Industries Commercial Real Estate

Sale of View 14 apartment building fetches record price

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The multifamily sector continues to be the shining star in commercial real estate.  A recent deal in Washington, D.C., broke the record in that market for the highest price per square foot for the sale of a Class A rental building.  According to the Washington Business Journal, UDR Inc. — a Denver-based apartment owner with 16 properties in the region — bought the 155,000-square-foot View 14 for $104 million, or about $670 per square foot.  According to a market report from Cassidy Turley, vacancy in apartment buildings is at its lowest level in a decade.

 


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