Cities
On the Market: 4 Interesting Listings for the Week of 3/26
This week’s listings include a 100 percent-occupied luxury community in downtown Baltimore, student housing near Philadelphia’s universities and a recently renovated value-add opportunity in Columbus, Ohio.
FCP Snaps Up Charlotte Asset for $60M
The Reserve at Providence is a 574-unit garden-style community that includes a dog park, a picnic area and three pools.
American Landmark, Electra America Acquire Tampa Community
The companies purchased Waters Edge, which will be rebranded as WestEnd at 76Ten and undergo more than $1.5 million in renovations.
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.
Demand, Supply Still Sky High in Miami
The city’s multifamily market displays solid fundamentals and a diverse economic profile, although it remains challenged by a substantial amount of new supply.
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.
Carmel Partners Sells $129M Upscale Denver Property
Westend, a 390-unit property built in 2015, was 93.5 percent occupied at the time of the sale.
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.
Greystar Buys $84M CA Property
The firm acquired Pacific Court Apartments, a transit-oriented and value-add property in downtown Long Beach. The buyer plans to upgrade the interior as well as the communal area amenities.
LA-Area Property Sells for $45M
Berkadia brokered the sale of Sunset Plaza, a 183-unit property located in West Covina. The firm represented both the seller and the buyer in the transaction.