IRVINE, CALIF. — Matthews Real Estate Investment Services has appointed Mark Bridge as executive vice president and senior director. Based in Matthews’s Orange County office in Irvine, Bridge will specialize in the acquisition and disposition of multifamily properties throughout Southern California. He will focus on communities with 20 to 100 units. Prior to joining Matthews, Bridge served as a managing director at Cushman & Wakefield. He previously spent 17 years at Marcus & Millichap.
BROOKLINE, MASS. — Pine Realty Associates has sold Harvard Avenue Apartments, a 24-unit property located at 48-50 Harvard Ave. in Brookline, roughly 6 miles west of downtown Boston. Built in 1950, Harvard Avenue Apartments features studio and one-bedroom units. Residents have access to off-street parking and an on-site laundry facility. Matthew Pierce of Marcus & Millichap’s Boston office marketed the property on behalf of the seller and procured the buyer, a private investor. Additionally, Robert Damigella of Marcus & Millichap Capital Corp. arranged $3.3 million in acquisition financing through a …
KERNERSVILLE, N.C. — Gindi Equities has sold Lindsey Manor Apartments in Kernersville, 10 miles east of Winston-Salem, North Carolina, to an undisclosed buyer for $34 million. Located at 472 Lindsey St. near downtown Kernersville, Lindsey Manor Apartments consists of 222 units in one- two- and three-bedroom configurations. Gindi Equities originally acquired the asset in October 2021 for $24.5 million. The company completed a series of renovations at the property, including updates to apartment interiors, complete reroofing, new dog park and grilling area and upgrades to the pool and playground. This transaction …
LOUISVILLE, KY. — Conshohocken, Pennsylvania-based Morgan Properties has purchased Blankenbaker Crossings, a 236-unit property in Louisville, for $39 million. Built between 2005 and 2006, the garden-style community was 96 percent occupied at the time of sale. The new ownership plans to invest $2.1 million to add new amenities to the community, including a pickleball court, dog parks and Amazon package hubs. Additionally, units will be updated with kitchen and bath renovations, new washers and dryers and smart technology features. Craig Collins and Mike Kemether of Cushman and Wakefield brokered the …
ST. ANTHONY, MINN. — A partnership between ARTISAN Capital Group and Eastham Capital has purchased Equinox Apartments, a 266-unit property in St. Anthony, about 5 miles north of Minneapolis. Fannie Mae provided an undisclosed amount of financing for the acquisition. Built in 1974 on 17.5 acres, Equinox Apartments features a mix of 151 one-bedroom and 115 two-bedroom apartments. Each unit includes a walk-in closet and patio or deck. Amenities include a clubhouse with entertainment space, indoor and outdoor pools, a fitness center, grilling area, dog park, playground and detached parking …
DENVER — GID has sold The District by Windsor in Denver to Chicago-based Mesirow Financial. Atlanta-based GID owns and operates approximately 55,000 units throughout the United States. The District by Windsor is a 276-unit property built in 2007. The sales price was not disclosed, but some media outlets are reporting the asset traded for $91 million. JLL represented GID and procured Mesirow Financial as the buyer. The District by Windsor, which consists of three buildings, features a resort-style pool, a fitness center and electric vehicle charging stations.
DALLAS — Blue Ocean, a value-add and opportunistic investment firm based in Maryland, has acquired Villa Ladera in Dallas from an undisclosed seller. CBRE represented both parties in the deal. The price of the trade not disclosed. Villa Ladera is a 184-unit property developed in 1972. Blue Ocean is planning to renovate several units. The seller has owned the property since 2017. Features include controlled access, a playground, two laundry facilities and approximately 400 parking spaces. Villa Ladera was 96 percent occupied at the time of sale. Chris Deuillet and …
EL PASO, TEXAS — JRK Property Holdings, a private investment company based in Los Angeles, has sold Retreat at Mesa Hills in El Paso. JLL Capital Markets, on behalf of JRK, arranged the sale. The 752-unit property was completed in multiple phases beginning in 1995. Managing Director Steven Hahn Jr., Senior Director Art Barnes, Senior Managing Director Roberto Casas and Vice President William Jennings led the JLL team. The community offers a mix of one-, two- and three-bedroom units ranging from 538 to 2,127 square feet. A fitness center and three …
GRAND PRAIRIE, TEXAS — Atlantic Multifamily has sold The Destino, 192-unit property in Grand Prairie to an undisclosed New York-based private investment company. The Destino was built in 2000 on 11 acres. Al Silva, senior managing director, and Ford Braly, senior vice president investments, of Marcus & Millichap’s Fort Worth office listed the asset on behalf of Atlantic Multifamily and secured the buyer. The 18-building, three-story, gated property features a pool, an outdoor kitchen, playground and dog park. The average unit size is 1,000 square feet.
MIAMI — Marcus & Millichap has brokered the sale of SK Apartments in North Miami. The asset, located at 14555 NE 145th St., was sold by an unnamed private investor for $16.5 million. Felipe Echarte, Evan Kristol and Nicholas McAndrew based out of Marcus & Millichap’s Fort Lauderdale office represented the seller. The property includes a mix of one- and two-bedroom units, averaging 645 square feet. According to Apartments.com, the building was constructed in 1963.
