Atlanta, GA

CBRE Arranges $500 Million Capitalization of 10-Property Multifamily Portfolio

The properties are located in seven states, stretching from North Carolina to Oklahoma

October 6, 2022

River Pointe in North Little Rock, Arkansas is one of 10 apartment complexes that were recently sold by Hamilton Point Investments LLC.

CBRE has announced the sale of the HPX Portfolio, a 10-property, 2,744-unit multifamily portfolio located across seven states. Hamilton Point Investments LLC sold the portfolio to Dallas-based RREAF Holdings, LLC, a private real estate investment and development firm, in partnership with 3650 REIT and real estate investment and financial services firm, DLP Capital. The total capitalization of the deal is approximately $500 million.

Shea Campbell, Colleen Hendrix, Ashish Cholia, and Malcolm McComb of CBRE Southeast Multifamily represented the seller in the transaction.

The 10 multifamily properties include garden-style complexes located in North Carolina, South Carolina, Georgia, Mississippi, Arkansas, Oklahoma and Indiana. They are:

  • Waterford Place, a 432-unit property located at 2792 Stantonsburg Road in Greenville, North Carolina
  • Broad River Trace, a 240-unit property located at 551 Riverhill Circle in Columbia, South Carolina
  • Village at Mill Creek, a 208-unit property located at 552 E. Main Street in Statesboro, Georgia
  • Reserve at Long Point, a 210-unit property located at 700 Beverly Hills Road in Hattiesburg, Mississippi
  • River Pointe, a 384-unit property located at 7325 River Pointe Drive in North Little Rock, Arkansas
  • Glen at Polo Park, a 356-unit property located at 6601 SW Mallet Road in Bentonville, Arkansas
  • Traditions at Westmoore, a 200-unit property located at 12205 S. Western Ave. in Oklahoma City, Oklahoma
  • 5iftyone at Tradan Heights, a 322-unit property located at 920 S. Murphy Street in Stillwater, Oklahoma
  • Pheasant Run, a 184-unit property located at 7925 Palawan Drive in Indianapolis, Indiana
  • Echo Ridge, a 208-unit property located at 8520 Sierra Ridge Drive in Indianapolis, Indiana

“The multifamily fundamentals in these markets are very appealing and these properties will continue to perform well,” said Ms. Hendrix, Senior Vice President at CBRE in Atlanta. “Despite the number of headwinds and challenges happening in the buy/sell marketplace, this transaction accomplished significant business objectives of both buyer and seller.”

The portfolio’s 10 garden properties were built between 1998 and 2019. The average unit size is 1,005 sq. ft. and the average occupancy is mid-90 percent.