The apartment industry remains abuzz in the wake of last week's announced merger of Colonial Properties Trust and Mid-America Apartment Communities Inc. The move will create the second-largest U.S. multifamily housing REIT with over 85,000 rental units in 285 communities, ranking behind only Equity Residential. The newly merged company will have a total market capitalization of $8.6 billion. Analysts say the deal demonstrates that there is an appetite for apartments in the Sun Belt, which has experienced above-average employment and population growth.
Read more of today's Industry Insider.