Deals
CPP Buys 2 Salt Lake City-Area Affordable Properties
The assets, totaling 98 units, traded for $14.3 million. The firm succeeded in fully integrating the communities into the Section 8 housing program.
Alpha Wave Goes Shopping in Vegas
The company acquired Cypress Springs Apartments, located where new supply is somewhat limited compared to the metro’s other areas. The firm will invest approximately $1.7 million in capital improvements.
Kiser Group Brokers Sale of Chicago-Area Community
Principal & Managing Broker Lee Kiser and Broker Matt Halper facilitated the transaction of 345-unit Blue Station Apartments in Blue Island, Ill.
Phillips Realty Capital Secures $40M for TX Property
Weinstein Properties’ acquisition of Century Lake Forest in McKinney, is the company’s third in the Dallas Metroplex and ninth in the state.
NYC Developer Obtains $46M Loan to Build Kips Bay Condos
Forkosh Development Group’s newest project is a 20-story residential building in the Manhattan neighborhood. The site, formerly three small apartment buildings, was purchased earlier this year for $17 million.
JV Buys 240-Unit Baltimore-Area Community for $50M
Morgan Properties and Core Real Estate Partners have acquired Orchard Meadows, located in Ellicott City, as a value-add investment. The community will undergo more than $2 million in upgrades.
Titan, Investcorp Trade Atlanta Community
ECI Group acquired the 410-unit asset located in the city’s West Chamblee submarket. The property offers one- to three-bedroom apartments ranging from 950 to 1,435 square feet.
Transactions: June 2018
The following is a list of transactions that were announced between March 30 and April 20, 2018.
ARA Newmark Brokers Record-Setting Deal
Director Robert Bratley and Associate Director Marcus Griffin facilitated the $12 million sale of the boutique apartment building in downtown Denver’s Capitol Hill neighborhood.
Transcontinental, Adobe Break Ground on Dallas Community
The Lakeside Lofts luxury community will be situated within the Mercer Crossing mixed-use development, which is set to encompass 1,200 acres of office, restaurants, hotels and single family homes.