Market Rate
Beachwold Residential Buys $60M Asset
Cushman & Wakefield’s Florida Multifamily Group represented Mercury Investment in its disposition of Hibiscus Springs Rental Homes, located in Tampa’s submarket of Spring Hill.
CBRE Arranges Sale of 413-Unit MN Community
The company’s Keith Collins, Abe Appert, Ted Abramson and Ike Hoffman facilitated the sale on behalf of the seller.
CBRE Team to Represent Seller in 2 CO Transactions
Creekside at Palmer Park and Woodland Hills are both located in Colorado Springs. Griffis/Blessing received $99.5 million for the two assets totaling 488 units.
NC Assets Change Hands for $129M
Las Properties/Lantower Residential acquired Solis Waverly, while Continental Realty Corp. bought Solis Ballantyne. Located in Charlotte, N.C., the 375- and 194-unit communities were both completed in 2016.
JV Secures $49M for 5 South Carolina Properties
Arbor Realty Trust arranged the financing on behalf of Friedlam Partners and EBEX Holdings for the portfolio, which comprises more than 775 units.
Berkadia Lands $37M for TX Asset
The borrower, American Landmark Apartments, will invest in capital improvements, including upgrades to unit interiors and amenity packages.
Newcastle Acquires Chicago Multifamily Asset
Sean Connelly and Davis Edgerly from 33 Realty represented both the buyer and the seller in the $5.4 million transaction within the Logan Square neighborhood.
Hunt Real Estate Secures $23M for Phoenix-Area 1031 Exchange
The 224-unit Canyon Woods and the 148-unit Shadow Rose are both slated for upgrades, with ownership set to invest roughly $3.5 million in improvements.
Opus Breaks Ground in Downtown Minneapolis
The six-story building is the company’s third residential development in downtown Minneapolis and its eighth in Minnesota. The community is expected to be delivered in 2020.
Covenant Capital Group Raises Record $395M
Covenant Apartment Fund IX is the largest fund in the company’s 18-year history. The capital will go toward revitalizing recently acquired properties.