Deals
PAC Lands 242-Unit Louisville Community
The company financed the acquisition by assuming a mortgage loan insured by the U.S. Department of Housing and Urban Development.
Greystone Closes $82M in Refinance, Acquisition Loans
The company secured two financing agreements under the Fannie Mae DUS Small Loan program for four multifamily properties in Long Island and Queens.
TruAmerica Buys Denver Community for $53M
The company partnered with Magnolia Real Estate Fund to acquire the 287-unit asset. The companies will implement a renovation plan which will include improvements to common, interior and outdoor areas.
Transactions: May 2017
The following is a list of transactions that were announced between Feb. 22 and March 28, 2017. To have your transaction featured, submit details to Mallory.bulman@cpe-mhn.com.
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.