SEATTLE—Berkadia's Student Housing Group recently revealed the sale of two properties totaling more than $146 million. Berkadia's student housing team, led by Managing Director Kevin Larimer and Director Greg Gonzalez, teamed with Senior Managing Director Kenny Dudunakis, Director David Sorensen and Director Ben Johnson of Berkadia's Seattle office on the sale of AVA University District at University of Washington – Seattle on behalf of the seller, Arlington, Virginia based Avalon Bay Communities Inc. The student housing team, working with Managing Director Shane Shafer of Berkadia's Irvine office, also closed Fullerton University Village at California State University in Fullerton, California on behalf of the seller, a local TIC group. Located at 4535 12th Ave., AVA University District features studio, one- and two-bedroom apartments within walking distance of University of Washington and less than five miles from downtown Seattle. Units feature high-speed internet, a washer/dryer and air conditioning. The property also has a barbeque and picnic area, two rooftops with green spaces and on-site social events. Fullerton University Village is located at 2000-2030 Oxford Ave., within walking distance of California State University, Fullerton. The property offers studio, two- and three-bedroom fully-furnished apartments with refrigerators, flat screen televisions and all utilities included in the cost of rent. Residents can also enjoy a fitness center, swimming pool, student lounge and monthly organized events on-site.

OAKLAND, CA—Highland Realty Capital has successfully raised $1.9 million in joint-venture equity alongside a $3 million A&D loan to help its client acquire what is currently a vacant warehouse in Oakland, CA. The Site will be redeveloped into approximately 122 apartment units. Working on behalf of a San Francisco-based developer, Highland was engaged exclusively to raise debt and equity for the acquisition of this site. Directly across the street from the forthcoming City Ventures development, the project benefits from a location that will gentrify over the coming years, like many neighborhoods in Oakland. The residential building will feature 4-bedroom apartments with ample amenity space for tenants, bike racks, and easy access to Uptown.

SEATTLE—Emerald Cities Collaborative's innovative RENEW Multi-family program helps preserve the supply of affordable housing by using energy and water efficiency upgrades to reduce owners' operating costs – lowering utility bills enough to offset the cost of the efficiency improvements. Launched in Seattle in December 2015, the program is now paying off, according to a release. Several nonprofit owners of affordable apartment buildings are seeing lower energy and water bills, as well as reduced carbon emissions – results that align with ECC's work at the intersection of environment, economy and equity and its mission to build a sustainable, just and inclusive economy. To make RENEW Multifamily work, ECC partners with housing owners, state housing finance agencies and local utilities to facilitate up-front financing for the energy- and water-saving measures – loans that are paid off with the resulting energy bill savings.