Deals
PAC Sells $43M Suburban Raleigh Asset
Built in 1997, the 328-unit Lake Cameron was the oldest property in the company’s portfolio, having most recently traded in 2006 for just above half the current price.
JV Buys 400 Units in VA
The partnership acquired 77 buildings of the total 95 at the Newport News community. The acquisition is the fourth for Brick Lane in this area, and the first for Red Starr in the last five months.
Interra Realty Closes Sale of Vintage Chicago Community
The 12-unit Avondale multifamily property sold for $2.8 million. The price per unit set a new record for vintage apartment buildings in the neighborhood.
TMG Facilitates Sale of California Community
The property located in Visalia, Calif., traded to a Santa Barbara-based private investment group for $19.2 million, which equates to $131,507.
Prana Investments Buys 3 in LA for $18M
The portfolio acquisition is a value-add transaction, with the firm planning to invest in renovations at the communities.
AZ Asset Trades for $20M
Completed in 1990, the 312-unit Rio Santa Fe Apartments is the second-largest community in Yuma and is located within easy reach of several retail and dining options.
Marcus & Millichap Brokers Sale of FL Community
The firm arranged the sale of the 44-unit Golf Meadow in Fort Myers, Fla. on behalf of the seller, a private investor.
Marcus & Millichap Arranges 4-Property Portfolio Sale
The Orange County portfolio, which includes a total of 214 units in Santa Ana, traded to an affiliate of Empire USA for $42.5 million.
Tryko Partners Buys Philly-Area Skilled Nursing Facility
The 129-bed facility, located next to the Fitzgerald Hospital in Yeadon, Pa., provides post-hospital care, short-term rehab and long-term residential care.
Atlantic | Pacific Expands in Atlanta With $36M Buy
The company used its Blue Atlantic Partners II investment fund to acquire the 240-unit asset, and it plans to renovate the property.