Property Acquisitions and Dispositions

CAPREIT, a national real estate development and investment company responsible for the ownership and management of more than $5 billion of multifamily assets, today announced the acquisition of Madison Cypress Lakes, a 1,002-unit apartment community in the Tennessee suburbs of Memphis. The community will be rebranded as Waterview Apartments. 

Greystone Brown Real Estate Advisors today announced it has closed on the sale of Oglethorpe Square, a 160-unit apartment community, for $18,095,000. Located in Pooler, GA in Chatham County, the property was sold on September 27. Bo Brown and Steve Mack of Greystone Brown Real Estate Advisors represented the buyer and seller in the transaction.

Greystone, a real estate lending, investment and advisory company, today announced it has provided a $26.65 million Fannie Mae DUS® loan in combination with $5.35 million in preferred equity from New York Mortgage Trust, Inc., for the acquisition of Autumn Park, a 358-unit multifamily property in Newark, Delaware. The transaction was originated by Keith Hires of Greystone’s Atlanta office with Ryan Ade and Neil Campbell of HFF as correspondents on the deal.

Greystone Bel Real Estate Advisors announced it has closed on the sale of Van Dyke Manor Apartments in Detroit, MI, for $2,545,000. The 38-unit building was purchased on July 10 by Jennie and Paul Silva of Silva Properties. Cary Belovicz, Executive Managing Director of Greystone Bel Real Estate Advisors, led the transaction on behalf of the buyers.

Harmony Housing, a non-profit organization that owns and acquires affordable housing in the U.S., today announced it has completed recent acquisitions of three multifamily properties in Texas. Part of a growing portfolio of over 5,000 rental units accumulated in the last three years, the properties will benefit from preservation as affordable housing on a permanent basis. 

Greystone, a real estate lending, investment and advisory company, announced it has provided a $17,250,000 bridge loan to finance the acquisition of The Pavilions at Monterey in Palm Bay, FL. The transaction was originated by Leor Dimant of Greystone’s New York office.

SOUTHAVEN, Miss. – June 29, 2017 – CAPREIT, a national real estate development and investment company responsible for the ownership and management of more than $5 billion of multifamily assets, today announced the acquisition of Legacy Crossing, a 430-unit apartment community in the Mississippi suburbs of Memphis.

Greystone Real Estate Advisors’ Affordable Housing group today announced it has closed on the sale of Brentwood Apartments, a 98-unit affordable housing community, for $3,250,000. Located in Sioux Falls, SD, the asset was sold by Sioux Falls Leased Housing Associates II, LP to Legacy Development & Consulting Company, LLC. Eric Taylor of Greystone Real Estate Advisors’ Affordable Housing group represented the seller in the transaction.

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