Deals
DC-Area Communities Receive $65M in Financing
HFF helped secure financing for four properties in the Washington, D.C., area. The apartment communities are situated just 30 minutes from downtown and total 920 units.
Northland Expands Its FL Portfolio
The company purchased Element, a 395-unit residential tower in downtown Tampa. The property marks Northland’s fifth purchase within the last five months.
Waterton Acquires Miami Community for $59M
Soleste West Gables Phase II is an eight-story, 221-unit Class A apartment community in West Miami, Fla. The company secured the property from a joint venture of Estate Investments Group, Fortune Capital Partners and the Mattoni Group.
Greysteel Brokers Sale of 814-Unit Dallas Portfolio
Forest Cove features 656 units and North Creek includes 158 units. Greysteel Managing Directors Doug Banerjee and Boyan Radic, Senior Investment Associate Andrew Mueller and Investment Associate Andrew Hanson negotiated the sale.
IPA Brokers Sale of Rio Grande Valley Asset
Executive Director Will Balthrope, Senior Director Drew Kile and Associates Jordan Featherston and Joey Tumminello represented the seller and procured the buyer, Presidium. American Agape Foundation is the former owner of the 288-unit property in Harlingen, Texas.
Berkadia Secures $47M Refi for DC Property
The proceeds were used to refinance existing debt and to pay off an 8 percent pre-payment penalty. The loan was secured through the HUD 223(a)(7) Loan Program.
Denver Luxury Asset Trades for $122M
HFF marketed the 465-unit property on behalf of the seller, Lennar Multifamily Communities, and procured the buyer, Starlight Investments.
Marcus & Millichap Arranges Sale of VA Community
The 40-year-old, 22-building community commanded $75,000 per unit. A private investment entity based in New York purchased the 160-unit asset in Virginia Beach.
FCP Snags 4th Charlotte Community
The company paid $22 million for Hunters Pointe Apartments, 386-unit community in the University area. Capstone Apartment Partners represented the seller, Asia Capital Real Estate.
Suburban Philly Property Trades for $34M
The apartment community was part of the Rental Assistance Demonstration program and received a 20-year subsidy contract. The previous owner improved multiple aspects of the 1950 buildings.