Priderock Capital Partners buys two Florida resi properties for $98m

Priderock Capital Partners bought two class B multifamily communities in Florida from Fairfield Residential for a combined $98m. Totaling 550 units, the buyer secured $67m in acquisition financing from Freddie Mac which was originated by KeyBank. The first asset, the 230-unit Arbor Walk is located in Tampa. The second purchase, Waters Edge, is located in Sunrise, a suburb of Fort Lauderdale. The property features 320 units. The seller bought the properties in 2015 for $67m.