Deals
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.
HFF Secures $10M Financing for AZ Community
The apartment community is located with multiple golf courses and parks. According to Yardi Matrix data, monthly rent averages $1,008.
Cameron Properties Sells Inland Empire Community
The property, featuring a mix of affordable rental units with street-level retail space, sold for nearly $5 million to a private investor.
HFF Brokers CO Community Sale
HFF Managing Director Jordan Robbins, along with Directors Jeff Haag and Anna Stevens, represented the seller—a joint venture of Holland Partner Group and North American Sekisui House LLC.
ABI Brokers $4M Sale of Phoenix Community
ABI represented both parties in the transfer of Tres Arcos Apartments, a 1969-constructed, seven-building apartment community in the Biltmore submarket.