NEWTON, MA-Avalon Bay finally has all the permits it needs to develop a 294-unit multifamily housing development here. Despite recent reductions in rental rates and increasing vacancy rates, a company vice president tells GlobeSt.com that the multi housing market here remains stable.

PEABODY, MA-A luxury apartment complex here, Terrace Estates, receives $22 million in permanent mortgage financing. Funding for the 521-unit complex, developed by The Terrace Realty Trust, was provided by Freddie Mac through Legg Mason Real Estate Services/Spectrum Financial.

CAMBRIDGE, MA-Harvard University is purchasing three buildings here on Pleasant Street to use as student and faculty housing. The university states that the $40 million purchase is its response to the city's call to the university to increase its housing stock and ease pressure on the local housing supply.

PEABODY, MA-A luxury apartment complex here, Terrace Estates, receives $22 million in permanent mortgage financing. Funding for the 521-unit complex, developed by The Terrace Realty Trust, was provided by Freddie Mac through Legg Mason Real Estate Services/Spectrum Financial.

GREATER BOSTON-Demonstrating that the multifamily market here is hit hard by the economic downturn, Torto Wheaton predicts negative absorption rates and increased vacancy rates for that market in this area in the coming few years.

GREATER BOSTON-Demonstrating that the multifamily market here is hit hard by the economic downturn, Torto Wheaton predicts negative absorption rates and increased vacancy rates for that market in this area in the coming few years.

BELLINGHAM, MA-The apartment developer applies for a comprehensive permit to build a 300-unit apartment complex with an affordable housing component here. While the town has concerns over the traffic impact of the project, the permit would enable the Texas-based developer to bypass local zoning laws.

WEST BRIDGEWATER, MA-Bryant Development sells its supermarket-anchored mall here for $5.2 million. The ease of the sale of the 130,000-sf mall is an indication of the strength of this type of mall in today's market, according to a broker involved in the deal.