5/5/2023 0 Comments Torchlight investorsThe 468-unit, Class B community was purchased by a joint venture of Torchlight, Balfour Beatty Communities and Apex One Investment Partners. In March, Torchlight acquired the $39.2 million Riverchase Landing in Birmingham, Ala. “The property is in an attractive market, has strong in-place, stable cash flow and is poised to benefit from the continuation of a successful renovation program,” said Zach West, an acquisitions professional at Torchlight, in a prepared statement. Founded in 1995 by Daniel Heflin, Torchlight Investors (Torchlight or the Firm) primarily focuses on commercial real estate-related debt investments for. The new owners are planning to invest in unit upgrades, including new appliances, flooring in kitchens and baths, as well as granite countertops, new cabinetry and light fixtures. Completed in 1996, the asset includes one-, two- and three-bedroom units ranging in size from 690 to 1,180 square feet. Nearby public transportation services and Interstate 270 provide easy access to neighboring cities and employment hubs. Located at 12526 Great Park Circle, Milestone Apartments is 30 miles north of downtown Washington, D.C. Since inception, Torchlight has acquired over 25 billion in commercial real estate debt investments and has approximately 4 billion of AuM. Prior to Torchlight, Luca worked at Investcorp International, Greenstreet Real Estate Partners and LaSalle Investment Management. Torchlight Investors has been managing commercial real estate related debt investments for its institutional clients since 1995. The asset comprises 27 buildings on 32 acres, and the new owners are planning to invest in several upgrades. Torchlight was founded in 1995 to provide investment management services to institutional investors seeking exposure to commercial real estate investments. Torchlight also provided $23 million in financing for the purchase. Torchlight was founded in 1995 to provide investment management services to institutional investors seeking exposure to commercial real estate investments. A media release was made today by Torchlight Investment Group, the subsidiary of PGC that manages the Torchlight group. A joint venture between Torchlight Investors and Hampshire Properties has acquired Milestone Apartments, a 576-unit garden-style apartment community in Germantown, Md.
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