Atlanta

Harbert Management Corporation (HMC) has announced its final close on the Harbert Seniors Housing Fund II with total equity commitments coming to approximately $510 million.

NorthMarq's regional office in Seattle arranged the deal on behalf of Seattle-based Trent Development and Atlanta's Hatteras Sky.

The company will distribute money as qualifying tenants develop reopening plans in conjunction with their local Jamestown property management team.

Strong April rent collections and favorable loan terms convinced Preferred Apartment Communities to move forward with the purchase, despite COVID-19 complications.

The firm sold the 400-unit, Georgia apartment community on behalf of Wilkinson Corporation for $130,000 per unit.

Thompson has closed nearly $5 billion in transaction volume in the last 10 years.

The seller, the Teachers Retirement System of the State of Illinois, purchased the property in a foreclosure auction in 2011 for $57 million, about a 31% decline in its market value.

For starters, there will be a much higher level of cleanliness in the workplace, says architect Bill Halter.