It also has the option to expand at a smaller property on 39th Street.

The loan supports the 453-unit phase of the development.

Castlelake said the collaboration will provide easier access to "attractive pricing."

All the properties are located in the Sunbelt region.

Much of the funding is being used to redeem the REIT's preferred equity in the JV.

The investments will be spread across a range of asset classes.

The performance of Class A's wasn't enough to stop the negative trend.

Fundamentals are expected to remain stable in the second quarter.