Columbus

The new non-profit ecosystem will offer treatment, rehabilitation housing and wrap-around services within a "learning health" system.

This is the sixth closing of the acquisition previously announced in September 2017 with 28 properties now closed for approximately $42 million.

Each of the portfolio's properties are well-located and poised to capitalize on the positive rent environment, thanks to their location within a metropolitan area exhibiting strong fundamentals.

“Westmount is bullish on the Midwest industrial market,” says Clifford Booth, president and CEO of Westmount. “We're actively seeking value-add and opportunistic investments in select markets across the US.”

The property in Columbus consists of 121 units that are completely vacant and have significant deferred maintenance attached to it.

Arbor provided $51.3 million in financing for the Reven SFR Portfolio, an 824-unit portfolio located in Jacksonville, FL; Memphis, TN; Atlanta, GA; Birmingham, AL and Houston, TX under the Freddie Mac Single-Family Rental pilot.

The firm reports that it has secured leases at three of its properties in Ohio, New Mexico and West Virginia.

Blanda relates that the prospects of higher rates will prompt some senior property owners, particularly nursing homes, to lock in long-term rates before further rate hikes.