$1.7 Billion Deal Ranked Largest Multifamily Real Estate Transaction of First-Half of 2008Ranking
The August 6, 2008 issue of Real Estate Alert ranked DRA Advisors' $1.7 billion purchase of United Dominion Realty, Inc. (UDR) properties as the largest multi-family transaction of the first half of 2008.
Blank Rome assisted DRA Advisors LLC in its joint venture purchase of 86 apartment communities from UDR. The deal, which closed on March 3, 2008, consists of 26,069 apartment units located throughout Arkansas, Delaware, Florida, North Carolina, Ohio, Oregon, South Carolina, Tennessee, Texas, Virginia, and Washington. Fannie Mae provided the financing for the portfolio.
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