Deals
TODAY’S DEALS: KBS Legacy Partners Acquires 240-Unit Asset in North Carolina
KBS Legacy Partners completes a $28 million apartment acquisition; The RADCO Companies picks up a 297-unit multifamily property in Atlanta; and NorthMarq Capital finalizes the $10.2 million refinancing of a USC student housing portfolio.
CBRE Global Investors Buys 330-Unit Apartment Complex in Atlanta from Equity Residential
CBRE Global Investors has boosted its Atlanta multifamily portfolio with the purchase of Alexander on Ponce, a 330-unit apartment complex in the city’s Midtown submarket, from Equity Residential.
Pembrook Originates Acquisition, Renovation Financing for Denver-Area Apts.
Pembrook Capital Management originates an $18.6 million bridge loan to facilitate the sale of Mountain Vista, a 257-unit multifamily property located in the Denver suburb of Lakewood.
TODAY’S DEALS: Greystone Provides $38.8M for San Antonio Asset
Greystone refinances a 360-unit asset; Boston Capital provides financing for an Affirmed Housing project; and Capstone lands management contracts for seven properties in Greater Houston.
TODAY’S DEALS: Arbor Funds a Series of Loans in the Southwest and Tennessee
Arbor Commercial Funding originates $37.5 million for properties in California, Texas and Tennessee; Centerline provides a $24 million acquisition loan for Massachusetts mid-rise; and NorthMarq Capital secures $17 million in financing that was highly sought by CMBS lenders.
MHN Interview: Anand Kannan, President, Community Preservation Partners
Low income tax credit specialists WNC & Associates may have more than 40 years of experience in affordable housing, but the firm isn’t afraid to put youth in the driver’s seat of its rapidly expanding subsidiary, Community Preservation Partners.
Carroll Organization Acquires 11th Florida Multifamily Property
Carroll Organization continues to expand its southern portfolio. The group recently completed its eleventh acquisition in Florida with the purchase of the 204-unit Island Club at Atlantic Beach.
Freddie Mac Singles Out Top 2013 Multifamily Lenders
After a year that saw Freddie Mac settle nearly $26 billion in new multifamily volume, its second largest figure ever following a banner 2012, the GSE announces its top lenders for 2013.
TODAY’S DEALS: Sares Regis Grabs an Oregon Asset
Belkorp Industries sells a 129-unit asset to Sares Regis; and Pembrook Capital closes two bridge loans totaling nearly $19 million.
TODAY’S DEALS: HFF Arranges Construction Financing for Boston Condo
HFF arranges construction financing for a luxury condo development in Boston’s Seaport District; Marcus & Millichap closes two Illinois transactions; and Franklin Street brokers the sale of three communities in South Florida to foreign buyers.