The other consortium members are Archstone Communities, AvalonBay Communities, Camden Property Trust, Equity Residential Properties Trust and United Donimion Realty. The companies aggregately represent more than 530,000 apartment units.
Banc of America Mortgage Capital Corp., a subsidiary of Bank of America Corp., Insignia Financial Group and Viva's existing venture capital firms, Allegis Capital, Kline Hawkes & Co. and Rosewood Venture Group also contributed to the round of financing.
Founded in 1999, Viva is currently serving about 800,000 rental units in 15 major metro markets, including Atlanta, Arizona, Florida, Georgia, Nevada and Texas. The company will make a major push in 2001 into additional markets and expects to up the number of units to 1.2 million.
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