Deals
Fairfield Residential Sells 133-Unit Boston Asset
CBRE facilitated the sale of Baker Chocolate Factory Apartments, a three-building property converted for residential use in the 1980s.
PAC Buys Apartment Community in Jacksonville
The newly-acquired community is adjacent to another one owned by PAC, bringing the company’s current area footprint to more than 500 units, while also creating operational efficiencies.
HFF Secures $165M Refi for 2 San Diego Communities
The assets are part of Sunroad Enterprises’ 40-acre, master-planned community, which will include 1,622 multifamily units and 856,000 square feet of commercial space upon completion.
Camden Snags St. Petersburg Community
The company acquired the newly constructed property for approximately $127 million. Previously known as Aer Luxury Apartments, the asset will be rebranded as Camden Pier District.
St. Petersburg Community Sells for $46M
The 481-unit community traded to a New York-based buyer. The sale price equates to $96,000 per unit. IPA arranged the sale on behalf of the seller and procured the buyer.
Manhattan Conversion Project Lands $130M
Eastern Consolidated arranged the construction loan on behalf of Delshah Capital for its adaptive reuse project, which will transform a medical facility into a luxury community in Morningside Heights.
Aurelie Capital Spends $20M in Richmond
Millspring Commons, a 159-unit community in Virginia, is the new private equity firm’s first acquisition. The company plans to add value by finishing a renovation program started by the previous owner.
Berkadia Facilitates $52M Loan for VA Luxury Project
The upcoming 450-unit luxury community will be situated in Fredericksburg, Va., along Jefferson Davis Highway. The Breeden Co. estimates a total investment of $85.5 million.
Out-of-State Investor Grabs Baltimore Apartments
Sage Management sold the 56,000-square-foot Windsor Arms in a deal facilitated by SVN REALSITE. The community includes market-rate and subsidized units.
CBRE Secures $321M Portfolio Sale
The nine-property portfolio includes communities located in Indianapolis, Memphis, Tenn., Oklahoma City and Cincinnati, totaling 1,803 units. Milhaus developed, constructed and managed the majority of the portfolio.