Transactions reported this week included the sale of two apartment complexes.
Oak Coast Properties and BMC Investments purchased St. Moritz Apartments in Lakewood, Colo., for $78 million. The acquisition marks the sixth investment partnership between Oak Coast Properties and BMC, as well as the seventh Oak Coast Properties assignment for BLDG Management, a property management affiliate of BMC.
The 360-unit community brings the Oak Coast Properties Denver portfolio to nearly 4,000 units.
Ares Management sold the Spring Parc, a 399-unit apartment community in Silver Spring, Md., for $70.25 million. The buyer was an affiliate of Bridge Investment Group.
Spring Parc comprises 120 one-bedroom, 232 two-bedroom and 47 three-bedroom units.
