![The Morris (Nashville, Tennessee)](https://hamiltonzanze.com/wp-content/uploads/fly-images/9734/Morris_header_DJI_0087-390x390-c.webp)
Nineteen-story multifamily high-rise expands company’s Music City portfolio.
ReadApartment sales rose 68% year-over-year in Q1 2015, hitting $68 billion, according to a recent report from Real Capital Analytics. Apartment prices also increased, and are now 21% higher than the previous peak prices seen in 2007.
As prices and sales volume rose, cap rates fell 0.3% year-over-year to 5.9%. Mid- and high-rise apartments saw the greatest decline, down 0.8% to a 4.7% average cap rate. Garden-style assets remained relatively flat, dropping just 0.3% to 6.2%.
Read more at MultiFamilyExecutive.com