Berkadia announces it has secured financing for the acquisition of Opus Apartments, a 63-unit, multifamily community in Naples, Fla. Senior Managing Director Charles Foschini and Managing Director Chris Apone of Berkadia Miami secured financing on behalf of the buyer Great America Holdings, based in Miami, Fla.
210 N. Charles Owner, LLC, a joint venture partnership formed by residential developer Trademark Properties and local investor Prab Thangarajah, has acquired 210 North Charles Street, a 15-story, 232,000 square foot commercial office tower situated within the Charles Center section of downtown Baltimore City for an undisclosed amount from PGA 210 North Charles Street, LLC. Originally delivered in 1894 as an eight-story structure, the new ownership group intends to convert the asset, also known as The Fidelity & Deposit Building into a multifamily use containing approximately 220 apartment units. Brad Byrnes of Byrnes & Associates, Inc., a Baltimore-based boutique commercial real estate and investment company, represented the buyer in this sales transaction.
Continental Realty Corporation (CRC), a Baltimore-based real estate investment and management company, has purchased its fifth asset in the greater Charleston, South Carolina metropolitan area with the $55.5 million acquisition of Sweetgrass Landing Apartments, located at 1100 Legends Club Drive in Mount Pleasant. Developed in 2001 and formerly owned by Chaucer Creek Capital, the two-story, 14-building community was 96% leased at the time of this off-market transaction. CRC acquired 175 of the 200 apartment units, with the remaining 25 consisting of privately-owned condominiums. Tai Cohen of Cushman & Wakefield represented the seller.
Berkadia Secures Preferred Equity Partner for Recapitalization of
1,350-Bed Student Housing Portfolio
Tokyo-based Nippon Steel Kowa Real Estate Co., Ltd. (“NSKRE”), advised by Metzler Real Estate, has re-entered the U.S. real estate market in a joint venture with Denver-based Continental Realty Assets, Ltd. (“CRA”), a subsidiary of Continental Realty Group. The partnership acquired Arrive Fountain Hills, a 150-unit multifamily community in the Fountain Hills submarket of Phoenix, Ariz. The property was brokered by Cushman & Wakefield.
Acquisitions mark EPC’s entry into the Orlando multifamily market
Greystone Closes Minority Investment in Passco; Investor-Centric Alliance Expands Acquisition Potential and Deepens Opportunities in the Private Capital Real Estate Arena
PIMCO provided the loan for the acquisition of Nine East 33rd, a 157-unit/568-bed off-campus student housing property near the main entrance of Johns Hopkins University
Industry Leaders Bring Together Debt Platforms and Disposition, Acquisition and Portfolio Assessment Services