Business Specialties
Combined Properties Snags VA Asset for $41M
Reston Glade includes 200 units and has a 96 percent occupancy rate.
Peak Campus to Manage 2 Indianapolis Properties
Greyhound Village and University Lofts are owned by Strategic Capital Partners and add 780 beds to the management company’s portfolio.
Wilshire Unlimited Enters Vegas Market With $21M Buy
The company will apply a value-add strategy to the community, which is in need of upgrades and currently has 16 units down due to deferred maintenance.
Tampa Community Changes Hands for $97M
Brokers from Berkadia’s Tampa, Orlando and Jacksonville offices worked together in finding a buyer for The Cove Apartment Homes, a 689-unit garden-style property.
JV Secures $251M for NYC Condo Project
CB Developers, SK Development and Ironstate Development are constructing 646 11th Ave. in the Hell’s Kitchen neighborhood. When completed, the community will include 222 condos and 60 for-sale storage units.
Eyzenberg Facilitates $14M Loan for 2 AL Assets
Blue Magma Residential and Auerbach Opportunity Fund I purchased the 223-unit Hillside Village and the 152-unit Twickenham Village, both located in Huntsville.
Blaze, True North Acquire Charlotte Property
The 210-unit Galleria Village Apartments marks the partners’ second purchase in the Charlotte area. The community offers access to a swimming pool, a car-care center and a clubhouse.
Multifamily Community With 753 Units Trades in Indianapolis
Shamrock Communities sold The Cottages of Fall Creek to Pepper Pike Capital Partners. The new ownership will make a significant capital investment in the asset.
Affordable Dallas Property Lands Refi
The 240-unit community, constructed between 1968 and 1976, includes 202 income-restricted apartments. The owner purchased the property in late 2016.
What’s in Store for the Apartment Industry
While demand for multifamily housing remains strong, the sector faces a number of challenges, according to multifamily experts speaking at the National Association of Real Estate Editors annual real-estate journalism conference in Las Vegas.