RICHMOND, VA-Cornerstone REIT, which owns and manages 72 multifamily communities across the South, says it has satisfied financing requirements to complete an exchange offer of its preferred stock.

FAIRFAX, VA-The company, continuing its strategy to sell its real estate to pump up the growth of its proprietary brands, sold the Wellesley Inn here to Elite Hotels LLC, based in Annandale.

STAFFORD, VA-The 240-unit Lakewood Apartments complex was built in 1990 and originally financed as a tax credit deal by HUD. The new Fannie Mae loan carries an interest rate of 6.85%.

WASHINGTON, DC-Low interest rates will fuel growth across all areas of the market, according to the NAR, which predicts a record being set for new-home sales and the second-best year ever for existing-home sales.

WASHINGTON, DC-President George W. Bush's proposed budget addresses parts of the nation's "broken" housing policy, according to the National Multi Housing Council. The budget boost loan limits for FHA-based multi-family projects.

RESTON, VA-With the signing of three leases by three separate law firms, a 16-story, 233,951-sf office tower being developed by in the volatile Dulles Corridor is more than half leased.

WASHINGTON, DC-Low interest rates will fuel growth across all areas of the market, according to the NAR, which predicts a record being set for new-home sales and the second-best year ever for existing-home sales.

WASHINGTON, DC-The hospitality company offers a wide array of up-to-date information to current and prospective investors on a newly launched area of its Web site. In fiscal year 2000, Marriott International reported sales of $19.8 billion.