Multifamily

The property, which was completed in October 2018, was sold by The Hanover Company of Houston for an undisclosed price. The firm's regional office is located at 2 Seaport Lane in Boston.

Fairstead has financed a 905-unit portfolio of subsidized housing in Manhattan and Brooklyn. The nine properties include 49 buildings, which were slated to get converted to market-rate housing before the firm swooped in.

Compared to traditional forms of construction, container-based building reduces the costs of planning, engineering, and construction.

Hales as president of the student living division will drive investment, development and operational strategy for the $4.7-billion division.

Former CEO Scott Watt will remain chairman of the investment and development firm.

Demand is robust in the master-plan market, particularly for 55-plus active adult communities.

The 1970-built Mitchell-Lama property will continue to stay affordable housing and receive improvements.

Heimstaden Bostad AB is buying the residential property portfolio in the Czech Republic.