Continental Realty Corporation (CRC), a Baltimore-based real estate investment and management company active in 12 states, has acquired its second multifamily community in Florida with the recent $82 million purchase of Henley Tampa Palms, located at 15350 Amberly Drive near Tampa. Formerly owned by 29th Street Capital and delivered in 1997, the 315-unit, two-story apartment community was 94 percent leased at the time of this transaction. Berkadia Florida Investment Sales represented the seller in this transaction.

Universe Holdings has acquired Mi-Place at West Rancocas, a 108-unit multifamily asset in Mount Holly Township, NJ. It is the first asset of a two-property portfolio that Universe is acquiring from Fernmoor Homes for $93.5 million. The second part of the transaction, which consists of an additional 232 units, is expected to close in early 2025.

Continental Realty Corporation (CRC), a Baltimore-based real estate investment and management company active in 12 states, has completed the $86.5 million acquisition of Dartmoor Place at Oxford Square, located at 7200 Alden Way in Elkridge, Maryland. CRC now owns and manages 18 multifamily communities throughout the state. Developed by Preston Partners and delivered in 2019, the 258-unit, five-story apartment community was 94 percent leased at the time of this transaction. As part of the acquisition, CRC will assume the in-place 35-year amortizing fixed-rate HUD loan at a 2.79 percent rate. Mike Muldowney, Executive Vice President at CBRE, represented the seller in this off-market transaction.

Expanding its footprint in California’s Inland Empire, San Diego-based Sunrise Management has taken over the management – including marketing, leasing and day-to-day operations – of Riverside’s LuxLiv, a 62-unit multifamily community acquired by Vanamor, a real estate investment firm, for $19.75 million in August of this year.