August 14, 2007 | Vol. 5 No. 16

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Volume 5 - Number 16 | August 14, 2007

TOP STORY: Multifamily Vacancies Stagnant, Sales Off 8% in Q2
By Sule Aygoren Carranza
On the surface, it appears the recovery in the US apartment market has flatlined. However, Property and Portfolio Research reports several cities seem to have reached a “turning point."

GMH Sheds All Debt in Q2, Swings to Profit
By Marita Thomas
GMH Communities Trust had a profit of $24.1 million during the second quarter, up from a loss of $541,000 for the same quarter in 2006. Net income reached $12.4 million, up from a net loss of $810,000 a year earlier.

Insider: Mission Residential’s Chris Finlay
While some describe it as a contrarian player, the leadership at Mission Residential say the firm is anything but. The company generally focuses on middle-market apartments in second-tier cities.

ARC Sells Communities Business to Investor Group for Nearly $2B
By Sule Aygoren Carranza
Affordable Residential Communities Inc. closed on the sale of its manufactured home communities business as well as its manufactured home retail sales and financing entities.

HUD Launches Green Initiative on Select Properties
By Sule Aygoren Carranza

Short Takes: Carlyle, Cameratta Partner on 5,700-Acre Project

Executive Moves: Marcus & Millichap Elevates Three to VP of Investments

Recent Transactions: HFF Arranges $141M Loan for Boston-Area Community