Finance & Investment
Sussex Capital Snags LA Community
Avison Young brokered the deal, which amounted to $450,000 per unit. The property, called Hillpointe, includes 30 units in Hollywood Hills.
Aimco Buys Out Palazzo JV Partners for $452M
The company sourced funds for the acquisition by taking title subject to existing allocable debt and using cash proceeds from the pending sales of some of its assets in the Northeast.
JLL Arranges $88M for Long Island Properties
The company secured the loan for a 700-unit community in Moriches, N.Y., and a 200-unit community in Medford, N.Y.
MedEquities Buys CT Skilled Nursing Facility from Prospect Medical
Prospect ECHN Eldercare Services Inc. leased the 65,000-square-foot property in Tolland, Conn., which changed hands for an aggregate cash price of $10 million.
Greystar-Led Fund Acquires Monogram Residential
The $3 billion deal encompasses 49 communities and nearly 14,000 units in 10 states. Joining Greystar as the REIT’s co-owners will be affiliates of APG Asset Management N.V., GIC and Ivanhoe Cambridge.
LA Investor Snags $107M Suburban Denver Portfolio
Gelt’s acquisition includes two assets in Lakewood: the 408-unit Ascend at Red Rocks and the 172-unit Elevate at Red Rocks.
10 Markets with the Greatest Rent Loss
Rent growth has been decelerating nationally after a wave of new development. Here are markets with the greatest loss in rents over the year.
On the Market: 5 Interesting Listings for the Week of 7/03/17
This week’s listings include a recently renovated community in San Antonio and a rustic condo asset located right off the slopes in Steamboat Springs, Colo.
Strawberry Fields Refinances TN Skilled Nursing Facilities
The $27.2 million HUD guaranteed loans from Capital One Multifamily Finance have a 35-year term at a 3.43 percent fixed interest rate. The REIT acquired the three properties last year.
Boston Investor Buys CA Portfolio
Rockpoint Group, in a joint venture with Strategic Housing Partners, has acquired 500 units in Torrance, Calif., with plans to upgrade the apartments.