Deals
Nashville Project Lands $32M Construction Loan
Buckingham Cos.’ luxury community, which opened its doors in 2017, is growing by 296 apartments. U.S. Bank provided financing for the second phase.
STAR Real Estate Ventures Lands $323M Refi for 13-Property Portfolio
Berkadia arranged a 7-year, fixed-rate loan for each property in the portfolio, which totals nearly 4,000 units across seven states throughout the Southeast and Midwest.
Timberland Partners Acquires 2 Memphis-Area Properties
The firm purchased Savannah Creek in Southaven, Miss., and The DeSoto, in Horn Lake, Miss., bringing its total portfolio to 14,966 units in 15 states.
Fort Lauderdale-Area Community Trades for $59M
Bar Invest Group Inc. scooped up the 405-unit apartment property in the suburb of Lauderhill, Fla., from Turner Impact Capital. HFF brokered the sale of the 24-building project built in 1989.
JV Closes on $228M Community Near Amazon HQ2
Polinger Development Co. and a partner have acquired Meridian at Pentagon City, a 534-unit property in Arlington, Va.
Luxury Community Changes Hands in Tampa
An affiliate of Nuveen Real Estate has acquired the 366-unit multifamily property located in Hillsborough County. Newmark Knight Frank represented the seller in the disposition.
Contour Development Pays $94M for Alabama Portfolio
Cushman & Wakefield arranged the sale of the three properties—The Park at Buckingham, The Park at Callington and Carlyle—for a Texas-based real estate firm which had owned the portfolio for five years.
Denver Rental Property Commands $62M
Gelt Inc. has acquired the 384-unit Cedar Run Apartments from Maxx Properties. The new owner plans to upgrade both apartment interiors and common spaces at the property.
Tampa Bay Community Trades for $32M
Balfour Beatty Communities has acquired the 278-unit property as part of a joint venture. The company’s Florida portfolio has increased to more than 3,500 residences.
Wallick Secures $49M for Ohio Properties
Merchants Capital arranged the bridge financing for three assisted living properties totaling 363 units in Columbus and Cincinnati, as demand for affordable senior housing grows more acute.