Deals
Richmond Assets Trade for $6M
Marcus & Millichap brokered the sale of The Park at Forest Hill and Chateau de Ville, two properties totaling 119 units. The communities are located within a three-minute drive of each other.
IRET Acquires $62M Minneapolis Community
The company acquired a Minneapolis community, located in one of St. Paul’s most vibrant neighborhoods. The property was 45 percent pre-leased as of April.
Dougherty Mortgage Closes $6M Student Housing Loan
Dougherty Mortgage closed a 12-year term loan for the acquisition of Millennium on Post, a student housing located minutes away from the Texas State campus.
Phoenix Community Changes Hands in $82M Deal
The new owner of Andante Apartments plans interior upgrades, as well as renovations of the clubhouse. The asset has an occupancy rate of 92.5 percent.
Lake Union Partners Acquires $23M MidTown Center
The company partnered with Forterra to develop the site and plans to include approximately 520 to 555 apartments. Approximately half of the units will be affordable.
IRT Nabs 160-Unit Kentucky Asset
The real estate investment trust paid $14.2 million to purchase Haverford Place, a community in the heart of Georgetown.
Pure Snags $48M Phoenix Asset
The 264-unit Pinnacle at Union Hills previously traded in 2014, when TA Associates Realty acquired the Class A asset from JP Morgan Asset Management for $36.3 million.
Berkshire Group Nabs DTLA Luxury Apartments
This is the company’s second purchase in the Los Angeles market in the last year. The 266-unit community also features over 8,500 square feet of ground floor retail.
North Dallas 152-Unit Community Changes Hands
A Dallas-based partnership acquired Sienna Creek from Madera Residential. The buyer plans to rebrand the property and to implement a value-add strategy. The community is situated within the Richardson Independent School District.
Avesta Nabs Orlando Portfolio for $32M
As part of the firm’s strategy, Avesta has commenced a $5 million renovation program to modernize the interior units and upgrade the exterior aesthetics of its latest acquisition.