WASHINGTON, D.C. — The National Multifamily Housing Council (NMHC) has filed a petition to appeal the Federal Communications Commission’s (FCC) Digital Discrimination Rule. The new rule includes property owners as a “covered entity,” which would hold housing providers liable under the FCC’s enforcement scheme if adequate broadband internet connectivity is not available to its renters. The rule is slated to go into effect on March 22, 2024. NMHC stated in a press release that while it supports the goal of ending digital discrimination, it feels the new rule is overly …
CHARLOTTE, N.C. AND ALEXANDRIA, VA. — FCA Management and Bonaventure have merged to create an enhanced third-party property management firm and platform. FCA Management is a third-party property management firm, which is based in Charlotte and serves clients in the southeast and mid-Atlantic. Bonaventure is an asset management firm with a focus on investment, development and construction in the southeast and mid-Atlantic. As part of the agreement, Bonaventure’s Property Management Services will become part of FCA Management, which will manage all current and future Bonaventure market-rate communities. The combined platform …
ARLINGTON, VA. — The National Apartment Association (NAA) has selected Rick Snyder, president and owner of San Diego-based R.A. Snyder Properties, as 2024 Chair of the Board. Snyder was formally installed at NAA’s Assembly of Delegates in San Diego last November. NAA’s headquarters are located in Arlington. Snyder has been involved with NAA for nearly 20 years, having previously served as a Regional Vice President, Membership Committee Chair and as a member of several committees. Snyder received his Bachelor of Science degree in Business Administration from San Diego State University …
NEW YORK CITY AND TORONTO — Affiliates of Blackstone (NYSE: BX) have entered into an agreement to acquire Canadian owner-operator Tricon Residential (NYSE: TCN) for $3.5 billion. The deal is expected to close in the second quarter and will take Tricon Residential private. Blackstone will acquire all outstanding shares of Tricon’s common stock for $11.25 per share in cash. The per-share price represents a 30 percent premium over Tricon’s closing stock price on Thursday, Jan. 18 and a 42 percent premium over the weighted average share prices of the last 90 …
BOTHELL, WASH. — Conversion Logix, an Bothell-based digital marketing company focused on multifamily, senior living and student housing, has hired CJ Edmonds to the role of chief revenue officer. Edmonds brings more than 25 years of experience in software-as-a-service company management and more than thirteen years of experience in real estate marketing and technology services to the company.
SAN JOSE, CALIF. — Urban Catalyst has launched a new fund, UC Multifamily Equity I LLC (UCME), focused on the development of a 272-unit building in San Jose. The property, called Aquino, will offer studio, one-, two-, and three-bedroom apartments. Amenities will include private co-working offices, a bar and lounge, a fitness center with a yoga studio, a dog run and a courtyard. Urban Catalyst has structured UCME as a real estate operating company, which allows it to accept funding from qualified retirement accounts such as IRAs and 401(k) plans.
MIAMI — Atlantic Pacific Companies and GTIS Partners have formed a joint venture to invest in the ongoing development of Atlantic Station, a high-rise project in Miami. Atlantic station will rise 36 stories on a 2.1-acre site. The building will offer 616 apartments, 25,000 square feet of retail space and a 624-space parking garage. Of the total unit count, 360 will be affordable, although exact income restrictions were not disclosed. Amenities will include a recreation deck with two pools, a gym, picnic areas, a dog park and co-working spaces. Vertical …
HOUSTON — JLL Capital Markets has hired Jim Humphries as a director to the firm’s single-family rental (SFR) team. In this role, Humphries will focus on SFR and build-to-rent (BTR) investment sales nationally. He will work out of JLL’s Houston office alongside the current SFR team lead, Managing Director Matthew Putterman. Humphries previously served as a senior vice president with Colliers and worked with HFF as part of the Houston multi-housing investment sales team.
CHICAGO — Evergreen Real Estate Group has added Jewell Walton to the newly created position of vice president of public partnerships. In this role, Walton will focus on diversifying the firm’s affordable housing portfolio by partnering with public housing agencies to convert assistance for existing public housing communities to long-term, project-based Section 8 contracts under the Rental Assistance Demonstration (RAD) program. Prior to joining Evergreen Real Estate Group, Walton served as deputy chief of RAD programming with the Chicago Housing Authority and as a project manager for S.B. Friedman & …
WASHINGTON, D.C. — The National Multifamily Housing Council (NMHC) has selected Bernard Fulton as vice president for housing policy and regulation, Latoya Lovick as vice president of membership and Ryan Hecker as a Research Assistant. Fulton comes to NMHC from the Housing Policy Council, where he served as Vice President for Government Relations. Prior to joining the Housing Policy Council, he served as legislative director for Congresswoman Jan Schakowsky, legislative representative for the City of New York and head of Congressional relations for HUD Secretaries Shaun Donovan and Julián Castro. As vice …