WASHINGTON - Two multi-family housing bond issues that were thrown into technical default with the failure of Mutual Benefit Life Insurance Co. are expected to be redeemed late this month when the projects funded by the bonds are due to be sold to a real estate investment trust.

The developer of the projects, Dallas-based Trammell Crow Residential Properties, has informed the Maryland Community Development Administration that it intends to sell the projects to the investment trust, Avalon Properties Inc.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.