Fannie Mae invested $11.8 billion in rental housing during the first half of 2005. More than 92 percent of the multifamily units financed are affordable to families at or below the median income of their communities. About 60 percent of the units were reserved for low- and very low-income residents.
MBK Senior Living acquired Sterling Senior Communities, a 178-bed senior living community in Temecula, Calif. The 20-acre campus includes 51 independent living units, 73 assisted living units, and an Alzheimer’s care facility with 28 units. Renaissance Senior Living will manage the property.
SARES?REGIS Group sold a 748-unit, four-property portfolio in Colorado to RedPeak Properties for $48.9 million in a deal brokered by Moran & Co. The portfolio includes the 220-unit Briarglen in Colorado Springs, plus the 168-unit Cottonwood Creek, 140-unit Quail Ridge, and 220-unit Hunters Cove in the metro Denver area.