Deals
CIM Expands Chicago Portfolio With 2 Acquisitions
The buildings at Wicker Park offer 96 residential units, 23,000 square feet of street-level retail space and 17,400 square feet of creative office space.
Inland Nabs Suburban Chicago Community
The Commons at Town Center, a six-story, 85-unit multifamily property in Vernon Hills, Ill., was built in 2010 and boasts a 96 percent occupancy.
AdCare Buys $6M Alabama Assisted Living Facility
The 106-bed property was leased to an affiliate of C. Ross Management. This is AdCare’s first acquisition since it transitioned to a property holding and leasing company.
Stepp Commercial Closes Sale of Long Beach Property
The community traded at a 3.8 percent cap rate and a price per unit of nearly $456,000, a record high for the Belmont Shore area in California.
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.