Southern California is a ‘Mixed Bag’

“Despite obstacles, basic multi-housing market fundamentals in San Diego have remained strong,” Grubb & Ellis reports. Area vacancies in September 2008 were at a miniscule 2.3 percent, down from 2.7 percent a year earlier (compared with a national average of 12 percent). Rental rates peak in the area at an average of $1,772 per month in the North County Coastal market, to an average of $1,074 in East San Diego.San Diego multifamily transactions have been concentrated around distressed or bank-owned properties, plus a few well-located sites. Recent deals include:• Bella Terra, 460 units, sold by RREEF to R&V Mgmt. for…

New Orleans/Gulf Coast Stalls

nt (Shaun Donovan, New York City’s former commissioner of Housing Preservation and Development) who understand rental housing, and are eager to make it a reality, says Greer. “There are a large number of people in our industry who are celebrating.”To comment, e-mail [email protected]

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