West

AEW Capital Management of Boston acquired the portfolio's 28 Texas-based properties, while funds managed by The Blackstone Group of New York City purchased the portfolio's 68 properties located in 10 high-growth markets across the United States.

The portfolio consists of 2,200 units within 72 assets across 16 cities in Finland.

The deal has an enterprise value of $152.25 million. The acquisition, which is expected to close in October, includes a substantial corporation tax value of more than $13 million.

"Buyers or investors are always looking for a good ROI and so they have to consider various factors including whether or not rent control is a factor and of course, good rents."

The deal caps annual rent increases at 5%, plus inflation, with a maximum of 10% per year.

GlobeSt.com diligently reviewed adaptive reuse projects across the country for our 2019 ADAPT awards. This year, 10 Grand Central has won for the most mindful overall transformation.

Cap rates for student housing assets linked to Power 5 universities have had lower cap rates than other Division I schools, but this year pricing has been almost the same.

A proposed change in the law's disparate impact rule is stirring debate on its potential impact on housing discrimination claims.