Finance & Investment
CIM Group Trades 138-Unit Boulder Community
The Los Angeles-based company sold 9Seventy, a newly constructed project adjacent to the University of Colorado. At the time of the transaction, the property was fully leased.
California MHC Lands $14M Refi Loan
The 10-year fixed-rate loan has 9.5 years of yield maintenance and one year of interest-only payments, followed by a 30-year amortization schedule.
Marcus & Millichap Closes Sale of TX Assisted Living Community
The 87-unit, 95-bed assisted living and memory care community offers studio, one- and two-bedroom apartments ranging from 365 to 864 square feet.
PSRS Snags $80M Loan for CA Community
Pacific Southwest Realty Services arranged the mortgage for Hollister Village, a new luxury Class A residential development located on a13.7-acre site west of Santa Barbara.
Torchlight Provides $80M Refi for Suburban Chicago Community
The firm recapitalized 500 Station, a 417-unit asset in Aurora, Ill., with senior and mezzanine financing. Aurora is connected by local shuttle to the Route 59 commuter rail station, which offers express service to central Chicago.
ASC Arranges Financing for Chicago Multifamily Asset
Winthrop Place, located in Edgewater, will benefit from a $1.5 million refinance loan. The 1968-built property consists of 16 studios and 41 one-bedroom units.
MPE Partners Receives Funding to Acquire Cincinnati Apartments
Hunt Mortgage Group secured acquisition financing from Freddie Mac for 170 garden-style units on two parcels totaling about 8.5 acres. The property consists of eight residential buildings plus a leasing office and maintenance building.
HPI Acquires $23M Atlanta-Area Community
This marks the final acquisition by HPI Real Estate Fund IV, which closed to new investors in December 2016 after purchasing 12 properties totaling 2,616 units.
Orlando Apartments Change Hands for $22M
Dominium Management Services procured the 304-unit community from Fieldstone Properties. The company plans to do a “significant” rehab on the amenities.
29th Street Capital Buys 12th Bay Area Community
The acquisition of the 79-unit community in San Leandro, Calif., brings the company’s multifamily portfolio to more than 7,600 units. As part of its value-add investment strategy, the company plans to invest $2.3 million in capital improvements.