NEW YORK – Global real estate private equity and debt firm, Asia Capital Real Estate has sold four multifamily communities in Georgia, Florida and North Carolina.
The company completed strategic, value-add repositionings at each of the properties over the past three to five years, prior to the dispositions.
For the first transaction, ACRE sold a 125-unit, 15-building property, The Palms at Palisades, in Brandon, FL to ZMR Capital LLC. The garden-style community offers one-, two- and three-bedroom floorplans that average 845 square feet. After purchasing the property in 2016, ACRE recapitalized the property in 2018 and implemented numerous value-add renovations to the property's units, exterior and amenities. The firm added a include a community clubhouse, business center, children's play area, swimming pool, picnic area, tennis court and dog park at the property.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
