Four US Multifamily Properties Sold
Carroll Organization and NorthStar Realty Finance Corp have purchased a portfolio of four U.S. multifamily properties for $102.5 million.
This is the ninth purchase in 2013 for Carroll Organization, one of the country's leading private real estate companies, which now owns or manages more than 10,000 apartment units in seven states, according to a press release.
The four properties:
- The 288-unit Club at Danforth in Jacksonville, Florida, was built in 1998 and is 96 percent occupied
- The 200-unit Harbour Green in Panama City Beach, Florida has two-story residential buildings and is currently 97 percent occupied.
- The Links at Georgetown in Savannah, Georgia is a 360-unit, multifamily community currently 92 percent occupied.
- Vintage at the Parke is located in the popular residential submarket of Murfreesboro, Tennessee. The 287-unit property is 96 percent occupied.
"All four properties are situated in markets with exceptional market fundamentals and provided Carroll Organization with a great investment opportunities," Carroll Organization chief executive officer M. Patrick Carroll said. "This acquisition is parallel with our strategy of buying in good locations with excellent visibility, and the additional opportunity to increase value through capital improvements and marketing strategies."
U.S.-based private equity firm Cerberus Capital Management LP has sold a 1,900-square-meter land parcel in Tokyo to Japanese general contractor Shimizu Corp, riding on the property market boom in Japan due to Abenomics.
West Loop Holdings, a joint venture of GE Capital Healthcare Financial Services, KMF Senior Housing Investors and Senior Lifestyle Corporation, has sold a senior housing portfolio in the U.S. to Griffin-American Healthcare REIT II.
Frankfurt-based Deutsche Bank has purchased the WestendDuo office tower in Frankfurt from CBRE Global Investors Inc. for approximately €240 million ($326 million).
U.S.-based American Realty Capital Properties has purchased a property portfolio from affiliates of funds managed by Fortress Investment Group LLC for $601.2 million, excluding closing costs.
A consortium spearheaded by Perennial Real Estate Holdings has agreed to purchase a Singapore office and retail tower from the Asia Real Estate Income Fund, which is managed by the Pacific Star Group, for S$970 million ($766 million).
Philips Pension Fund has sold the Symphony Offices to Deka Immobilien GmbH for approximately €215.1 million ($294.5 million), making it the largest real estate transaction in the Netherlands in 2013 to date, according to CBRE.
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