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Broadtree Residential, Inc. Acquires Walden Ridge Apartment Community in Kennesaw, GA


ROCHESTER, N.Y., Nov. 21, 2017 (GLOBE NEWSWIRE) — Broadtree Residential (Broadtree), a private real estate investment trust (REIT ... a 210-unit multifamily community located in Kennesaw, Georgia, for a purchase price of $36 million.


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Posted by: Nasdaq NewsFeed in Top News 4 days ago ROCHESTER, N.Y., Nov21, 2017 (GLOBE NEWSWIRE) — Broadtree Residential (Broadtree), a private real estate investment trust (REIT) managed by Broadstone Real Estate, LLC (Broadstone), today announced the acquisition of the REIT’s third multifamily apartment community, and the re-launch of capital raising activities to fund the continued growth of the REITManagement, the Board of Directors, and other “insiders” have invested more than $49 million in Broadtree, which currently accounts for 50%+ of the offering’s equity capitalizationBroadtree’s multifamily strategy is focused on Class B, stabilized properties in the southeastern U.S., while maintaining flexibility and opportunism for selective market entry On November 9th, Broadtree closed on the acquisition of Walden Ridge, a 210-unit multifamily community located in Kennesaw, Georgia, for a purchase price of $36 millionSimultaneous to closing, Broadtree originated a $23.6 million mortgage with a 10-year term at 4.02% interest, secured via Fannie MaeThe first seven years of the loan are interest only, and the last three years will have amortization based on a 30-year schedule Built in 2002, the Walden Ridge gated apartment community is composed of nine residential buildings totaling 231,200 rentable square feetIn aggregate, the buildings contain 78 one-bedroom units, 104 two-bedroom units, and 28 three-bedroom units, with an average size of approximately 1,100 square feet per unitThe community offers numerous attractive amenities, including units with nine-foot ceilings, walk-in closets, and garden tubs, and a resort-style swimming pool with sun deck, clubhouse, fitness center, tennis court, and dog park. “We are thrilled to announce that Broadtree has resumed capital raising activities, and is now open for investment by new and current investors,” said Chris Czarnecki, Broadstone’s CEO“The Walden Ridge acquisition will serve as a cornerstone of the REIT’s portfolio, and we look forward to announcing additional multifamily apartment community acquisitions as we continue to grow Broadtree on behalf of our Shareholders.” About Broadtree Residential: Broadtree Residential, Inc(Broadtree) is a private real estate investment trust (REIT) designed to provide Shareholders with predictable, tax-sheltered cash flow, and generate attractive total returns via investment in a diversified portfolio of multifamily apartment communities Broadtree seeks residential property acquisitions via outright cash purchases and/or through UPREIT transactionsUPREIT transactions, (where “UPREIT” stands for Umbrella Partnership REIT), provide a tax deferred exit strategy for owners of real estate who might otherwise recognize a significant taxable gain in a cash sale of a highly appreciated property with a low tax basisThese transactions enable the property owner to exchange owned real estate for an interest in a professionally managed portfolio that is diversified by geography and property type. Broadtree, which is externally managed by Broadstone, remains open for investment by accredited investors only, with a minimum initial investment of $200,000Shares are offered via private placementPlease see certain important disclosures regarding Broadtree, including the pending sale of its portfolio of single family rental homes, at broadstone.com/disclosures. Accredited investors are invited to download an investor kit: Broadstone.com/MF Media Contact:Emma BlissSenior Associate, Marketing[email protected]585.287.6479 About Latest Posts Nasdaq NewsFeedGlobeNewswire, a Nasdaq company, is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public Latest posts by Nasdaq NewsFeed (see all) Disposition of Common Shares of Blackhawk Resource Corp- November 24, 2017 Senator Minerals to Acquire Keefe Lake Uranium Project - November 24, 2017 Squire Announces Change to Capital Investment Policy - November 24, 2017 2017-11-21 Nasdaq NewsFeed window.___gcfg = {lang: 'en-US'}; (function(w, d, s) { function go(){ var js, fjs = d.getElementsByTagName(s)[0], load = function(url, id) { if (d.getElementById(id)) {return;} js = d.createElement(s); js.src = url; js.id = id; fjs.parentNode.insertBefore(js, fjs); }; load('//connect.facebook.net/en/all.js#xfbml=1', 'fbjssdk'); load('https://apis.google.com/js/plusone.js', 'gplus1js'); load('//platform.twitter.com/widgets.js', 'tweetjs'); } if (w.addEventListener) { w.addEventListener("load", go, false); } else if (w.attachEvent) { w.attachEvent("onload",go); } }(window, document, 'script')); tweet Previous: Gold Price Forecast: Failed Breakout, Call Unwinding Gathers Pace Next: *Commodities Rally Into The Green Related Articles Disposition of Common Shares of Blackhawk Resource Corp. 4 hours ago TransCanada recovers 44,400 gallons of oil from Keystone pipeline spill site 5 hours ago Hope fades after 9 days of searching for Argentine submarine 5 hours ago var disqus_url = 'https://forextv.com/top-news/broadtree-residential-inc-acquires-walden-ridge-apartment-community-in-kennesaw-ga/'; var disqus_identifier = '614935 https://forextv.com/top-news/broadtree-residential-inc-acquires-walden-ridge-apartment-community-in-kennesaw-ga/'; var disqus_container_id = 'disqus_thread'; var disqus_shortname = 'forextv1'; var disqus_title = "Broadtree Residential, IncAcquires Walden Ridge Apartment Community in Kennesaw, GA"; var disqus_config_custom = window.disqus_config; var disqus_config = function () { /* All currently supported events: onReady: fires when everything is ready, onNewComment: fires when a new comment is posted, onIdentify: fires when user is authenticated */ this.language = '; if (disqus_config_custom) { disqus_config_custom.call(this); } }; (function() { var dsq = document.createElement('script'); dsq.type = 'text/javascript'; dsq.async = true; dsq.src = '//' + disqus_shortname + '.disqus.com/embed.js'; (document.getElementsByTagName('head')[0] || document.getElementsByTagName('body')[0]).appendChild(dsq); })(); (adsbygoogle = window.adsbygoogle || []).push({}); Need A Business Loan? 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