Multifamily

The portfolio, which also contains a Northern Virginia sub-portfolio, is the largest multifamily transaction in Philadelphia to date, according to Morgan Properties.

An entity of BRT Apartments in which the firm has a 65% interest, has purchased the 312-unit Vive at Kellswater community for $48.1 million, including $33.4 million of mortgage debt assumed in connection with the acquisition.

The deal increases Blue Magma's Atlanta area portfolio to 3,000 value-add units purchased by the firm in less than four years at a cost in excess of $133 million.

A lack of supply and rising housing costs has motivated the City of Inglewood to adopt a temporary rent control policy.

The acquisition was partially financed with tax credits from CREA, an Indianapolis-based full-service tax syndicator that specializes in affordable housing, and loan assumptions from the city of Chicago and the Illinois Housing Development Authority.

Rancho Mirage, a 310-unit multifamily property located in the Las Colinas master-planned community, recently underwent $2 million in property improvements to overhaul units and amenities for that renter group.

HHHunt's Apartment Living division will open six new communities this year in Virginia, Maryland and North Carolina.

Herrera tells Globest.com the specific market dynamics that are keeping South Florida in such high demand with local, domestic and international players and what investors can expect in 2019.