The multifamily sector saw 18 properties sold, the same total as
2013, with six properties sold in the fourth quarter. Total dollar
volume ended the year at $95 million, falling by 21% from 2013’s total, with $14 million sold in 4Q14, a decrease of 14% from 4Q13. Price per square foot averaged $156, an increase of 19% from 2013’s average, with the fourth quarter averaging $134, down 2% from 4Q13’s average. Cap rates fell 32 bps on the year, to 6.5%.