Market Rate
Morgan Properties Buys DC-Area Community for $62M
HFF brokered the sale of the 308-unit community, which is located inside the Capital Beltway and within a 10-mile drive of downtown D.C.
Kiser Group Reps Buyer of Chicago Multifamily Portfolio
The two properties are located in Evanston and used to belong to Stephen Matic. Danny Mantis and Lee Kiser represented the buyer in the $17 million deal.
Oak Residential Expands Atlanta Footprint
The purchase of The Celebration at Sandy Springs marks the firm’s sixth investment in the market. NorthMarq Capital arranged $23.5 million of acquisition financing on behalf of the buyer.
Riverside Community Gets New Management
UBS Realty Investors, the owner of the 2005-built, 256-unit Inland Empire asset, selected Alliance Residential Co. to oversee property operations.
KC Portfolio Scores Acquisition Loan
The two market-rate communities located west of Kansas City add up to 132 units and last traded roughly 15 years ago.
Jacksonville Community Changes Hands
Mody Real Estate Group traded the nearly 200-unit property for almost $11 million, providing a 3-year acquisition loan to the buyer.
Leon Capital Breaks Ground in Austin
The 262-unit Society will have a heavy focus on technology, pulling inspiration from the city’s reputation as a tech destination. Amenities will include creative office space and a resort-style pool.
On the Market: 4 Interesting Listings for the Week of 9/10
This week’s listings include a box factory that was remodeled into multifamily in 2017, located in Richmond’s Manchester neighborhood, as well as a property in Albuquerque that presents a unique opportunity.
Cohen-Esrey Acquires 352-Unit KC Community
The previous owner of the 1986-built property invested close to $2.5 million in renovations and upgrades during the last five years.
City Club Apartments Breaks Ground in KC
The development is located in the city’s Crossroads neighborhood and is set to include 283 units, as well as retail and dining space.