Andover Real Estate, M Group Pick Up MI Asset
The buyers financed the acquisition with a $16 million Fannie Mae Green Rewards loan originated by Hunt Mortgage Group.
Forest City Trades Brooklyn Property for $156M
Principal Global Investors acquired 461 Dean, a 363-unit community—50 units of which are affordable—that opened in late 2016.
Portland Luxury Community Opens Doors
Mill Creek’s Modera Belmont broke ground in May 2016 and features 200 units and more than 10,000 square feet of retail space.
GEM Property Management Exits St. Louis in $180M Sale
The nearly 2,000-unit portfolio sale is the largest multifamily transaction in the city’s history, encompassing six communities in southern St. Louis County.
LeCesse Begins 2nd Phase of Orlando Development
The 312-unit BellaNova at JubiLee Park, located about two miles from the city’s airport, is anticipated to open in the summer of 2019.
S2 Capital Expands Houston Footprint
The nearly 800-unit property, built in 1973, includes a mix of one- to three-bedroom apartments. The new owner plans to upgrade the community’s units and amenities.
Luxury Raleigh Community Breaks Ground
The first phase of Exchange at Holly Springs is slated to bring 316 units across 11 buildings, with a second phase in early planning stages.
Raleigh-Area Property Trades for $43M
The new owner, a joint venture between DRA Advisors and Fogelman Properties, plans to implement both in-unit and amenities upgrades.
Resource Real Estate Grabs Atlanta Property
The 324-unit asset, situated in the city’s northwestern suburbs, includes a mix of one- to three-bedroom apartments across nine buildings.
Sage Equities Lands Atlanta Refi
Grandbridge Real Estate Capital’s Alan Tapie originated the nonrecourse refinancing package of more than $25 million, which will enable the owner to implement energy and water efficiency measures.