Deals
CBRE Leads Record Sale of OC Community
The brokerage firm arranged the sale of a 21-unit community in Santa Ana, Calif., at one of the highest price-per-square foot values for in the city. The buyer, NNC Apartment Ventures, plans to renovate the property, which was built in 1987.
The Citadel at Westpointe to Break Ground in San Antonio
The $33 million garden-style community will encompass 282 apartments and various amenities, including a resort-style pool and demonstration kitchen.
Durham Liberty Warehouse Trades for $69M
East West Partners sold the asset to a New York-based investment company. The former brick warehouse has been transformed into a 247-unit residential project that also includes 24,000 square feet of retail space.
PAC Sells 300-Unit Dallas Community
Steadfast Cos. paid about $44 million for Enclave at Vista Ridge, a Class A community located in a northwestern suburb of Dallas. The sale was subject to a $29.1 million Fannie Mae loan.
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.