall 8% in August


Apartment transactions fall 8% in August
Sales of individual properties rose 11%, according to an MSCI Real Assets report, as observers see optimism for volume to pick up in the coming months. Dive Brief: Apartment sales volume fell 8% year over year to $12.5 billion in August, according to a report that data firm MSCI Real Assets shared with Multifamily Dive. However, sales of individual properties, a gauge of sector health, rose 11% YOY to 11.2 billion. At the same time, portfolio activity declined by 64% YOY in August to $1.3 billion, which pulled down overall sales. In August 2024, KKR closed a deal to acquire 19 purpose-built student housing properties from BREIT for approximately $1.64 billion, representing 46% of the total volume that month. Even without that deal, sales would have shrunk in August. The Real Capital Analytics commercial property price indexes for multifamily ticked up 0.2% YOY, according to MSCI. A year ago, prices were declining at a rate of 6% annually. Cap rates have remained flat at 5.5% since August 2024. ...more RSK: Mixed news...but housing near University and College Campuses is going strong.
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Apartment sales volume fell 8% year over year to $12.5 billion in August, according to a report that data firm MSCI Real Assets shared with Multifamily Dive. However, sales of individual properties, a gauge of sector health, rose 11% YOY to 11.2 billion.
At the same time, portfolio activity declined by 64% YOY in August to $1.3 billion, which pulled down overall sales. In August 2024, KKR closed a deal to acquire 19 purpose-built student housing properties from BREIT for approximately $1.64 billion, representing 46% of the total volume that month. Even without that deal, sales would have shrunk in August.
The Real Capital Analytics commercial property price indexes for multifamily ticked up 0.2% YOY, according to MSCI. A year ago, prices were declining at a rate of 6% annually. Cap rates have remained flat at 5.5% since August 2024.