Property Acquisitions and Dispositions
Becovic, a Chicago-based multifamily owner and operator, has acquired 6758 N. Sheridan in Chicago, Illinois for $9.8 million. The deal was brokered by Kiser Group’s Advisors Rick Ofman and Danny Logarakis. Kiser Group represented both the seller, The Vranas Family Trust, and Becovic in the transaction.
Tampa and Clearwater, Fla. – Privately-held real estate investment firm 29th Street Capital (29SC) has acquired two apartment communities totaling 503 units in Tampa and Clearwater, Florida for the total sale price of $112 million. The purchase of Henley Tampa Palms and Enclave at Northwood marks the firm’s eight and ninth multifamily acquisitions in the state of Florida, totaling more than 1,200 units in the market.
JLL Capital Markets announced today that it has arranged $30.855 million construction financing for the development of 1115 Dahlia Street at The Parks at Walter Reed (“1115 Dahlia Street”), a 248 bed, 60-unit, purpose built co-living multi-housing development with 21,000 square feet of ground-floor retail in Washington, D.C.
JLL Capital Markets announced today that it has arranged a $35.42 million in acquisition financing for The Parc at Gatlin Commons, a brand new, 200-unit, garden-style multi-housing community in Port St. Lucie, Florida.
JLL Capital Markets announced today that it has arranged $17.8 million in joint venture equity and $39.9 million in construction financing for Avant, a new 253-unit multi-housing development in Ann Arbor, Michigan.
Pensam a nationally recognized multifamily real estate investment firm managing over $3 billion in assets across its equity and lending platforms, is pleased to announce the acquisition of Lakeside Apartments in Wheaton, Illinois and Aspen Place Apartments, in Aurora, Illinois.
"The acquisition of Lakeside and Aspen Place reflects our conviction in the stable market fundamentals across most of Chicago’s suburbs, and in our management strength in those markets,” said Hen Shoval, Principal and Director of Investments at Pensam. “Both properties provide a unique opportunity to add value through selective capital improvements and management practices.”
Long Beach, Calif. September 9, 2021 – Stepp Commercial, a leading multifamily brokerage firm in the Los Angeles market, has completed the $4.39 million portfolio sale of two apartment properties located in the Eastside submarket of Long Beach, CA.
Atlanta – PENLER, an Atlanta-based multifamily real estate investment platform, recently sold its first 240-unit development project to a Florida-based real estate investment firm. PENLER also recently hired three new employees to help manage its rapid growth.