Deals
FL Luxury Conversion Sells for $35M
Waypoint Residential traded the 288-unit multifamily asset in Tallahassee after converting it from student housing. Newmark Knight Frank represented the seller and procured acquisition financing for the buyer.
IPA Arranges $27M Seattle-Area Asset Sale
Almost half of the community’s 134 units were recently renovated. The previous owner rebranded the property, formerly known as Rainier Meadows.
BRT Sells Houston Portfolio for $33M
The REIT had owned the 240-unit Stonecrossing and the 144-unit Stonecrossing East since 2013 and repositioned them through a value-add improvement program.
IPA Facilitates $38M Sale of Tucson Community
The 289-unit Domain 3201 features more than 600 feet of frontage along one of Tucson’s major thoroughfares. The property was 96 percent occupied as of June.
San Francisco Condo Project Lands $77M Construction Loan
The 109-unit development at 1554 Market St. is scheduled for completion in 2021 and will have two 12-story buildings that will also feature 5,010 square feet of retail space.
Bucci Development Sells South Carolina Apartments
Cushman & Wakefield represented the seller in its disposition of The Village at Lake Wylie, a 392-unit property in Charlotte’s submarket of Lake Wylie, S.C.
Boston-Area Community Scores $49M in Affordable Financing
Developer WinnCompanies acquired the 284-unit property, a converted industrial leather tanning complex in Peabody. The deal ensures the apartments will remain accessible to low-income families.
Tucson Community Changes Hands
Next Wave Investors sold Orange Tree Village Apartment Homes for nearly $16 million, after implementing a capital improvement plan at the property.
Orange County Property Commands $98M
A private investor scooped up the 264-unit, Class A asset in Santa Ana, Calif. Built in 2016 by Lyon Living and Integral Communities, the multifamily property includes 10 affordable units.
Community on Atlanta BeltLine Trades for $66M
Ghitis Property Co. acquired Ayla on Krog from PGIM Real Estate. The recently completed, 222-unit apartment property is located in the Inman Park neighborhood, fronting the city’s popular public trail.