October 11, 2016
Los Angeles-based CBRE Group, Inc. arranged the sale of the Southeast Residential Portfolio (SERP), a 24-property multifamily portfolio, to San Diego-based Strata Equity Group, Inc. An affiliate of New York-based DRA Advisors, LLC divested the assets for more than $720 million, making it one of the largest multifamily transactions in 2016.
CBRE Capital Markets’ Debt & Structured Finance team secured approximately $500 million of acquisition financing on behalf of the buyer.
CBRE’s Malcolm McComb led the transaction for the seller. CBRE’s Bill Chiles and Robert LaChapelle secured the loans.
The SERP portfolio consists of 6,294 units in suburban locations throughout 13 metro areas in the southeast region of the U.S. The properties span four states: Georgia, North Carolina, Tennessee, and South Carolina.
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