Exclusive Financial Advisor
December 3, 2017
Overview
- On December 19, 2017, CBRE Capital Advisors in coordination with CBRE’s Institutional Multifamily Properties Group, acted as the exclusive financial advisor to Lone Star Funds on the sale of a multifamily portfolio.
- The portfolio was acquired by a joint venture formed by PGIM and Carroll Organization and sold by affiliates of Lone Star Funds.
- Consisting of 28 properties and 8,578 units located across four states and six high-growth Southeastern metropolitan markets, the portfolio represents a unique opportunity for the joint venture to capture strong in-place cash flow and execute on light value-add improvements.
- The portfolio was over 95% occupied at the time of acquisition.
- CBRE Capital Markets’ Debt & Structured Finance team acted as exclusive debt placement agent on behalf of PGIM & Carroll Organization.
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