4 West Columbia apartment complexes part of $67M acquisition.

Colliers Capital Markets has arranged the $66.9 million acquisition and repositioning financing for a six-property, 933-unit multifamily property across Columbia and Memphis, Tenn.

Colliers secured the loan from Ready Capital Corp. on behalf of Connecticut-based Lexington Partners LLC and LAZ Investments.

The portfolio includes Copperfield Apartments, Creekside Place, Retreat at Broad River and Riverbanks Retreat in West Columbia, as well as two Memphis mid-rise apartment developments, Azur Tower and SoMa Apartments, in the Memphis Medical District.

New owner Lexington Partners plans major renovations to common areas and exterior upgrades including new walkways and decks. Interior improvements will include new flooring and countertops as well as kitchen and bathroom appliance replacements.

"It was a pleasure to work with the Lexington Partners and LAZ Investment teams, who will capitalize on their vast knowledge and understanding of resident needs to reshape this portfolio to meet current lifestyle demands," John Broderick, Colliers Markets executive vice president, said in a news release. "The company's visionary approach has firmly established...