San Michele Apartment Homes last sold in late 2015 for $13.4 million. : Haven Realty Capital has sold San Michele Apartment Homes, a 216-unit multifamily asset in Las Vegas, for $38.8 million, according to records filed with Clark County. The buyer, Western Wealth Capital, financed the acquisition with a loan from Bridge Investment Group. The Class B asset last changed hands in December 2015, Yardi Matrix data shows, when Haven paid $13.4 million to buy the community from Fannie Mae. The GSE had been holding the property following a foreclosure action in late 2013.
The 444-unit community in Manassas saw recent renovations to its units and amenities. : A nearly fully occupied community in the Washington, D.C.-area has changed hands for $113 million. A partnership between a fund managed by Clarion Partners LLC and Blackfin Real Estate Investors has acquired Ravens Crest in Manassas, Va., from a partnership between LCOR and a fund managed by the Real Estate Group of Ares Management Corp. The 444-unit community offers one- and two-bedroom floorplans that range from 741 to 956 square feet. The units were recently updated and include new lighting, walk-in closets, and balconies or patios.
The Asian division of M&G Real Estate has acquired two residential buildings in Osaka as part of the UK-based firm's core property strategy for the region, becoming the latest fund manager to tap Japan's hot multi-family market. M&G paid $50... Read More>> The post M&G Real Estate Buys Pair of Osaka Apartment Buildings for $50M appeared first on Mingtiandi.
The sale comes less than a year after the 318-unit Class A development in Morrisville, N.C., delivered. : The Carlyle Group has sold Residences at Shiloh Crossing, a 318-unit Class A community in Morrisville, N.C., to CBRE Global Investors. The sale price was $75.7 million, according to documents filed with Wake and Durham counties. The property, initially a development under Dominion Realty Partners' wing, broke ground in mid-2018 and was completed last year. First Horizon Bank had backed the project with a $33.9 million construction loan, according to Yardi Matrix.
CHAPEL HILL, N.C., April 19, 2021 /PRNewswire-PRWeb/ -- Prudent Growth Partners, LLC, a Chapel Hill, NC based private equity real estate firm, has completed its $6.35 million acquisition of the 110-unit Bethabara Garden Apartments in Winston-Salem, NC. The property, built in the 1980s, is located on Hickory Knoll Drive, and is entirely composed of one-bedroom apartments. Amenities at the community include a swimming pool, onsite ...Full story available on Benzinga.com.
The buyer financed the 301-unit Class A acquisition with a $36.4 million loan from KeyBank. : RSE Capital Partners has paid $66.3 million for Volaris West Kernan, a 301-unit Class A community in Jacksonville, Fla., according to records filed with Duval County. KeyBank financed the purchase with a $36.4 million loan. The seller was Waypoint Residential. The property at 12517 Beach Blvd. opened its doors early last year. Waypoint developed the garden-style community's 17 buildings, backed by $34.6 million in construction financing from Truist Bank, according to Yardi Matrix. Summit Contracting Group was the general contractor.
Edmond de Rothschild buys 384 apartment Merlin Wharf PRS scheme in city's Waterside. : A European property investment company has bought the new Merlin Wharf complex in Leicester's Waterside for PS60 million. Edmond de Rothschild Real Estate Investment Management (REIM) has acquired the huge scheme overlooking the River Soar, in Bath Lane. A few days ago Deutsche Finance International announced it was buying the nearby Tannery student block for PS35.6 million. Edmond de Rothschild's UK residential investment fund had already put up the money for the Merlin Wharf development on behalf of its European institutional investors.
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Canadian Apartment Properties Real Estate Investment Trust Announces Notice Of Termination Of Ires Management Agreement
TORONTO, March 31, 2021 /CNW/ - Canadian Apartment Properties Real Estate Investment Trust (TSX:CAR) ("CAPREIT") announced today that IRES Fund Management Limited (the "Investment Manager"), a wholly-owned subsidiary of CAPREIT, today provided twelve (12) months' notice of termination of its management agreement (the "Management Agreement") with Irish Residential Properties REIT plc ("IRES REIT"), which will become effective March 31, 2022. Pursuant to the Management Agreement, the Investment Manager provides asset and property management services to IRES REIT.
Dlp Real Estate Capital Acquires Multifamily Portfolio Of 1,086 Apartment Units Along The Gulf Coast
ST. AUGUSTINE, Fla., March 16, 2021 /PRNewswire/ -- DLP Real Estate Capital announced its acquisition of the PROSPER Gulf Coast portfolio, a multifamily property portfolio, consisting of four communities along the gulf coasts of Mississippi and Alabama. This 1,086-unit portfolio will greatly impact individuals and families living in these localities as DLP will provide them with affordable and safe, workforce housing. Don Wenner, Founder and CEO of DLP Real Estate Capital comments, "We are excited to close on this large-scale portfolio with over 1,000 apartment homes in four locations across two states.