Cities
Tikijian Closes 304-Unit Indianapolis Community
SL Systems LLC purchased the asset and plans to renovate the exterior and upgrade the unit interiors. The community was 95.7 percent occupied as of September.
BRG Acquires $36M Alabama Community
Bluerock Residential Growth REIT Inc. bought a studio, one-, two- and three-bedroom apartment unit. Springs at Greystone is situated in the top-tier suburban district in Birmingham, Ala. The firm plans to renovate the 300-unit building.
Kiser Group Brokers Uptown Chicago Community Deal
The sale of the 41-unit property closed at $4.9 million. The asset is a 1920s vintage building consisting mostly of studio apartments.
Walker & Dunlop Welcomes New SVP
Chris Harris will be responsible for nationwide structured finance and equity placement. He joins the company from Criterion Development Partners, where he served as principal & CFO.
Passco Nabs 5th Property in KC Metro Area
Greenwood Reserve, a 228-unit luxury community in Olathe, Kan., traded for $38.3 million. Jeff Stingley of CBRE represented both the buyer and the seller, an affiliated entity of Cityscape Residential. Chris Black and Caleb Marten of KeyBank Real Estate Capital’s Commercial Mortgage Group arranged acquisition financing through Fannie Mae.
Baron Properties Buys Phoenix Community for $20M
Since acquiring Capella Place in 2012 for less than half the price, Gelt has made several improvements, adding value to the 150-unit property.
Nusbaum Opens Doors of 1st MD Project
The Fred, a 240-unit apartment community, is situated only an hour away from Baltimore and Washington, D.C. The company initially invested $50 million into the development, which broke ground last year.
Transwestern Debuts The Hayworth in Houston
The new 246-unit luxury community in Houston’s upscale Tanglewood neighborhood offers large floorplans and a variety of amenities.
TA Realty Pays $135M for South Florida Community
The Related Group and its partners sold the property, which is part of the 55-acre CityPlace Doral development in the Miami area.
Greystar Unveils Elan River District in Fort Worth
The 325-unit luxury community is located along the Trinity River on the west side of Fort Worth. The units include high-end finishes and resort-like amenities.