Redwood Living and RED Mortgage Capital, the mortgage banking arm of RED Capital Group, LLC (RED), recently celebrated a significant milestone in their relationship with the closing of a $4.17M bridge loan for an eventual FHA 223(f) refinance on the Lakes of Ridgecrest Phase 4 in North Ridgeville, Ohio. With this closing, the two firms have now collaborated to close 50 unique financings for Redwood-owned assets, totaling in excess of $340M.

ROSS Management Services, a leader in multifamily property management in the Mid-Atlantic region, today announced it has assumed management responsibilities for six apartment communities with 1,140 units in suburban Washington, D.C., southern Virginia and New Jersey. The communities are a mixture of affordable and market-rate properties. The management assignment represents ROSS's entry into the New Jersey multifamily market and an expansion of its southern Virginia portfolio.

Douglas Emmett, Inc. (NYSE:DEI), a real estate investment trust (REIT), announced that it has closed on two loans totaling $520 million in proceeds.  Douglas Emmett used the proceeds from these loans, plus cash on hand, to pay off its existing $530 million loan scheduled to mature in August 2018. 

RealtyShares today announced that its community of investors has raised $2.25 million to recapitalize and fund the renovation of Avesta Bridgewater, a 344-unit apartment community in Orlando, Fla.

Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the recapitalization and arranged financing for River North Park, a 400-unit, 24-story apartment tower in Chicago’s River North neighborhood.

JMG Realty, Inc. today announced they have been selected as the managing agent for a $236 million, six (6) property Multifamily Portfolio acquired in a venture between Ares Management and TruAmerica Multifamily.

Abode Properties and Transcontinental Realty Investors, Inc. (TCI) are pleased to announce HUD approval of the TPA Transfer for Grand Fountain Apartments in Richmond, Texas.

Preferred Apartment Communities, Inc. (NYSE: APTS) ("PAC" or the "Company") today announced that it closed on a loan investment of up to approximately $18.7 million.  This investment is in connection with The Altman Companies plans to develop a 392-unit multifamily community located in Tampa, Florida.  Additionally, with this investment, PAC received an option to purchase the multifamily community following stabilization at a discounted price to market. The development is part of the Wiregrass master-planned community which has been approved to include, among other things, over 10,000 homes, 2.7 million square feet of retail, one million square feet of industrial, a 138-acre sports complex, and 2.6 million square feet of office, including a campus planned by Raymond James for 750 employees.  "The Altman Group is a South Florida based developer of Class A multifamily properties throughout the Southeast U.S.  We are excited to partner with The Altman Group," said Daniel M. DuPree, the Company's Vice-Chairman and Chief Investment Officer.

Marcus & Millichap (NYSE:MMI) today announced its Institutional Property Advisors (IPA) division has closed the sale of Sonoma Ridge Apartments, a 180-unit apartment community in Santa Rosa, California. The $44,650,000 million sales price equates to $248,056 per unit.