Apartment sales continued to remain active. In the second quarter there were six deals for $115.8 million at a mean price of $60,000 per unit and a mean cap rate of 6.7%. The dollar total was the highest in years. The low mean cap rate pulled the rolling 12 month cap rate down 20 basis points to 7.7%. The leading sale of the quarter was the 408-unit Lincoln and Wolfchase Apartments in Cordova, which traded in June for $27.25 million ($66,800 per unit). Lincoln at Wolfchase Associates LLC sold it to the Archon Group.