Deals
Decron, Sequoia Trade CA Assets in $193M Transaction
Sequoia traded The Villas and Overlook, located in the 4,000-acre master-planned community of Wood Ranch, for Decron’s Broadstone at Strawberry Creek. Institutional Property Advisors represented both companies.
Kiser Group Closes Sale of Illinois Community
The 152-unit apartment complex in Montgomery, Ill. sold for $10.9 million as part of a 1031 exchange between the owner and a Chicago-based investor.
CareTrust REIT Buys Skilled Nursing Facilities in NM, TX
The newly constructed properties are leased to affiliates of OnPointe Health LLC, and were acquired from a Texas developer for some $27.3 million.
Berkadia Closes $12M Hollywood Community Sale
This is the first time the 72-unit property has traded in more than 40 years. Since most units lacked kitchens, the property was challenging to finance by conventional lenders.
29SC Acquires Second San Marcos Student Housing
The acquisition of the 488-bed property brings the company’s San Marcos multifamily portfolio to approximately 1,000 beds. The company plans to invest $1 million in capital improvements.
Steadfast REIT Snags Dallas-Area Community for $44M
The 300-unit Point at Vista Ridge, which is 94 percent occupied, will be conducting an apartment overhaul as part of the company’s value enhancement strategy.
Berkadia Closes Sale in Historic SLC Neighborhood
The buyer of the 111-unit community plans to renovate the asset, which was built in 1916 in Salt Lake City’s Avenues neighborhood.
Continental Realty Acquires $47M TN Community
The purchase was made on behalf of Continental Realty Fund IV LP. This represents the fifth residential community and ninth asset purchased by the fund, as well as the first in Tennessee.
Griffin-American Healthcare REIT Nabs Senior Housing Portfolio
American Healthcare Investors and Griffin Capital Co. LLC’s REIT acquired a five-building portfolio of independent and assisted living properties. The portfolio is 100 percent leased.
Berkadia Secures $25M Loan for TX Community
Berkadia arranged the acquisition loan on behalf of Faudree Ranch Apartments LLC. The 300-unit community in Odessa, Texas, was 90 percent occupied at the time of the transaction.