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....
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...
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...
Global real estate investment company Kennedy Wilson (NYSE:KW) today announced that the company acquired a 100% interest in a 386-unit multifamily community in coastal Camarillo, California for $81 million. The property sits adjacent to California State University Channel Islands. The company invested $18 million of equity (inclusive of closing costs) and secured a 7-year loan of $65 million through Freddie Mac at...
Apartment Investment and Management Company ("Aimco") (NYSE: AIV) today announced that it completed the acquisition of Indigo in Redwood City, California. The $320 million acquisition was primarily funded with §1031 like-kind exchange proceeds from sales completed earlier this year. Indigo is a newly completed, ten-story luxury community of 416 well-appointed apartment homes featuring high ceilings, hardwood flooring, oversized windows, contemporary...
