Deals
TODAY’S DEALS: Security Properties Coinvests in Multifamily Fund
Security properties closes a 2,471-unit fund, sells first asset; an affiliate of True North Capital Partners acquires two Massachusetts apartments in a sale brokered by CBRE/NE; and Meridian negotiates financing for New York communities.
Inland American Buys Alexandria’s Lorien Hotel & Spa for $45M
Inland American Real Estate Trust, Inc. has announced this week the acquisition of its tenth hotel property in 2013. Through its subsidiary, Inland American Lodging Group, Inc., the company has purchased the Lorien Hotel & Spa in Alexandria, Virginia. It paid approximately $45 million for the property.
TODAY’S DEALS: ARA Reps Sale of Newly Delivered Charlotte TOD Apartment
ARA sells a 208-unit apartment for Proffit Dixon Partners; and Equus Capital Partners completes a $47 million sale in Nashville.
TODAY’S DEALS: Grandbridge Arranges $26.5M for California Apartments
Grandbridge arranges financing for two California assets; Associate Estates acquires an apartment community in Charlotte; and NorthMarq arranges $4.12 million in acquisition loans.
TODAY’S DEALS: Pinnacle Sells 304-Unit Apartment Near Dallas
Cortland Partners buys Texas asset from Pinnacle; CBRE/New England brokers the $7.8 million sale of a Section 8 property in Massachusetts; and BMC Capital provides a $2.8M loan and enables lower interest on foreclosed property.
TODAY’S DEALS: Vantage to Acquire 650-Unit Apartment Outside Philly
Vantage enters a $70 million acquisition agreement; IPA brokers a Behringer Harvard sale in Connecticut; and IPA arranges a $31 million multifamily sale in Tampa, Fla.
TODAY’S DEALS: NorthMarq Arranges $38M Acquisition Financing for Minnesota Asset
NorthMarq Capital arranges financing for a 361-unit acquisition; Beech Street Capital Closes $32.7 million to refinance two assets in Orange County, Calif.
TODAY’S DEALS: Home Properties Sells Virginia Apartment for $68M
Transwestern represents Home Properties in a 334-unit sale; Harbor Group International completes a 528-unit disposition; and Pembrook Capital provides $7.5 million in preferred equity for a development in Brooklyn.
TODAY’S DEALS: Peak Capital Partners Acquires a 434-Unit Apartment in Denver
Peak Capital Partners acquires a Denver asset from Prime Residential; Centerline Capital finances a Houston acquisition; and HFF arranges a $62.4 million construction loan for condo development in Manhattan’s Greenwich Village.
TODAY’S DEALS: Canyon Catalyst Fund Acquires a Pair of Bay Area Apartments
The Canyon Catalyst Fund and Sack Properties buy two Bay Area apartment assets; Coseo Properties completes a Michigan multifamily acquisition; and BMC completes an $18.5 million cash-out refinance in a tertiary market.