WASHINGTON D.C., July 24, 2019 – JLL announces it has closed the sale of The Daley at Shady Grove, a 333-unit multi-housing community with nearly 15,000 square feet of ground-floor retail located in Rockville, Maryland.

American Landmark Apartments (American Landmark), one of the fastest-growing multifamily owner-operators in the country, and RSE Capital Partners (RSE), one of the most active multifamily investors in the country, have acquired a 360-unit apartment community in one of the most desirable parts of Tampa, Florida. Westly Shores Apartments, formerly Price Waterhouse Cooper’s (PwC) corporate campus and now market-rate apartments, was sold by an owner of multifamily assets across the nation.

Orlando, Fla. (July 23, 2019) – Franklin Street has brokered the sale of The Park at Vittoria, a 208-unit luxury apartment community located at 5224 Long Road in the Rosemont submarket of Orlando, Fla. The new owners have since renamed the property as The Isle Apartments and plan to make significant interior and exterior renovations and upgrades.

Darron Kattan, Zach Ames, Kevin Kelleher and Robert Goldfinger of Franklin Street’s Tampa multifamily investment sales team represented the local seller, FVP NKP Waterstone, LLC, and the Philadelphia, Pa.-based buyer, GO Orlando 4 LLC, in the $26.5 million transaction. The asset traded for $127,404 per unit, making it the highest per unit value ever sold in north Orlando’s Rosemont area. 

“With the 10-year interest rate down near two percent and the lack of supply in the market, multifamily asset prices will continue to remain elevated through the end of the year,” said Kattan, managing director for Franklin Street.  “Buyers continue to flock to Florida seeking workforce housing investment opportunities.”

Built in 1991, The Isle Apartments includes amenities such as a resort-style swimming pool, state-of-the-art fitness center, business center, and a community clubhouse with monthly resident events.  Located in north Orlando, The Isles Apartments offers convenient access to popular restaurants and shopping, such as the Winter Park Village and Altamonte Mall.

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.

CHICAGO - Monument Capital Management, an A-Rod CORP company and one of the country’s premier fully integrated real estate investment firms, announces the acquisition of Townhomes at Highcrest, a 176-unit apartment community in Woodbridge, Illinois. Monument Capital Management acquired the property from Highcrest Apartments, LLC and plans to invest approximately $1.5 million in capital improvements throughout the property.

Black Creek Group, a Denver-based real estate investment manager and development firm with a more than 25-year history, today announced the acquisition of two multifamily properties through its investment platform, Black Creek Diversified Property Fund–a perpetual-life, non-traded monthly NAV REIT that owns and operates high-quality commercial real estate across the industrial, office, retail and multifamily sectors. 

The first property, The Daley at Shady Grove Metro, is a 333-unit property in Rockville, MD that was 95 percent leased at the time of closing. The second property, Broadstone Winter Park, is a 268-unit property in Winter Park, FL that was 85 percent leased at the time of closing. The acquisition of the properties comes shortly after the firm completed the sale of 655 Montgomery St., a 263,000 square foot office building in San Francisco, CA and Rialto, a 155,000 SF office project in Austin, TX. 

“Black Creek Diversified Property Fund is committed to providing investors with exposure to institutional-quality assets that span the four major sectors,” said Greg Moran, Black Creek Diversified Property Fund’s Chief Investment Officer. “Focusing on value creation across market cycles, we understand that demand for property types will change which is why we are an active portfolio manager prepared to capitalize on opportunities as conditions change. Multifamily and industrial are two sectors that continue to exhibit strong demand and fundamentals so our expansion within those areas is likely to continue to be a priority.” 

Black Creek Diversified Property Fund has had an active start to 2019, with over $450 million of acquisition and disposition activity. Since the beginning of the year, it has increased its industrial holdings with the acquisition of a 245,000 square foot asset in San Antonio, TX and a 218,000 square foot asset in Greater Cincinnati. In addition to the sale of the office properties in San Francisco and Austin, the fund also disposed of two retail outparcels in Raleigh, NC. Currently, Black Creek Diversified Property Fund holds 49 properties totaling 8.2 million square feet and is currently 92 percent leased. 

“Historically commercial real estate has been one of the strongest performing asset classes, yet many individual investors did not have access to it and as such are under-allocated,” said Raj Dhanda, Black Creek Group’s Chief Executive Officer. “Now the asset class is becoming more accessible with investor friendly-structures and greater transparency which means we can only expect to see investors seek to increase their allocations – driving capital which in turn will support an already strong market.”  

CHARLOTTE, N.C., July 10, 2019 – JLL announces it has arranged the sale and financing of The Lowrie, a 245-unit, mid-rise multi-housing community in Charlotte, North Carolina.

Continental Realty Advisors Ltd. “CRA”, a Denver-based owner of multifamily communities nationwide, and San Francisco-based real estate investment firm The Roxborough Group, LLC, through an affiliate of Roxborough Fund I, L.P. announced the sale of a three-community portfolio comprised of 1,194 units in Las Vegas for $137.5 million. This follows the recent sale of the 400-unit community Tesoro Ranch in Henderson, NV, also a partnership between Continental Realty Advisors, Ltd. and The Roxborough Group, LLC.