GOLDEN, COLO. — Monarch Investment & Management Group has sold Fox Hill Apartments in Golden for $32 million. Sierra Parkway Communities was the buyer, and JLL arranged the transaction on behalf of Monarch, which owned Fox Hill for about 30 years. Located at 17611 W. 16th Ave., the community was built in 1972 and has averaged 96 percent occupancy since 2021. Jordan Robbins, Wick Kirby, Alex Possick and Seth Gallman headed up the JLL team.
VANCOUVER, WASH. — JLL has arranged a $42 million Fannie Mae refinancing loan for Portola Bridge Creek, a 270-unit, garden-style community in Vancouver. The borrower was Irvine, California-based SB Real Estate Partners, which has owned the property since 2022. Built in 1989, Portola Bridge Creek offers one-, two- and three-bedroom floor plans along with a pool with poolside grills, playground, dog parks, an automated Amazon package locker and a 24-hour fitness center. Charles Halladay, Rick Salinas and Elijah Lax led JLL’s team.
OLATHE, KAN. — Chicago-based 29th Street Capital has acquired Chestnut Heights Townhomes in Olathe. The 161-unit townhome community will be managed by 29th Street Living, the company’s property management division. The buyer partnered with New York City-headquartered Basis Investment Group via the firm’s BIG Equity Value-Add Fund II for the acquisition of the property and a capital improvement program. Chestnut Heights is comprised of two- and three-bedroom floor plans.
MARINA DEL REY, CALIF. — An affiliate of San Francisco-based Jackson Square Properties has acquired Shores, a 544-unit community in Marina del Rey for $170 million. Law firm Cox, Castle & Nicholson advised the seller, an entity doing business as Shores LLC, on the sale. Shores is a marina-adjacent community of 12 interconnected, five-story buildings featuring one- and two-bedroom floor plans. In addition to views of the Pacific Ocean, the property features a 2.5-acre courtyard with a pool, dual hot tubs, fire pits, barbecue areas and a bocce court. Shores …
FORT WORTH, TEXAS — Concord Summit Capital has arranged a $50 million construction loan for a 268-unit project in Fort Worth. Summa Terra Ventures and M13 Construction were the borrowers. David Larson and Keegan Burger led Concord Summit’s team. The developers have broken ground on Vic Centre Apartments at 7124 Anderson Blvd. in East Fort Worth. The community will span nine three-story buildings, offering studios, one- and two-bedroom units. Completion is slated for 2028.
AUGUSTA, GA. — Berkadia has arranged the $40.6 million sale of MacArthur Park, a 290-unit garden-style community in Augusta. Christian DiCroce, Jim Sewell, Dave Lansbury, and Erika Maston of Berkadia Charleston led the transaction on behalf of the unnamed seller. The buyer’s identity also was not disclosed. The asset was built in 2022 and was 91 percent occupied at the time of the sale. Located at 101 Little Rock Drive, the property features a saltwater pool, fitness center and business center.
PLEASANTVILLE, N.Y. — IPA has arranged the sale of The Atwood, a 71-unit community in Pleasantville, about 32 miles north of Manhattan. Neither buyer, seller nor sales price was disclosed. Eric Pentore and Victor Nolletti led IPA’s team. Completed in 2023, The Atwood has a fitness center with a steam room and sauna, community lounge and a rooftop entertainment terrace with built-in grills, TVs and fire pits. Apartments feature in-unit washers and dryers, and select residences include walk-in closets with custom built-in shelving. The property’s average unit size is approximately …
REVERE, MASS. — JLL has arranged a $67.3 million refinancing loan through Bridge Investment Group Holdings for Eliot on Ocean, a 194-unit waterfront property along Revere Beach in Revere, Massachusetts. The borrower was New York City-based Invictus Real Estate Partners. Built in 2016, Eliot on Ocean is adjacent to the MBTA Wonderland Blue Line train station and features ocean views. Invictus plans to apply loan proceeds to renovations targeting common areas and unit interiors. Common area improvements will enhance the lobby, amenity spaces, fitness center and beachfront terrace. The unit …
SYRACUSE, N.Y. — BFC Partners and SAA Canopy Group have obtained $269 in financing for the redevelopment of the Parkside Commons housing complex in Syracuse. The developers will deliver 393 affordable apartments via renovated and newly constructed units. Rent restrictions were not disclosed The property currently consists of 10 buildings. With this construction financing, the development team will renovate six of those buildings and construct two new ones. Existing tenants who live in the four oldest structures, which eventually will be demolished, will relocate to the two new buildings. Financing …
RENO, NEV. — Newmark has arranged a $33.5 million Fannie Mae loan to refinance Ascent on Steamboat, a 204-unit community in Reno owned by Elan Multifamily Investments. Newmark’s Lowell Takahashi and Vince Punzi arranged the five-year, fixed rate loan. Located at 3300 Skyline Blvd. in Reno’s Old Southwest neighborhood, Ascent on Steamboat is comprised of one- and two-bedroom units and a pool, fitness center and clubhouse.
