Newmark Multifamily Capital Markets Vice Chairmen Scott Ramey and Patrick Dufour, Director Brad Downing and Associate Paul Grant represented the seller in the sale transaction.
The property traded from Northland–an industry-leading real estate private equity firm based out of Massachusetts–to a joint venture comprising New York-based multifamily acquisition Cove Investment Group and Blue Star Equities.
Newmark’s Executive Managing Director Scott Ramey, Senior Managing Director Ryan Moody, Vice Chairman Patrick Dufour, Directors Brad Downing and Andrew Visnick and Associate Paul Grant were the sole brokers involved in the sale transaction.
Newmark Multifamily Capital Markets Executive Managing Director Scott Ramey, Director Brad Downing, Vice Chairman Patrick Dufour, Associate Paul Grant, and Senior Managing Director Ryan Moody represented the seller in the transaction.
Scott Ramey, Brad Downing and Paul Grant of Newmark represented the Boca Raton, Fla.-based seller in the transaction.
The Chatham Square acquisition brings the Partnership’s total investment into Florida over the past year to over $330,000,000 and 1,200 units.
The asset totals 348,801 square feet and features a mix of studio, one-, two-, and three-bedroom units with an average unit size of 991 square feet.
The sale price equates to more than $291,000 per unit.
Newmark’s Senior Managing Director Scott Ramey and Associate Brad Downing represented the seller while Managing Directors Chris Caison and Josh Davis secured $48.1 million in bank financing for the transaction.
The Class A, 192-unit property spans four floors over 188,316 square feet and was purchased by Nuveen Real Estate.
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