Deals
Trammell Crow, HQ Capital to Develop Inland Empire Apartments
The 211-unit, transit-oriented Alexan Montclair was designed by Architecture Design Collaborative and construction is expected to start immediately.
Castle Lanterra Sells $50M Chicago Community
The 424-unit Midpointe underwent extensive upgrades to both the interiors and exteriors, including the addition of a resident lounge and fitness center created from underutilized storage space.
Chestnut Hill Sells 17-Unit Cambridge Community
Situated within walking distance of Harvard University and the Massachusetts Institute of Technology, the multifamily property traded for $11.9 million.
Hines to Enter Italy’s Student Housing Market
The company plans to develop a student housing community that will offer 600 beds, including micro-housing units, located near Bocconi University.
Marcus & Millichap Arranges Sale of 3 CO Assets
The properties in the transaction include Elm Grove and Shadow Tree—which the buyer plans to renovate—as well as Fitzsimons Place, all located in Aurora, Colo.
CBRE Brokers Sale of 144-Unit SC Community
Beacon Ridge in Greenville traded for $14.6 million. Represented by CBRE’s Kevin Kempf, Parker Yates, David Lansbury and Phil Brosseau, Grubb Properties sold the asset to PRG Real Estate.
Top 10 Multifamily Buyers in the Mid-Atlantic
Investment activity in the region was high last year, recording more than $6 billion in transaction volume, with names such as Morgan Properties and Pantzer Properties leading the way.
Townsend Group Secures 2 in Atlanta Suburb
The company acquired ARIUM Kennesaw and ARIUM Kennesaw Villas, totaling 524 units. Carroll Organization purchased the properties in 2015 as part of Carroll Multifamily Real Estate Fund III LP.
JV Buys 432-Bed TX Community
Campus First Student Living and CF Real Estate Services are planning major renovations at the 120-unit student housing community, including upgrading the fitness center equipment and adding private study areas, an outdoor kitchen and other landscaping improvements.
Ft. Lauderdale Class A Asset Trades for $53M
Urban Street Development and Fazio Properties recently completed 191-unit luxury community, which is in the city’s urban core. The property was 95 percent leased at the time of the sale.