American Campus Communities begins a $97.6 million mixed-use development at Drexel University; Marcus & Millichap lists a 137-unit asset in the Bay Area; and KeyBank provides $44 million in Freddie Mac funding for three communities.

National effective rental rates were down 1.05 percent during the fourth quarter of 2011, compared with the previous quarter, according to the apartment market research specialist Axiometrics Inc.

Mike Mueller, a multifamily technology entrepreneur, has acquired CallSource Inc.’s multifamily vertical.

Construction is now underway on the Fountains at New Bern Station, a 208-unit luxury rental community in Charlotte, N.C.’s historic South End.

Steadfast Income REIT acquires its second asset in Iowa; Pembrook arranges rehabilitation financing to the tune of $32 million; and Marcus & Millichap completes a $2.2 million sale at a 8.1 percent cap rate.

With the prevalence of online review sites, there’s a good chance that your building is mentioned–either for the better or worse. But that doesn’t mean you have to passively accept bad reviews.

According to a report released by CNT Energy and the American Council for an Energy-Efficient Economy, multifamily building owners could keep approximately $3.4 billion in their pockets annually through energy efficiency upgrades.

Scottsdale-based MC Cos. and Phoenix-based Clark-Wayland Builders LC have formed a joint venture to develop apartment properties in both Phoenix and Tucson.

Campus Apartments now allows residents to pay rent on its online account portal SmartClick via Facebook Connect.

Charles Dunn Company completes a $17 million sale in Los Angeles; SL Green closes a joint venture acquisition with Stonehenge Partners; and NorthMarq Capital arranges a $20.1 million mortgage/bridge loan for a seniors housing portfolio.