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    Berkadia arranged the financing on behalf of the developer, HHHunt Corp. First units will be available for occupancy by summer of 2018, and the community will be completed next summer.

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    CVG Properties Inc. acquired Carlton Heights Villas, a 70-unit apartment community in the neighborhood of Santee. The property had an occupancy rate of 98.6 percent as of last month, following a major makeover.

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    Decelerating rent growth and stagnant or falling occupancy rates suggest that developers can no longer expect the same returns experienced in recent years. As a result, development will likely slow down. According to Yardi Matrix data, these 10 markets are expected to see the greatest increases to supply this year.

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    The development will be constructed under the company's new PMGx multifamily housing division, which comprises “social living” rental communities that cater to professionals who seek a more community-oriented lifestyle.

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