RREAF Holdings JV purchases $500m Southeast portfolio spanning seven states

RREAF Holdings in partnership with 3650 REIT and real estate investment and financial services firm DLP Capital, has acquired the Southeast Multifamily Portfolio III (SMP III), with a capitalization of approximately $500 million.

The acquisition, spearheaded by RREAF, was purchased from one seller.

The portfolio includes 10 multifamily properties consisting of more than 2,744 units located in Arkansas, Georgia, Indiana, Mississippi, North Carolina, Oklahoma and South Carolina and marks the trio’s third portfolio acquisition in less than 12 months.

The $500 million portfolio includes Glen at Polo Park in Bentonville, Ark.; River Pointed in Maumelle, Ark.; Village Mill Creek in Statesboro, Ga.; two properties in Indianapolis, Echo Ridge and Pheasant Run; Waterford Place in Greenville, N.C.; Reserve at Long Point in Hattiesburg, Miss.; Traditions at Westmoore in Oklahoma City; 5iftyOne at Tradan Heights in Stillwater, Okla.; and Broad River Trace in Columbia,