“Washington, D.C.—The Housing Partnership Equity Trust (HPET), which was formed as a social-purpose REIT, announced that it has raised $100 million from Citi, Morgan Stanley, Prudential Financial Inc., the John D. and Catherine T. MacArthur Foundation and the Ford Foundation. It will begin investing in multifamily communities in partnership with 12 high-performing nonprofit housing providers.”
via Housing Partnership Equity Trust Launches with $100M in Funding for Affordable Communities | Multi-Housing News Online.
Three sluggish markets that Witten advises to be careful of include Virginia Beach, Va., which has demand challenges; Metro D.C., where developers are building for a demand that isn’t there; and Raleigh/Durham, N.C., which is also demand challenged. But Witten made sure to mention that developers and investors shouldn’t write off these metros completely.
via Special Report: The Leading and Lagging Apartment Markets Around the Country | Multi-Housing News Online.