Nationally, asking rents were up 15% in February, while homebuyer mortgage payments increased twice as fast, Redfin reported.

Alterra is offering shares at $1 per token in a 24-story housing project in the heart of Silicon Valley.

The price of the remaining partnership interest in the $2.1 billion valued funds goes to the Teacher Retirement System of Texas.

The investor used the funds to recapitalize two luxury apartment buildings in Los Angeles.