Fannie Mae, drawing on data from Real Capital Analytics (RCA), reported recently that multifamily investment sales have spiked during 2011, reaching $13.9 billion during the second quarter of 2011, or more than one and a half times as much as the first quarter 2011 total of $9 billion. The second quarter sales figure is also a 132 percent increase compared with the same quarter in 2010. RCA also reported that overall cap rates fell slightly to 6.60 percent compared to first quarter’s 6.65 percent. Of the $13.9 billion in apartment transactions, $3.0 billion was related to distressed properties. Read More…