Deals
Beacon Communities Buys NDC, $250M Portfolio
The residential development company now owns National Development Corp. and its 59 properties, most of which are affordable communities. The portfolio is valued at more than $250 million and expands Beacon’s portfolio to 14 states.
Apartment Community in Portland Area Trades for $11M
An apartment community in Longview, Wash., changed hands between private investors in a $10.6 million deal arranged by Marcus & Millichap.
Passco Makes 2nd DC Purchase for $113M
The 360-unit luxury community in Alexandria, Va., is strategically located at the Huntington Metro Station and had a 92 percent occupancy rate at the time of the transaction.
Castle Lanterra Expands Denver Portfolio
The 44-year-old Mountain Vista Apartments marks the company’s second acquisition in the market. Eighty-five percent of the 257 units have been updated.
Berkadia Closes Leasehold Sale of OC Community
Bridge Investment Group sold Coronado Palms, a 168-unit garden-style community in Anaheim, Calif., to Canyon Multifamily Impact Fund.
American Campus Nabs $561M Student Housing Portfolio
The seven-property portfolio includes two existing communities, two communities slated to open this fall and three projects scheduled for delivery in Fall 2018.
San Jose Mixed-Use Tower Changes Hands
HFF worked on behalf of the seller, Capri Capital Partners, to market 360 Residences, a high-rise with 213 units and ground-floor retail space.
CA Property Sold for $74M
The 163-unit mixed-use asset in Monrovia marks Sequoia Equities’ second California purchase this month. The company plans to update the community’s offerings by investing $1.4 million in an interior renovation.
Thrive Acquires 2 Senior Housing Properties, Launches Sister Firm
The acquisition expanded the company’s senior housing portfolio to four assets, which drove the firm to launch a new division—TFP Senior Living—headed by Anthony Fulco.
Empire Square Group Sells 980-Unit TX Portfolio
Marcus & Millichap represented the seller in the transaction and procured the buyer, Falls Apartment Group. The portfolio comprises Alta Vista and Las Villas, two communities located in Pasadena.