Property Acquisitions and Dispositions
Inland Real Estate Acquisitions, Inc. announced today that it facilitated the acquisitions of two multifamily properties in March, Miramont Apartments and Pinecone Apartments, located in Fort Collins, Colorado. Matthew Tice, senior vice president of Inland Real Estate Acquisitions, facilitated the transactions on behalf of an Inland affiliate.
Officials of The Preiss Company, the nation’s third largest, privately-held, student housing owner-operator, today announced the acquisition of the 546-bed student housing complex, Campus Edge, in Raleigh, N.C., in a joint venture with a private investment group for an undisclosed price. Located at 3551 Cum Laude Ct., Campus Edge is within walking distance to the North Carolina State Centennial campus and approximately two miles from the main campus. The acquisition comes on the heels of the company’s first quarter student housing acquisitions of a three-property portfolio in Boca Raton, Fla., and a transaction in Greensboro, N.C.
Greystone, a New York-based real estate development, lending and advisory company, announced the $8.8 million acquisition of a shovel-ready development site located at 1501 SW 37th Avenue in Miami, FL. The project lies on an approximately 34,000 square foot (net) lot that will be developed into approximately 91,000 square feet of residential and 6,500 square feet (net) of ground-floor retail space.
The site, formerly home to the GlaxoSmithKline and J. Lyons & Co. operations, will comprise mixed use development with a significant focus on rental housing but also including for-sale residential, employment, active retail, amenity, and community uses.
CAPREIT, a national real estate development and investment company responsible for the ownership and management of more than $5 billion of multifamily assets, today announced the acquisition of Waverley Place, a 300-unit apartment community located minutes from the beach on the Sunshine State’s west coast.
ROSS Management Services, a leader in multifamily property management in the Mid-Atlantic region, and Cedar Grove Capital today announced the acquisition of Whispering Pines Apartments and the selection of ROSS as the management partner.
Mill Creek Residential, a leading multifamily developer, investor and operator specializing in premier apartment communities across the U.S., today announced it has broken ground on River North Apartments, its newest luxury apartment community in the city’s burgeoning River North Art District.