Property Acquisitions and Dispositions
Magma Equities (“Magma”) in joint venture with funds managed by Franklin Templeton has acquired in an off-market transaction, Cameron SouthPark, a 309-unit apartment community in Charlotte, NC for $79.25 million.
Ashcroft Capital, a fully integrated multifamily investment firm, today announced the acquisitions of Elliot Windsprint (formerly Windsprint Apartments) in Arlington, Texas, and Halston Park Central (formerly Savannah at Park Central) in Orlando, Fla. The two communities add a combined 576 apartment homes to Ashcroft’s growing portfolio. Birchstone Residential, Ashcroft Capital’s in-house property management company, has assumed management of the communities.
Berkadia announces it has secured financing for the acquisition of Urbana at Plum Creek, a 144-unit single family, built-to-rent community in Kyle, Texas. Managing Director Scott Wadler of Berkadia Miami and Senior Director Matt Nihan of Berkadia Boca Raton arranged financing on behalf of Beacon Real Estate Group, a commercial real estate acquisition and management firm based in Coral Gables, Fla.
San Diego-based Tower 16 Capital Partners has acquired a four-property portfolio, totaling 572 units in Albuquerque, N.M. The property was acquired from Greenwater Investments for an undisclosed price.
Los Angeles, Calif. – Gelt, Inc. is pleased to announce it has acquired Willow Point Townhomes for $69 million in an off-market transaction. The 117-unit, rental community is located at 8500 E. Mississippi Avenue in Denver, CO.