Deals
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.
CBC Advisors Completes 2 West Coast Multifamily Sales
The Cove at Overlake in Tooele, Utah, and student housing community The Pines, in Rexburg, Idaho, changed hands in two off-market transactions totaling 204 apartment units.
Avanath Doubles Sacramento Footprint
In a $56.5 million deal, the company has acquired an affordable housing portfolio totaling 468 units in one of the nation’s hottest markets. The properties cater to seniors, families and mixed-income renters.
Atlas, OpenPath JV Sells UT Apartments
The joint venture acquired the 144-unit community in Layton, Utah, in June 2013 and completed a value-add program. The asset was 99 percent occupied at the time of the sale.
South FL Community Trades in $27M Deal
Cushman & Wakefield’s team worked on behalf of the seller, a joint venture between Eastwind Development and Index Apartments, in the 1031 exchange of the asset.