Finance & Investment
JV Buys 240-Unit Baltimore-Area Community for $50M
Morgan Properties and Core Real Estate Partners have acquired Orchard Meadows, located in Ellicott City, as a value-add investment. The community will undergo more than $2 million in upgrades.
Titan, Investcorp Trade Atlanta Community
ECI Group acquired the 410-unit asset located in the city’s West Chamblee submarket. The property offers one- to three-bedroom apartments ranging from 950 to 1,435 square feet.
Advenir Secures $173M to Refinance Denver, Houston Properties
HFF arranged the loans on behalf of the borrower through Freddie Mac’s CME Program. Proceeds will refinance floating-rate debt on five assets.
GSE Outlook Stays the Course
After breaking records in 2017, Fannie Mae and Freddie Mac advance affordability and sustainability programs and anticipate comparable volume this year.
Transactions: June 2018
The following is a list of transactions that were announced between March 30 and April 20, 2018.
ARA Newmark Brokers Record-Setting Deal
Director Robert Bratley and Associate Director Marcus Griffin facilitated the $12 million sale of the boutique apartment building in downtown Denver’s Capitol Hill neighborhood.
Atlanta Investor Expands in San Antonio With Foreign Funds
Benimax increased its San Antonio footprint with the acquisition of its second multifamily property, in a deal arranged by ARA Newmark.
Walker & Dunlop Secures $82M for 2 in Metro Dallas
Madera Residential, owner of the assets in Garland, Texas, will reposition the 35-year-old properties. A major selling point for prospective residents: proximity to Bayside, a $1 billion master-planned, resort-style development.
$204M Chinese Project Attracts US, German Capital
Century Bridge Capital and Deutsche Finance Group are investing in the 1,427-unit community, which will be located in Xuzhou, a northeastern gateway city between Beijing and Shanghai.
Marquette Cos. Scores $56M for Chicagoland Deal
HFF facilitated acquisition financing for Willow Creek, a 14-building community in Elk Grove Village, Ill. Calling the property “a diamond in the rough,” Marquette plans extensive upgrades.