Market Rate
PAC to Invest $18M in NC Multifamily Asset
The aggregate loan will be used by Oxford Properties to develop a 338-unit community in Charlotte. The investment comes with an option for PAC to acquire the asset following stabilization for a convenient sum.
ClearWorth Deepens Houston Footprint With Portfolio Buy
The company acquired two communities, totaling 549 units, in the Clear Lake submarket and plans to renovate both properties extensively.
Green Bridge Closes Bulk Cleveland Sale
Investment Group purchased the assets for $2.9 million. The 90-unit portfolio will undergo a renovation process, estimated to cost between $100,000 and $300,000.
Inland Empire Asset Trades in 1031 Exchange
Providence Capital Group placed a non-contingent offer for the 140-unit community in Hemet, Calif., which traded for $15.5 million. Marcus & Millichap represented the seller and procured the buyer.
DC-Area Community Trades for $129M
Located one mile east of Interstate 270, Fenestra was completed in 2008 and is part of the 1.7 million-square-foot Rockville Town Square.
Forge Partners Sells San Antonio Asset
JLL arranged the sale on behalf of the company. The 50-year-old, 202-unit Parker Apartment Homes presents significant value-add opportunities.
Northern NJ Community Trades for $41M
Gebroe-Hammer Associates represented both parties in the sale of Crest Ridge Apartments, a 178-unit, garden apartment community located in West Orange, N.J.
Rhodium Buys 462-Unit CT Portfolio
The Bridgeport portfolio, acquired in partnership with Toronto-based Firm Capital, encompasses a 179-unit community and 13 other apartment buildings across Bridgeport.
PPD Holdings Eyes $111M to Build, Refi
The company received $47 million to refinance a pair of Greater Atlanta communities and awaits final approval of $64 million in construction financing for 464 units in Florida.
RADCO Expands GA Footprint With 38th Acquisition
The Atlanta-based developer acquired Ashford 6860, a 260-unit property in Norcross. The $22 million deal marks the company’s eighth purchase in the Gwinnett County submarket.