Deals
Meridian Lands $20M Loan for Chicago Asset
Meridian secured a bridge loan for the acquisition of Ivy Park Homes, a rental townhome community in the South Side neighborhood.
Bellwether Closes First Equity Financing for $199M Deal
The mortgage banking firm arranged joint-venture equity financing on behalf of John M. Corcoran & Co. for the purchase of Windsor Garden Apartments, a 914-unit community in Norwood, Mass.
Manhattan Valley Portfolio Sells for $52M
Eastern Consolidated recently brokered the sale of a four-building multifamily portfolio comprising 100 apartments located at 60-68 W. 107th St., on New York City’s Upper West Side.
Western Wealth Snags Phoenix Community
The company paid $13.4 million to acquire Tierra Santa, a 274-unit property at 4620 W. McDowell Road. ARA Newmark brokered the transaction, which was subject to a $10 million loan originated by Walker and Dunlop.
Pacific Urban Snags $30M San Diego-Area Asset
Located in Oceanside, Calif., the 136-unit community features 11 two-story buildings. The property also has a condo map and units could be sold individually.
Historic B’more Apartments Change Hands
Frederick Douglass Apartments is a 99-unit multifamily property in Baltimore that includes two commercial units. Marcus & Millichap closed the $6.3 million deal.
Inland Empire Apartments Sell in 1031 Exchange
A family trust purchased the property, which has high value-add potential, in a 1031 exchange, a transaction that multifamily investors have increasingly executed in the Inland Empire, which has a limited inventory of apartment communities for sale.
Brooklyn Development Site Sells for $2M
EPIC Commercial Realty represented both parties in the sale of 2203 Clarendon Road, a 0.14-acre vacant residential lot in Brooklyn’s Flatbush neighborhood.
RRA Sells Philly-Area Apartment Community
The 82-unit Foxcroft Terrace Apartments traded for $5.4 million. The new owner will rebrand the residential property as Forest Creek Apartments.
NAPA Ventures Nabs 2 Communities in Lake Jackson, TX
In partnership with a private equity group, NAPA Ventures acquired two communities totaling 401 units. The company plans to renovate both properties.