After a busy year, the market is recording some sluggishness.
Gantry originated the 7-year Freddie Mac loan.
The 586-unit property now operates under the Extra Space Storage brand.
Link Senior Development is behind the 144-unit community.
While rent growth moderated, the city continues to display healthy fundamentals.
Northmarq represented the seller and secured acquisition financing for the buyer.
The company plans a multimillion-dollar value-add program.
Rent growth decelerated, dampened by seasonality and supply, but remained in positive territory.
The firm intends to invest $19 million through a value-add asset management plan.
Berkadia represented both the buyer and seller in the four-property deal.