High-rise vs. Garden Style

[Charles Soper]

A broker recently sent me an OM for a 100+ unit 7 or 8 story high-rise apartment building.  I’ve not stopped to consider the major differences in this style of property vs. a garden style community of multiple buildings and maybe 3 stories at max.  Does anybody have experience in high-rise buildings that might be able to advise on what the major underwriting concerns would be vs. garden style?

[Steve Hall]

@Charles Soper I have no experience with high-rise buildings, but just a few things popped into my mind if I were considering purchasing one:

1) Code. Specifically fire code; fire escapes, fire suppression systems, stairwells, doors, etc.

2) Insurance costs.

3) Elevators.

4) Parking.

5) Security.

These are over and above what I would already be looking at with a single story garden style complex.