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Reven Housing REIT is using the $51.3 million loan to pay off debt and fund future acquisitions.

Once the deal closes, SST II will acquire a portfolio totalling approximately 2.1 million net rentable square feet of storage space.

The sector performs well even in downturns, a fact appreciated by a lot of buyers.

The San Diego-based real estate owner and operator acquired the 235,214-square-foot property in the Warner Center/Woodland Hills area of Los Angeles for $93 million from Fairfield Warner LLC.

Cohen, a Cortland board member for the last four years and a Cortland advisor for the past six months, will report directly to Cortland CEO Steven DeFrancis.

The $51.74 million sale of Avocet Apartments, a 336-unit multifamily property, recently closed in this fast-growing and affluent westside area at 11340 Alamo Ranch Pkwy. in San Antonio.

The Rockefeller Group last year acquired three buildings to demolish and to construct a new development at 30-36 E. 29th St.

The property achieved an average annualized return of approximately 23% and generated a gain on sale of approximately $12.4 million.