Lone Star Funds Acquires Sunbelt Multifamily Portfolio
Transaction involves 46 multi-family properties located across the sunbelt
Affiliates of Lone Star Funds have acquired a multifamily property portfolio from affiliates of Transcontinental Realty Investors and Macquarie Capital. The portfolio includes 46 new properties totaling 9,205 units located across 17 Sunbelt markets.
“The portfolio’s properties are located in attractive growth markets that we expect to benefit from continued, strong secular trends, including: business relocations, population growth and in-migration, and strong income growth,” says André Collin of Lone Star, President, Commercial Real Estate Funds.
Capital One arranged Freddie Mac financing for the acquisition, and Eastdil Secured provided advisory services to the seller.
Terms of the transaction were not disclosed.