(Read more on the debt and equity markets and the multifamily market .)

TEMPLE TERRACE, FL-Trevose, PA-based Korman Residential has secured $50 million in senior financing to acquire the 776-unit River Chase Apartments. The move is a value-add opportunity on Korman’s part, and the new owner plans to make improvements to the property including furnishing some units and improving operational efficiencies.

Philadelphia-based BlueStone Real Estate Capital served as advisors to Korman and its institutional equity partner in the transaction. This is second transaction completed between Korman and BlueStone.

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