Finance & Investment
Tampa-Area Property Sells for $47M
Independence Realty Trust has expanded its portfolio with Lucerne, a 276-unit community located in Brandon, Fla., about 10 miles from downtown Tampa.
Idaho Apartments Command $24M
Kennedy Wilson acquired the 188-unit community in an off-market transaction financed with a $14 million Freddie Mac loan.
Quad Property Group Sells Jacksonville Community
A joint venture between Hyperion Endeavors and Think Multifamily purchased the 113-unit property for more than $7 million, with Arbor Realty Trust providing acquisition financing.
Providence Management Co. Buys Tampa Property
Centennial Holding Co. has sold Century Falls Apartments for $52.8 million. The buyer has rebranded the community as Seasons at Westchase.
Archway Holdings Buys $29M Nashville Portfolio
The seller, Belew Rentals, had purchased the multifamily assets encompassing more than 360 units between 2012 and 2013, for a combined $4.2 million.
TriBridge, Stockbridge Sell Nashville-Area Community
Olen Properties paid more than $57 million for the 254-unit Class A asset, which last changed hands in 2014 for $42.2 million.
On the Market: 4 Interesting Listings for the Week of 11/19
This week’s listings include value-add investments from the beaches of Oahu to the suburbs of Los Angeles, with a large-scale opportunity near the University of Illinois.
Pacific American Trades Sacramento-Area Affordable Property
WNC & Associates partnered with the Foundation for Affordable Housing to purchase the 95-unit multifamily asset. The acquisition was funded with $7.4 million in Freddie Mac financing.
Sentinel Sells Sacramento Community
Oakmont Properties paid $44 million for the 168-unit multifamily asset, with CBRE Capital Markets originating more than $25 million in acquisition financing.
Indianapolis Community Lands Refinancing
The Embassy Group, the owner of the 163-unit Class C community, acquired Oak Park from Morgan Properties in August 2015.