RICHARDSON, TEXAS — The Department of Justice (DOJ) has closed its criminal investigation into the pricing practices of the rental housing industry, according to RealPage, citing a DOJ notice. In a statement released Dec. 6, the company also reaffirmed its stance that its software platform did not violate antitrust laws. RealPage stated that it cooperated extensively with the DOJ throughout the now-closed investigation, adding that the DOJ did not identify RealPage as a target of the investigation at any point. While the criminal investigation has ended, it remains unclear whether …
DALLAS — Lion Real Estate Group (Lion) has expanded its leadership team with the addition of Deanna Wigley as vice president of operations support. In this role, Wigley will supervise the review and evaluation of new supplier partners, ensure that appropriate resources are in place to facilitate sales transactions and oversee information technology services. She will also serve a key role in risk management and training for regional and community managers. Prior to joining Lion, Wigley served as regional vice president at both Allied Orion Group and US Residential Group. …
SACRAMENTO, CALIF. — The California Housing Finance Agency (CalHFA) board of directors has appointed Stephanie McFadden as director of multifamily programs. In her new position, McFadden will oversee the CalHFA lending team, as well as an asset management division that monitors roughly 18,000 units of affordable housing. Most recently, McFadden was the chief leading officer at Low Income Investment Fund (LIIF), a nonprofit community development financial institution. Prior to joining LIIF, she served as a senior advisor for the Office of Multifamily Production with HUD, a role that was created …
SOLON, OHIO — TCAM Asset Management, an affordable housing service provider that was acquired by Solon-based property technology firm MRI Software in 2018, is rebranding as MRI Asset Management Services. The company will continue to provide asset management and consulting services to developers, owners and funders of affordable housing. TCAM Asset Management, now MRI Asset Management Services, was originally established in 2009. The company serves clients for roughly 1,600 properties and 176,000 apartments across 48 states, Washington, D.C. and Puerto Rico.
Most people who have studied real estate investing will recall that property expenses are divided into controllable and noncontrollable buckets. In the noncontrollable bin are items like insurance, utilities and property taxes. And while it is true that these expenses usually are unavoidable, an owner should try to exert some level of control, at least in the case of taxes. Taxing entities calculate property taxes by multiplying a property’s assessment by its jurisdiction’s tax rate. The rate is indeed noncontrollable, but savvy owners will review their assessments and challenge them …
VIRGINIA BEACH, VA. — Barry Tomlin has returned to The Breeden Co. as vice president of customer service and marketing. Tomlin previously served in various leadership capacities at The Breeden Co. He has come out of retirement in order to accept the position. As vice president, he will develop and implement strategies to enhance customer satisfaction and engagement. Tomlin will also oversee The Breeden Co.’s marketing initiatives.
LOS ANGELES — The Dinerstein Cos. has hired Josh Rebholz to the role of vice president of capital markets and Scott Wandzilak as director of capital markets. Based in The Dinerstein Cos.’s recently established office in Los Angeles, Rebholz and Wandzilak will spearhead capital raising efforts for company’s fund platform and investment management business. Prior to joining The Dinerstein Cos., Rebholz was the executive senior associate athletic director at the University of California, Los Angeles (UCLA). He holds a bachelor’s degree in integrated studies from Weber State University and a …
CHICAGO — Chicago-based developer and owner-operator Core Spaces has appointed six professionals to the company’s executive leadership team. Founded in 2010, Core Spaces owns and operates approximately 45,600 student housing beds, with a pipeline of over 43,000 beds underway. Additionally, the company has a pipeline of approximately 3,000 BTR homes under development. Core Spaces states that it currently has $5.7 billion in combined equity under management.
WASHINGTON, D.C. — The Federal Housing Finance Agency (FHFA) has increased the multifamily loan purchase caps for Fannie Mae and Freddie Mac for their 2025 production. The government-sponsored enterprises (GSEs) will each have caps of $73 billion, or $146 billion combined, which is a four percent increase from the 2024 caps of $70 billion each. Bob Broeksmit, president and CEO of the Mortgage Bankers Association (MBA), states that the move to increase the cap is fitting due to recent moves by the Federal Reserve, which has twice reduced the federal …
Amenities are the personality of a multifamily property. They proclaim a community’s individuality and lure tenants with promises of a fun, relaxing or convenient lifestyle. What counts as a multifamily amenity today? If most renters and homeowners are accustomed to robust Wi-Fi or controlling their heating and air conditioning through their phones, is a smart thermostat or bulk internet something to advertise as an “extra,” or are these features a given nowadays, like a fridge or a microwave? “Want versus need is a spectrum when it comes to multifamily amenities,” …
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