Apartment sales, on the other hand, soared in the second quarter with eight deals—as many as in all of 2009, 2010, and 2011 put together. The properties sold for a total of $87 million, at an average price of $43,000 per unit, and a mean cap rate of 7.9%. This pulled the rolling 12 month cap rate up 180 basis points to 6.8%, a trend that implies that less prestigious properties suddenly have started to sell. In the quarter’s leading deal, the 496-unit Haven at Oak Forest in Spartanburg sold for $27.1 million ($54,700 per unit) in April. Johnson Development Associates sold it to The Praedium Group.