Market Rate
Castle Lanterra Sells $50M Chicago Community
The 424-unit Midpointe underwent extensive upgrades to both the interiors and exteriors, including the addition of a resident lounge and fitness center created from underutilized storage space.
Marcus & Millichap Arranges Sale of 3 CO Assets
The properties in the transaction include Elm Grove and Shadow Tree—which the buyer plans to renovate—as well as Fitzsimons Place, all located in Aurora, Colo.
CBRE Brokers Sale of 144-Unit SC Community
Beacon Ridge in Greenville traded for $14.6 million. Represented by CBRE’s Kevin Kempf, Parker Yates, David Lansbury and Phil Brosseau, Grubb Properties sold the asset to PRG Real Estate.
Copeland Lands $33M for TX Asset
The loan will be used to finance the ground-up development of Grand on Beach Apartments, a 302-unit community located northeast of Fort Worth.
Townsend Group Secures 2 in Atlanta Suburb
The company acquired ARIUM Kennesaw and ARIUM Kennesaw Villas, totaling 524 units. Carroll Organization purchased the properties in 2015 as part of Carroll Multifamily Real Estate Fund III LP.
Fort Worth Community Selects New Management
Allied Orion Group will oversee the operations of One Real Estate Investment’s 224-unit market rate property, positioned south of the Tom Landry Freeway.
Aimco Acquires $160M VA Community
Bent Tree is located in Fairfax County, 25 miles west of downtown Washington, D.C. The property features 758 one-, two- and three-bedroom units.
Walker & Dunlop Secures $34M HUD Loan for VA Community
Dwight Dunton III of Bonaventure Realty Group and Philip Roper III bought Meridian Parkside in 2016. The financing will be used to pay off a portion of the ownership’s assumed debt.
TMG Brokers Sale of OC Community
The Landing, a 52-unit community in Newport Beach, Calif. changed hands for $18.5 million or $355,769 per unit. The Mogharebi Group worked on behalf of both parties.
HFF Arranges $32M in Financing for NC Community
Senior Managing Director Travis Anderson and Senior Directors Cory Fowler and Roger Edwards worked on behalf of the developer, Leon Capital Group.