Cities
Security Properties Buys $43M Vegas Asset
Martinique Bay received renovations to 91 of its units before being sold off to Security Properties. The company plans to add value to the property by improving the rest of the units and also add exterior upgrades.
Venture West Closes $51M Refi
The company has arranged the loan for two properties, totaling 120 units in Los Angeles. The loan was secured through Banc of California.
Vesper Buys 560-Bed FL Community
The student housing acquisition marks Vesper’s second in the USF market. The property offers a mix of two- and four-bedroom units.
Inland Group Lands $50M NC Community
Inland Real Estate Acquisitions closed the purchase of a 304-unit community in Knightdale, N.C. Senior Vice President Mark Cosenza completed the deal with assistance from Brett Smith, assistant vice president & associate counsel of The Inland Real Estate Group.
ABI Facilitates Sale of AZ Community
The 46-unit community is situated near major employment centers, as well as several schools in Mesa, Ariz. ABI brokered the transaction on behalf of the buyer.
HFF Secures $35M Sale of Orlando Community
Epoch Residential sold the 181,276-square-foot community, which features one-, two and three-bedroom apartment units. The new owner intends to upgrade the property’s amenities and services.
Construction Begins on Denver Senior Community
Avenida Lakewood, designed by KTGY Architecture + Planning and developed by Avenida Partners, will feature 230 units and is slated for completion in spring 2019.
FCP Grabs $45M GA Property
Federal Capital Partners has acquired the 446-unit, garden-style Stratford Ridge in the Atlanta suburb of Marietta. This represents the company’s fifth investment in the area.
Meridian Secures Financing for 24-Building Dallas Community
Seth Grossman and Sarah Kuebler of Meridian Capital Group arranged a $20.5 million loan for the 288-unit Dallas multifamily property.
Tucson Asset Trades for $23M
Institutional Property Advisors arranged the sale of the 205-unit community, which received substantial upgrades from the previous owner and will undergo further improvements by the new owner.