The apartment sector's recovery is beginning much faster than Green Street Advisors originally anticipated, according to Andy McCulloch, senior analyst -- by as much as two quarters. He attributes that to a recent and widespread improvement in consumer sentiment and job growth. Assuming that growth continues, "apartment fundamentals are at the beginning of a good run," he said. One caveat for investors, McCulloch offers, is to watch capital expenses, which the market tends to underestimate.

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