Lone Star Funds
Exclusive Financial Advisor on the sale of a 28 property, 8,578 unit multifamily portfolio
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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