Finance & Investment
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.
New Owners Secure $25M Refi for Little Rock Apartments
Transcontinental Realty Investors’ and Abode Properties’ property consists of 260 units and is fully leased at market rates. The community was acquired in 2016.
Illinois Senior Living Communities Change Hands
Senior Living Investment Brokerage Inc. sold Keystone Gardens and Keystone Meadows for $12 million. The two properties have nearly 100,000 square feet combined.
Campus Advantage Sells University of South Florida Asset
The company acquired On50 in 2014 and executed a value-add investment strategy. It addressed the property’s deferred maintenance issues, and partnered in an integrated marketing approach delivered by industry specialist Catalyst.
HFF Secures $23M for Walnut Creek Condos
The 48-unit community will be developed by a joint venture led by The Address Co. The property is slated for completion in the summer of 2018.
Dominium Expands GA Portfolio
The company landed the former Laurel Ridge Apartments, renamed Leyland Pointe Apartments, a 276-unit affordable housing community in East Point.
San Antonio Community Gets $17M in Fannie Mae Financing
Dougherty Mortgage LLC arranged a 12-year Fannie Mae acquisition loan for the 344-unit community Parc 410 Apartment Homes in San Antonio.