CHICAGO, July 17, 2019 – JLL announces it has closed the sale of a 12-property multifamily portfolio totaling 3,904 units in six key U.S. markets.

JLL marketed the portfolio on behalf of the seller, Berkshire Residential Investments. A Canadian institutional investor purchased the offering. 

The well-diversified portfolio features a mix of core, core-plus and value-add assets in Charlotte, Raleigh-Durham, Atlanta, Nashville, Dallas and Houston with no one market containing more than 26% of the total units. All of the markets are above the national average in terms of employment growth, which provides stable and reliable occupancy rates across the portfolio. Units average 922 square feet overall with an average completion date of 2010 and four of the properties also include a retail component.

The JLL Capital Markets team representing the seller was led by executive managing director Matthew Lawton with other team members, including senior managing directors Roberto Casas, Sean Deasy, Todd Marix and Bill Miller; managing directors Chris Curry, Jeff Glenn, Justin Good and Blake Rogers; and senior director Allan Lynch.