The nonprofits, including Mercy Housing, LINC Housing Corp. and Nevada HAND, created a private real-estate investment trust that will acquire apartment buildings across the country, mainly in communities where rising real-estate values have prompted landlords to turn low-income housing into housing for the middle class or affluent.

The REIT, called the Housing Partnership Equity Trust, is the nation’s only real-estate company owned and operated by nonprofits and the second REIT to focus on affordable housing.

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RealPage continues growing, set to acquire Modern Message

Real estate tech company RealPage announced recently that it will be acquiring multifamily real estate engagement solution Modern Message.

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3d rendering of a row of luxury townhouses along a street

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