About $1.38 billion in commercial real estate traded hands in recent weeks
In the past couple of weeks, the multifamily sector has completed the most acquisitions, according to data by Real Capital Analytics (RCA). Approximately 29 transactions of more than $10 million were completed in the United States, totaling $1.38 billion.
The largest deal completed was the sale by Equity Residential of Archstone Crystal Towers in Arlington, Va., to Dweck Properties for $322.25 million. The deal is believed to be the highest price for a single multifamily property to trade in the Washington, D.C., region. Equity Residential purchased the 912-unit, two-tower property as part of its acquisition of 60 percent of Archstone.
The multifamily sector had the strongest performance during the first quarter. Data from Reis Inc. records vacancy rates at