Company Acquisitions
Value-add investment in Palatine marks Eastham’s final acquisition for its Fund VI, and
Odevo, a leading global force in residential property management, today announces the acquisition of Seacrest and PBM, two well-established property management companies in Florida. The acquisitions deepen Odevo’s presence in its largest US market and mark another important step in the company’s international growth journey.
A St. John Properties, Inc. led partnership has acquired 111 townhomes situated at 1827 Hidden Dale Road in Woodlawn within Baltimore County. The community, named The Villas at Patapsco Glen, is the Baltimore-based company’s first venture in the for-rent townhome asset class. The acquisition was a joint venture between St. John Properties and Bethesda-based Somerset Companies, LLC, a group engaged in the development of large mixed-use developments. Situated approximately one mile from St. John Properties’ corporate headquarters, the community was developed and formerly owned by Lennar Corporation. St. John Properties’ Alex Lyons, Assistant Vice President, Acquisitions represented the company in this purchase.
Continental Realty Corporation (CRC), a Baltimore-based real estate investment and management company active in 15 states with more than $4.2 billion in Assets Under Management (AUM), has added to its South Carolina multifamily portfolio with the acquisition of Elevate at Brighton Park, a property with 329 apartment homes located at 115 Great Lawn Drive in Summerville. American Landmark was represented by Newmark’s Alex Okulski in its sale of this property, which is within the Nexton master-planned community.
Value-add investment in Mt. Prospect marks Eastham’s first acquisition for its Fund VII, and
Acquisition of Kelly Hamilton caps a complex, multi-year turnaround effort and positions the property for long-term stability
Continental Realty Corporation (CRC), a Baltimore-based real estate investment and management company active in 14 states with more than $4.2 billion in Assets Under Management (AUM), has expanded into the Houston, Texas retail market with its acquisition of Commons at Willowbrook, a 442,000square foot open-air regional power center. Located at 7502-7540 W. FM 1960, the asset features approximately 32 retailers and restaurants and was 75 percent leased at the time of the transaction. Barry Brown and Ryan West of JLL Houston represented the seller,. Since the start of 2021, CRC has acquired nearly $1 billion worth of retail real estate.
Sack Capital Partners (SCP), a San Francisco-based real estate investment and management firm with multifamily properties throughout the west coast, today announced the acquisition of Fourth & U Apartments, a 171-unit, five-story mid-rise with ground-floor retail at 2020 Fourth Street in Berkeley, CA. SCP plans to execute a value-add strategy at the property by investing in interior and exterior renovations. SCP will also provide onsite property management, and leasing for the asset.
Foxrun and North Pointe mark Eastham’s fourth and fifth acquisitions with local operating partner, Merion Realty Partners
Following many months of planning, reorganizing and onboarding, Reno, Nevada-based CloudTen Residential has announced its merger with Reno-based multifamily management firm Gaston Wilkerson – creating a high-profile residential property management company with 210 employees and over 8,000 units throughout the West and Pacific Northwest. The expanded company operates under the CloudTen brand.
