Multi-residential development and transactions accounted for a significant share of U.S. real estate investment in 2015 during a year when many of the nation's large urban markets enjoyed declining vacancies and rising rents.

U.S. housing starts were up significantly in June with building permits surging to a near eight-year high. Up 9.8 per cent from May to an annual pace of 1,174,000 units, multi-unit buildings were the driving force behind the increase in construction activity.