Deals
DC Community Trades for $10M
Greysteel brokered the sale of Cascade Park Apartments on behalf of NOVO Properties, located within minutes of the Capitol Riverfront. According to Yardi Matrix data, occupancy is currently at 94 percent.
Bell Partners Acquires Annapolis Asset
The company purchased the now rebranded Bell Annapolis on West, a 300-unit community. Including this property, Bell Partners has completed $645 million in multifamily acquisitions in 2017.
HFF Lends a Hand in Denver Community Sale
The company marketed the sale of the 291-unit Greenwood Park located within Denver’s Tech Center. Holland Partner Group and Principal Real Estate Investors were the buyers.
Lantower Lands 451-Unit FL Asset
The company purchased Seneca at Cypress Creek, a 2010-built community in the Lutz/Wesley Chapel submarket of Tampa, Fla. With this acquisition, Lantower’s portfolio comprises 14 multifamily properties totaling 4,600 residential units.
Invesco Expands Portfolio With MA Buy
CBRE/NE represented the seller and procured the buyer. The property is three blocks away from Nantasket Beach and offers easy access to the South Shore.
MG Properties Acquires $58M Vegas Community
The company purchased the 432-unit Bristol at Sunset from Kennedy Wilson. CBRE arranged a $39.4 million acquisition loan through Fannie Mae on behalf of MG Properties Group.
Denver Luxury Asset Trades for $142M
Completed in 2015, the 12-story community is situated across the street from Cherry Creek Shopping Mall. BMC Investments sold the asset for roughly $650,000 per unit.
IMT Capital Snags TN Community
The company purchased the 386-unit ALARA Cool Springs, located in the Nashville submarket of Franklin, from American Realty Advisors. Cushman & Wakefield represented the seller in the transaction.
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.