Friday, August 31, 2012

MAA Announces Acquisition of Haven at Blanco Apartments in San Antonio, TX

MEMPHIS, TN /PRNewswire/ -- MAA (NYSE: MAA) announced it has completed the acquisition of Haven at Blanco (top left photo), an upscale 436-unit multi-family apartment community in San Antonio, Texas.

Haven at Blanco was developed in 2010 and is located just minutes from San Antonio's northwest job corridor, the city's largest employment sector. 

The community also has excellent access to major thoroughfares and is less than ten minutes from USAA, San Antonio's largest private employer, and the South Texas Medical Center, which is home to 45 medically-related institutions.

The Haven at Blanco community provides residents with a wide array of amenities including a private entrance gate, resort-style swimming pool with cabanas and heated spa, and both attached and detached garages.

The apartment homes boast an average 1,063 square feet and offer nine foot ceilings with crown molding, walk-in closets and granite countertops in select units.

Commenting on the announcement, Al Campbell (lower left photo), EVP and CFO said, "We are pleased to be expanding our footprint in the San Antonio market.  We believe our operating platform in this economically diversified area will generate attractive investment returns for our shareholders."

For a complete copy of the company’s news release, please contact:

 Investor Relations of MAA,

Beech Street Capital Provides $20.4 Million in Freddie Mac Loans to Acquire West Palm Beach, FL Apartments

BETHESDA, MD – Beech Street Capital, LLC announced it provided $20.4 million in Freddie Mac Capital Markets Execution loans for the acquisition of Golf Villas at Sabal Palm and Palo Verde.

David Hayum originated the transactions for Meridian Capital Group, LLC, which was financed by Beech Street Capital as part of its correspondent relationship with Meridian.

 The borrower, a repeat client of Beech Street, was impressed with the execution of Golf Villas, their first with Freddie Mac.

 “We worked with Freddie Mac to meet the borrower’s acquisition timeline,” states Rick Del Roio, deputy chief underwriter. “Pleased with the transaction, the borrower signed up a second Freddie acquisition with us to finance another West Palm Beach apartment complex, Palo Verde.” The transactions closed one month apart.

 Golf Villas at Sabal Palm, a 166-unit apartment complex, is located in the city of West Palm Beach, Broward County, approximately 15 miles from downtown Fort Lauderdale business district, with convenient access to Interstate 95, the Florida Turnpike, and the Sawgrass Expressway.

 Built in 1987, the property consists of nine, two-story apartment buildings and one leasing office. Amenities include a swimming pool and spa, a cabana changing facility, tennis courts, a laundry facility, as well as 279 open parking spaces. 
Palo Verde, a 276-unit apartment complex, is located in West Palm Beach, approximately six miles southwest of the West Palm Beach central business district. Interstate 95, the Florida Turnpike, Palm Beach International Airport and

 The fixed-rate loans have a 10-year term and a 30-year amortization schedule.
For a complete copy of the company’s news release, please contact:

Courtney Lewis
 240-507-1948 or
Jenifer Bernardi

.Web site:
Web site: 

CFA Presents 2012 Contractor of the Year Award to Lance Jordan

MT. VERNON, IA -- The Concrete Foundation Association (CFA) – an organization dedicated to improving the quality and acceptance of cast-in-place concrete foundations – announces the presentation of its 2012 Contractor of the Year Award to Lance Jordan (top left photo).

Jordan, Chairman of Stephens & Smith Construction Co.  Inc. of Omaha and Lincoln, Neb. has been a member of CFA for over a decade. Jordan served as a Board member for a 3-year term ending last year.

 He was nominated for this prestigious award for his leadership in a CFA position on OSHA’s residential fall protection regulation that became effective earlier this year.

“I am very humbled to be recognized by our “peer companies” who are members of the CFA,” states Jordan.  “For well over thirty years we have admired many of the CFA companies and their owner/managers.

“In fact we have tried to duplicate many of their processes and systems, which we felt fit our own ‘business model’. The CFA and its members definitely have set the standards of quality, excellence and professionalism for the cast-in-place foundation industry.”

The annual award recognizes the contributions of a poured wall contractor to the industry. This year’s award was presented at the CFA Summer Convention held on Jul. 26-29th in Acme, Mich. at the Grand Traverse Resort.

For a complete copy of the company’s news release, please contact:

Ed Sauter, 319-895-6940 or
Jim Baty, 319-895-6911 or