Deals
VA Property Changes Hands in $65M Deal
The JBG Cos. disposed of Fairmont Gardens, a 388-unit multifamily community in Annandale, Va., one year after acquiring it for $47 million.
Praxis Lands 1st Atlanta Asset
The San Francisco-based company entered acquired the 198-unit Birch Run Apartments in Clarkston, Ga. The property will soon undergo a $3 million renovation process.
Waterton Secures DC-Area Luxury Community
Built in 1992, the 404-unit Citizen at Shirlington Village will undergo renovations to its unit interiors and common areas.
29SC Acquires 6th Chicago Community
The asset, Wooded Isle Apartments, is located in Hyde Park, only eight miles from downtown. The community offers 75 units.
Coldwell Banker Acquires McMullen Real Estate
The Chicago-area brokerage firm is the third to join Coldwell Banker in the past three months, following the acquisitions of Groebe Real Estate and Chicagoland Realty Services.
ClearWorth Deepens Houston Footprint With Portfolio Buy
The company acquired two communities, totaling 549 units, in the Clear Lake submarket and plans to renovate both properties extensively.
Electra America Snags Fourth Tampa Community
Starwood Capital sold Northgreen at Carrollwood, a 438-unit luxury asset. Berkadia’s South Florida and Philadelphia teams arranged a $39.8 million Fannie Mae loan.
Green Bridge Closes Bulk Cleveland Sale
Investment Group purchased the assets for $2.9 million. The 90-unit portfolio will undergo a renovation process, estimated to cost between $100,000 and $300,000.
Inland Empire Asset Trades in 1031 Exchange
Providence Capital Group placed a non-contingent offer for the 140-unit community in Hemet, Calif., which traded for $15.5 million. Marcus & Millichap represented the seller and procured the buyer.
Habitat Lands, Assumes Management of Chicago Asset
The multifamily developer and property manager purchased and assumed property management of Eastwood Garden, an affordable community in the Englewood neighborhood. The company will manage two other properties in the Chicago area.