Deals
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.
California Investor Expands Texas Portfolio
Creative Realty Partners acquired a 117-unit Dallas multifamily asset from Wellington Realty. The sale was subject to a $5.8 million loan from Hunt Mortgage Group.
NJ Community Changes Hands in $73M Deal
The Addison at Princeton Meadows was built in 1981 and offers studios and one- and two-bedroom units. It was purchased free and clear of existing debt.
MedEquities Buys IN Skilled Nursing Facilities
Magnolia Health Systems sold the assets for $15 million in cash and will lease them back on a triple-net basis for 15 years.
Affordable Portland Asset Changes Hands
BRIDGE Housing acquired The Ramona, a 138-unit apartment building in the Pearl District of Portland, Ore. The fully affordable asset is LEED certified to the Gold level.
Equus Sells $100M Communities in Virginia
Chandler Management purchased two residential properties totaling 676 units in Fredericksburg, Va. The seller, Equus, purchased both assets in 2012 for a total of $74.3 million.
Landmark Lands Cleveland Lakeshore Community
Quay 55, a former warehouse converted to apartments, is now in the hands of an affiliate of Landmark Cos. Deancurt Realty Group sold the Lake Erie shoreline property after six years of ownership.
BRT Nabs 509-Unit DFW Community
BRT Apartments Corp. purchased Mercer Crossing from Provident Realty Advisors for roughly $86 million. For the acquisition, the buyer obtained a $55.2 million loan from Barings Multifamily Capital.
Inland Acquires $95M Denver Asset
Conifer Creek last traded in 2013, when Grand Peaks Properties sold it for $54.4 million. The community was 96.9 percent occupied as of May.