The properties acquired total a combined 317 units and increase the firm’s multifamily holdings in Chicago to 1,063 units and its total holdings in the Washington DC metro area to 1,169 units, according to John Williams, president and CIO at Avanath Capital Management.
The brokerage firm reports the non-recourse loan for the Jersey City-based REIT was funded by Apollo Global Management through Athene Annuity & Life Assurance Co.
The Soleste Grand Central apartment tower will open in 2021 with 320 market-rate units and 40 affordably priced units.
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