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  • Transactions: October 2017

    The following is a list of transactions that were announced between April 24 and Aug. 26, 2017.

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    July posted a 2.6 percent year-over-year increase, even after a slight decline from June, according to Yardi Matrix. So far this year, rents are up 2.7 percent compared to 2016.

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    Altay Uzun, a multifamily specialist, and Christian Beck, an office property investment specialist, were part of the company’s Hampton Roads team that brokered the deal. A private investment entity based in New York purchased the 160-unit asset in Virginia Beach.

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  • JV Snags $90M DC-Area Portfolio

    Besyata Investment Group and The Scharf Group purchased The Communities at Arbor Vista in the Washington, D.C., submarket of Adelphi, Md. The partnership plans to modernize both the amenities and units.

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    President Patricia Hutchison discusses the company's beginnings, today's multifamily landscape, the lending market and the effects of rising interest rates.

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    The four-unit property sold for $2.3 million to a Washington, D.C., condo developer. Marcus & Millichap represented the seller, a private investor.

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    As part of the firm's strategy, Avesta has commenced a $5 million renovation program to modernize the interior units and upgrade the exterior aesthetics of its latest acquisition.

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