Property Acquisitions and Dispositions
Kiser Group, Chicago’s leading multifamily brokerage firm, represented both the buyer, TLC Management and seller, Greenstone Property Group, in a $43 million, 188-unit off-market deal. Kiser Group’s Principal and Managing Broker Lee Kiser represented both parties in the transaction.
San Diego-based Tower 16 Capital Partners has acquired two properties across two separate transactions totaling 508 units in Phoenix, Ariz., for a total of $78.5 million. Banyantree Apartments, a 232-unit multifamily property located in Phoenix, Ariz., was acquired for $36.5 million. Banyantree was built in 1973 and has been owned and operated by a private family for nearly 30 years. Solano Pointe Apartments, a 276-unit multifamily property located in Glendale, Ariz., was acquired for $42 million. Solano Pointe was built in 1983 and was secured on an off-market basis.
Greystone Brown Real Estate Advisors Handles $36.3 Million Sale of Marietta Asset
JLL Capital Markets announced today that it has arranged $37.308 million construction financing for the development of Kite House at The Parks at Walter Reed, a 109-unit condominium development with 11,000 rentable square feet of ground-floor retail in Washington, D.C.
Oasis Grand II was acquired in an off-market transaction for $71 million
Berkadia announces it has arranged $10.7 million in financing for the acquisition of Lago Mar, a 112-unit multifamily community in Hialeah, Florida. Senior Managing Director Mitch Sinberg and Associate Director Matthew Robbins of Berkadia Boca Raton secured the financing on behalf of Rental Asset Management (RAM), a real estate investment firm based in Fort Lauderdale, Florida.
JLL Capital Markets announced today that it has closed the $81 million sale of Solterra at Civic Center, a 192-unit, garden-style, value-add multi-housing community in Norwalk, California.