Apartment sales totaled $5.5 billion in May, representing the highest monthly total this year and a year-over-year increase of 15 percent, according to Real Capital Analytics. Garden property transactions were particularly impressive with a year-over-year increase of 45 percent.
Highlighting a a notable increase in distressed and portfolio sales was Gaia and Starwood's purchase of a 32-property portfolio and CalSTRS' 90 percent acquired interest in LCOR and its 14 apartment properties.
