Commercial Real Estate Book - Buying Book Preview

and at least two elevators. They are usually found in large markets and are professionally managed, with 100 or more units. • Mid-Rise Apartments – These contain 30 to 110 units and are 5 to 9 stories. They are often in urban locations and sometimes have an elevator. • Garden Apartments – These are almost always located in suburban areas and are usually 3 to 4 stories, with 50 to 400 units, surface parking, and no elevators. • Walk-Up Apartments – These can be anywhere from a 2- to 6-story complex without an elevator. • Special-Purpose Housing – This is anything that targets a specific part of the population, and includes complexes such as senior housing, student housing, and low-income housing.


There are five main types of hotels:

• Full-Service – These are stacked with guest services and top amenities. Those can include top restaurants, conference rooms, convention space, spas, shops, and gyms. These are usually located in the central business district or downtown areas that see the most tourists, for example the St. Regis, Westin, and Hyatt. Their success usually depends on the quality of their on-site amenities. • Limited-Service – This is a step down in amenities and service but they still include meeting rooms, high-end pools, and gyms. These may not have on-site dining or convention areas like full-services hotels do. Buildout operations are more predictable than full-service hotels on


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