The sellers, Rising Realty Partners and Fortress Investment Group recently implemented an extensive $12 million capital renovation at the 222,524-square-foot campus.

Even sectors like affordable housing that have done well during the pandemic will be affected by cities' health.

Sun Belt markets, particularly those across the Southeast, are experiencing strong rent growth.

The company will acquire Excelsior Multifamily LLC, the Excelsior Group's multifamily property management business in Minneapolis, MN.