Market Rate
NC Community Changes Hands for $21M
Represented by Colliers International, CORE Realty Holdings Management sold the 483-unit Hidden Lakes Apartments to Living Well Homes. Built in 1974, the property provides a value-add opportunity for the buyer.
Bascom Group Buys South Bay Community
The company plans to revitalize the 64-unit infill community in Torrance, Calif. This is the firm’s 37th multifamily property in Los Angeles County.
Queens Apartment Building Up for Grabs
Cushman & Wakefield was chosen to market the sale of a fully occupied, 17-unit residential building in New York City’s most populated borough. The asset presents substantial upside potential.
Orange County Community Trades for $17M
California Landmark Group bought the 86-unit property built in 1973 from a private investor. This is the company’s first Orange County acquisition.
PAC Lands 242-Unit Louisville Community
The company financed the acquisition by assuming a mortgage loan insured by the U.S. Department of Housing and Urban Development.
TruAmerica Buys Denver Community for $53M
The company partnered with Magnolia Real Estate Fund to acquire the 287-unit asset. The companies will implement a renovation plan which will include improvements to common, interior and outdoor areas.
DFW Community Lands $9M Fannie Mae Refi
Dougherty Mortgage arranged the 10-year loan with a 30-year amortization schedule for Villa Creek in Farmers Branch, Texas.
Capital One Provides Freddie Mac Loans for 8 Properties
The financial company closed on $15.5 million in loans for the refinance or acquisition of a more than 200-unit portfolio. The properties are located in California and Arizona.
Fort Worth Community Lands Fannie Mae Loan
Dougherty Mortgage has secured a $3.6 million, 12-year term financing agreement for a 90-unit market-rate community. The loan has a 30-year amortization schedule.
On the Market: 5 Interesting Listings for the Week of 4/24
Last week’s listings include two recently built student housing properties: an amenity-laden 661-bed property catering to students at the University of Florida and a 173-bed community located four blocks from the University of Wisconsin – Milwaukee.