Multifamily developers are still buying land for new apartment projects in the Bayou City despite the downturn in oil prices.
“We are still seeing land transactions, although the pace has slowed down overall in the market,” said Tom Dosch, a transaction manager with ARA Newmark. The Houston-based commercial real estate brokerage had the quickest start to the year for multifamily land transactions, even as oil prices slipped to near six-year lows earlier this year, Dosch said. [Houston Business Journal]
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