(Read more on the debt and equity markets andthe multifamilymarket .)
TEMPLE TERRACE, FL-Trevose, PA-based Korman Residential hassecured $50 million in senior financing to acquire the 776-unitRiver Chase Apartments. The move is a value-add opportunity onKorman's part, and the new owner plans to make improvements to theproperty including furnishing some units and improving operationalefficiencies.
Philadelphia-based BlueStone Real Estate Capital served asadvisors to Korman and its institutional equity partner in thetransaction. This is second transaction completed between Kormanand BlueStone.
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