Finance & Investment
Twin Cities Affordable Housing Portfolio Sells for $77M
Investors Aeon, the NOAH Impact Fund and Enterprise Community Investment purchased the 10 properties. The apartments will continue to welcome low-income renters.
Affordable NC Property Lands Fannie Mae Financing
Working on behalf of IPI Properties 11, a partnership between Berkeley Point Capital and Dougherty arranged a $1.2 million acquisition loan for Barden Ridge Apartments, a 48-unit community in Roxboro.
Far North Dallas 420-Unit Community Lands Refi
Working on behalf of Lantower Residential, HFF arranged a 10-year, fixed-rate loan for The Cortona, a 420-unit multifamily property in Fairview, Texas.
Newly Built FL Community Lands $43M Refi
The new loan assumes part of the original construction loan and provides additional financing to cover the stabilization of the property. Berkadia arranged the deal on behalf of the borrower.
Northland Buys Echo Lake in Bradenton, FL
The company has purchased the 360-unit, Class A community, which was completed earlier this year and is managed by Lincoln Property.
FCP Buys $16M Charleston Apartments
The company purchased Gates at Summerville, a 232-unit garden-style community in the Summerville submarket of Charleston, and plans to add a dog park and sport court and improve the landscaping, common areas and curb appeal.
TerraCap Buys Suburban ATL Portfolio for $116M
The 1,100-unit portfolio is comprised of four assets situated in Atlanta’s northern suburbs. CBRE facilitated TerraCap’s acquisition by arranging a four-year loan provided by Principal Real Estate Investors.
Berkadia Brokers Sale of 150-Unit SC Community
Gladiator purchased Charbonneau for $9.2 million. Mark Boyce and Blake Coffey of Berkadia’s Charleston team negotiated the transaction on behalf of seller Raith Capital Partners. Mike Zaremski in Berkadia’s New York City office financed the transaction through Fannie Mae.
IPA Arranges $57M Sale of Luxury CA Community
A private investor based in China acquired Luxe, a 131-unit community in Pasadena, Calif. IPA represented the seller, Amcal Equities, and procured the buyer.
Dougherty Secures Acquisition Loan in Dallas
Dougherty Mortgage closed a $5.3 million Fannie Mae loan for the acquisition of a market-rate community in Dallas. Dougherty’s Minneapolis and Vienna, Va., offices arranged the financing through a partnership with Old Capital Lending.