Deals
North FL Affordable Housing Portfolio Changes Hands for $51M
The portfolio includes four communities totaling 768 units across three of Jacksonville’s submarkets. The new owner, Millenia Housing Management, plans to invest $40 million in capital improvements.
Western Wealth Capital Moves Into Atlanta
The company acquired its first property in the area, with the $22 million purchase of the 200-unit community in the metro’s Jonesboro/Bonanza submarket.
Sundance Bay JV Buys St. Louis-Area Community
Shore to Shore Properties was the seller of the 318-unit Class C multifamily asset. The buyer financed the purchase with a $13 million loan from Grandbridge Real Estate Capital.
FPA Grabs Age-Restricted Inland Empire Community
Positive Investments, which picked up the 177-unit Class C property in 2016 for $11.9 million, traded the asset for more than $14 million.
JV Lands $156M Financing for VA Property
HFF arranged the floating-rate loan for Modera Avenir Place on behalf of the owner, a partnership between Mill Creek Residential Trust and institutional investors advised by J.P. Morgan Asset Management.
CAG Acquires South Fla. Site for Luxury Multifamily Project
The firm plans to break ground on the 256-unit luxury community South Daytona Beach, Fla., in March 2019 and have it ready for occupancy in 2020.
Transactions: November 2018
The following is a list of transactions that were announced over the month September, 2018.
CBRE Brokers $56M Denver Portfolio Sale
Laramar Group purchased The Rise, The Edge and The Vue in Cherry Creek. David Potarf, Dan Woodward and Matthew Barnett represented the seller, Granite Peak Properties.
Dallas-Area Community Changes Hands
The 68-unit community in Carrollton, Texas, has a mix of studio, one-, two- and three-bedroom units. The asset was recently renovated.
Passco Nabs NC Community for $57M
The Asheville Exchange acquisition marks the company’s first foray into the emerging Asheville, N.C. market.