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Reliance Capital Partners Closes Surrey Apartments

Reliance Capital Partners, LLC is pleased to announce the acquisition of Surrey Apartments. This purchase is the third and final of three properties located in the Memphis, TN area. Surrey Apartments is a 108 unit Section 8 property covered by a Housing Assistance Payment contract from HUD. Reliance Capital Partners acquired the property in partnership with Mr. Marc Aron, a private investor. Debt financing was provided by First Regional Bank. Hediger Enterprises has been awarded the management contracts for the property. Hediger Enterprises currently manages more than 6,000 units in the Southeast portion of the US.Reliance Capital Partners can be contacted at their Los Angeles offices below:Reliance Capital Partners9911 W. Pico Blvd. Suite 848Los Angeles, CA 90048Ph: 310.284.2632 This email address is being protected from spam bots, you need Javascript enabled to view it

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Order Details : National wise Distribution --------------------------------Email : This email address is being protected from spam bots, you need Javascript enabled to view it Name : Andre Koren Specify country for distribution :United StatesDistribution date : Within 24 HoursTargeting : Real Estate, Finance, Investors, Press release summary

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Building consents plunge in May

The number of permits issued for new dwellings, including apartments, fell 42.3 per cent in the month of May compared with April.

The decline was 25.3 per cent if apartments are excluded.

Statistics New Zealand said a seasonally adjusted 1645 new dwellings were approved for the month, down from a record 2853 in April.

The April figures should be treated with caution because there was a sharp increase in apartment consents in the month and the Easter holiday fell differently this year compared to last year.

"The trend in the number of new dwellings excluding apartments has been declining since June 2007 following a period of general increases from August 2005," Statistics New Zealand said.

In the year ended May 31, new dwelling consents, including apartments, fell 5.8 per cent from the previous May year. more

Shrewsbury Apartments Get Tax-Exempt Status

Our Lady of Life Apartments, 7955 Watson Road, has been granted a tax-exempt status since part of the entrance fee residents pay when they rent an apartment could be used to pay part of their rent, should the need arise. Our Lady of Life Apartments has 207 independent-living units.

Ann Kuhn, administrator of the apartments, said residents receive 75 percent of the fee back when they leave.

"We keep 25 percent and that money is invested," Kuhn said. "The money earned off the investments is used to serve the poor of Cardinal Ritter Senior Services who can't afford care on their own."

She said their investments have made "close to a million dollars over the past three or four years."

Mayor Bert Gates said the city had been notified that the apartments had requested to become a nonprofit. more

Tangipahoa deputies arrest 5 in drug case

Agents had received information that a woman living in the Westminster Apartments off South First Street in Ponchatoula would be traveling to New Orleans to buy prescription drugs from several physicians, deputies said in a statement.

The woman, who was not named nor identified as being arrested, would then return to distribute them in the parish, deputies said.

Agents saw several people visit the apartment Monday by foot and car to buy prescription drugs. Those arrested and the crimes with which they were booked are: Glenn Edward McGee, 45, 65184 Bennett Road, Amite; possession of schedule II drugs; Caleb White, 42, 65184 Bennett Road, Amite; possession of schedule I, II and IV drugs; Matthew Allen Lea, 29, 240 N. Barrone St., Ponchatoula; possession of schedule II drugs; William Todd Holley, 22, 42371 Stewart Lane Hammond; possession of schedule I drugs; Charlene Anne Sibley, 42, 22156 Sheridan Road, Ponchatoula; possession of schedule II drugs. more

Fire Damaged Several Apartments On East Sahara Near Lamb

Fire investigators are trying to figure out what sparked the flames at a Valley apartment complex.

The fire damaged several units at the complex on East Sahara near Lamb Monday around 2:30pm.

Two people suffered smoke inhalation as a result of the fire.

The Red Cross is helping four families, a total of 13 people, who were displaced because of the fire.

Stay tuned to Action News as we monitor developing news around the Valley.

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