Property Acquisitions and Dispositions
DENVER, CO – April 23, 2019 – HFF announces it has secured $21 million in financing for Serafina at South Mountain Apartments, a 183-unit, apartment community in Phoenix, Arizona.
TruAmerica Multifamily, in partnership with Oaktree Real Estate Income Trust (“Oaktree”), has acquired Anzio, a 448-unit class “B” multifamily community in Atlanta.
PHILADELPHIA, PA – April 15, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has closed the sale and secured financing for The Commonwealth, a 98-unit, high-rise apartment building in Philadelphia, Pennsylvania.
MORRISTOWN, NJ – April 10, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has closed the $263.8 million sale of Soho Lofts, a 377-unit, luxury apartment property in Jersey City, New Jersey.
CAPREIT, a fully-integrated real estate operating company responsible for the ownership and management of more than $5 billion of multifamily assets, today announced it has acquired Silver Lake Hills, a market-rate apartment community featuring 310 apartment homes near Silver Lake Park in Fenton, Mich.
WASHINGTON, D.C. – April 4, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has arranged $13.35 million in acquisition financing for The Gates of West Bay Apartments, a 202-unit apartment community in Norfolk, Virginia.
Tampa, Fla. — Franklin Street has arranged the sale of University Gardens, a 292-unit multifamily rental community in the University Square submarket of Tampa. Uptown Ambrus Investments, LLC, a private equity investment group, acquired the property from locally-based 13142 22nd, LLC. The buyer paid $23.5 million for the asset, located at 2002 Colonial Parc Drive, which equates to $80,479 per unit or $105.19 per square foot. Darron Kattan, Kevin Kelleher, Zachary Ames and Avery Jordan of Franklin Street Real Estate Services in Tampa represented both parties in the transaction. Franklin Street Capital Advisors’ Casey Siggins and Ben Miller secured financing for the sale.
“The strong buyer demand for University Gardens is another example of the continued desire for investors to own workforce housing in Central Florida, especially in improving submarkets like the University Square area,” said Kelleher, senior director of multifamily investment sales at Franklin Street’s Tampa office. “The area, now commonly referred to as the Innovation Alliance District, has given a spark to a location that was traditionally only Class C or purpose-built student housing. Today, an older asset like University Gardens can be improved and thrive by providing a mid-level rental experience in a submarket which is vastly underserved with that product type.”
Greystone Real Estate Advisors announced it has closed the sale of a prime River North Development Site in Chicago, IL, for $15.8 million. North Wells Capital LLC purchased the land in an all-cash transaction from 707 North Orleans LLC. Bill Montana and Chris Sackley of Greystone represented the seller in the transaction.
Allied Orion Group recently acquired Ashford Apartments (formerly known as Alexan Ashford), located in the heart of Houston’s Energy Corridor, in late February from Trammel Crow Residential. This acquisition marks the firm’s first property purchase in more than 19 years--adding an additional facet to its already established development, acquisitions, and property management focus. Expanding its growing portfolio by acquiring existing Class A and B assets is part of the company’s overall growth plan.
