Finance & Investment
PA Properties Land $26M
The two assets are situated in Lancaster and Hershey, Pa., and feature 160 units each. Colliers’ capital markets team secured five-year fixed-rate loans for both properties.
2 Phoenix Assets Trade Hands for $7M
CBRE brokered separate deals for The Markley in east Phoenix, which includes 27 units, and Twin Palms near downtown Phoenix, which includes 20 units.
IPA Brokers Sale of Rio Grande Valley Asset
Executive Director Will Balthrope, Senior Director Drew Kile and Associates Jordan Featherston and Joey Tumminello represented the seller and procured the buyer, Presidium. American Agape Foundation is the former owner of the 288-unit property in Harlingen, Texas.
Berkadia Secures $47M Refi for DC Property
The proceeds were used to refinance existing debt and to pay off an 8 percent pre-payment penalty. The loan was secured through the HUD 223(a)(7) Loan Program.
Denver Luxury Asset Trades for $122M
HFF marketed the 465-unit property on behalf of the seller, Lennar Multifamily Communities, and procured the buyer, Starlight Investments.
Gorman Lands $22M Refi for CO Asset
Walker & Dunlop arranged the atypical eight-year, fixed-rate term loan to refinance Lion’s Ridge Apartment Homes, a 114-unit workforce housing community at the foot of Vail Ski Resort.
RADCO Secures $32M for FL Community
Reflections Apartments in Casselberry, Fla., includes 336 units. The company plans to invest $5 million in capital improvements.
St. Louis Apartments Trade Hands
TriStar Properties has sold the 254-unit Alinea Town & Country in Des Peres, Mo., to Strategic Properties.
Hunt Mortgage Facilitates Acquisition Loan for VA Property
The company worked on behalf of Thalhimer Stratford to secure financing for the purchase of Stratford at Williamsburg, a 156-unit apartment community in Williamsburg, Va.
Marcus & Millichap Arranges Sale of VA Community
The 40-year-old, 22-building community commanded $75,000 per unit. A private investment entity based in New York purchased the 160-unit asset in Virginia Beach.