• CAPREIT, an investment company based in Rockville, Md., says it is readying a $500 million, 18-month acquisition program aimed at multifamily housing.
• The company is assembling the financing now from a range of investors, executives said.
• Kevin Smith, the former director of Mortgage Banking at Centerline Capital Group, has been hired as a senior vice president and will be in charge of deciding how to assemble the money.

From the article:

Locally-based CAPREIT is poised to embark on a $500-million asset commercial real estate acquisition spree, principals of the firm tell GlobeSt.com. To be precise, the $500 million refers to the total property value in value-add multifamily acquisitions it plans to make over the next 18 months....