Finance & Investment
CAPREIT Acquires Memphis-Area Apartments
The 430-unit Legacy Crossing comprises one-, two- and three-bedroom affordable apartments ranging from 711 to 1,063 square feet. The company plans on making upgrades to the units.
Austin Investor Acquires 10th Property in DFW
NAPA Ventures plans to renovate both the exterior and interior of The Falls Apartments, its newly acquired 208-unit property in metro Dallas.
George Smith Secures $27M for Hollywood Community
Massie Capital and Glenn & Shannon Dellimore plan to refinance an older acquisition loan and fund further renovations, as well as the off-market acquisition of an adjacent property.
Unveiled: Brook Avenue Apartments in the Bronx
Yuco Real Estate Co.’s $25 million, 66-unit development was financed under Mayor De Blasio’s Housing New York plan.
Texas Multifamily Portfolio Lands $77M Refi
The portfolio was refinanced over the course of six months, with Walker & Dunlop Vice President Dough Hart leading the origination team. The 10-year term Fannie Mae loans have 30-year amortization schedules.
Baltimore Community Lands $73M HUD Construction Loan
The 317-unit Berkleigh in Middle River is part of Baltimore Crossroads @ 95, a large-scale project that will encompass office space, retail, two hotels, 1,000 homes and two multifamily properties.
WTC Secures $70M for Suburban Chicago Property
The company obtained construction and permanent financing for the 301-unit residential component of Wheeling Town Center, a mixed-use development.
Gelt Enters Albuquerque Market
The company purchased Mountain Run Apartments from Chartwell Capital Partners and has plans to renovate and upgrade the amenity spaces.
Hollywood Communities Command $24M
Vista Investment Group sold a pair of properties: 58-unit Avondale Hollywood and 36-unit Sunset Formosa. The deals netted the company $11 million in profit.
Aspen Heights Invests in Student Housing
The student housing portfolio encompasses more than 3,000 beds across the country. Aspen’s Demi Sterling-Kinney will oversee the third-party property management division.