Deals
Philly Multifamily Portfolio Trades for $14M
The properties situated in Philadelphia’s University City changed hands for a total of $14 million. The locations offer residents access to the city’s attractions and employment centers.
Michaelson Lands 2nd TN Community in Less Than a Month
Michaelson Real Estate Group and Eklund Development acquired Viera Cedar Bluff, a 184-unit community in Knoxville. The deal is part of a portfolio that also included 520-unit community The Metropolitan.
ARA Newmark Closes Sale of San Antonio Community
The 320-unit Grand at the Dominion is located in northwest San Antonio and was 94 percent leased at the time of the transaction. The asset was acquired by Bluerock Real Estate.
Audubon Redevelops, Sells 3 Atlanta Properties
The company invested nearly $23 million in upgrades to the properties and sold the portfolio for $77 million. Cushman & Wakefield represented Audubon in the transaction.
Pure Expands TX Portfolio With $66M Acquisition
Alliance Residential sold Farmers Market Apartments, a 340-unit community in Dallas. The new owner plans to rebrand the property as PURE Farmers Market.
Berkadia Completes $35M Sale in SoCal
Metro 102 Apartments, an affordable apartment community in Ontario recently changed hands for $35 million. The purchase was capitalized primarily with foreign investment money.
Citymark Acquires 274-Unit Phoenix Asset
West Town Court is located near numerous employers, retail establishments and entertainment centers. Built in 2009, the community comprises one-, two- and three-bedroom residences.
McDowell Acquires DC-Area Apartment Community
CBRE brokered the sale of Carmel Alexandria, a Class A apartment community in Alexandria, Va. The property is situated near interstates 395 and 495, with downtown Washington, D.C. only 10 minutes away.
SC Community Changes Hands for $16M
Brian Ford, Alex McDermott, Austin Green and Ron Corrao from Capstone’s Charlotte office brokered the sale of Southern Pines, a 352-unit community in Spartanburg. Capstone worked on behalf of the seller, Bowman Investment Group.
Colliers Facilitates FL Affordable Housing Deal
Colliers Senior Vice President Kevin Morris and Senior Broker Associate Michael Lewin worked on behalf of 1031 exchange buyer Steve Schneider. Palm Lakes Trailer Park, a 120-unit mobile home property in Miami, traded for $6.3 million.