Transactions: April 2016

This month's selection of recent noteworthy multifamily deals.

The following is a list of transactions that were announced between 01/23/2015 – 02/18/2016. To have your transaction featured, submit details to


barringtonBarrington at Mirror Lake

Location: Orlando, Fla.

No. of Units: 740

Buyer: Cortland Partners

Seller/Representative: CBRE Investment Properties

Notes: TIAA-CREF was the seller.

Value: $74.6 million

West Village

Location: Durham, N.C.

No. of Units: 609

Buyer: The Connor Group

Seller/Representative: Federal Capital Partners/Bell Partners

Notes: The property consists of historic converted tobacco warehouse buildings.

Value: $187 million

AMLI at North Briarcliff

Location: Atlanta, Ga.

No. of Units: 537

Buyer: PCCP/Irinda Cap. Mgmt./Lyon Living

Seller/Representative: AMLI Residential

Notes: The property is located on a 20.7-acre lot.

Value: $73.5 million

Sawgrass Cove Apartments

Location: Bradenton, Fla.

No. of Units: 336

Buyer: Inland Real Estate Corp.

Seller/Representative: JBM Institutional Multifamily Advisors

Notes: The seller was a joint venture between Atlas Real Estate Partners and Blue Whale Enterprises.

Value: $39.3 million

SkyHouse Raleigh

Location: Raleigh, N.C.

No. of Units: 320

Buyer: World Wide Group

Seller/Representative: Novare Group/Batson-Cook/Beacon Partners

Notes: The sale set a record for price per unit in the Triangle market.

Value: $103 million

The Village at Lionstone

Location: Colorado Springs, Colo.

No. of Units: 288

Buyer: All Pro Capital

Seller/Representative: Seagate Properties

Notes: CBRE Denver Multifamily Investment Properties represented the seller.

Value: $28.1 million

Jamison Park

Location: North Charleston, S.C.

No. of Units: 216

Buyer: Kettler/Stillman Group

Seller/Representative: Middle Street Partners

Notes: This marks the third community the partners have acquired in Charleston in 75 days.

Value: $22.5 million

Rossmoor Manor Apartments

Location: Rossmoor, Calif.

No. of Units: 150

Buyer: Revere Investments

Seller/Representative: NAI Capital Multifamily Services Group

Notes: NAI Capital Multifamily Services Group represented buyer in this off-market transaction.

Value: $33.5 million

Park Manor Apartments

Location: Newnan, Ga.

No. of Units: 114

Buyer: RADCO Cos.

Seller/Representative: HFF

Notes: LivCor was the seller.

Value: $9.9 million




20broad20 Broad Street

Location: New York, N.Y.

Type of Financing: acquisition

No. of Units: 500

Lender: AllianceBernstein

Arranged By: JLL Capital Markets

Notes: The borrower was MetroLoft, a developer that converts office buildings to residential space.

Amount: $125 million

Park Lafayette Towers

Location: Milwaukee, Wis.

Type of Financing: refinance

No. of Units: 271

Lender: Fannie Mae

Arranged By: KeyBank

Notes: Erik Storz of Key’s Commerical Mortgage Group arraged the financing.

Amount: $51.1 million

2293 N. Milwaukee Ave.

Location: Chicago, Ill.

Type of Financing: construction

No. of Units: 217

Lender: Associated Bank

Arranged By: Associated Bank

Notes: The borrower was 2293 NMA LLC/Henry Street Partners.

Amount: $45 million

Overton Rise

Location: Atlanta, Ga.

Type of Financing: acquisition

No. of Units: 294

Lender: KeyBank National Association

Arranged By: Preferred Apartment Communities

Notes: KeyBank intends to assign this loan to Freddie Mac within 60 days of closing.

Amount: $41.3 million

Cypress Point

Location: Denver, Colo.

Type of Financing: acquisition

No. of Units: 292

Lender: Freddie Mac

Arranged By: HFF

Notes: The property was sold by Jackson Square Properties and purchased by Advenir.

Amount: $33.6 million

4700 Walnut St.

Location: Philadelphia, Pa.

Type of Financing: acquisition

No. of Units: 298

Lender: undisclosed

Arranged By: Colliers International

Notes: The borrower was Heights Advisors, and the lender was undisclosed.

Amount: $24 million

Churchill Park Apartments

Location: San Antonio, Texas

Type of Financing: acquisition

No. of Units: 392

Lender: LegacyTexas

Arranged By: JLL Capital Markets

Notes: The borrower was Frontline Capital Partners.

Amount: $18 million

Montclare Senior Residences

Location: Chicago, Ill.

Type of Financing: construction

No. of Units: 120

Lender: HUD

Arranged By: Love Funding

Notes: Funding was also provided through low-income housing tax credits.

Amount: $12.3 million

Abington Glen Apartments

Location: Abington, Mass.

Type of Financing: acquisition

No. of Units: 90

Lender: undisclosed

Arranged By: Cornerstone Realty Capital

Notes: The borrower was The Claremont Living LLC.

Amount: $11.1 million