Deals
Baron Properties, Buchanan Street Sell $44M Phoenix Community
Vue Park West, which the joint venture acquired in 2014 for $30 million, is situated within the 250,000-square-foot Park West mixed-use development.
Rincon Partners Buys $22M Community in Phoenix
Previous ownership implemented a thorough renovation program in 2015. The asset traded at almost four times the original purchase price.
DIJ Properties Enters Arizona Market
The company plans to implement a large renovation program for the 1987-built community to unlock value for investors and improve the residents’ living conditions.
McDougal Sells 3 Northwest TX Communities
The properties, located in Lubbock, comprise more than 1,150 units. Transwestern brokered the deal on behalf of the seller and sourced the buyer.
Berkadia Brokers Midwest Portfolio Sale
The four communities are located in Illinois, Indiana and Wisconsin and sold for $41.5 million. Alex Blagojevich, Ralph DePasquale, Chris Bruzas and Parker Stewart represented the seller.
306-Unit Community Trades Near Indianapolis
Tikijian represented the seller, developer and manager of the asset. Flaherty and Collins will take over property management on behalf of the new owner.
Olympus Property Launches 8th Fund
The firm added 869 units to its portfolio with the purchase of Olympus Steelyard in Chandler, Ariz.; Sundance Creek in Midland, Texas; and Sedona Ranch in Odessa, Texas.
Sares Regis Picks Up San Diego Asset
The company financed the acquisition of the 344-unit property with an $80 million loan, which will also be used to fully redevelop it.
Interra Realty Arranges Chicago Community Sale
Managing Partner Brad Feldman and Director Adam Saxon represented the buyer of a vintage 32-unit building located in the Uptown neighborhood.
Transactions: May 2018
The following is a list of transactions that were announced between March 7 and March 26, 2018.