Some of functionality may not work while you disabled JavaScript. Enable JavaScript for better User Exprience.

multihousingnews.com 18 hours, 9 minutes ago

Jv Pays $25M For Seattle-area Apartments

Odyssey Properties and L5 Investments received $17 million in Freddie Mac financing for the purchase. : A joint venture between Odyssey Properties and L5 Investments has completed the $24.5 million purchase of Arbor Chase, a 100-unit community in Kent, Wash. The buyer financed the acquisition with a 10-year, $17 million Freddie Mac loan from JLL, according to King County records. LivCor sold the asset, which it acquired from MG Property Group as part of a $199.4 million, five-community portfolio deal in 2017, Yardi Matrix data shows. The transaction included nearly 1,200 units in California and Washington.
Read by 60% of LPs

benzinga.com November 20, 2020

Prudent Growth Partners Completes Its Purchase Of Meadow Pointe Apartments

CHAPEL HILL, N.C., Nov. 20, 2020 /PRNewswire-PRWeb/ -- Prudent Growth Partners, LLC, a Chapel Hill, NC based private equity real estate firm, has completed its $4.40 million acquisition of the 56-unit Meadow Pointe Apartments in Fayetteville, NC. The apartments - built in the 1980s - are located just south of the Reilly Road exit for I-295 and are less than a mile from Ft. ...Full story available on Benzinga.com.
Read by 33% of LPs

benzinga.com November 20, 2020

Tower 16 Capital Partners Acquires Fairways At Lowry Apartments, Its First Multifamily Project In Denver

DENVER, Nov. 20, 2020 /PRNewswire/ -- San Diego-based Tower 16 Capital Partners, in partnership with Dune Real Estate Partners, has acquired the Fairways at Lowry Apartments, a 450-unit multifamily project in Denver, Colorado. The property was acquired from a private seller. "We're very excited about the acquisition of Fairways at Lowry. The project represents our first investment in the Denver MSA which we believe is poised for future rent growth due to the strong demand for workforce housing," said Tower 16 co-founder Tyler Pruett.
Read by 69% of LPs

prnewswire.com November 20, 2020

Tower 16 Capital Partners Acquires Fairways At Lowry Apartments, Its First Multifamily Project In Denver

DENVER, Nov. 20, 2020 /PRNewswire/ -- San Diego-based Tower 16 Capital Partners, in partnership with Dune Real Estate Partners, has acquired the Fairways at Lowry Apartments, a 450-unit multifamily project in Denver, Colorado. The property was acquired from a private seller. "We're very...
Read by 62% of LPs

multihousingnews.com November 16, 2020

Taurus Investment Pays $65M For Orlando Apartments

Berkadia originated nearly $50 million in Freddie Mac financing on behalf of the buyer. : Taurus Investment Holdings has completed the $65 million purchase of Montevista at Windermere, a 360-unit community in Orlando, Fla., according to Orange County records. Berkadia originated a 10-year, $49.7 million Freddie Mac loan. The mortgage carries a variable interest rate with five years of interest-only payments and represents a 75 percent loan-to-value ratio. The Berkadia team included Senior Managing Director Mitch Sinberg and Associate Director Matt Robbins. A partnership between TruAmerica Multifamily and Investcorp sold Montevista at Windermere.
Read by 71% of LPs

benzinga.com November 13, 2020

Disposition Of Trust Units Of Northview Apartment Real Estate Investment Trust

TORONTO, Nov. 13, 2020 /CNW/ - Credit Suisse Securities (Canada), Inc. ("CSSC") announces that on November 2, 2020, as a result of a previously announced arrangement agreement (the "Transaction") involving Northview Apartment Real Estate Investment Trust (the "Issuer"), affiliates of Starlight Group Property Holdings Inc. and KingSett Capital Inc., acquired ownership of 7,144,395 units in the capital of the Issuer ("Units") held by CSSC, representing approximately 10.5921% of the issued and outstanding Units of the Issuer, and 100% of the Units beneficially owned and controlled by CSSC.
Read by 38% of LPs

multihousingnews.com November 12, 2020

S2 Capital Pays $55M For Suburban Phoenix Apartments

Benefit Street Partners originated a $47.2 million loan for the purchase of the 408-unit community. : S2 Capital has completed the $55 million purchase of Eagle Crest, a 408-unit community in Glendale, Ariz. The company received a three-year, $47.2 million acquisition loan from Benefit Street Partners, Yardi Matrix data shows. A private family trust sold the asset, which had an occupancy rate of 97.1 percent as of August 2020. Located on 16 acres at 6451 W. Bell Road, the property encompasses 41 buildings completed in 1987.
Read by 61% of LPs

multihousingnews.com November 05, 2020

Timberland Partners Pays $39M For Minnesota Apartments

The sale of the 205-unit community is the largest real estate transaction to close in Rochester this year. : Timberland Partners has finalized the acquisition of Preserve on Maine, a 205-unit upscale community in Rochester, Minn. Harbor Bay Real Estate Advisors sold the property. The asset traded for $38.5 million, Olmstead County records show. The deal represents the largest real estate transaction in the city this year, according to Post Bulletin. Located on 4 acres at 4010 Maine Ave. SE., the community encompasses two three-story buildings completed in 2017.
Read by 50% of LPs

law.com November 03, 2020

North Carolina Investor Drops $94M On Boca Raton Apartments | Daily Business Review

Bell Partners plans to combine two neighboring multifamily communities into the 270-unit Bell at Broken Sound. : A Greensboro, North Carolina-based multifamily investor-manager bought two Boca Raton communities for $94.25 million with plans to combine the next-door developments into a 270-unit complex. Lidia Dinkova covers South Florida real estate for the Daily Business Review. Contact her at [email protected] or 305-347-6665. On Twitter @LidiaDinkova. A weekly, curated selection of our international content from around the globe, across the business of law, in-house, regulatory, technology and more, with expert insights from our senior editors.
Read by 78% of LPs

multihousingnews.com October 30, 2020

Luxury Chicago Apartments Sell For $33M

Michigan Avenue Real Estate Group opened the 72-unit Near West Side community in 2016.: Dwelle Properties has acquired Madison Throop Place, a 72-unit luxury community in Chicago's Near West Side. Michigan Avenue Real Estate Group sold the asset for $32.8 million, according to Yardi Matrix. The property at 1247 and 1249 W. Madison St. delivered in 2016. Parkway Bank had backed the ground-up development with $37.2 million in construction financing. The two, four-story buildings include a mix of one-, two- and three-bedroom units above street-level retail and covered parking spaces. Floorplans range from 695 to 1,380 square feet.
Read by 76% of LPs