Another major signal of the lackluster multifamily market: One of the biggest homebuilders in the U.S. is selling thousands of luxury apartments in a move that will likely generate billions of dollars.
Who is going to buy 11,000 luxury apartments?
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Fishing for a govt buyout? Depends where located, and so on. Be fun if govt got some and converted to low income housing.
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One way to deal with rising interest rates is to sell assets and pay down debt.
As to who is buying luxury apartments, you would think value investors like Berkshire Hathaway would be taking a look. Also all those real estate investors who are buying up rental properties.
Not Berkshire. They are only interested in ongoing businesses with a history of profitability. That is not what is being sold.