Real Estate

Bascom buys Harvard Villa Apartments for $14 mln

The Bascom Group LLC has acquired Torrance, California-based Harvard Villa Apartments, an apartment community. The price of the acquisition was $14 million.

Jernigan Capital invests $20.6 million in two new self-storage development projects

Jernigan Capital has closed two new self-storage development investments at $20.6 million. They include $12.5 million in a proposed Atlanta-based multi-story climate-controlled 941-unit facility and $8.1 million in a proposed multi-story climate-controlled 684-unit facility in Largo, Florida.

Magnolia RE Fund and TruAmerica Multifamily acquire Fox Creek

The Magnolia Real Estate Fund and TruAmerica Multifamily have acquired Thornton, Colorado-based Fox Creek, an apartment community. The value of the transaction was $53 million.

Rockpoint Group acquires Miami office building

Rockpoint Group has acquired 1221 Brickell, a Miami office building. The seller was not identified. No financial terms were disclosed. Holliday Fenoglio Fowler LP represented the owner in the sale.

Westbrook and TIER REIT sells two Washington, D.C. office buildings for $259 mln

Westbrook Partners LLC and TIER REIT have sold two Washington, D.C. office buildings to UNIZO Holdings Company Limited for $259 million. Holliday Fenoglio Fowler LP arranged the sale of the property on behalf of the sellers.

IHP Capital collects $25 mln for eighth fund

IHP Capital Partners has closed its eighth fund at $25 million, according to an SEC filing. Headquartered in Newport Beach, California, IHP Capital invests in residential real estate.

Cerberus restructures global real estate platform with new appointments

Cerberus Capital Management has restructured its global real estate platform with new appointments. Lee S. Millstein, the firm's current head of European and Asian distressed/real estate, has been named global head of real estate while Ronald A. Rawald, head of European real estate advisory, will move from London to New York and become head of international real estate. Also, Daniel Dejanovic will relocate from the firm's London office to its new one in Amsterdam and became head of European real estate.

PRECap VI raises $1.29 bln

PGIM Real Estate said April 27 that its latest fund closed with more than 1 billion pounds ($1.29 billion) in capital. Pramerica Real Estate Capital VI (PRECap VI) will invest in private real estate debt in Europe, providing whole loans, mezzanine and preferred equity. PGIM Real Estate is the real estate investment business of PGIM, which itself is the global investment management business of Prudential Financial Inc.