Syndicates Said to Prefer Rental Investments
Apartments are the first choice of 13 of the 20 top public syndicators in the United States, and San Diego is one of the most popular markets, according to a study by Grubb & Ellis Commercial Brokerage Services.
“Demand for apartments remains strong in most areas of the country, and there is no sign of severe longterm oversupply,” Jon Busse, a Grubb & Ellis investment specialist, said in San Diego.
He added that San Diego, where investment activity has been very strong since 1983, is one of the best performing apartment markets in the nation.
“Apartments are San Diego’s most popular real estate investment,” Busse said, “accounting for 57% of all dollars invested in local real estate. Last year, over 252 apartment projects sold (there) for a total consideration of $596.4 million.”