Market Rate
STAR Real Estate Ventures Lands $323M Refi for 13-Property Portfolio
Berkadia arranged a 7-year, fixed-rate loan for each property in the portfolio, which totals nearly 4,000 units across seven states throughout the Southeast and Midwest.
Timberland Partners Acquires 2 Memphis-Area Properties
The firm purchased Savannah Creek in Southaven, Miss., and The DeSoto, in Horn Lake, Miss., bringing its total portfolio to 14,966 units in 15 states.
Fort Lauderdale-Area Community Trades for $59M
Bar Invest Group Inc. scooped up the 405-unit apartment property in the suburb of Lauderhill, Fla., from Turner Impact Capital. HFF brokered the sale of the 24-building project built in 1989.
JV Closes on $228M Community Near Amazon HQ2
Polinger Development Co. and a partner have acquired Meridian at Pentagon City, a 534-unit property in Arlington, Va.
Fairfield Residential Adds CA Asset to Management Portfolio
The partially affordable community owned by Mill Creek Residential Trust encompasses 284 units and is located in Orange County’s Laguna Niguel.
Manhattan Rental Building Lands $72M Refi
PGIM Real Estate Finance originated the Fannie Mae financing for the 240-unit Olympia House, located within two blocks of Grand Central Station.
Contour Development Pays $94M for Alabama Portfolio
Cushman & Wakefield arranged the sale of the three properties—The Park at Buckingham, The Park at Callington and Carlyle—for a Texas-based real estate firm which had owned the portfolio for five years.
Denver Rental Property Commands $62M
Gelt Inc. has acquired the 384-unit Cedar Run Apartments from Maxx Properties. The new owner plans to upgrade both apartment interiors and common spaces at the property.
Tampa Bay Community Trades for $32M
Balfour Beatty Communities has acquired the 278-unit property as part of a joint venture. The company’s Florida portfolio has increased to more than 3,500 residences.
Houston Property Receives $37M Refi
Arel Capital will use the senior loan provided by PCCP to refinance Bayou on the Bend, a 241-unit multifamily asset in the city’s Memorial neighborhood.