Deals
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.
Tikijian Secures $37M Indianapolis Community
The company represented The RADCO Cos. in the sale of 455-unit Indianapolis asset. The new company changed its name to Ashford at Keystone and plans to renovate unit interiors.
Far South Houston Community Changes Hands
Highland Capital Management sold Regatta Bay Apartments, a 240-unit community in Seabrook, Texas, to Lloyd Jones Capital. This is the eleventh Texas property operated by the new owner.
Richland Living Secures Acquisition Loan for San Antonio Property
Hunt Mortgage Group arranged a $10 million acquisition loan for the 192-unit The Richland Apartments in San Antonio-New Braunfels.
Rosewood Closes $83M Queens Sale
President Aaron Jungreis represented both the seller and the buyer in the exchange of the 343-unit portfolio. The seven buildings were constructed between 1913 and 1941.
Investcorp Snags Phoenix Community for $50M
The 582-unit Tuscany Palms in Mesa, Ariz., last traded in 2014, when P.B. Bell paid $29.5 million for its acquisition.
Sunshine Management Lands $34M Atlanta-Area Community
Sunshine Management acquired the 260-unit property from Fortress Investment Group. The sale was subject to a $25.4 million Fannie Mae loan.