Dallas–Axiometrics Inc. released a research report today that shows the national apartment market continuing to heat up in May, with effective rents increasing 0.7 percent from April levels.

Washington, D.C.–The U.S. Green Building Council announced that LEED Volume Program for Operations & Maintenance is now available for existing green building projects.

The MHN Excellence Awards recognize the multifamily industry’s most noteworthy people, companies and properties. The winners will be selected by a panel of judges representing expertise across all multifamily disciplines.

Howard Hughes Corp. acquires $117.5 million interest in Woodlands master-planned community; Phillips Development and Realty closes a $3.7 million refinance on a 129-unit community; and M West Holdings acquires a 43-unit apartment property in California.

Washington, D.C.–Rep. Gary Miller (R-CA) plans to introduce a bill that would replace the GSEs with a new, consolidated entity whose function would be very much like Fannie and Freddie.

San Diego–Higher occupancies and rising rental rates in the Southern California apartment market are creating a significant demand for investment sales expertise, prompting Jones Lang LaSalle to hire big guns.

Elizabeth. N.J.–The opening of Waters Edge Crescent marks the completion of the Elizabeth’s 14-year initiative to demolish approximately 650 distressed public housing units and rebuild the same number of newly constructed modern affordable housing units.