Deals
InvestRes Buys 148-Unit Sarasota Community
The new owner revealed plans for a capital improvement program, which will include new signage, refurbished amenities and enhanced apartment interiors.
Cortland Adds 319-Unit Community to Atlanta Portfolio
The company increased its multifamily footprint in the city to more than 11,000 apartments with the acquisition of Domain at Phipps, a Class A rental property in the Buckhead neighborhood.
NorCal Apartments Change Hands
Burbank Housing Development purchased the 56-unit Class C community for $15 million. Two lenders facilitated the transaction with acquisition and development financing.
Hamilton Point Investments Sells OH Asset
The Enclave at Albany Park in Westerville commanded nearly $15 million. The new owner assumed the outstanding balance of a Fannie Mae loan attached to the property.
Fully Affordable Community Changes Hands in Brooklyn
The 107-unit asset is located at 1701 W. 3rd Street, in the borough’s Gravesend submarket. Morris Weintraub Associates sold the property to Parkoff Organization for $28 million.
Equity Residential Acquires $111M Denver Asset
The 18-story community is situated in Denver’s Golden Triangle neighborhood, offering convenient access to various dining, shopping and entertainment venues.
Westside Capital Buys Jacksonville Property
The 176-unit multifamily asset changed hands for $13.2 million, which is more than 50 percent higher than the seller’s acquisition cost in 2014.
NJ Mixed-Use Development Site Commands $48M
Meridian Investment Sales represented both parties in the deal for the 3.4-acre lot, which will be turned into five buildings consisting of 477 residential units and some 23,000 square feet of retail space.
Trinity Real Estate Sells Atlanta-Area Community
The buyer paid $11 million for the 352-unit Class C asset, with Arbor Realty Trust providing $12.5 million in acquisition and development financing.
5-Building St. Louis Community Changes Hands
The 104-unit Tuscany Village, built in 1972, last traded in 2014 for nearly $3 million, six months after a foreclosure action.