Market Rate
Sunshine State Portfolio Changes Hands for $98M
Priderock Capital Partners has picked up the two Class B communities, totaling 550 units, with $67 million in acquisition financing from Freddie Mac.
GSP Arranges $17M Loan for Sacramento Community
The current financing package replaces an existing agency securitization. The loan provided by GSP represents 65 percent LTV ratio and is structured to offer assumption rights if the property changes hands.
Detroit-Area Community Lands $87M Refi
The new mortgage, held by PGIM Real Estate Finance, pays down a previous $70 million CMBS loan on the 667-unit property.
Stepp Arranges Sale of Santa Monica Community
The community sold for a total of $4.3 million at a 3.7 percent cap rate. Stepp Commercial represented both parties in the deal.
Hayden Properties Sells TX Portfolio
RSN Property Group picked up the two Class B San Antonio communities, financing the transaction with a nearly $31 million mortgage.
Berkadia Arranges $39M Acquisition Loan for FL Community
Senior Managing Director Charles Foschini, Managing Director Christopher Apone and Senior Analyst Lourdes Carranza-Alvarez of Berkadia’s South Florida office worked on behalf of the buyer.
On the Market: 4 Interesting Listings for the Week of 10/8
This week’s listings include a value-add opportunity north of NYC and a 1900-built, recently renovated community in a busy Richmond, Va., neighborhood.
Top 10 Inland Empire Multifamily Transactions
The Inland Empire market continues to grow its multifamily inventory at a slow burn, further inflating rent rates and property values. One result is rising per-unit prices, which are about $9,000 higher than the national average.
San Antonio Portfolio Lands $27M Bridge Loan
The new financing package retires $25.4 million in prior debt. The four properties, owned by TerraVista, total 624 units across three of the city’s submarkets.
Hunt Finances Chicago Multifamily Portfolio
The two Freddie Mac loans total $7.4 million and were secured for financing the acquisition of 90 units located across the Bronzeville neighborhood.