Deals
Geller Associates Buys $23M Charlotte Apartments
Hunt Real Estate Capital provided a $18.3 million Fannie Mae DUS loan to finance the acquisition of Fields at Archdale, a 243-unit garden-style community.
Drucker + Falk Buys 396-Unit Hampton Roads Asset
Federal Capital Partners sold the Newport News community for $46.7 million after a 7-year holding period. The new owner is planning on implementing several upgrades.
Red Capital Arranges Loan for Historic PA Conversion
The $7.8 million financing will be used to transform a century-old tobacco warehouse in Lancaster County into Tobacco Road Apartments.
Maxus Realty Trust Sells MS Community
Berkadia represented the seller in its disposition of Mallard Creek Apartments, located in Horn Lake. The previous owner bought the property in 2015 for $8.2 million.
Praedium Group Acquires GA Community
The 500-unit multifamily property is spread across 22 three- and four-story buildings in Newnan, Ga.
CBRE Facilitates $14M Loan for Recently Built NC Community
Kristen Reilley and Nate Sittema led capital markets efforts to secure a 10-year, fixed-rate acquisition financing for Beaucatcher Flats in Asheville.
CBRE Brokers $93M Denver Community Sale
Dan Woodward, David Potarf and Matthew Barnett worked on behalf of the seller, a joint venture of TruAmerica Multifamily and Investcorp.
Miami Beach Community Lands $5M Loan
Eastern Union Funding arranged the financing for the acquisition and conversion of a 12-unit building into 18 short-term rental apartments. BridgeInvest provided the loan.
Burlington Capital Sells FL Portfolio for $37M
The portfolio included the 240-unit Lake Forest Apartments and the 144-unit Jade Park, two communities located side by side in Daytona Beach. Marcus & Millichap brokered the deal.
FCP Sells Multifamily Assets to Reliant Group for $71M
The sale of the three properties marks the final disposition of FCP’s St. Charles Portfolio, which the company originally acquired in 2009.