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Lee & Associates New York City senior managing director Ben Tapper in an EXCLUSIVE GlobeSt.com article opines that the new state legislators will create challenges for property owners.
Apart from a select few institutional investors that have access to the capital markets, there are limited secondary market opportunities for SFR loans with middle-tier investors, according to a white paper by Freddie Mac.
The deal for the portfolio secures the Boston-based firm gross proceeds of approximately $113.5 million. The properties are 100% leased to seven tenants. The portfolio was acquired by Exeter Property Group of Conshohocken, PA.
The company announced earlier this year its plan to sell all 26 of its American Golf-owned properties and expects to generate nearly $175 million in capital from the sales.