Global real estate investment company Kennedy Wilson (NYSE: KW) today announced that the company purchased a 430-unit multifamily property in the Seattle suburb of Auburn, Washington, for $81 million. The company invested $19 million of equity (inclusive of closing costs) and secured a 10-year loan of $62.6 million through Freddie Mac at a fixed-rate of 3.63% to acquire this wholly-owned property. “We...
Officials of The Preiss Company, the nation’s third largest, privately-held, student housing owner-operator, today announced that it continues to aggressively add to its student housing portfolio with the acquisition of three properties for an undisclosed amount in joint ventures with a private equity group. The properties include the 4050 Lofts, a 722-bed complex adjacent to the University of South Florida...
Balfour Beatty Communities, a national residential real estate investment and management company responsible for the ownership and operation of more than $6 billion in multifamily assets, announced the acquisition of the Nesbit Palisades apartment community in Alpharetta, Georgia. The property was acquired as part of a joint venture with Harbert United States Real Estate Fund VI, L.P. (“HUSREF VI”), an investment fund...
Cortland Partners is pleased to announce that it has closed on a deal to acquire Stoneridge Apartments, a 630-unit apartment community located in Ashburn, VA in Loudoun County. The transaction signals the multifamily investment and management firm’s first foray into the Washington D.C. market as part of an aggressive growth strategy spanning the Southeast and beyond. Stoneridge presents a unique...
Greystar Real Estate Partners, LLC (“Greystar”), a global leader in the investment, development, and management of rental housing properties, today announced that Greystar Equity Partners IX, L.P. (“GEP IX”) acquired, through separate unrelated transactions, two Los Angeles multifamily properties comprising 374 units for an aggregate purchase price of $178 million. GEP IX is part of Greystar’s flagship, value-add fund series....
