Multifamily development is expected to expand significantly this year -- led in large part by REITs, according to Green Street Advisors. Green Street estimates REITs will launch close to $1 billion in new apartment projects in 2010. From 2011 to 2015, "apartment REITs may generate the best property net operating income growth that they've seen in a very long time, maybe ever," said Haendel St. Juste, a REIT analyst with Keefe, Bruyette & Woods.

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