JACKSONVILLE, Fla., Jan. 27, 2006 - Real Estate Investment Brokerage Company, the nation's largest real estate investment brokerage firm, recently released its National Apartment Research Report for 2006, which indicates the Jacksonville apartment market will benefit from increased employment opportunities and strong rent growth.

Also included in the report is the firm's annual National Apartment Index (NAI), a snapshot analysis that ranks 42 apartment markets based on a series of 12-month forward-looking supply and demand indicators. Jacksonville moves up one spot this year to No. 23.

"Jacksonville's apartment market will gain momentum this year, as healthy job growth leads to rising demand and stronger fundamentals," comments Steven M. Ekovich, first vice president of and regional manager of the Jacksonville office. "The north central submarkets, including Greater Arlington and Southside/University, will likely continue to be hot investment areas. These submarkets have a large number of available smaller Class B/C properties that are popular with local private investors."

Following are some of the most significant aspects of the Jacksonville Apartment Research Report:

• Strengthening market conditions will enable owners to enjoy accelerated rent growth.
  
  Asking rents will increase 3.2 percent to $772 per month, while effective rents advance 5 percent to $749 per month.
   

• Vacancy in Jacksonville will decline 50 basis points to 5 percent by year end.
  
  The growing economy and increasing demand for rental units will support the improvement in occupancy rates in 2006.
   

• Jacksonville employers will expand payrolls by 18,000 jobs, or 3.6 percent, in 2006.
  
  Many of the positions being added are in the construction and services sectors, which will help boost demand for apartment units in the coming year.
   

• Developers will deliver 1,500 units in 2006, up slightly from the 1,200 units completed in 2005.
  
  The majority of new apartment units are expected to be delivered in the Northwest Jacksonville and Southside/Bay Meadows submarkets.
   

• Transaction activity is forecast to rise, especially among institutions, as the market continues to strengthen.
  
  Strong upside potential exists in the Lake Shore and Orange Park submarkets, where prices have remained relatively flat in spite of improving fundamentals.