National Property Holdings

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    Multifamily transaction volume in 2017 nearly matched 2016's tally, which was the peak for the current cycle. This year, absorption is expected to keep pace with a spate of new supply, leading to modest rent growth.

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    The 160-unit garden-style multifamily asset, built in 1983 and known as Center West Villas, will be rebranded as Pinewood at National Hills.

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    HFF originated the new $22 million financing package, replacing a previous, floating-rate CMBS loan of $17 million taken in 2015.

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    Ardizzone Enterprises paid well over $12 million for the asset. U.S. Bank, the seller, had foreclosed on the property in 2016.

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