Deals
TruAmerica JV Acquires $90M San Diego Community
The 519-unit Eagles Point in Escondido, Calif., comprises studio, one- and two-bedroom floorplans ranging from 440 to 995 square feet. The community will undergo TruAmerica’s largest renovation plan in company history.
Capano Residential Nabs DE Community
Merion Realty Partners sold the 231-unit property in Wilmington, Del., after completing a $2 million refurbishment that included the renovation of 84 units.
CBRE Brokers Sale of 43 Affordable Properties
The portfolio includes 4,153 units spread mainly across Maryland, but also in Pennsylvania and Virginia. CBRE Affordable Housing Executive Vice President Jeff Kunitz arranged the sale on behalf of Shelter Group. Enterprise Homes purchased the assets.
Granite Investment Buys OR Memory Care Portfolio
Avalon Health Care Group will manage the two facilities, which mark Granite’s first Oregon deal.
JV Snags $90M DC-Area Portfolio
Besyata Investment Group and The Scharf Group purchased The Communities at Arbor Vista in the Washington, D.C., submarket of Adelphi, Md. The partnership plans to modernize both the amenities and units.
ReyLenn Properties to Open $60M Denver Community
Solana Lucent Station will be opened in anticipation of the Southwest Line Extension in Highlands Ranch, Colo., which is home to major employers such as Children’s Hospital Colorado, Skyridge Medical Center and VISA.
Covenant Sells 272-Unit Atlanta Asset for $32M
The deal continues the Atlanta market momentum for Covenant Capital Group, following the company’s sale of the 500-unit Viera Briarcliff in June for $76 million. Mike Kemether and Travis Presnell of Cushman & Wakefield worked on behalf of StoneBridge Investments, the seller, while Elliott Throne, Gregg Shapiro and Ware Shipman of HFF secured acquisition financing.
CBRE Brokers $28M Sale of Jacksonville Community
Resource Real Estate acquired the asset which boasts numerous community amenities including a resort-style swimming pool and sundeck, a clubhouse and tennis court.
CBRE Arranges Sale of 160-Unit Sacramento Asset
Integrity Housing sold Alhambra at Mace Ranch in Davis, Calif., for $28.5 million. Jim Flinn, senior vice president of CBRE Affordable Housing’s Debt and Structured Finance team, secured $20.2 million in acquisition financing.
WinnCos. Eyes $19M Rehab for NJ Affordable Community
The firm plans to make significant interior and exterior upgrades to the newly acquired Bridgeton Villas Apartments, a 156-unit community in Bridgeton, N.J.