CAPRE’s Commercial Real Estate Headlines for February 10, 2020: Goldman Sachs and LPC West Acquire Creative Office Building in San Francisco

Check out the latest deals and developments in commercial real estate for February 10, 2020: Lexerd Capital Management  Sponsored Fund Acquires Multifamily Property in Louisville, KY: Lexerd Capital Management, a New Jersey-based sponsor of private equity funds, has announced that one of its funds has acquired “Anchorage Viera” a multifamily property located in Louisville, KY. The property, renamed The Lory of Louisville, consists of nineteen (19) two-story multifamily apartment buildings and one community building. Originally constructed in 1985, the buildings contain one hundred sixty-three (163) dwelling units on 13.45 acres, featuring a gross rentable area of 146,610 square feet. Terms of the transaction were not disclosed. This is the first acquisition for Lexerd in the Louisville, Kentucky area and the second acquisition for the Lexerd Capital Partners High Yield Fund III in 2020. The property has had over $2.5MM in recent capital improvements, including new Hardiplank siding, roofing, parking lot seal and stripe, and refreshed amenities including a clubhouse renovation. Future capital projects include updating kitchens with backsplash and upgrading fixtures, as well as installing soft seating and a television lounge to the common pool area. Turner Impact Capital Acquires Seattle-Area Workforce Housing Community, Its First in the Pacific Northwest: Turner Impact Capital, one of the nation’s largest real estate investment firms dedicated to social impact, has acquired a multifamily housing community near Seattle – marking the firm’s first investment in the Pacific Northwest and bringing its total number of…