Strata purchased the portfolio for more than $650 million, according to industry sources. “The improvements will bolster demand and drive our value-added strategy.” “The location and vintage of these assets is appealing from an investment and portfolio diversification standpoint,” Michan continues. Most of the properties will undergo a renovation to upgrade the common-area amenities and finishes within the units. The portfolio contains institutional-quality assets built between 19. These efforts have complemented Strata’s land banking and entitlement division.” “Over the last five years, Strata has rebuilt its income property portfolio after having divested a majority of its assets during the last upcycle. “These acquisitions have expanded Strata’s national presence in line with our long-term investment strategy of delivering attractive, risk-adjusted cash yields in strategic growth markets to our investors,” says Carlos Michan, Strata’s CEO and founder. The securitized loans will be serviced by HFF through its Freddie Mac Program Plus Seller/Servicer program. They were placed with Freddie Mac’s CME Program. The 12 separate, fixed-rate loans were arranged by HFF’s Mona Carlton, Luke Vanderpoel, Chad Russell, Kris Lowe and Ginger O’Reilly. The portfolio contains 4,635 units throughout Denver, Atlanta, Houston and Austin, Tex. SAN DIEGO - Strata Equity Group has received $494.8 million in acquisition financing to purchase a 12-property multifamily portfolio from Blackstone Real Estate Partners VII.
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