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Richland Living Secures Acquisition Loan for San Antonio Property
Hunt Mortgage Group arranged a $10 million acquisition loan for the 192-unit The Richland Apartments in San Antonio-New Braunfels.
Rosewood Closes $83M Queens Sale
President Aaron Jungreis represented both the seller and the buyer in the exchange of the 343-unit portfolio. The seven buildings were constructed between 1913 and 1941.
Pillar Provides Freddie Mac Loan for Richmond Community
The company originated a $10.4 million, 7-year loan for the acquisition of a 348-unit community located in the Bellwood. The asset has an occupancy rate of 97.4 percent.
Investcorp Snags Phoenix Community for $50M
The 582-unit Tuscany Palms in Mesa, Ariz., last traded in 2014, when P.B. Bell paid $29.5 million for its acquisition.
Greystone Provides $23M HUD Loan for FL Development
Viking Cos. will use the funds to build 23 West Apartments, a 176-unit community in Gainesville, Fla. The HUD-insured loan period covers 17 months of construction plus 40 years.
Sunshine Management Lands $34M Atlanta-Area Community
Sunshine Management acquired the 260-unit property from Fortress Investment Group. The sale was subject to a $25.4 million Fannie Mae loan.
California Investor Expands Texas Portfolio
Creative Realty Partners acquired a 117-unit Dallas multifamily asset from Wellington Realty. The sale was subject to a $5.8 million loan from Hunt Mortgage Group.
NJ Community Changes Hands in $73M Deal
The Addison at Princeton Meadows was built in 1981 and offers studios and one- and two-bedroom units. It was purchased free and clear of existing debt.
Equus Sells $100M Communities in Virginia
Chandler Management purchased two residential properties totaling 676 units in Fredericksburg, Va. The seller, Equus, purchased both assets in 2012 for a total of $74.3 million.
The Local Breaks Ground in Tempe
Forum Real Estate Group is developing a mixed-use project that will include a nine-story apartment community with 286 units and a ground-floor Whole Foods Market 365 store.