Deals
Bell Partners Nabs 306-Unit Denver-Area Community
Alta Cherry Hills marks the company’s second 2017 acquisition. The property is located near two of the metro’s largest employment areas.
South FL Luxury Apartments Sell for $68.2M
The 400-unit luxury community’s previous owner invested more than $3 million in capital improvements, repositioning the community for its sale price of $170,500 per unit.
MJW Property Buys SoCal Asset for $44M
Berkadia completed the sale of the 230-unit community in Menifee, Calif., at a sub-4.4 percent cap rate. The asset had an occupancy rate of 95.7 percent last month.
Cornerstone Senior Living Expands in TX
The company acquired Three Forks of Forney, a 60-unit, 72-bed assisted living and memory care community in Forney, for $12.5 million.
Hamilton Zanze Buys Salt Lake City Community
The company plans to upgrade the 256-unit property that it purchased from Peak Capital Partners in an off-market transaction. Mission Rock Residential will manage the property.
HLC Equity Nabs 192-Unit Community in Dallas
The property is located within the Plano Independent School District and offers 64 studios and 128 one-bedroom apartments.
Modera Portfolio Lands $364M Refinancing
A CBRE Capital Markets team assisted the owner in securing the five-year loan. Morgan Stanley originated the financing measure for the acquisition.
Resource Real Estate Buys Phoenix Community for $55M
Bascom Arizona Ventures sold Indigo Creek, a 408-unit community built by Gray Development Group in the Arrowhead region in 1993.
ARA Newmark Closes Record Denver-Area Sale
The 26-unit community was constructed in 2015. The sale marks the company’s highest per-unit multi-housing trade in Colorado.
CIM Group Trades 138-Unit Boulder Community
The Los Angeles-based company sold 9Seventy, a newly constructed project adjacent to the University of Colorado. At the time of the transaction, the property was fully leased.