Recent Transactions

The acquisition of the 219-unit property known as Prairie Park Apartments was completed on October 3, 2026, in partnership with Beverly Hills-based Loboda Properties, marking the team’s second significant acquisition. The Property lies in Eau Claire, Wisconsin, one of the healthier mid-sized markets in the upper Midwest. Constructed between 2011 and 2015, the Property offers an unusually low-density feel that resembles a single-family neighborhood, with large units ranging up to 2,188 square feet, including rare four-bedroom plans. A natural water source on site enables irrigation of the entire Property at no utility cost to ownership. The well-occupied Property provides a strong in-place operating base, and the purchase was financed with new agency debt.

The acquisition of the 90-unit property known as The Chelsea was completed on September 23, 2026, by an exclusive MAA Consulting client completing a Section 1031 exchange. Because the exchange required the client to hold 100% ownership of the replacement property, MAA structured the engagement as a consulting assignment while performing traditional GP/sponsor duties, including underwriting, capital needs assessment, preparation of loan application materials, and selection and integration of third-party property management. Identified off-market, the Property sits in the sought-after Alamo Heights area of San Antonio, at the edge of a single-family neighborhood directly adjacent to $600,000 homes, on a site where multifamily would not be permitted today. Constructed in 1970 in a timeless Georgian all-brick style, the Property was acquired at a market going-in cap rate despite relatively low occupancy. And a sub-2.8% agency loan with a healthy time to maturity was assumed. Unlike many 1031 acquisitions, where the tax benefit alone makes the deal work, The Chelsea delivers on both the real estate and the tax benefit.

The acquisition of the 154-unit property known as Birchwood Pointe Apartments was completed on September 11, 2026, in partnership with Beverly Hills-based Loboda Properties. The Property lies in Midland, Michigan, within the Midland-Saginaw-Bay City CSA that anchors central Michigan’s Great Lakes Bay Region, a metro of roughly 375,000 people offering employer diversity, an attractive cost of living, and strong quality-of-life amenities. Constructed in 2003, the Property offers an unusually low-density feel that resembles a single-family neighborhood, along with a large indoor pool complex and a strong overall amenity package. The Property has averaged nearly 100% occupancy over the last five years, providing a strong in-place operating base, while largely unrenovated units with original finishes present an opportunity to add value. The transaction progressed from contract to close in 79 days and was financed with new agency debt.

The sale of 16-20 Westland Apartments, a 55-unit midrise apartment community purchased in March 2020 and located in the Fenway area of Boston, was completed June 21, 2023. The Purchaser assumed an existing Fannie Mae mortgage with a rate of 2.73%.

MAA operated and acted as Asset Manager for the Property from acquisition. The Boston office of Walker & Dunlop represented the selling entity. The sale was an off-market transaction

MAA generally does not reveal confidential pricing information as a courtesy to other transaction participants.

The disposition of an 828-unit portfolio comprised of three properties located in San Antonio, Texas – The Maxwell, Spice Creek, and The Clara (f/k/a The Joule) was completed on January 25th, 2023, by Frisco, Texas-based Multifamily Acquisition Advisors and Irvine, California-based Blackhawk Property Holdings. MAA operated and acted as Asset Manager for the portfolio from acquisition. New York-based Harbor Group International was the purchaser.

MAA views long-term fundamentals in the multifamily sector as extremely robust. This disposition manifests MAA and partners' current portfolio management strategy of locking in profits and/or reducing variable-rate debt exposure where applicable in the face of short-term market uncertainty.

The sale of Woodfield Commons Apartments, a 156-unit garden apartment community purchased in 2019 and located in the Boston suburb of Canton, Massachusetts was completed on August 22, 2022.

MAA operated and acted as Asset Manager for the Property from acquisition. The Boston office of Walker & Dunlop represented the selling entity. The sale was an off-market transaction.

MAA does not reveal confidential pricing information as a courtesy to other transaction participants. However, it can be disclosed that investors achieved an annual Internal Rate of Return on the transaction of 24.77%.

The acquisition of the 300-unit property currently known as The Joule was completed on December 14, 2021, marking the team’s fourth major acquisition over the last twelve months in San Antonio, totaling 1,132 units. The Property lies just off Interstate Highway 10, in the heart of San Antonio’s employment hub. Nearby major employers include USAA and the South Texas Medical Center. The University of Texas at San Antonio, with an enrollment of 33,000, is a six-minute drive from the Property. Although constructed in 1974, the Property offers a unique and stunning physical presence with eye-catching turquoise barrel tile roofs, architectural elements normally reserved for much more expensive properties and rare amenities for its vintage including attached garages. The Business Plan contemplates upgrading technology infrastructure, select interiors, building upon the existing favorable leasing path and common area amenities and addressing other minor asset preservation needs.

Acquisition completed in April 2020. This beautiful 55-unit property is ideally situated amongst Boston’s premier medical and academic communities, with swift access to the Rose Garden, Northeastern University, Boston University, Wentworth Institute of Technology and Berkeley College. Following a 2012 renovation by former ownership, $1.46 million in capital investments are planned, including interior and amenity upgrades.

“Our value-add strategy aligns with what we believe is an important phase of the investment cycle in Boston,” said Christopher Thomson, “Giving residents a middle-ground between beautiful, older and well-located buildings with dated interiors and newly built high-rises with much higher rents.”

Acquisition of the 192-unit property known as “Spice Creek” was completed on July 28, 2021 by MAA and California-based Blackhawk Property Holdings. Spice Creek lies in the heart of the Medical Center area in San Antonio and is 1/3 of a mile from the South entrance to the USAA headquarters campus. The Medical Center USAA alone represent an employment base of 73,000. Spice Creek currently ranks 86th of the 104 apartment communities in the Medical Center submarket in Effective Rent. The Business Plan calls for enhancing the resident experience by upgrading the interiors of un-renovated units, improving the “leasing path” and common area amenities, implementing revenue management technology and offering to residents an improved in-unit Internet/Entertainment package. At post-capital rents of just under $1,000 per month, this strategy aligns with our mission of providing residents of high-growth markets critically needed high-quality-of-life living spaces at affordable rents.

The acquisition of the 336-unit property known as “The Maxwell” was completed on June 11, 2021 by California-based Blackhawk Property Holdings and Frisco, Texas-based Multifamily Acquisition Advisors. San Antonio has recently become a U.S. population growth center, is seen by many as one of the more attractive multifamily markets and was ranked #12 of 80 cities in the Urban Land institute’s 2020 overall Markets to Watch” rankings. The Maxwell is in the desirable Westover Hills submarket. The Maxwell currently ranks 26th of the 36 apartment communities in the Westover Hills market in effective rent at $908 per unit and was 86.6% occupied at closing. Sub-market occupancy stands at 92.0% with average market rent of $1,094 per unit, up 31.3% since 2011. The business plan is to upgrade building systems to enhance efficiency, improve curb appeal, renovate approximately 1/3 of the units and initiate pro-active marketing and revenue management. This strategy aligns with our mission to provide critically needed high-quality-of-life living spaces at affordable rents.