Finance & Investment
American Landmark Snags 1st Ft. Lauderdale Community
The firm plans on rebranding the 2002-built Sheridan Lake Club as Beach Walk at Sheridan and investing $4.2 million in property improvements.
Waypoint Residential Acquires 2 Student Housing Properties
The company secured Social at Auburn, an 844-bed property near Auburn University in Alabama. The company also acquired Rockland West, a 500-bed community near the University of Kansas at Lawrence.
Stepp Commercial Completes $10M CA Sale
Waterford Residential acquired a four-story, 36-unit Long Beach community near the Recreation Park Golf Course, Bluff Park and Alamitos, Junipero and Peninsula beaches.
FLF Holdings Buys FL Asset for $111M
The firm has received $76 million in financing for the acquisition of a 900-unit property in Bradenton. The 10-year, fixed-rate loan was secured through Freddie Mac’s CME program.
PCCP Provides $24M for NV Community
The Calida Group plans to renovate Hampton Garden in Summerlin-Spring Valley, a Las Vegas submarket. The 18-year-old property includes 180 units in 16 buildings.
Marcus & Millichap Brokers Sale of MN Asset
Led by Michael Glass, regional manager of the firm’s Minneapolis office, Evan Miller, Mox Gunderson, Dan Linnell and Josh Talberg of GLT Partners completed the $2.8 million transaction.
Lotus Capital Arranges $237M for London Apartments
Proceeds from the financing will pay off an existing construction loan and cover carrying costs for Belgravia Gate, a row of townhouses converted to 12 luxury units.
Coastal Ridge Buys TN Student Housing
Crowne at Campus Pointe is a 324-unit, 718-bed community in Knoxville serving the students of the University of Tennessee.
Crown Acquisitions Secures $50M CA Student Housing
College Square, a 486-bed community a mile from the UC Davis campus, includes furnished sundecks, a fitness center and laundry facilities.
Apartments Outperforming Other Assets, Says NMHC
According to a recent study, multifamily communities are outperforming most other commercial real estate property types, whether it be on a risk-adjusted or unadjusted basis, regardless of holding period, geographic region, metro size or growth rate. Here’s why.