Market Rate
On the Market: 5 Interesting Listings for the Week of 10/15
This week’s listings include a student housing investment opportunity in Boca Raton, an affordable community in Tampa, and more.
Penzance Targets Metro Washington with $255M Fund
For its first private-equity fund, the investor-developer anticipates parlaying capital into a portfolio valued at $800 million to $1 billion
Orlando Apartments Sold for $48M
Cushman & Wakefield arranged the sale of the 296-unit Canopy Apartment Villas to Taurus Investment Holdings on behalf of Robbins Property Associates and LEM Capital.
NM Development Lands Tax Relief
The Albuquerque City Council approved the metropolitan redevelopment bond to support construction of the 226-unit Broadstone Northpoint Apartments, which broke ground in early 2017.
Titan Development Proposes ABQ Community
The company’s plans call for the addition of 102 market-rate apartments, adding to the Midtown/University submarket’s existing supply of 3,700 units.
Detroit-Area Portfolio Sells for $20M
Coseo Properties offloaded the two communities, totaling 326 units, five years after acquiring them from the Slatkin Corp. for approximately $11.6 million.
Resort-Style Community Changes Hands in San Antonio
Benimax purchased the 336-unit asset from Stone River Co., in a transaction subject to a $40 million Freddie Mac loan.
IPA Sells CT Multifamily Property
Located in Groton in a quiet country setting, the 2004-built property encompasses 14 buildings totaling 399 units.
Tampa Property Trades for $36M
Harbor Group International sold the community to Frankforter Group. Fannie Mae facilitated the transaction with $28.9 million in acquisition financing.
CBRE Facilitates CA Multifamily Transaction
Kevin Mulhern and Rachel Parsons worked on behalf of seller MG Properties Group, while the buyer, Virtú Investments, benefited from in-house representation.