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February 28, 2018  

MARKET SPOTLIGHT: Phoenix-Area Apartment Properties

Strong rent growth is attracting investors. Asking rents have climbed at least 6% annually since 2015. Last year’s 6.8% increase lifted the average rent to $994, according to Colliers International.The investor demand pushed capitalization rates down slightly last year, to 5.5%, Colliers said.Corporate expansion is another plus for buyers. But Green Street Advisors also noted two risks: low barriers to entry and competitive single-family...

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