Property Acquisitions and Dispositions
Greystone Brown Real Estate Advisors announced it has closed the $22,350,000 sale of Wildcreek Apartments, a 242-unit multifamily property in Clarkston, GA. Greystone Brown acted for both parties in the transaction, advising the seller, Tudor McLeod Asset Management, as well as the buyer, Two Water Capital. The transaction, which closed on October 2, 2018, was handled by Chandler Brown, Taylor Brown, and Bo Brown.
Kiser Group, Chicago’s leading multifamily brokerage firm, recently brokered 17 buildings in October throughout Woodlawn, South Shore and Bronzeville. Senior Director Noah Birk and Director Aaron Sklar focus their brokerage efforts throughout Chicago’s south side neighborhoods.
29th Street Capital (29SC), a privately-held real estate operator, has acquired Cali Sommerall Apartments, a 368-unit multifamily community located in the Copperfield/Bear Creek submarket of Houston. 29SC plans to invest over $2 million in capital improvements. Apartments will receive new granite countertops, a modern paint scheme, hardware and fixtures. New amenities will include a package locker delivery system, a dog park, fitness equipment and grilling stations. Renovations are planned for the clubhouse, leasing office, pool and surrounding areas. The new owners will also rebrand the community with a new name, logo and signs.
HOUSTON, TX – October 29, 2018 – HFF announces the sale of The Edge at City Centre, a 284-unit, garden-style multi-housing community near the Texas Medical Center in Houston, Texas.
Greystone, a leading commercial real estate lending, investment, and advisory firm, announced it has provided $45 million in bridge financing for the $60 million acquisition of three Section 8 affordable housing properties in Upper Manhattan. This financing ensures preservation of 143 units of affordable housing in New York City.
Orlando, Fla. - Berkadia has arranged a $35.23 million loan for the acquisition of Canopy Apartment Villas, a multi-family residence of single-story villas and townhomes located in Orlando. Senior Managing Director Mitch Sinberg and Associate Director Matthew Robbins of Berkadia’s Boca Raton office arranged the loan on behalf of the buyer, Taurus Investment Holdings.
Berkadia has arranged a $46.97 million loan for the acquisition of Downtown Dadeland, a seven-acre urban retail development located across from one of the country’s top-performing malls. Located at the intersection of East Kendall, Pinecrest and South Miami, the property consists of 126,133 square feet of ground floor retail space occupied by a mix of national, regional and local tenants, along with 416 condo units and over 500 parking spaces in seven buildings. The retail portion of the property was 97 percent leased at the time of sale.