Deals
Security Properties Buys $85M Portland Asset
The buyers plan to upgrade common areas and unit interiors at the pet-friendly community, which was 92.8 percent occupied as of July.
Inland Real Estate Buys Tampa Community for $22M
Carroll Organization traded Laurel Oaks Apartments, a 192-unit property located 11 miles from downtown Tampa. The sale price equates to $115,104 per unit.
CT Community Receives $20M Financing
CS Acquisitions Group recently acquired the 200-unit Cove West Hartford in a $20.9 deal and plans to renovate the property.
CBRE GIP, Madison International Purchase Spanish Portfolio
Valued at about $1 billion, the 6,458 rental units are located in Madrid and other major cities. Azora, the seller, will continue to manage the communities.
Brookfield Acquires 2 Bronx Development Sites for $165M
A joint venture between affiliates of The Chetrit Group and Somerset Partners sold the parcels, located at 101 Lincoln Ave. and 2401 Third Ave., in Mott Haven.
Hunt Real Estate Capital Arranges Refi for Vintage Chicago Asset
The new financing for the 1918-built community will be used to refinance its existing loan, while $1 million will be allocated to capital improvements.
JVM Realty Snags Suburban KC Asset
Acquired from The Milestone Group, the community is located 20 minutes from downtown Kansas City in Lee’s Summit, Mo. Renovations are planned for the property, JVM’s 10th in the metro.
Bronx Apartment Portfolio Commands $53M
Completed in the 1920s and 1930s, the three communities acquired by Lightstone Group total 233 units.
Greysteel Brokers Sale of Dallas-Area Property
The 154-unit community located in Irving, Texas, traded to a 1031 exchange buyer. The brokerage team worked on behalf of the seller in the deal.
Community Builders Secures $10M for Affordable Boston Development
TD Bank arranged the financing for The Clarion, and its Community Capital Group has also invested $9.2 million of equity in the project. Construction is scheduled for completion by 2019.