Finance & Investment
Affordable VA Community Commands $10M
Community Preservation Partners intends to renovate Royal Arms, a 144-unit property in Front Royal. The deal marks the rehabilitation company’s second affordable housing purchase in the state.
MA Senior Housing Asset Extends Affordability With $45M Refi
Non-profit B’nai B’rith Housing intends to execute a capital improvement program on 200 units at Covenant House in Brighton and ensure rental affordability for the next three decades.
Affordable Boston Community Receives $39M Loan
The 146-unit West Newton Apartments in South End is set to undergo extensive renovations. MassHousing provided the financing to non-profit Inquilinos Boricuas En Accion.
Berkadia Arranges $28M in San Diego Sales
Two properties traded for the highest per-unit price in their respective submarkets. Associate Director Tyler Sinks, Managing Directors Ed Rosen and John Chu worked on behalf of the sellers.
Strawberry Fields REIT Pays $21M for KY Skilled Nursing Portfolio
Oxford Finance provided financing for the acquisition of the three facilities, which are located in Bardstown, Manchester and Elkhorn City.
Nuveen Buys Seattle Portfolio for $245M
The acquisition included two Class A properties—one in Bellevue, the other in the Issaquah submarket—adding up to more than 550 units.
Jacksonville Value-Add Community Sells for $12M
The seller, Avesta Communities, acquired the Class C asset out of a foreclosure action in early 2012 for $3.4 million.
Atlanta Age-Restricted Community Commands $10M
CBRE provided nearly $8 million in Fannie Mae acquisition financing to The Hallmark Cos., the buyer of the 120-unit asset.
Raintree Partners Acquires San Diego-Area Property
The 333-unit property is located within the University Town Center neighborhood in La Jolla, Calif. HFF arranged the sale and financing in the deal.
Carlyle Group JV Buys Vegas Apartments for $87M
The 456-unit Class A property last changed hands in late 2010, when Fairfield Residential sold it for nearly $47 million.