A flurry of high-profile property sales has made Dallas-Fort Worth the country’s top apartment investment market.

Almost $16 billion in D-FW apartments changed hands in the first nine months of 2021 — 9% of the total U.S. apartment investments, according to a new study by CBRE Group. North Texas rental sales were more than twice the volume of the first three quarters of last year.

Atlanta and Phoenix trailed behind with more than $10 billion in sales each.

Houston and Austin were also among the top 10 investment markets.

Sales this year of several large portfolios of rental communities and pricey high-rise properties made D-FW ground zero for apartment buys.

“The significant increase in volume in D-FW is a result of exceptional property-level fundamentals and a business-friendly environment that continues to promote job growth in the region,” said Danny Baker, CBRE executive vice president. “The long-term growth trajectory indicates D-FW is — and will remain — one of the best apartment markets in the country.”

Apartments have been near the top of the shopping list for U.S. real estate investors this year. So far in 2021, almost $179 billion in properties have changed hands, and purchases this year are expected to top 2019′s record of $193 billion, according to CBRE.

Net apartment leasing in the D-FW area reached an all-time high in the third quarter and rents were up by more than 13% year-over-year.

The D-FW ranked third nationally in third-quarter apartment leasing, behind New York and Houston.

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