Finance & Investment
WNC Earmarks $94M for CA Affordable Portfolio
A recently closed LIHTC fund is providing capital to acquire and renovate 972 units in Los Angeles, Sacramento and other California cities.
Castle Lanterra Sells $50M Chicago Community
The 424-unit Midpointe underwent extensive upgrades to both the interiors and exteriors, including the addition of a resident lounge and fitness center created from underutilized storage space.
Chestnut Hill Sells 17-Unit Cambridge Community
Situated within walking distance of Harvard University and the Massachusetts Institute of Technology, the multifamily property traded for $11.9 million.
MRP Realty Nabs 400-Unit NoVa Community
Walker & Dunlop has facilitated the sale and financing of the multifamily property located in Alexandria, Va., close to the Van Dorn Street Metro station.
HFF Secures $49M for Stadium View in MN
The 277-unit, 956-bed Minneapolis community serves students at the University of Minnesota and includes a fitness center, a game room, tanning beds and a 24-hour concierge.
CBRE Brokers Sale of 144-Unit SC Community
Beacon Ridge in Greenville traded for $14.6 million. Represented by CBRE’s Kevin Kempf, Parker Yates, David Lansbury and Phil Brosseau, Grubb Properties sold the asset to PRG Real Estate.
Copeland Lands $33M for TX Asset
The loan will be used to finance the ground-up development of Grand on Beach Apartments, a 302-unit community located northeast of Fort Worth.
Top 10 Multifamily Buyers in the Mid-Atlantic
Investment activity in the region was high last year, recording more than $6 billion in transaction volume, with names such as Morgan Properties and Pantzer Properties leading the way.
Townsend Group Secures 2 in Atlanta Suburb
The company acquired ARIUM Kennesaw and ARIUM Kennesaw Villas, totaling 524 units. Carroll Organization purchased the properties in 2015 as part of Carroll Multifamily Real Estate Fund III LP.
Ft. Lauderdale Class A Asset Trades for $53M
Urban Street Development and Fazio Properties recently completed 191-unit luxury community, which is in the city’s urban core. The property was 95 percent leased at the time of the sale.