C&W sells $106.7 multifamily portfolio for Varden Capital Properties

multifamily property
Alabama Source:Pixabay

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.”