Deals
Forest City Trades Brooklyn Property for $156M
Principal Global Investors acquired 461 Dean, a 363-unit community—50 units of which are affordable—that opened in late 2016.
Transactions: April 2018
The following is a list of transactions that were announced between February 22 and March 6, 2018.
Carmel Partners Sells $129M Upscale Denver Property
Westend, a 390-unit property built in 2015, was 93.5 percent occupied at the time of the sale.
GEM Property Management Exits St. Louis in $180M Sale
The nearly 2,000-unit portfolio sale is the largest multifamily transaction in the city’s history, encompassing six communities in southern St. Louis County.
Greystar Buys $84M CA Property
The firm acquired Pacific Court Apartments, a transit-oriented and value-add property in downtown Long Beach. The buyer plans to upgrade the interior as well as the communal area amenities.
LA-Area Property Sells for $45M
Berkadia brokered the sale of Sunset Plaza, a 183-unit property located in West Covina. The firm represented both the seller and the buyer in the transaction.
S2 Capital Expands Houston Footprint
The nearly 800-unit property, built in 1973, includes a mix of one- to three-bedroom apartments. The new owner plans to upgrade the community’s units and amenities.
Raleigh-Area Property Trades for $43M
The new owner, a joint venture between DRA Advisors and Fogelman Properties, plans to implement both in-unit and amenities upgrades.
Rittenhouse Realty Sells 120 Units in DE
Constructed in 1975, the Wilmington community includes 118 units, a swimming pool and 240 parking spaces.
Campanelli, Thorndike Sell MA Luxury Asset for $54M
East Main Apartments, located between Providence and Boston, features 188 units. Campanelli Construction completed the Class A community in 2017.