Investment Sales

The Place at Castle Hills in San Antonio

SAN ANTONIO — Philadelphia-based Harvest Equities has purchased The Place at Castle Hills, a 680-unit community in San Antonio. MC Cos. sold the asset for an undisclosed price. Built on 23 acres in 1984, The Place at Castle Hills offers one- and two-bedroom units with an average size of 687 square feet. Amenities include three pools, a business center and a resident clubhouse. Drew Garza, Will Balthrope and Ben Kalter of Institutional Property Advisors, a division of Marcus & Millichap, negotiated the deal.

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The Hamilton in Miami

MIAMI — Kushner Cos. has acquired The Hamilton, a 276-unit community in the Edgewater neighborhood of Miami. Apartment Investment and Management Co. (Aimco) sold the asset for $190 million. Located at 555 N.E. 34th St., the property is situated less than three miles north of downtown Miami and five miles from the city’s Brickell financial district.  Originally built in 1984, The Hamilton offers one-, two-, three-, four- and five-bedroom units. The average apartment size is 1,373 square feet. Each unit includes a terrace, which average 326 square feet, with some larger …

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NEW YORK CITY — Genesis Cos. and Lemor Development have secured $71 million in acquisition financing for Frederick Samuel Apartments, a 664-unit affordable housing asset in New York City’s Harlem neighborhood. The property consists of 40 residential buildings. Income restrictions for the apartments were not disclosed. The new ownership will renovate the community with a combination of passive park spaces, programmed urban farms, a new playground and community gardens provided by Harlem Grown. Heather Olson and Matthew Baptiste of Berkadia facilitated the 30-year permanent financing through Freddie Mac’s Bond Credit …

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Monterra Village in Fort Worth, Texas

FORT WORTH, TEXAS — Weidner Apartment Homes has acquired Monterra Village, a 550-unit community in Fort Worth, from Hillwood Multifamily for an undisclosed price. Built in two phases on 35 acres in 2008 and 2013, the garden-style property features a lagoon, lap pools with water features and pocket parks. The average apartment size is 985 square feet. Monterra Village is located within the 900-acre Alliance Town Center development, which features 1 million square feet of retail, restaurant and office space. Alliance Town Center is surrounded by the 27,000-acre AllianceTexas master-planned …

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Copper Ridge Apartments in Renton, Washington

RENTON, WASH. — SCS Development Co. has sold Copper Ridge Apartments, a 325-unit community in Renton, roughly 11 miles south of Bellevue, Washington. Timberlane Partners purchased the asset for $70.7 million. Built in 1983 and 1985, Copper Ridge offers one-, two- and three-bedroom apartment units housed in two- and three-story residential buildings. The average unit size is 788 square feet. All residences have private decks or balconies, and select units also feature wood-burning fireplaces. Amenities include a pool, three laundry facilities and a children’s playground. Giovanni Napoli, Philip Assouad, Ryan Harmon, …

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Summerwood Apartments in Santa Clara, California

SANTA CLARA, CALIF. — Interstate Equities Corp. has purchased Summerwood Apartments, a 468-unit property located at 444 Saratoga Ave. in Santa Clara, roughly 5 miles west of San Jose, California. German investment firm DWS sold the asset for $203 million. The garden-style community offers a mix of one- and two-bedroom apartments. Amenities include a pool, clubhouse, fitness center, volleyball court, sauna, courtyard and dog park. Philip Saglimbeni, Stanford Jones, Salvatore Saglimbeni and Alexander Tartaglia of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured …

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Hampton Meridian in Apache Junction, Arizona

APACHE JUNCTION, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Hampton Meridian, a build-to-rent community in Apache Junction, 35 miles east of Phoenix. The asset traded hands for $56.5 million. Steve Gebing and Cliff David of IPA represented the seller and procured the buyer in the deal. Neither party’s identity was disclosed. Built in 2023, Hampton Meridian consists of 195 residences across 16 acres. The average unit size is 1,009 square feet. Residents have access to amenities such as a pool, …

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Village on the Green in River Vale, N.J.

WESTWOOD AND RIVER VALE, N.J. — Kushner has purchased a portfolio of four properties totaling 276 units in Bergen County, located in the northeastern corner of New Jersey. Jose Cruz, Mike Oliver, Steve Simonelli, Elizabeth DeVesty and Austin Pierce of JLL Capital Markets represented the seller and procured the private buyer.  The portfolio includes Coventry Square, Stanford Court and The Madison Apartments, which are all located in Westwood, about 32 miles north of New York City. The fourth community, Village on the Green, is situated in the adjacent town of …

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Xander on State in Columbus, Ohio

COLUMBUS, OHIO ­— RM Communities and Crawford Hoying have secured a $30.5 million acquisition loan for Xander on State, a 229-unit community located at 265 East State St. in downtown Columbus’s Discovery District. Brian Gaswirth, Jesse Wright, Joshua Odessky and Shane Ciacci of JLL Capital Markets arranged the loan through ACRE. Built in 2020, Xander on State offers a mix of studios, one- and two-bedroom units. Residents have access to amenities including a pool, entertainment area, fitness center and theater room. The property also features 2,681 square feet of ground …

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AVA Ballard in Seattle

SEATTLE — AvalonBay Communities has completed the sale of AVA Ballard, a 265-unit asset located at 5555 14th Ave. NW in the Ballard neighborhood of Seattle, to an undisclosed buyer for $105.5 million. Eli Hanacek, Mark Washington and Kyle Yamamoto of CBRE represented the seller in the transaction. Built in 2013, AVA Ballard offers studio, one- and two-bedroom apartments averaging 717 square feet. Units feature quartz countertops, stainless steel appliances, plank hardwood-style flooring and washers and dryers.  Amenities include a rooftop lounge, barbecues and a dog run; clubroom with media …

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