Multifamily

“The Pointe at Preston Ridge fits our current strategy of investing in existing multifamily communities that can benefit from A|P's property management expertise and value add/renovation program,” says Mark Briggs, chief operating officer at Atlantic | Pacific Real Estate Group.

Some properties are being sold within two years, and this quick timing was evident with 12 apartment communities that recently sold in North Texas totaling 3,200 units valued at $275 million.

BTI also reports it has obtained a $12-million loan secured by the 100-acre property from Florida Community Bank. A spokesman for BTI tells Globest.com that while the 100-acre parcel is on the market for sale, BTI still could possibly be involved in the development of the property.

Multifamily developers have focused a lot on the CBD, but the suburbs have seen strong rent growth.

It plans to realize more than $350 million in acquisitions of multifamily properties in the US.

Funds managed by Stone Point Capital are acquiring a majority stake in Sabal Capital, which will help the firm expand into its next chapter.