Campus First Student Living and CF Real Estate Services LLC, have acquired University Orchard, located less than one-half mile from the main campus of Salisbury University in Salisbury, MD. Salisbury University is part of the University System of Maryland. Campus First will be overseeing the management of this 648-bed property as well as a $600,000 property upgrade program. The property will continue to retain the name University Orchard.

The Bascom Group, LLC ("Bascom") has acquired Pebble Cove Apartments ("Pebble Cove"), a 90-unit garden-style apartment community located at 5101 O'Bannon Drive, Las Vegas, NV 89103.  The $9.1 million sale closed on December 22, 2016.  Patrick Sauter and Art Carll with NAI Vegas were the brokers for the sale. Erich Pryor and Tom Sherlock with Talonvest arranged the $8.46 million loan with TCF Bank. Since 2013, Bascom and its affiliates have acquired twenty-nine multifamily properties in the Las Vegas market, totaling 9,167 units.

Sequoia announces the acquisition of Eddyline at Bridgeport, a 367-unit, Class-A mixed-use apartment building in Tualitin, Oregon. This acquisition increases the firm's Portland-based holdings to more than 2,100 units.  Eddyline was completed with the LEED Silver certification in 2015.  It is comprised of 320,505 rentable square feet in three residential buildings in addition to 22,414 square feet across 10 retail spaces. 

Saban Real Estate (Saban), in partnership with Campus Advantage (CA), has completed the acquisition of nineteen student housing communities from American Campus Communities (ACC) in a transaction valued at $508 million. The 12,083-bed portfolio includes properties serving students at Penn State University, Michigan State University, Louisiana State University, University of Missouri, University of Indiana, University of South Carolina, University of Alabama, Florida State University, University of Alabama-Birmingham, East Carolina University and Western Michigan University.

 Avesta Communities, in partnership with New York-based GRJ, has purchased "Arbors at Carrollwood", an apartment home community off Ehrlich Road in the Carrollwood neighborhood just north of Tampa.  The Arbors is a 390-unit fractured condo community, which will be managed by Avesta's in-house property management division, Avesta Homes.

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.