Deals
HPI Sells Portfolio for $278M
The properties comprise 2,954 units across 11 communities in five states. A private investor purchased two of the Atlanta assets and a publicly traded REIT acquired the other nine properties.
Iconic Cleveland Building Changes Hands for $40M
Institutional Property Advisors, a division of Marcus & Millichap, brokered the sale of the 295-unit Statler Arms. Michael Barron, Joshua Wintermute and Daniel Burkons represented the buyer.
Origin, Aegon Invest $71M in Denver
The 320-unit Advenir at Saddle Rock offers 20 four-bedroom units, a rarity for the area. To improve the 2002-built property, the new owners plan to invest sizable capital.
Dougherty Secures Dallas Acquisition Loan
The company closed on the 12-year Fannie Mae financing in partnership with Old Capital Lending. The 106-unit garden-style community sits less than one mile from Interstate 35E.
JVM Snaps Up 138-Unit Downtown KC Community
The investment and property management firm acquired Apex on Quality Hill, a luxury asset in Missouri’s largest city. The company also owns and manages Apex’s sister property, located one block away.
Kennedy Wilson Snags 2 in Salt Lake City for $93M
The firm is planning on initiating its value-add asset management plan on both properties, Santa Fe in Cottonwood Heights and Creekview in Midvale, investing $5.3 million.
Berkadia Lends a Hand in $21M Atlanta Sale
Managing Directors Paul Vetter and Andrew Mays, Senior Director Judy MacManus and Director Matthew White worked on behalf of the seller, HandyTrac Systems.
Carmel Partners Expands Into NJ
Marking the firm’s first investment in the state, the company purchased Hunters Glen in Plainsboro Township and plans on updating interiors, renovating the exterior and improving amenities.
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.