Ground Breaks on Unique Affordable Seniors Project in South L.A.

Compton, Calif.–The community will be home to financially challenged elderly residents with physical disabilities.

Washington Green Communities Retrofit Loan Fund Launched

Olympia, Wash.–The goal of the fund is to encourage the addition of sustainable features.

Affordable Apt. Community to Break Ground in Escondido, Calif.

Escondido, Calif.–The apartment community will be built in a neighborhood plagued by street gangs, drugs.

DEAL OF THE DAY: Hendricks & Partners Helps Sell Family Property for $1.555M

Denver, Colo.–Hendricks & Partners executed the sale of The McFee, located at 60 Corona Street in Denver, Colo.

MHN Interview with Solvere Group: Setting Right Price-Point Is Key to Selling Product

San Diego–Monce and Mann talk to MHN about using advanced analytics to set price-points

Laura Khouri Is New President of Western National Property Management

Irvine, Calif.–Laura Khouri has been appointed president of Western National Property Management.

ARA Opens Portland, Ore. Office, Expands Northwest Presence

Portland, Ore.–Atlanta-headquartered Apartment Realty Advisors (ARA) recently opened its Portland, Ore. office, under the leadership of Gail Neuburg, former co-owner and operator of Portland-based Tilbury, Ferguson & Neuburg, Inc. This is ARA’s 20th location and expands its existing Northwest presence—ARA’s Seattle, Wash. office opened in 2007. According to Neuburg, “The ARA platform will substantially enhance our service delivery to our clients by allowing us to immediately leverage off of the relationships, knowledge and infrastructure of this powerful team of brokers.” Neuburg and her team will continue to specialize in representing both institutional and private capital owners and investors in the…

DEAL OF THE DAY: HFF Arranges $18M Financing for Manufactured Housing Community

San Diego–HFF (Holliday Fenoglio Fowler LP) has arranged $18 million in financing for The Highlands.

NWP Services to Introduce Next Gen Utility Management Offering at NAA 2010 Conference

Irvine, Calif.–NWP Services Corp. (NWP) will introduce its next generation utility management offering, UtilitySmart, at the National Apartment Association’s (NAA) Annual Education Conference and Exposition on June 24-26 in New Orleans, La. “UtilitySmart is an all-new utility management suite of products that wholly targets one of multifamily properties’ largest operating expenses: utilities,” says Michael Radice, president and CEO of NWP Services Corporation. “With it, owners and operators can effectively control, manage and plan utility spend with precision, and as a result, gain measurable increases in Funds from Operations (FFO), Net Operating Income (NOI) and asset value of their properties,” Radice…

MARKET SNAPSHOT: Despite Rent and Occupancy Declines, Transaction Volume in Los Angeles Reaches Its Peak

Los Angeles–While valuations vary between submarkets, the local economy has caused declines in rental rates and increases in vacancy throughout the Los Angeles MSA.