Chelsea Heights

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  • Security Properties Coinvests in Multifamily Fund

    Security properties closes a 2,471-unit fund, sells first asset; an affiliate of True North Capital Partners acquires two Massachusetts apartments in a sale brokered by CBRE/NE; and Meridian negotiates financing for New York communities.

    National 07 November 2013 20:09

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    On behalf of a private investor, Dougherty arranged the financing for the purchase of a Garland, Texas, market-rate community. The 12-year term, three-year interest-only Fannie Mae loan has a 30-year amortization schedule.

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    The newly acquired asset will add 272 units to the company’s portfolio. The new owner is planning to implement value-add improvements.

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