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DC Development Gets $192M in Financing
A joint venture of MRP Realty and FRP Development Corp. is building Bryant Street, a 1,500-unit, mixed-use property in the northeast area of the city.
Atlanta Multifamily Portfolio Trades for $105M
In separate deals, McDowell Properties and Vukota Capital Management each purchased portions of the three-property portfolio in Newnan, Ga., from RADCO Residential.
AvalonBay Sells Houston Property for $98M
Alliance Residential financed the acquisition of the 474-unit Archstone Toscano through a $66.7 million, four-year loan from Zions Bank.
Carter Multifamily Acquires GA Community
The new owner will renovate and reposition the 159-unit garden-style property located south of downtown Savannah. The community was more than 90 percent occupied at the time of sale.
Equity Residential Buys DC-Area Apartment Community
HFF marketed the property in Rockville, Md., on behalf of the seller, a partnership of Hanover Co. and Berkshire Residential Investments.
First Communities Buys Birmingham Apartments for $38M
Grandbridge Real Estate Capital provided more than $26 million in financing through Freddie Mac for the acquisition of the 431-unit community.
2 Phoenix-Area Developments Secure $54M Financing
PCCP LLC provided the two senior loans that will be used to construct IDM Estrella Parkway in Goodyear, and IDM Cooley Station in Gilbert, Ariz.
JV Lands $54M Refi for Connecticut Portfolio
CBRE’s Debt & Structured Finance group arranged the financing, which was provided by Thorofare Capital, to retire the original senior construction loan for Berkeley at Waypointe and Quincy Lofts, located in Norwalk.
New England Portfolio Secures $164M Refi
The 14 communities adding up to 1,620 units are spread across Greater Boston and suburban New Hampshire. PGIM Real Estate Finance originated the Fannie Mae loan.
JAG, New York Life Investment Management Form $100M Acquisition Venture
Formed by Jefferson Apartment Group and New York Life Insurance Co., the investment venture targets the acquisition of 4,000 apartment units and plans to leverage third-party capital partners as it grows.