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Apartments Are Worth Buying, Judging from KKR’s $2 Billion Deal With Lennar

Bill Alpert
·3 min read
Apartments Are Worth Buying, Judging from KKR’s $2 Billion Deal With Lennar

The announcement of a large purchase by private-equity firm KKR adds to evidence that apartment values are bottoming. KKR will pay some $2.1 billion for 18 developments built by Lennar that spread from California through Texas, Colorado, Georgia, Florida, and North Carolina, to New Jersey. Wedbush analyst Richard Anderson says that real estate investment trusts that focus on apartments are seeing the light at the end of the Sunbelt tunnel.

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