Cities
HFO Investment Real Estate Brokers Portland Communities
MG Properties Group paid $60.5 million for Westview Heights, a 197-unit asset located in the city’s Bethany neighborhood. The 172-unit Binford Garden Townhomes commanded $30.8 million.
JV Breaks Ground on SF Student Housing Project
In addition to the new student community—a public-private partnership of SF State and the developers—the university will open a four-story academic building totaling 76,000 square feet.
Berkadia Brokers $48.5M Sale in West Palm Beach
The company has arranged both the sale and financing of Viera of the Palm Beaches, a 300-unit garden-style community.
Detroit Keeps Its Composure
Multifamily investors continue to focus on suburban Class B and Class C assets, with acquisition yields hitting double digits.
TA Realty Pays $138M for Orange County Asset
Seacrest is one of only four properties with more than 100 units in San Clemente, Calif. The asset changed hands with help from CBRE.
South OC Community Trades for $93M
TH Real Estate is the new owner of Avana San Clemente, a 250-unit property. The 17-building asset last traded three years ago.
Cushman & Wakefield Facilitates Houston Portfolio Sale
Justin Shuart and Jason Pumpelly, from the company’s equity, debt and structured finance team in Dallas, arranged the deal involving more than 2,100 units on behalf of Nicholas Residential.
HFF Arranges $41M San Francisco-Area Portfolio Sale
The properties include Atherton, Brewster Ames, Tivoli Gardens and Lancaster Arms, totaling 201 units. At the time of the sale, the communities averaged a 97 percent occupancy.
Tower 16 Acquires 4th Las Vegas Property for $30M
Along with its joint venture partner, Henley USA, the firm will invest $4 million to upgrade the community. Pinnacle will handle property management services.
Waypoint Residential Acquires 512-Unit FL Portfolio
The two communities, Riverside Apartments in metro Tampa and Harbor Cove Apartments in Gainesville, are both located within close proximity to major universities.