Property Acquisitions and Dispositions
An affiliate of Berkshire Group and TruAmerica Multifamily acquired Career Lofts, a 142-unit Class A apartment community in Laguna Niguel, California. The newly constructed complex will be rebranded as Skye at Laguna Niguel and will be managed by Berkshire Communities, the property management division of Berkshire Group.
Federal Capital Partners® (FCP) is making its first multifamily investment in Atlanta, GA with the recapitalization of two apartment communities totaling 369 units in strong submarkets of Atlanta, GA. Magnolia at Whitlock, with 152 units, is located in Marietta, GA, and The Clarion, with 217 units, is in Decatur, GA. FCP is investing in the two communities through a joint venture with Virginia Beach based real estate investment firm, FortCap Partners.
Camden Property Trust today announced the sale of its Las Vegas portfolio as part of the Company’s capital recycling initiatives. The portfolio included 15 communities with 4,918 apartment homes, a retail center, and approximately 19.6 acres of undeveloped land, and was sold for $630 million.
Southern California-based Nelson Brothers Professional Real Estate recently closed on the sale of Chateau Sera and Tropicana, two student housing apartment complexes acquired in 2012 near the University of Southern California.
WINSTON-SALEM, N.C., April 6, 2016 – ROSS Management Services, a leader in multifamily property management in the Mid-Atlantic region, and Cedar Grove Capital today announced the acquisition of Chesterfield Apartments in the emerging West Winston-Salem submarket.
Inland Real Estate Acquisitions, Inc. Purchases Two Multifamily Properties in Fort Collins, Colorado
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.
Crown Bay Group LLC, along with its partner Adams Investor Group are pleased to announce the closing on their purchase of KRC Bridge Apartments on N Hairston Road in Stone Mountain, a suburb of Atlanta. The property is well positioned near shopping including a Wal-Mart Superstore, and only 1 mile to the Stone Mountain Industrial area with over 200 companies with thousands of employees.
JMG Realty, Inc. today announced the acquisition of Florida Club at Deerwood Apartments; a 180-unit apartment community located in Deerwood Park of one of Jacksonville, Florida's most desirable sub markets through a joint venture partnership.
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.
