Deals
Marcus & Millichap Brokers Sale of FL Communities
The two-property portfolio located in Sarasota, Fla., traded to a 1031 exchange buyer for $9.5 million. The brokerage firm represented both parties in the deal.
FCP Expands Florida Portfolio
Situated in the Lauderhill submarket, Summit Palms features one- to three-bedroom units across four buildings. Avesta currently manages the asset.
Vesper Buys 2 GA Student Housing Properties
The company will allocate $3.2 million to property improvements for the 336-bed and 504-bed communities situated near the University of West Georgia.
North Park Ventures Plans Chicago Conversion
Interra Realty brokered the $13.7 million sale of the mixed-use building located near Wrigley Field. All 30 condominiums will be converted into rental apartments.
NHPF Lands $45M Affordable DC Asset
Woodmont Crossing Apartments marks the nonprofit’s fifth purchase under Washington, D.C.’s Tenant Opportunity to Purchase Act. The new owner plans a $7.4 million upgrade of the 176-unit community.
Olympus Property Buys SLC Community
Situated in one of Utah’s fastest-growing submarkets, Crossing at Daybreak features a mix one-, two-bedroom and three-bedroom units. The property will be rebranded.
Austin Community Sale Brings Investors Solid Rate of Return
Cypress Real Estate Advisors acquired Lakeshore Pearl Apartments. ARA Newmark represented the seller in the transaction.
CareTrust REIT Nabs Grand Rapids-Area Skilled Nursing Portfolio
In a sale-leaseback arrangement, the 464-bed, five-property ensemble traded for roughly $41.5 million including transaction costs.
Marcus & Millichap Facilitates Sale of 120-Unit FL Asset
Arbor Crest traded for $5.1 million. The firm’s Regional Manager Ari Ravi and Investment Specialists Francesco Carriera and Michael Regan marketed the property on behalf of the seller, Carlisle Development Group.
BEB Capital Grabs East Harlem Community
The eight-story luxury apartment development, which opened in East Harlem in 2016, contains 29 units above one street-level retail space.