Deals
Pittsburgh Community Changes Hands
The 124-unit Class C property was sold for nearly $5 million. The new owner financed the transaction with a $7.5 million acquisition and development loan.
TruAmerica Expands Salt Lake City Footprint with $46M Buy
The 253-unit Country Lake in Silicon Slopes is the company’s fourth community in the metro. The new owner has plans to renovate the 1973-built property.
SoCal Affordable Community Changes Hands
The 60-unit fully affordable property fetched a price tag of $3 million, with the buyer landing $2.7 million in acquisition financing.
Standard Communities Nabs Affordable RI Asset
Following the acquisition, the company intends to perform an extensive rehabilitation of the 106-unit Curtis Arms Apartments in Providence.
Boston-Area Community Preserves Affordability for Next 40 Years
Asian Community Development Corp. purchased the Martensen Village in Quincy, mass. The new owner acquired the property under a state law that prevents it from being sold and converted into a market-rate community.
Value-Add University District Portfolio Commands $20M
The two student housing buildings are located on high-rise-zoned land, which is hard to find in Seattle.
San Antonio Student Community Changes Hands
Arrimus Capital financed the acquisition of the 498-bed property with a nearly $25 million Freddie Mac loan originated by Walker & Dunlop.
Berkadia Represents Both Parties in $33M Miami Deal
Senior Director Tal Frydman, Director Yoav Yuhjtman and Associate Director Nicholas Perrone of the company’s South Florida office brokered the sale of the 234-unit Park Plaza Apartments.
Orlando Apartments Sold for $48M
Cushman & Wakefield arranged the sale of the 296-unit Canopy Apartment Villas to Taurus Investment Holdings on behalf of Robbins Property Associates and LEM Capital.
Avanath Pays $72M for 2 Chicago-Area Affordable Communities
The company acquired Hinsdale Lake Terrace for $63 million from the Laramar Group, and paid $9.2 million for Drexel Court, which it acquired from DMI Real Estate Group.