The Real Deal Miami

Apartment complexes struggling

January 14, 2009 05:42PM

Apartment buildings are the latest sector to be hit by the troubles in the commercial real estate industry. The recession and job losses are making it hard for landlords to raise rents and meet revenue projections for their buildings. Converting rent-controlled units to market rate has been a particular problem in New York, and converting apartment buildings to condominium buildings has been a challenge for Miami landlords.