Here's a look at some of the biggest multifamily transactions so far in July across the United States:
Columbus, Ohio-based Core Properties entered into a joint venture with Edina, Minn.-based New Life Multifamily Management to purchase two communities near Columbus for $16 million. The two properties are made up of a combined 750 units.
New York-based Angelo, Gordon, & Co. partnered with Denver-based Slavin Multifamily Advisors to acquire a 412-unit property in Phoenix for $42.5 million.
San Mateo, Calif.-based Prometheus Real Estate Group purchased a 48-unit apartment community in Bellevue, Wash. for $16.5 million. The Class A property is scheduled for exterior renovations as part of a rebranding strategy.
Austin, Texas-based American Campus Communities purchased a 480-bed off-campus community in Minneapolis, Minn. for $31 million. Renovations are planned and a 6.6 percent cap rate is projected for next year.
Home Properties acquired a 1,350-unit garden property in Ellicott City, Md. for $186 million. The property was 93 percent occupied at the time of the sale.
If your company is making big acquisition moves and you want MFE's readers to know about it, send me the details at [email protected] or leave a comment below.
