Deals
Napali Acquires 3rd Atlanta Asset
The company plans to invest in structural improvements, in-unit upgrades and property rebranding. Strategic Management Partners will handle operations at the community.
IPA Brokers $20M Value-Add Sale in Tucson
The new owner will capitalize on the improvements made by the seller, which led to an 18.5 percent increase in the average monthly rent, compared to last year.
Prudent Growth Fetches 110-Unit NC Asset
Senior Investment Advisor Nathan Vaughan of Waterstone Multifamily Group brokered the transaction, which marks the company’s first acquisition in the eastern part of the state.
Hunt Mortgage Secures $2M Refi of Age-Restricted Property
The 55-plus community in Boise, Idaho, features 57 units. Freddie Mac provided the $1.8 million refinancing with a 30-year amortization schedule.
CA Senior Housing Sells for Record $16M
Parkwood at Polo Grounds has changed hands in a record sale for apartment communities in Indio, Calif. The age-restricted community features 125 units.
Champion Snaps Up 2 in Glendale
Champion Real Estate Co. acquired the 42-unit Princess Louise and 62-unit Windsor Real. The company has plans for a variety of upgrades to each of the properties.
Mogharebi Completes Sale of LA Community
Loma Vista Apartments, located in the Pacoima neighborhood of Los Angeles, changed hands for nearly $11 million. Mogharebi represented the seller and the buyer in the deal.
Old Adobe Management Sells $26M CA Community
Acting on behalf of the seller, Levin Johnston brokered the record-breaking price-per-unit sale of Velocity at Lawrence Station, which commanded $465,250 per apartment.
Capstone Expands TX Footprint
The 10th-largest affordable housing management company added more than 800 apartment units to its portfolio, extending its reach to nearly 80 cities.
The Praedium Group Acquires TX Community
Located in the Dallas-Fort Worth suburb of Grapevine, the 291-unit Terrawood comprises one- to three-bedroom apartments and amenities such as a salt water pool and glass-encased conference center.