A couple of interesting points were made on page 10 of the February 2010 issue of Units Magazine relating to private investment in apartment acquisitions.  For one, the article noted that private investors accounted for 82 percent of the dollar value of apartment acquisitions during the first three quarters of 2009, indicating potentially the clearest signal yet that prices have adjusted to levels that can be sustained by current operations.

Our experience has been similar; here are a few things that have stood out to me:

• Its nice to see the private buyers being able to purchase value added properties without having to compete with the institutional investors like years past.
• I have seen the apartments in our area sold to private groups and I don’t know of any that have gone to institutions.
• We are currently looking to purchase a local apartment complex.
• A couple sites that have been for sale that attempted to purchase ended up being sold to private groups either locally or out of state.

Hopefully this trend continues through 2010!

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