Cushman & Wakefield has sold a multifamily portfolio throughout the Southeast on behalf of Varden Capital Properties (VCP) for $106.7 million to the Walden Group.
Tyler Averitt and Craig Hey of Cushman & Wakefield represented the seller in the transaction.
The multifamily portfolio includes 18-property, 1,858-unit apartment communities, here are the properties;
- Seven properties across Alabama
- Five properties in Pensacola, Florida
- Three properties across Tennessee
- One 200-unit property in Pascagoula, Mississippi
- One 203-unit property in Winston-Salem, North Carolina
- One 223-unit property in Houston, Texas
“This was a unique situation where two key private capital clients were able to do a mutually favorable cross-market portfolio sale with our Southeast Multifamily group at Cushman & Wakefield,” Hey said.
“VCP was able to amass the portfolio by purchasing properties that were more complicated executions than the average buyer would be willing to do.”