Cities
JV Invests $148M in 2 Luxury AZ Assets
Bascom Arizona Ventures and Pacific Life Insurance Co. acquired Legend at Kierland and Tradition at Kierland, totaling 724 units. Quadrant Real Estate Advisors provided debt financing arranged by CBRE.
Jehovah’s Witnesses Sells Historic Brooklyn Asset
Formerly a hotel known as “the aristocrat of Brooklyn Heights,” the 295-unit The Towers will be redeveloped into Brooklyn’s first luxury senior housing community.
PAC Invests in 792-Bed Atlanta Asset
Stadium Village had an average rental rate of $2,776 per unit as of September. Preferred Campus Management will manage the business and operations for the joint venture.
Capital One Closes $17M Student Housing Refi
The 341-bed International Village serves students at the University of California Riverside and has an occupancy rate of 93 percent.
TSB Realty Closes Sale of Student Housing in Sacramento
Built in 2003 and renovated in 2016, The Element includes 288 units and 792 beds. The property is located near California State University Sacramento.
Twin Cities Affordable Housing Portfolio Sells for $77M
Investors Aeon, the NOAH Impact Fund and Enterprise Community Investment purchased the 10 properties. The apartments will continue to welcome low-income renters.
Strategic Property Partners Unveils Plan for Tampa Towers
The company tapped Kohn Pedersen Fox to design 815 Water St., a dual-tower building that will be one of the first new condo projects in Tampa within the last 10 years.
Far North Dallas 420-Unit Community Lands Refi
Working on behalf of Lantower Residential, HFF arranged a 10-year, fixed-rate loan for The Cortona, a 420-unit multifamily property in Fairview, Texas.
Newly Built FL Community Lands $43M Refi
The new loan assumes part of the original construction loan and provides additional financing to cover the stabilization of the property. Berkadia arranged the deal on behalf of the borrower.
Northland Buys Echo Lake in Bradenton, FL
The company has purchased the 360-unit, Class A community, which was completed earlier this year and is managed by Lincoln Property.