When it comes to multifamily, we can count on three trends in 2014: lots of deliveries, a return of Class-A sales, and a little bit of softness in some markets. (And not just our post-Thanksgiving tummies.)

Institutional Property Advisors director Scott Lamontagne (snapped Thursday at an IPA Texas Client Appreciation Dinner at Morton's in the CBD) says core assets will be coming back into the transaction market as cap rates remain compressed, despite the plethora of deliveries expected. Value-add is still a market segment working in every Texas market, Scott says. And CMBS loans start rolling over in 2014 in a big way, which should create additional sales supply across all classes. (We've written a play about it called CMBS Cometh.)

We learned about some recent IPA deals including the sale of the 220-unit The Creek on Park Place apartment complex in the Mid-Cities. IPA Texas repped the seller and leveraged its national platform as the buyer (a 1031-exchange investor from the West Coast) sold an apartment property in California with Marcus & Millichap and reinvested the proceeds in Texas. IPA Capital Markets associate director Brian Adams arranged the financing. More than $2.1M in renovations and improvements were completed at the complex during the last 24 months.