From the November issue: The market for big packages of multifamily buildings may have less sex appeal than the fancy condos adorning Billionaires’ Row, but the sector is going strong. Institutional investors, family firms and affordable-housing players are all increasingly competing to get in on the action.
Speaking to that appeal was last month’s blockbuster $5.3 billion purchase of the sprawling apartment complex Stuyvesant Town-Peter Cooper Village by the Blackstone Group and Ivanhoe Cambridge. But while that deal captured headlines, there are many others a notch, or several notches, just below. [more]