Deals
Affordable FL Community Lands $23M
Dougherty Mortgage arranged the financing for the acquisition and rehabilitation of the 336-unit Seven Palms Apartments in Punta Gorda. Dominium purchased the property from Alliant Capital.
Hamilton Zanze Snags 518-Unit CT Portfolio for $63M
The two communities located in the Westlake District of Middletown, Conn., changed hands in a deal brokered by IPA.
Waypoint Residential Buys 194-Bed GA Community
The 146-unit student housing property serves those attending Mercer University and includes 12,000 square feet of retail and a 3,800-square-foot clubhouse.
American Landmark, Electra America Acquire Tampa Community
The companies purchased Waters Edge, which will be rebranded as WestEnd at 76Ten and undergo more than $1.5 million in renovations.
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.