Deals
Naples Community Changes Hands for $67M
The seller completed a series of improvements during its ownership, including the renovation of the clubhouse and the creation of a private fitness studio.
Advenir Scores $52M for FL Luxury Apartments
Berkadia arranged Freddie Mac financing for the purchase of Aventine at Naples, a 350-unit luxury community that is currently 89 percent occupied.
ARA Newmark Closes $53M NC Deal
Vice Chairman Dean Smith and Executive Managing Director Sean Wood brokered the sale of 292-unit Cary Greens at Preston to Rivendell Global Real Estate. The Connor Group sold the 18-building asset.
Dougherty Secures $7M Acquisition Loan
On behalf of a private investor, Dougherty arranged the financing for the purchase of a Garland, Texas, market-rate community. The 12-year term, three-year interest-only Fannie Mae loan has a 30-year amortization schedule.
Security Properties Acquires 2 Portland Assets
Security Properties acquired two properties totaling 228 units located near downtown Portland. The company plans to implement a renovation plan for The Commons in order to preserve the long-term affordability of the building.
Berkadia Secures $23M Loan for NC Multifamily Development
Senior Managing Director James Tanner and Managing Director Henry Tanner arranged the financing through a HUD program. The loan will be used for Preserve at Carteret Place, a community in Morehead City, N.C.
Marcus & Millichap Facilitates $30M Sale of Affordable FL Asset
Evan Kristol and Felipe Echarte, first vice presidents of investment, represented the seller, a New York-based investment group, and procured the buyer for Cabana Club Apartments, a 332-unit community for seniors in Miami-Dade County.
CBRE Global Investors Fund Lands $51M Denver-Area Asset
Viridian at the Gardens on Havana is a 227-unit property located in Aurora. ARA Newmark worked on behalf of AIG Global Real Estate and Post Investment Group, partners in trading the recently constructed Class A community.
Ridge Capital, Andell JV Snags Sacramento Community
The Class B property traded for $22.4 million and is located in a submarket with a 13.7 percent year-over-year rent increase, almost seven times the national rate.
J.P. Morgan Buys $127M Denver Asset
Forum Real Estate Group sold the 300-unit community through HFF. The high-end property is located near the Denver Tech Center.