On September 8, 2016, Security Properties purchased Arches at Hidden Creek, a 432-unit multifamily property located in Chandler, AZ for $55,000,000.  SP now own five assets in the Phoenix marketplace.

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 in the fast growing Florida market."  PAC financed the acquisition utilizing a first mortgage loan from Prudential Multifamily Mortgage for approximately $33.6 million and has a maturity date of September 1, 2023, a fixed interest rate of 3.44% per annum and will amortize based on a 30-year amortization.  Prudential intends to assign this loan to Fannie Mae within 60 days of closing.

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 of Turtle Creek, and is bound by Uptown and Downtown Dallas to the south and the high-end residential neighborhoods of Highland Park and University Park to the north. Residents are within walking and biking distance to a wide variety of shopping, dining, entertainment and recreational destinations including Katy Trail, West Village, Klyde Warren and Reverchon Parks, the Arts District, the American Airlines Center and Victory Park.

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.

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 a rate of LIBOR + 2.48% to acquire this wholly-owned property.

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.

TGM Associates announced today the acquisition of TGM Bay Isle, a garden style apartment community with 582 units located in Saint Petersburg, FL.

Olympus Property continues to expand their DFW portfolio in 2016 with the acquisition of Mansions at Woodbridge (renamed Olympus Woodbridge) in Sachse, Texas and The Davis in Fort Worth, Texas. Together these assets will be kicking off Olympus Property's sixth fund, WW Olympus Property VI, LLC.

McCann Realty Partners ("McCann") and its joint venture partner, Artemis Real Estate Partners, announced the acquisition of Hickory Creek, a 294-unit apartment community located in Richmond, VA.  Built in 1984, the three-story garden-style property is located at 2344 Hickory Creek Drive in the West End of Henrico County.  The property is located just south of West Broad Street off Tuckernuck and Mayland Drive between Gaskins Road and Parham Road. The location provides excellent access to I-64, one of the main thoroughfares in the Richmond area with close proximity to employment and retail destinations, including West Broad Village,Short Pump, and the numerous retail options along West Broad Street. Hickory Creek has large floorplans and mature trees across approximately 20 acres. The property will be managed by Pegasus Residential.