A San Francisco investor has cashed out of a big apartment complex near O’Hare International Airport for a hefty gain less than three years after buying i, another sign of strength for the suburban multifamily market.
FPA Multifamily has completed the sale of ReNew Mills, an apartment property in Ontario. San Diego-based Interwest Capital Group acquired the asset for $45.6 million.
JLL Capital Markets has arranged the sale of a three-property student housing portfolio totaling 1,152 beds near Florida State University in Tallahassee. Stewart Hayes, Scott Clifton and Jack Goldberger of JLL represented the seller, FPA Multifamily, in the disposition of the properties to Ancient City Capital.
San Francisco-based FPA Multifamily has completed the disposition of The Social Fort Collins, a 68-unit student housing community in Fort Collins. A Denver-based private equity group acquired the property for $25.5 million, or $375,000 per unit.
Rittenhouse Realty Advisors (RRA), a member of GREA, has arranged the $38.8 million sale of ULake, a 401-bed student housing community located near the University of South Florida, Tampa.
FPA Multifamily has sold ReNew, a 128-unit development in the Central Valley community of Visalia, Calif., for $30.65 million.
Salt Lake City-based Bridge Investment Group has acquired ReNew on Sunset, an apartment community located in Suisun City. FPA Multifamily sold the asset for $72 million, or $321,430 per unit.
Redwood Capital Group has acquired ReNew Eden Prairie, a 375-unit apartment complex located at 13905 Chestnut Drive in suburban Minneapolis.
FPA Multifamily has completed the disposition of an apartment property located at 13225 N. Fountain Hills Blvd. in Fountain Hills. A joint venture between Continental Realty Assets, a subsidiary of Denver-based Continental Realty Group, and Tokyo-based Nippon Steel Kowa Real Estate has acquired the asset for $58.2 million.
An overview of the Diversity, Equity and Inclusion Initiatives at Fowler Property Acquisitions.