Deals
LA Koreatown Community Trades for $9M
Lion Real Estate Group sold Kingsley Tower, a 45-unit apartment building it acquired in 2012 for $4.2 million and then repositioned.
CBRE Closes $40M Sale of Phoenix-Area Community
The company represented Baron Properties in the sale of the 240-unit community. The buyer partnership was represented by Mike Dow of Impact Multifamily Advisor.
Waterton Acquires Denver Greenwood Plaza
The multi-building property is located in close proximity to the Denver Tech Center. The company plans to implement a renovation plan that will include adding new flooring in kitchens and living areas as well as carpeting in bedrooms.
SmartStop Asset Management Sponsors $57M Student Housing Sale
Strategic Student & Senior Housing Trust purchased a 592-bed community located near the University of Arkansas. The property was previously known as Sterling District, but its new owner dubbed it “The District.”
CAPREIT Acquires Memphis-Area Apartments
The 430-unit Legacy Crossing comprises one-, two- and three-bedroom affordable apartments ranging from 711 to 1,063 square feet. The company plans on making upgrades to the units.
Security Properties Expands in Seattle
The company acquired a Bellevue, Wash., community for $28 million. The building offers studio, penthouses, one- and two-bedroom units. Madrona Ridge Residential will manage the property.
Berkadia Closes Sale of Student Housing Assets for $146M
The properties include Ava University District, a 289-unit community, near the University of Washington, and Fullerton University Village, a 100-unit community near California State University.
J Street Lands Dupont Circle Site for Condo Project
The developer plans to build The Pacifica, a nine-unit luxury community in Washington, D.C. In partnership with the Dupont Circle Citizens’ Association, the company is offering the historic buildings currently on the site for free.
HPI Snags Memphis-Area Community
The 400-unit Annandale Gardens comprises one-, two- and three-bedroom floorplans. This marks the second acquisition of HPI Real Estate Fund V.
Gelt Enters Albuquerque Market
The company purchased Mountain Run Apartments from Chartwell Capital Partners and has plans to renovate and upgrade the amenity spaces.