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PENSACOLA, FL-Cohen Financial has secured an $8.728-million loan for the acquisition of Marcus Pointe, a 248-unit garden-style apartment complex at 6111 Enterprise Drive in Pensacola.
BRANDON, FL-Alliance Residential Company, a Phoenix-based private investment firm, has acquired a 366-unit apartment complex called Westbury at Lake Brandon Apartments for $33.1 million, which translates into $90,437 per apartment.
TAMPA-Jim Bobbitt of CBRE’s Multi-Housing Group tells GlobeSt.com's Jennifer LeClaire that a low cap rate and low interest rate drove investment demand.