TA Realty LLC, a leading provider of real estate investment management services to institutional and private investors, announced today that it acquired, on behalf of a separate account relationship with a state pension fund, Hanover at Vinnin Square, a 184-unit multifamily property in Swampscott, MA, for $67 million. The transaction marks the second property TA Realty has acquired on behalf of the separate account.

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 Avana Southgate, a 256-unit apartment community on the south side of the state’s largest city. 

Situated less than 20 minutes from downtown Louisville, the community sits in close proximity to the city’s primary thoroughfares and within nine miles of Louisville International Airport. CAPREIT will renovate portions of the community and add washers and dryers to select homes. 

“It’s tough to beat the fantastic location of Avana Southgate, with several local businesses in the immediate area and prime access to key destinations throughout the Louisville area,” said Ernie Heymann, Chief Investment Officer at CAPREIT. “The community will serve as an excellent housing option for the many local-business employees, as well as those who commute to the airport or the downtown corridor.”

Located at 10960 Southgate Manor Drive, Avana Southgate is within minutes of Route 61 and Interstate 65, which offer expedient access to professional employment opportunities throughout the metro area. That includes Worldport, the worldwide air hub for the United Parcel Service. The airport-based hub has more than 20,000 employees. The community also is a short drive from Interstate 265, the gateway to desirable and affluent suburbs on the east side of the city. 

Nearby attractions include historic Churchill Downs, Kentucky Exposition Center, Quail Chase Golf Course, Southgate Shopping Center and Jefferson Mall. The community is within walking distance of a Kroger grocery store, a Jimmy John’s sub shop and several other fast-casual restaurants. Commuters are a three-minute walk from the Hillview Woods stop on the Louisville TARC bus line on Mud Lane. Less than a mile east, Blue Lick Park is home to several recreational outlets, including athletic fields, running trails and picnic areas. 

CAPREIT’s planned renovations for Avana Southgate include upgraded stainless steel appliances, plank flooring, new cabinet fronts, two-tone paint and updated plumbing and lighting fixtures. Existing amenities at the pet-friendly community include a state-of-the-art fitness center, resort-inspired swimming pool, resident clubhouse, business center, personal garages and storage areas, grilling areas and tennis and basketball courts. 

Avana Southgate consists of 1- and 2-bedroom apartments ranging from 680 to 1,488 square feet. The apartments feature 9-foot vaulted ceilings, private balconies or patios, oversized pantries, washer and dryer connections and gas fireplaces in select homes. 

Including Avana Southgate, CAPREIT currently owns and operates nearly 14,000 units across the nation. 

Olympus Property expands their Savannah portfolio with the acquisition of Century at Fenwick Village in Savannah, Georgia. Effective immediately, the property will be renamed "Olympus Fenwick".

 GoldOller Real Estate Investments announced the acquisition of the 208-unit Pierpoint Apartment Homes and the 170-unit The Groves both in Port Orange, FL, adjacent to Daytona Beach. With these latest acquisitions, GoldOller now owns and manages more than 3400 rental apartments in nine communities in North and Central Florida. Both Pierpoint and The Groves enjoy high occupancy and consistent financial performance. GoldOller will make extensive capital improvements to the clubhouses, landscaping, amenities and exteriors as well as interior upgrades.

GoldOller Real Estate Investments announced the acquisition of Charter Court Apartments (formerly School Lane House Apartments) for $56 Million.  Charter Court consists of 500 units within two interconnected eleven story towers at 5450 Wissahickon Ave. in the East Falls section of Philadelphia.

On September 8, 2016, Security Properties purchased Arches at Hidden Creek, a 432-unit multifamily property located in Chandler, AZ for $55,000,000.  SP now own five assets in the Phoenix marketplace.

Preferred Apartment Communities, Inc. (NYSE: APTS) ("PAC" or the "Company") today announced that it acquired a recently constructed 290-unit Class A multifamily community in Jacksonville, Florida named Sorrel Luxury Apartments.  "We believe this is a high quality, Class-A community in a superb location," said John A. Williams, the Chairman and Chief Executive Officer for PAC.  Mr. Williams added, "We continue to add communities in the fast growing Florida market."  PAC financed the acquisition utilizing a first mortgage loan from Prudential Multifamily Mortgage for approximately $33.6 million and has a maturity date of September 1, 2023, a fixed interest rate of 3.44% per annum and will amortize based on a 30-year amortization.  Prudential intends to assign this loan to Fannie Mae within 60 days of closing.

McCann Realty Partners, LLC ("McCann") and its joint venture partner, The Carlyle Group ("Carlyle"), acquired Marquis on Cedar Springs, a 165-unit apartment community located in Dallas, TX. The property will be re-branded Radius Turtle Creek. Built in 2001, the four-story, mid-rise property with a below-grade, two-level parking garage is located at 3604 Cedar Springs Road in Dallas, TX. The community is within the exclusive neighborhood of Turtle Creek, and is bound by Uptown and Downtown Dallas to the south and the high-end residential neighborhoods of Highland Park and University Park to the north. Residents are within walking and biking distance to a wide variety of shopping, dining, entertainment and recreational destinations including Katy Trail, West Village, Klyde Warren and Reverchon Parks, the Arts District, the American Airlines Center and Victory Park.

Global real estate investment company Kennedy Wilson (NYSE: KW) today announced that the company acquired The Townhomes at Lost Canyon, a 157-unit multifamily community in Santa Clarita, California for $61 million. The company invested $19 million of equity (inclusive of closing costs) and secured a 10-year fixed rate loan of $43 million through Fannie Mae at 3.63% to acquire this wholly-owned property.