Real Estate

MPC invests in Hotel Clermont

Monarch Private Capital has made an investment in Atlanta-based Hotel Clermont. No financial terms were disclosed. In December 2012, BNA Associates acquired the property.

BGL Real Estate sells Kleiman | Evangelista Eye Center

BGL Real Estate Partners said Sept. 21 that it has sold the Kleiman | Evangelista Eye Center to Inland Private Capital. Financial terms weren’t announced. Kleiman | Evangelista, of Arlington, Texas, is a physician-owned outpatient surgical center specializing in ophthalmology care.

Bascom buys Casanova Grove Apartments for $16.7 mln

The Bascom Group has acquired Monterey, California-based Casanova Grove Apartments, an apartment community, for $16.7 million. Anthony Lugo represented the buyer on the deal while Erich Pryor and Thomas Sherlock of Talonvest Capital arranged the financing from NXT Capital.

Angelo Gordon and Candlebrook Properties sell New Jersey apartment property for $146 mln

Angelo Gordon & Co. LP and Candlebrook Properties LLC have sold Plainsboro, New Jersey-based Quail Ridge Apartments, an apartment community, to Kushner Companies for $146 million. Holliday Fenoglio Fowler LP represented the sellers.

Starwood, Trinity Capital and Vanderbilt sell North Carolina seven-property portfolio

Starwood Capital Group, Trinity Capital Advisors and Vanderbilt Partners have sold a seven-property portfolio in Raleigh-Durham, North Carolina for $105.5 million. The buyer was not named. Holliday Fenoglio Fowler LP represented the sellers on the transaction.

Greystar-led round completes take-private buyout of Monogram

A fund led by Greystar Real Estate Partners has closed its previously announced take-private acquisition of Monogram Residential Trust Inc, an operator and developer of luxury apartment communities, for $12 per share. The total value of the deal was about $4.4 billion. The fund’s other investors include APG Asset Management N.V., GIC and Ivanhoe Cambridge. Morgan Stanley served as financial adviser to Monogram while J.P. Morgan Securities LLC did likewise for Greystar. As a result of the closing, Monogram will stop trading on the New York Stock Exchange on September 20, 2017.

Sabra Health Care REIT to buy 49 pct of Enlivant joint ventures

Sabra Health Care REIT Inc has agreed to buy a 49 percent stake in senior housing joint ventures managed by Enlivant for $371 million. Enlivant, backed by TPG Real Estate, will retain 51 percent. The Enlivant joint ventures own 183 senior housing communities, totaling 8,280 units geographically diversified across 20 states.

Arch Street and Cortland Partners buy Texas apartment community

Arch Street Capital Advisors, on behalf of a client, has teamed up with Cortland Partners to acquire Suite 2801, a Euless, Texas-based apartment community. No financial terms were disclosed.

Jernigan invests $14.7 mln in proposed Miami self-storage facility

Jernigan Capital Inc has invested $14.7 million in a Miami-based proposed self-storage facility. Construction will begin during the first quarter of 2018 with the facility expected to open in the second quarter of 2019. The proposed project's developer is Self Storage Associates Inc./Richard Beavers.

Jernigan invests $28.7 mln in California self-storage project

Jernigan Capital Inc has invested $28.7 million in an Inglewood, California-based proposed multi-story self-storage facility. Construction is expected to begin in the first quarter of 2019 and be completed in mid-2020. Inglewood Self-Storage LLC is the developer of the proposed project.