Deals
Former Durham Hotel to Become 342-Unit Community
Alliance Residential purchased Crown Park Hotel, the company’s first asset in the Triangle. Karl Hudson with Foundry Commercial represented the buyer in this $10.5 million transaction.
Waypoint Acquires Asset Near Chicago
KIG CRE arranged the sale of Two Itasca Place, a 70-unit property located in Itasca, Ill. The asset is one of Waypoint’s first acquisitions in the Midwest.
Bay Harbor Island Development Site Commands $21M
Colliers Senior Vice President Larry Stockton led the team that represented both the seller and the buyer in the transaction.
Harbor Group Nabs Orlando Asset for $97M
Berkadia arranged $66 million in financing for the firm’s acquisition of Elan Audubon Park, a 449-unit community spread across 12 buildings.
Cardinal Group Snags $35M CO Asset
TSB Capital Advisors arranged a $20.8 million, 10-year, fixed-rate term loan for the purchase of Uptown Broadway, a 116-unit community in Boulder. The loan was provided by KeyBank and is held by Freddie Mac.
PAC Expands Tampa Luxury Portfolio
The purchase of Overlook at Crosstown Walk was subject to a $22.2 million Fannie Mae loan. The property represents the second and final phase of Crosstown Walk, which the company acquired last year.
CRC Nabs $80M Buckhead Community
Millworks was completed earlier this year and its location facilitates residents’ access to employment opportunities, transit and education. The transaction represents a value-add investment for the company.
Inland Real Estate Lends a Hand in Colorado Sale
The brokers arranged the $36.1 million deal on behalf of an Inland affiliate. Landbank Investments was the seller.
Kennedy Wilson Buys $135M WA Community
The three five-story buildings offer a mix of studios, one- and two-bedroom units averaging 827 square feet. The community is close to various park, trails and hiking trails.
GFI Acquires Newly Built Dallas-Area Community
Davis Development sold Venue Craig Ranch, a 277-unit, garden-style multifamily property in McKinney, Texas. The buyer is an affiliate of GFI Capital Resources.