Property Acquisitions and Dispositions
CHARLOTTE, NC – December 3, 2018 – HFF announces the sale of Stonehenge Apartments, a 452-unit, garden-style multi-housing community in the North Raleigh submarket of Raleigh, North Carolina.
Centennial, Colo. – 29th Street Capital (29SC), a privately-held real estate operator, has acquired Southglenn Place Apartments, a 135-unit multifamily community located in Centennial, Colorado. 29SC plans to invest over $1.6 million in capital improvements.
CHARLOTTE, NC – November 28, 2018 – HFF announces the sale and financing of an eight-property multi-housing portfolio totaling 2,883 units in various high-growth submarkets within North Carolina’s Research Triangle.
SAN ANTONIO/CHICAGO –National multifamily real estate company LYND led the acquisition of two Illinois apartment communities that will provide quality and safe housing for American military veterans. The transaction further expands the Texas-based firm’s footprint in and around the Chicago metropolitan area.
Nashville, Tenn. – American Landmark, one of the fastest-growing multifamily owner-operators in the country, has acquired Verse on Bell, a 336-unit garden-style asset in Antioch to be renamed Lyric on Bell. The acquisition punctuates American Landmark’s re-entry into the Tennessee multifamily market, following historically successful multifamily investments in the state. The property was 95 percent occupied at the time of purchase.
Broker represents seller in transaction involving 57 apartments in emerging Miami neighborhood
Mesa, Arizona – 29th Street Capital (29SC), a privately-held real estate operator, has acquired Argenta Apartments, a 396-unit multifamily community located in Mesa, Arizona. 29SC plans to invest over $3.2 million in capital improvements. Interiors will receive updated flooring, new black appliances and upgraded fixtures as well as plumbing and lighting packages. Cabinets will also be re-faced. Exterior improvements will focus on landscaping, A/C units and roof repairs. The new owner will add a dog park and playground and upgrade the pool area.
Admiral Capital Group and Elite Street Capital recently announced the successful sale of The Fields Peachtree Corners, a 490-unit multifamily property located in Norcross, Ga., in the Atlanta MSA. The asset was sold for $51.2 million, representing an increase of over 40% in value.
Los Angeles, CA (Nov. 15, 2018) —Decron Properties has acquired Willow Creek, a 208-unit multifamily community in San Jose, CA for $84.6 million, increasing its annual investment activity for the year to a record $345 million.
