Cities
LA Investor Snags $107M Suburban Denver Portfolio
Gelt’s acquisition includes two assets in Lakewood: the 408-unit Ascend at Red Rocks and the 172-unit Elevate at Red Rocks.
Kennedy Wilson Sells $109M Seattle Asset
The 576-unit property was 97.9 percent occupied as of May. The company purchased the asset in 2014 for $57.8 million from Holland Partners.
Trion Properties Acquires Portland Community
The acquisition of the 67-unit community marks the company’s fifth purchase in the Portland, Ore., region. Trion Properties plans to implement a series of renovation made to the exterior, as well as to the interiors.
Marcus & Millichap Closes on Illinois Multifamily Sale
The community is located in Mount Prospect, Ill., and consists of three 14-unit buildings. The units offer a mix of one- and two-bedroom layouts of 650 and 850 square feet respectively.
On the Market: 5 Interesting Listings for the Week of 7/03/17
This week’s listings include a recently renovated community in San Antonio and a rustic condo asset located right off the slopes in Steamboat Springs, Colo.
Strawberry Fields Refinances TN Skilled Nursing Facilities
The $27.2 million HUD guaranteed loans from Capital One Multifamily Finance have a 35-year term at a 3.43 percent fixed interest rate. The REIT acquired the three properties last year.
St. Louis Gears Up
Despite a slowly declining population, the city continues to see positive economic trends driven by job gains in education and health services, leisure and hospitality, and professional and business services.
Phase 2 of Brooklyn Affordable Project on Track
A joint venture of The Hudson Cos. and BEC New Communities has closed on the financing and acquisition of BEC Continuum Resyndication, which includes 550 units across 43 properties.
TruAmerica Makes 3rd FL Investment
The company purchased the metro Miami community from a joint venture of Robbins Electra and LEM Capital. It plans on making significant upgrades to all unit interiors as well as amenity spaces.
Berkadia Facilitates Atlanta-Area Sale
The company brokered the sale of a 102-unit community which includes an array of state-of-the-art amenities. The property traded for $15.2 million.