A garden-style apartment property in Ocala sold for $49.7 million, or $151,677 per unit. Atlanta-based Cortland Partners sold the 328-unit property, called Deerwood Village Apartment Homes, to Boston-based Westshore LLC. Deerwood Village had a 94 percent occupancy rate at the time of the sale. Built in 2006, Deerwood Village has 40 two-story residential buildings with one-, two- and three-bedroom apartments with an average size of 1,015 square feet. Monthly rents average $1,266 for Deerwood Village apartments, ... [more]
A joint venture between Coastline Management and Tower Capital Group paid $33.2 million for an apartment complex in Miami Gardens. EB Real Estate Group, an investment firm in New York, sold the 234-unit Park Plaza Apartments for about $142,000 per unit, according to a press release. Berkadia's Tal Frydman, Yoav Yuhjtman and Nicholas Perrone represented the buyer and seller. Freddie Mac provided a $25.4 million loan. Property records show EB Park Plaza LP paid $22.7 ... [more]
Auerbach Funds and Nicas Group Capital have acquired a portfolio of apartment communities in Atlanta and Greensboro, North Carolina. The value of the portfolio is over $13.5 million. PRESS RELEASE ATLANTA [...]
Minto Apartment REIT Announces October 2018 Cash Distribution Canada NewsWire OTTAWA, Oct. 15, 2018 OTTAWA, Oct. 15, 2018 /CNW/ - Minto Apartment Real Estate Investment Trust (the "REIT") (TSX:MI) today announced a cash distribution of $0.03416 per REIT unit for the month of October 2018, representing $0.41 per REIT unit on an annualized basis. Payment will be made on November 15, 2018 to unitholders of record as at October 31, 2018. About Minto Apartment Real Estate Investment Trust Minto Apartment Real Estate Investment Trust is an unincorporated, open-ended real estate investment ...Full story available on Benzinga.com.
Hunt Real Estate Capital provided a $18.3 million Fannie Mae DUS loan to finance the acquisition of Fields at Archdale, a 243-unit garden-style community.
QuickLiquidity Purchases Limited Partnership Interest in a 424-Unit Apartment Community PR Newswire BOCA RATON, Fla., Oct. 9, 2018 BOCA RATON, Fla., Oct. 9, 2018 /PRNewswire/ -- QuickLiquidity, a private equity firm investing in commercial real estate nationwide, has announced that it has purchased a minority interest position in an existing real estate partnership. The partnership owns a tenants-in-common (TIC) interest in a 424-unit luxury apartment community in Rochester Hills, MI. The partnership was formed in the early 1990s as a commercial real estate syndication. One of the original investors had recently passed away and his two sons became the executors of his estate.
A 220-unit apartment complex in Orlando changed hands after the seller boosted rents by upgrading the property. Chicago-based Redwood Capital Group LLC sold the rental property, called Reserve at Conway, to Virginia-based Chandler Residential Inc. Terms of the deal weren't disclosed. "In the three years Redwood owned Reserve at Conway, we made improvements to the property's amenities and upgraded the unit interiors, resulting in significant rent premiums," Kristina Lynn, vice president of acquisitions at Redwood, ... [more]
Disgraced TV personality Matt Lauer has just sold his Upper East Side apartment for $8 million, according to city property records. That's far above its $7.35 million asking price. The buyer is Khalil Barrage, managing director of public equity in New York for Invus Group, an investment firm. Barrage could not be reached for comment....
Minto Apartment REIT Announces September 2018 Cash Distribution Canada NewsWire OTTAWA, Sept. 14, 2018 OTTAWA, Sept. 14, 2018 /CNW/ - Minto Apartment Real Estate Investment Trust (the "REIT") (TSX:MI) today announced a cash distribution of $0.03416 per REIT unit for the month of September 2018, representing $0.41 per REIT unit on an annualized basis. Payment will be made on October 15, 2018 to unitholders of record as at September 30, 2018. About Minto Apartment Real Estate Investment Trust Minto Apartment Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust ...Full story available on Benzinga.com.
Freshwater Investments, a private equity real estate firm, has acquired Lynnwood, Washington-based Bradford Park Apartment Homes, a 100-unit property. No financial terms were disclosed. PRESS RELEASE SEATTLE [...]