JVM Realty Corp. (JVM), a leading vertically integrated multifamily real estate investment and property management firm, today announced it has acquired The Landing at Briarcliff (The Landing), a 340-unit luxury apartment community in the prestigious Briarcliff master-planned development in Kansas City, Mo. JVM Management will manage the community.

Berkadia announces it has arranged a $20.261 million refinance loan for Southgate Landing, a 256-unit apartment community in Louisville, Kentucky. Berkadia South Florida’s Senior Managing Director Charles Foschini and Managing Director Christopher Apone arranged the loan on behalf of CAPREIT.

Greystone Brown Real Estate Advisors announced it has closed on the sale of Presidential Tower, one of Atlanta’s most recognizable commercial buildings known for its cylindrical shape. The property was sold by Hays Financial Consulting LLC to Peacock Partnership, Inc., and was represented by Taylor Brown of Greystone Brown.

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CHARLOTTE, N.C. – American Landmark, one of the fastest-growing multifamily owner-operators in the country, has added Matthews Crossing Apartments to its rapidly expanding portfolio of suburban apartment communities. The 460-unit apartment complex, built in two phases during the 1980s and 1990s, will be the ninth American Landmark property in the Charlotte area. It will be renamed “The Madison.”

TAMPA – American Landmark, one of the fastest-growing multifamily owner-operators in the country, has acquired four properties in Florida, Georgia and South Carolina as part of a four-property portfolio purchase totaling 1,212 apartment units.

Holliday Fenoglio Fowler, L.P. (HFF) announces $56.5 million in financing for Willow Crossing, a 579-unit, multi-housing community in the northwest Chicago suburb of Elk Grove Village, Illinois.

The HFF team worked on behalf of The Marquette Companies to secure the five-year, floating-rate loan through Wells Fargo.  Loan proceeds were used to acquire the property and include a future-funding component that the borrower will use to revitalize the well-located asset.

Willow Crossing is located in the thriving Chicago suburb of Elk Grove Village, which is home to excellent public schools, substantial recreational facilities and proximate to major employment hubs.  Willow Crossing consists of 14 buildings in a park-like setting.  Renovated units will feature kitchens with new countertops, stainless steel appliances, walk-in closets, hardwood-style floors and private patios or balconies.  Community amenities include two heated swimming pools, a grilling area, volleyball court, bark park, two playgrounds, fitness center, clubhouse, business center and a mix of surface and under-unit garage parking.  In addition, the transit-oriented property is less than three miles from the Itasca Metra station, which offers commuters access around the entire Chicagoland region.

The HFF debt placement team representing the borrower included managing director Matthew Schoenfeldt.

“Lenders recognized Willow Crossing as a genuine diamond in the rough,” Schoenfeldt said. “This factor, combined with Marquette’s masterful value-creation strategy, allowed us to generate multiple aggressive loan proposals.”

Miami, FL (May 31, 2018) – Franklin Street secured the sale of West Havana Gardens Apartments, an eight-unit rental community in Miami, Florida.  The property is located on 324 SW 19th Avenue in Miami’s Little Havana submarket.  The purchase price of $980,000, or $279.28 per square foot, represents the second highest PSF price for a 1930s-era multifamily property sold in Little Havana. In addition, at $122,500 per door, the asset traded for approximately $7,000-$8,000 above the average per unit sales price of a similar multifamily investment property that traded within the last six months.