Deals
NJ Community Sells for $27M
A joint venture of C6 Real Estate Partners and Citymark Capital acquired the newly built, 100-unit River Edge at Garfield, which comprises one- and two-bedroom apartments ranging from 834 to 1,217 square feet.
Phoenix Community Sells for $30M
Berkadia represented the seller, a subsidiary of Evergreen Development Co., which sold the 152-unit property to Pure US Apartments REIT.
5 Cap Launches Investment Program with $60M Buy
The acquisitions are in line with the new national investment venture’s strategy to pump more than $1 billion into assets under management, focusing on purchasing and operating value-add residential properties.
29SC Expands Into Sacramento With 110-Unit Community
The company plans to spend $1.3 million in capital improvements in the property located in Citrus Heights, Calif., a submarket with a more than 8 percent rental rate growth.
DC Asset Changes Hands for $3.5M
Marcus & Millichap closed the sale of Gresham House, a 15-unit community in the Columbia Heights neighborhood of Washington, D.C. The property includes 3,358 square feet of retail and office space.
Marcus & Millichap Leads Orlando Community Sale
The company worked on behalf of the seller, an Orlando-based private group, for the 80-unit property sale. The community was 97.5 percent occupied as of May.
Canadian Developer Lands $50M Florida Community
Cushman & Wakefield negotiated the sale of Cottage Cove, a 468-unit asset in Miami, Fla., on behalf of TM Real Estate Group.
Inspirit Nabs 2 PA Senior Living Facilities
The Palmerton and The Willow are the latest additions to an extensive new regional network planned by the company. Additionally, Inspirit intends to renovate both assets.
Pathfinder Acquires $16M Senior Housing
The company formed a joint venture with Denver-based Hillcrest Development Group to purchase Shalom Park Senior Living Campus. Pathfinder will implement a $3 million renovation plan and will rebrand the property as V-Esprit.
Berkadia Leads Sale of 528-Unit St. Louis Community
Lipton Group sold the three-building Pheasant Run community, located near downtown St. Louis. The average rental rate was $882 as of May.