Finance & Investment
Waterton Reenters Austin With 950-Unit Acquisition
After exiting the market in 2015, the company has now acquired three communities in Texas’ capital, 14 miles north of the metro’s CBD, betting on a value-add strategy.
Arbor Realty Originates $50M Refi for Chicago-Area Assets
Two recently renovated suburban Chicago properties built in the 1970s have received Fannie Mae refinancing following the conclusion of major value-add programs.
Developers Close on $38M in Financing for DC Project
Located next to an historic theater in Washington, D.C.’s Deanwood neighborhood, The Strand Residences will deliver 86 affordable units by January 2021.
Steadfast’s REIT Merger Creates Firm with $3.3B in Assets
Steadfast Apartment REIT has acquired three affiliated REITs in separate stock-for-stock, tax-free transactions. The deal is expected to close in 2020.
Cushman & Wakefield Represents Fifield Cos. in Chicago Deal
Jason Stevens and Todd Stofflet arranged the sale of Luxe on Chicago and secured one of the highest per-unit prices in the city’s West Town neighborhood.
Berkadia Arranges Sale of Tempe Community
Former owner Sares-Regis Group originally acquired the 144-unit Salado Springs property for $20.2 million in an all-cash transaction in 2016.
Capital Square 1031 Expands Virginia Portfolio
The 409-unit community in Woodbridge previously traded in 2013 and received $5 million in renovations since then. The new owner plans to finish the upgrades.
Investors Capital Group Sells 264 Units in Albuquerque
Completed in 2000, the sale marks only the second time Canon de Arrowhead traded. JLL originated a $15.8 million acquisition loan for the buyer.
Passco Buys Georgia Community for $58M
Built in 2016, the fully stabilized Class A property sold by Southeastern Development Associates is located in Augusta, a rising cybersecurity hub.
Cortland Acquires UK Multifamily Firm
The purchase comes on the heels of the Atlanta-based investment firm’s $1.2 billion acquisition of Canadian REIT Pure Multi-Family last month.