Cities
PAC Buys Apartment Community in Jacksonville
The newly-acquired community is adjacent to another one owned by PAC, bringing the company’s current area footprint to more than 500 units, while also creating operational efficiencies.
CGI Kicks Off Construction at Koreatown Project
The Mariposa will feature a total of 121 units, out of which 17 will be dedicated to low-income earners. Completion of the development is scheduled for the spring of 2019.
HFF Secures $165M Refi for 2 San Diego Communities
The assets are part of Sunroad Enterprises’ 40-acre, master-planned community, which will include 1,622 multifamily units and 856,000 square feet of commercial space upon completion.
HFF Secures Refi for Dallas Community
The company secured the loan on behalf of the borrower, Advenir Inc. The 332-unit community received the loan through Freddie Mac’s Capital Markets Execution Program.
Camden Snags St. Petersburg Community
The company acquired the newly constructed property for approximately $127 million. Previously known as Aer Luxury Apartments, the asset will be rebranded as Camden Pier District.
St. Petersburg Community Sells for $46M
The 481-unit community traded to a New York-based buyer. The sale price equates to $96,000 per unit. IPA arranged the sale on behalf of the seller and procured the buyer.
LMC’s San Diego Community Poised to Open
The 368-unit Shift includes 19,000 square feet of ground-floor retail and features amenities such as co-working space, an art-walk courtyard and EV charging stations.
Manhattan Conversion Project Lands $130M
Eastern Consolidated arranged the construction loan on behalf of Delshah Capital for its adaptive reuse project, which will transform a medical facility into a luxury community in Morningside Heights.
Aurelie Capital Spends $20M in Richmond
Millspring Commons, a 159-unit community in Virginia, is the new private equity firm’s first acquisition. The company plans to add value by finishing a renovation program started by the previous owner.
Out-of-State Investor Grabs Baltimore Apartments
Sage Management sold the 56,000-square-foot Windsor Arms in a deal facilitated by SVN REALSITE. The community includes market-rate and subsidized units.