This Week in Multifamily Acquisitions: June 4-8

By Derek Mearns

As the summer kicks off, companies are ramping up their acquisitions efforts across every region of the country. Here’s a look at some of the companies making major moves in a variety of rental markets this week:

Minot, N.D.-based Investors Real Estate Trust (IRET) announced the acquisition of two properties totaling 440 units in Lincoln, Neb. for $34.75 million.
AG-ICC Haven Owner LLC, a joint venture between San Diego-based Interwest Capital Corp. and New York City-based Angelo, Gordon & Co., purchased a 660 unit asset in Tempe, Ariz. for $46.5 million.
Forth Worth, Texas-based Panther Transaction Group acquired a 320 unit complex in Irving, Texas for a rumored $10.1 million. The property was 94 percent occupied at the time of sale and renovations are planned.
Birmingham, Alabama-based Colonial Property Trust purchased a 256 unit property in McKinney, Texas for $29.8 million.
Oak Brook, Ill.-based Inland American Real Estate Trust acquired a 120 unit mid/high rise building in Boston for $23.4 million.
Beverly Hills, Calif.-based Aragon Holdings announced the purchase of a 373 unit Class A property in Orlando for approximately $35 million. The complex was 95 percent occupied at the time of purchase.
Rochester, NY-based Home Properties acquired two properties for a combined $112.2 million. The properties are located in Leesburg, Va. and Centreville, Va. The properties contain 164 and 504 unit, respectively.