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October 2015 Archives

Apartment complex transaction may exceed $5 billion or $6 billion

A pending commercial real estate transaction may involve between $5 billion to $6 billion changing hands. This deal involves a number of large investors including Blackstone Group LP vying for an apartment complex that contains 11,200 units. "There's been a tremendous demand for multifamily as homeownership rates have declined," said on real estate debt analyst. However, there also is a challenge for the new owners to keep rates for the tenants affordable in order to achieve success.