Apartment Development Heats Up on U.S. Coasts

Article by Michael Corkery via the RealEstate Journal

Many multifamily real-estate investment trusts have been ramping up their development pipelines, but increasingly are building in only a handful of U.S. cities along the coasts.

About 96% of the new apartments being built by REITs at the end of the fourth quarter were concentrated along the East and West coasts. That compares with about 87% in the fourth quarter of 2004.

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