Adriana Marinescu is an associate editor with Commercial Property Executive and Multi-Housing News. She joined the CPE-MHN team in 2019.
Jacksonville Property Commands Record Per-Unit Price
RST Development purchased the luxury community for $63.4 million, or $211,333 per unit, the highest price per unit ever paid for a Northeast Florida suburban asset. CBRE represented the seller.
Chicago-Area Assisted Living Community Gets New Building
The 156-unit luxury facility, located right across from Chicago Botanic Garden, opened its doors in 2014. A former memory care wing will be converted into assisted living units.
Atlanta Rental Asset Commands $40M
FCP has acquired a 310-unit garden-style community in the Embry Hills submarket, bringing the firm’s portfolio in the metro to 1,750 units.
JV Breaks Ground on Sacramento Affordable Community
The two buildings totaling 65 units will serve veterans, low-income families and individuals with special needs in Roseville. The project is slated for completion in Fall 2020.
Tampa Rental Property Commands $26M
The Related Group purchased the 176-unit multifamily asset located in the Bayshore submarket. Cushman & Wakefield represented the seller and secured acquisition financing for the buyer.
Kansas City Community Changes Hands
Prosperity CRE purchased an 80-unit property located some 8 miles from downtown. After renovations and upgrades, the property will be rebranded as Hidden Hills Apartments.
Atlanta-Area Community Changes Hands
Bridge Investment Group acquired a 308-unit multifamily property in western Gwinnett County. CBRE assisted the seller in the disposition.
Tampa Community Commands $13M
Axonic Properties has sold the 110-unit multifamily property located near Hillsborough River. Franklin Street represented both buyer and seller in the transaction.
JV Opens Affordable Senior Community in Metro Miami
The $36 million development is an age-restricted community encompassing 110 units in Broward County. Housing Trust Group and Miami Jewish Health Systems broke ground on the project in 2018.
Estate Investments Group Tops Off 2 Miami Communities
The properties total 517 units, broke ground last year and are slated for completion in November 2019 and January 2020, respectively.