Did you know that Atlanta's Gables Emory Point was the nation's 7th largest single-asset apartment sale of 2017?

After running the numbers with Yardi Matrix data, we’ve compiled a list of the top apartment-building sales to close in 2017. As opposed to what the office investment sector usually focuses on – mainly single-asset sales, apartment building investors seem to prefer multi-asset portfolios. Our round-up includes both the top portfolio sales and the top single-buildings transactions to hit the market last year.

Key highlights

The $199 million sale of Gables Emory Point to Blackstone was the nation's 7th largest single-building sale and 20th sale nationwide portfolios included;

Properties in Georgia were part of both bulk portfolio sales and single-asset sales last year, coming up in two top 5 sales - Mapletree US Management's $1.6 billion cross-market portfolio and David Werner + Carlton Assoc.'s $510 million portfolio;

The state of Maryland had the most contenders, with a total of 50 multifamily properties changing hands in 2017;

NYC is conspicuously absent from the list, the only top tier sale to go through in the state on NY was in Bellport for the Atlantic Point apartments, which went for $207 million to Investcorp;

Mainly through its affiliate LivCor, Blackstone was the busiest investor, closing 7 deals and shelling out a total of $2 billion in multifamily investments last year;

"We expect GDP to grow only about 2 percent in 2018. Job payroll job growth is likely to remain at the recent 1.3 percent to 1.5 percent annual pace, while personal income growth, the principal fuel powering rent trends, accelerates only moderately to the 4.0 percent to 4.5 percent range." Doug Ressler, for COMMERCIALCafé

For more details and the complete tops, head over to: https://www.commercialcafe.com/blog/2018/02/15/priciest-apartment-communities-sell-2017/