Real Estate

Decron acquires California multifamily property for $79 mln

Decron Properties has acquired Woodland Hills, California-based Alura, a multifamily property. The purchase price was $79 million.

Admiral and Security Properties buy Nashville multifamily property

Admiral Capital Group and Security Properties have acquired Nashville-based Cambridge at Hickory Hollow, a multifamily property. No financial terms were disclosed.

Residential rental startup Zumper hires new COO and president

San Francisco-based Zumper, a residential rental startup, has hired Vishal Makhijani as its new chief operating officer and president, according to a source at the firm. Makhijani is the former CEO of Udacity and ex-COO at Zynga. The investors included Axel Springer, Stereo Capital, Blackstone, Dawn Capital, Kleiner Perkins, Breyer Capital, Scott Cook and Goodwater Capital.

Baceline Investments buys Ohio shopping mall and recaps two properties

Baceline Investments has acquired Amelia Center, a shopping mall in Amelia, Ohio. Also, Baceline has recapitalized Antelope Plaza in Salt Lake City and Roebuck Plaza in Birmingham, Alabama. No financial terms were disclosed.

The Original Cakerie expands London, Ontario plant

The Original Cakerie, a maker of frozen desserts for retail and food service customers in Canada and the U.S, is planning on expanding its London, Ontario plant. Construction is slated to begin later this fall. The project will consist of adding a new building onto an existing structure as well as investments in new production lines. The Original Cakerie is a division of St. Paul, Minnesota-based Dessert Holdings, which is backed by Gryphon Investors.

Freshwater Investments acquires Bayview Apartment Homes

Freshwater Investments has acquired Federal Way, Washington-based Bayview Apartment Homes, a multifamily community. No financial terms were disclosed. Avenue5 will manage the property.

McCann and LEM acquire Georgia apartment community

McCann Realty Partners and LEM Capital LP have acquired Marietta, Georgia-based Discovery Gateway Apartments, a 378-home community. No financial terms were disclosed. Pegasus Residential will manage the property.

CIT backs Washington, D.C. multifamily housing project

CIT Group Inc's real estate finance division was a co-lead arranger on $90.6 million in financing for a new multifamily housing project in Washington, D.C. MRP Realty and Barings will build this project, which will consist of of 387 units of studio, one- or two-bedroom apartments with 30 units designated as affordable housing. Completion is expected in the fourth quarter of 2021.

PE-backed Best Life Brands acquires Blue Moon Estate Sales

Best Life Brands LLC, which is backed by The Riverside Company, has acquired North Carolina-based Blue Moon Estate Sales, an estate sale franchise. No financial terms were disclosed.

Waterton appoints CFO

Waterton, a real estate investor and operator, has named Tara Marszewski as chief financial officer. Prior to joining Waterton, Marszewski was CFO of Brookfield Properties' retail group.