Deals
PRG Group Buys Luxury Charlotte Community for $49M
The Miller-Valentine Group finished work on the 280-unit property in late 2017, following a year and a half of construction.
Newly Built Jacksonville Community Trades for $54M
Hunt Real Estate Capital provided the buyer, EBSCO Income Properties, with more than $36 million in Fannie Mae acquisition financing.
Phoenix-Area Affordable Property Changes Hands
Atlantic Development & Investment sold the 184-unit asset in a 1031 exchange for nearly $23 million. The Canadian Imperial Bank of Commerce provided acquisition financing.
Luxury Community Changes Hands in KC
Union Berkley Riverfront Park includes 407 units and 12,400 square feet of retail space. Flaherty & Collins Properties broke ground on the project in 2016 and completed it in 2018.
VA Community Trades in 1031 Exchange
Capital Square 1031 acquired Woodshire Apartments in Virginia Beach, Va., in a 1031 tax-deferred exchange. The property encapsulates 288 units across 20 buildings.
Marcus & Millichap Facilitates Chicago Sale
The firm has brokered the transfer of an 81-unit community located in Chicago’s Rogers Park neighborhood, approximately 11 miles from downtown.
Newly-Constructed Houston-Area Community Changes Hands
Oxford Enterprises Inc. purchased the 224-unit property located in Waller, Texas, from T.R. Inscore in a transaction facilitated by Institutional Property Advisors.
JLL Negotiates Historic NC Multifamily Deal
The firm worked on behalf of Novare Group to handle the $200 million sale of a two-tower community encompassing 672 units in Charlotte’s coveted Fourth Ward Uptown district.
Cottonwood Residential Sells Nashville Apartments for $40M
The new owner rebranded the 327-unit Class B community as Allegro on Bell, with SunTrust Bank facilitating the acquisition through long-term financing.
Dornin Investment Group Repositions Las Vegas Asset
The company obtained the asset in 2017, following the 2013 foreclosure of a CMBS loan. In the 18 months under its management, the community received several exterior and interior renovations.