Deals
Covenant Buys $30M Indianapolis Community
Columns of Castleton was 99.5 percent occupied as of June. The company plans to implement a $4.7 million plan for renovating unit interiors and upgrading amenities.
George Smith Secures Financing for Hollywood Condo Conversion
The $4.5 million loan will be used by Friedman Capital to purchase and transform Patio del Moro into a condominium. The historic asset was once home to celebrities such as Charlie Chaplin or Humphrey Bogart.
Monument Capital Management Enters Illinois Market
The Residences at 1550, located in the Chicago suburb of Mount Prospect, include 509 one-, two- and three-bedroom garden- and townhome-style units. The property will be managed by the firm’s sister company, Monument Real Estate Services.
Berkadia Closes Record Sale in Encinitas
Property West Residential purchased a 120-unit community in San Diego County for $53 million from Equity Residential.
CBRE Closes Sale of Ft. Lauderdale-Area Community
The affordable apartment complex boasts various community amenities including an outdoor swimming pool, sun decks and a fully equipped fitness center.
Southwest Houston Apartments Change Hands
Ilan Investments sold Winding Trails Apartments in Houston to One Real Estate Investment. The 438-unit community was 93 percent occupied at the time of sale.
ARA Newmark Brokers 882-Unit Atlanta Community Sale
Managing Director Chad DeFoor represented the sellers of the three-building portfolio, affiliates of Oz Real Estate and CF Real Estate Services. The buyer was Balfour Beatty Communities.
Gainesville Community Trades for $22M
Audubon Communities purchased a 292-unit residential asset that will operate as Peaks at Gainesville. The company also revealed an almost $3 million refurbishment plan.
CBRE Facilitates $33M Sale of Phoenix-Area Community
Rivendell Global Real Estate acquired the 208-unit asset in Mountain Park Ranch, a master-planned community that provides access to an array of Mountain Park Ranch HOA amenities, including tennis courts, swimming pools and parks.
Steadfast REIT Purchases $63M Denver Asset
The acquisition of Belmar Villas marked the REIT’s sixth multifamily purchase. The 318-unit community comprises 17 three-story buildings featuring one-, two- and three-bedroom floorplans that will soon undergo renovations.