MILWAUKEE, Jan. 30, 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 Milwaukee apartment market will benefit from modest improvement in both vacancy and 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. Milwaukee keeps its position at No. 37 this year.

"The Milwaukee apartment market will experience stronger fundamentals in 2006, stemming from a third consecutive year of economic expansion and the resulting increase in renter demand," comments Greg A. Moyer, managing director of and regional manager of the Milwaukee office. "The investment market is expected to pick up during 2006, as properties in Milwaukee offer more attractive yields than other major metros in the Midwest, and buyers are keeping their eyes on redevelopment efforts downtown."

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

• Asking rents will gain 1.6 percent to $711 per month this year.
  
  Many owners are starting to pull back on concessions, which will push up effective rents by 2.5 percent this year to $682 per month.
   

• Vacancy is expected to decrease 20 basis points this year to 9 percent.
  
  Modest employment growth will keep housing demand robust, but apartment vacancy improvement will be hindered by relatively low home prices in the area.
   

• Milwaukee employers will add 19,000 jobs in 2006, a 2.3 percent increase.
  
  Most of the new positions will be added in the professional and business services sector, which will help to boost demand in the Class A sector.
   

• Developers will deliver 450 units in 2006, after adding 275 units to the Milwaukee market last year.
  
  Nearly half of the units will be concentrated in the City West submarket, an area becoming known as a more affordable alternative to living downtown.
   

• Investors should consider properties in cities proposing large-scale redevelopments, such as Brookfield.
  
  Prices have appreciated at a much lower rate than the overall market, giving buyers an opportunity to purchase buildings before redevelopment efforts boost local property values.