“Most of the activity that we’ve seen has been from larger groups, institutions, buying newer assets,” Jon Siegel, co-founder and chief investment officer at Bethesda, Maryland–based apartment owner RailField Partners, recently told Multifamily Dive. “I still feel like the value-add space and the older stuff is still behind on that, and still a little frozen. I think next year, we’ll see more activity throughout the spectrum of multifamily.”