Cities
HFF Secures $50M Loan for NJ Community
The company arranged the long-term fixes-rate loan on behalf borrower Capodagli Property Co. The 222-unit transit-oriented community offers convenient access into New York City and other major employment hubs.
PAC Sells 300-Unit Dallas Community
Steadfast Cos. paid about $44 million for Enclave at Vista Ridge, a Class A community located in a northwestern suburb of Dallas. The sale was subject to a $29.1 million Fannie Mae loan.
Richmond Assets Trade for $6M
Marcus & Millichap brokered the sale of The Park at Forest Hill and Chateau de Ville, two properties totaling 119 units. The communities are located within a three-minute drive of each other.
Optima Tops Out on Scottsdale Luxury Condo Tower
Move-ins for first residents at 7120 Optima Kierland are scheduled for early 2018, while all residences are expected to be completed in August 2018.
IRET Acquires $62M Minneapolis Community
The company acquired a Minneapolis community, located in one of St. Paul’s most vibrant neighborhoods. The property was 45 percent pre-leased as of April.
Dougherty Mortgage Closes $6M Student Housing Loan
Dougherty Mortgage closed a 12-year term loan for the acquisition of Millennium on Post, a student housing located minutes away from the Texas State campus.
Capital One Brokers $9M Loan for SC Community
The loan was used for the acquisition of The Terrace at Butler, a 132-unit property in Greenville. New York-based Ladder Capital provided the loan for Engel Realty Co.
Phoenix Community Changes Hands in $82M Deal
The new owner of Andante Apartments plans interior upgrades, as well as renovations of the clubhouse. The asset has an occupancy rate of 92.5 percent.
Lake Union Partners Acquires $23M MidTown Center
The company partnered with Forterra to develop the site and plans to include approximately 520 to 555 apartments. Approximately half of the units will be affordable.
Pure Snags $48M Phoenix Asset
The 264-unit Pinnacle at Union Hills previously traded in 2014, when TA Associates Realty acquired the Class A asset from JP Morgan Asset Management for $36.3 million.