redIQ Deal Highlight: Clarion Partners & Blackfin Acquire Sun Belt Multifamily Portfolio
redIQ Deal Highlight: Clarion Partners & Blackfin Acquire Sun Belt Multifamily Portfolio
redIQ would like to congratulate the team at Clarion and Blackfin for finalizing the acquisition
of a multifamily portfolio consisting of 12 communities in Melbourne, Orlando, and Tampa,
Florida; Charlotte and Wilmington, North Carolina; and Nashville, Tennessee. for $885.5
million. The properties, consisting of over 3500 units, were purchased from Carroll, in
partnership with PGIM Real Estate, in a deal brokered by Eastdil Secured investments team.
DLA Piper served as legal counsel for Clarion Partners. The deal was delayed for four years
while Carroll and PGIM made investments in sustainability on these properties.
The Sun Belt market is leading the way in meeting demand for multifamily housing. Rent
increases are pronounced in these southern markets. Starts are high. Other recent transactions in
the area include Cushman & Wakefield and Greystone arranging the sale of City Heights Hoover and BBG acquiring appraisal firms in the area.
About redIQ
For over ten years, redIQ has provided a comprehensive and dependable underwriting service for multifamily acquisitions teams, brokers, and lenders focused on mid and large-size assets. redIQ’s solutions lead the industry and support the full underwriting process, from standardizing financial documents to producing a final valuation. With our system, analysis takes less time and decision makers can move forward with greater confidence. redIQ users can close more deals, produce better returns, and spend less time worrying about downside.
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