Finance & Investment
Texas Apartments Change Hands
RailField Realty Partners has acquired Cedars of San Marcos, a 168-unit property in San Marcos. The company plans to spend approximately $2 million on renovations.
HFF Arranges Financing for Denver Property
Located in Colorado Springs, Peak 4420 received a 10-year, fixed-rate loan. The 209-unit community had an occupancy rate of 99.5 percent as of August.
Raleigh Luxury Community Welcomes First Residents
The Carolinian on Glenwood is a 186-unit property built by Clancy & Theys Construction Co. Stiles Residential Group and Grubb Ventures have leased the first units of the asset.
JV Lands $40M Twin Cities Affordable Community
Aeon and The Community Development Trust purchased Seasons Park Apartments, a 422-unit community in Richfield, Minn. The transaction marks Aeon’s largest acquisition and the second-largest investment for CDT.
Denver Workforce Housing Commands $53M
Oak Coast Properties acquired the majority interest in the 384-unit Villas on 76th, increasing its hold in the area to 3,000 units.
Walker & Dunlop Closes $1.9B Acquisition for Greystar
The company financed Greystar’s acquisition of Monogram Residential Trust, including 36 distinct loans on properties throughout the U.S. This represents the largest financing in Walker & Dunlop history.
On the Market: 5 Interesting Listings for the Week of 9/18
This week’s listings include the recently completed rehabilitation of an historic 18-unit building in Jersey City, N.J., and a new townhouse asset in New Hampshire that comes with an adjacent lot available for future development.
Michaelson Acquires 520-Unit TN Community
Purchased for $48 million, The Metropolitan features one- and two-bedroom floorplans. The community has undergone a multi-million dollar renovation over the past few years.
JV to Develop 236-Unit DC Community
Fort Lincoln New Town Corp., The Concordia Group and Buvermo Investments plan a Class A project that will include 36 affordable units.
New Affordable Housing Coming to San Diego
Affirmed Housing began construction of a 79-unit community in Pacific Highlands Ranch. Dubbed Luna, the property will rent to those who earn between 50 and 60 percent of the area’s median income.