Deals
EJV Buys Vintage Property in FL
American Landmark purchased a 316-unit community in an equity joint venture with RSE Capital. The new ownership will invest an additional $3.5 million to bring the building to contemporary standards.
PA Community Changes Hands for $12M
The transaction is representative of the strong demand for multifamily assets in the Harrisburg-Carlisle MSA, a growing alternative market, according to Rittenhouse Realty Advisors.
Sundance Capital Group Buys Phoenix Asset
The 90-unit garden-style community last changed hands in 2016. The new owner intends to bring additional interior and exterior upgrades.
Manhattan High Line Portfolio Commands $28M
Cushman & Wakefield represented the seller, while JLL secured acquisition financing on behalf of the buyer. The four contiguous buildings comprise 26 apartments and four ground-floor retail units.
Paredim Partners Acquires $27M CT Community
The Arbors at Brighton Park in Bloomfield offers a resident clubhouse, a dog park and a swimming pool. Institutional Property Advisors represented the seller in the transaction.
Marcus & Millichap Brokers MN Property Sale
Evan Miller of the company’s Minneapolis office and the firm’s national group sold The Hillcrest Apartments in South St. Paul.
Dominion Realty Sells $69M NC Community
Centric Gateway in Charlotte is a 297-unit, newly completed mid-rise community with major street exposure. HFF brokered the deal on behalf of the seller.
Miami Asset Commands Record Per-Unit Price
Colliers International South Florida’s Gerard Yetming, Mika Mattingly, Mitash Kripalani and Julian Zuniga represented the seller in the deal and also procured the buyer. The sale price breaks down to $228,750 per unit.
Western Wealth Bullish on Phoenix, Adds 146 More Units
The Canadian firm has added another asset to its Phoenix portfolio. Connect on Union is situated near Loop 101 and was 95.9 percent occupied as of June 2018.
29th Street Capital Buys First SLC-Area Community
The company plans to invest approximately $10,000 per apartment to update Twin Trees Apartments’ 43 units and enhance the property’s exterior.