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The REIT has partnered with several institutional investors for the deal, including BTG Pactual Timberland Investment Group, Highland Capital Management, Medley Management and a major Canadian institutional investor.
The Walker & Dunlop team has now closed three new South Florida apartment development transactions for HG Management, totaling nearly $350 million in sales volume.
“Proven rent premiums for redeveloped units in this market make the community an excellent opportunity for a value-add addition to our portfolio,” says Wilkinson Corporation's George Waymire.