Investment Sales

Putnam-Green
ConnecticutInvestment SalesNewsNortheast

CBRE Arranges $20.7 Million Sale on Connecticut-New York Border

by Lynn Peisner

GREENWICH, CONN. — PIC Associates has sold Putnam Green in Greenwich to Beford Realty Executives for $20.7 million. CBRE’s Jeffrey Dunne, Eric Apfel and Travis Langer represented the seller and procured the buyer. Part of the sale included the buy-out of a ground lease. A neighboring property had owned Putnam Green land through a lease agreement set to expire in September. Putnam Green was built in 1976. The unit mix contains 28 studios and 38 one-bedroom apartments, 34 of which are two-story, duplex-style units. The property has 62 surface parking …

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TerraLane-at-Hudson
ArizonaBuild-to-RentDevelopmentInvestment SalesNewsWestern

TerraLane Buys Land, Breaks Ground on Phoenix Project

by Lynn Peisner

QUEEN CREEK, ARIZ. — TerraLane Communities, the build-to-rent (BTR) division of residential investment firm IHP Capital Partners, has acquired 22 acres in Queen Creek, about 44 miles southeast of Phoenix, for the development of TerraLane at Hudson Station. TerraLane is partnering with general contractor, Hancock Builders, in the construction of TerraLane at Hudson Station. This will be the sixth residential development the two firms are completing together. Mark-Taylor Residential will oversee leasing and property management. Financing for the project is being provided by 400 Capital Management and Western Alliance Bank. …

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The-International-at-Valley-Ranch
Investment SalesNewsTexas

Criterion Development Partners Sells The International at Valley Ranch

by Lynn Peisner

IRVING, TEXAS — Institutional Property Advisors (IPA) has arranged the sale of The International at Valley Ranch, a 236-unit property located within the Valley Ranch master-planned development in Irving. IPA Executive Managing Director Drew Kile along with IPA’s Michael Ware, Joey Tumminello, Taylor Hill, Shelby Clark and Jack Windham represented the seller, Criterion Development Partners, and procured the buyer, Consolidated Investment Group. Criterion developed The International at Valley Ranch in 2024. The four-story community includes climate-controlled corridors, indoor and outdoor social flex spaces and a courtyard pool with tanning shelf …

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2900-Terrace
DevelopmentFinanceFloridaInvestment SalesNewsSoutheast

Oak Row Equities Breaks Ground on $210.5 Million Miami Tower

by Lynn Peisner

MIAMI — Oak Row Equities has secured $210.5 million in construction financing for 2900 Terrace, a 324-unit high-rise in the Edgewater neighborhood of Miami. The financing package includes a $142.5 million senior loan from Bank OZK and a $68 million mezzanine loan from Canyon Partners Real Estate LLC. JLL arranged both loans for Oak Row Equities. Construction has begun with completion slated for the fourth quarter of 2027. Units at 2900 Terrace, designed by architecture firm Arquitectonica, will be offered in one-, two- and three-bedroom floor plans. The tower’s amenity …

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Sunlake-North
Build-to-RentDevelopmentFloridaInvestment SalesNewsSoutheast

Maymount Homes, Dinerstein to Develop BTR Project Near Tampa

by Lynn Peisner

LAND O’LAKES, FLA. — Berkadia has arranged the sale of a 28.5-acre parcel. Brookfield Residential Land was the seller, and Maymount Homes was the buyer. The site, located in the master-planned community of Bexley 30 miles north of Tampa, is entitled for low-density multifamily. Maymount will partner with Dinerstein Cos. to develop a 250-unit build-to-rent (BTR) community on the site. The project will be complete by the fourth quarter of 2026. The unnamed project will include a mix of two- and three-bedroom residences featuring private yards, attached garages and access …

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TruAmerica-Dominion-Park
Investment SalesNewsTexas

TruAmerica Acquires Dominion Park in San Antonio

by Lynn Peisner

SAN ANTONIO — TruAmerica has acquired Dominion Park Apartments in San Antonio. The 280-unit, garden-style community was developed in 2002 and marks TruAmerica’s second acquisition in the San Antonio market. The seller and sales price were not disclosed. Northmarq arranged the sale and financing. Approximately 96 units have undergone prior renovations. TruAmerica plans to renovate the remaining units and standardize all interiors.

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Camden-Midtown
Investment SalesNewsTexas

Camden Property Trust Sells Midtown Houston Asset

by Lynn Peisner

HOUSTON — Camden Property Trust, a publicly traded REIT, sold Camden Midtown to Bow River Capital for an undisclosed amount. JLL Capital Markets arranged the sale and financing of the 337-unit, three-story community in Houston. Camden Midtown was built in 1999 and features pools, 24-hour fitness centers, a pet park and a direct-access parking garage. Units include granite countertops, stainless steel appliances and wood-style flooring. Some feature private patios with attached garages in select townhome units. JLL Capital Market’s investment sales and advisory team was led by Dustin Selzer, Jett …

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Sugarmont-Apts
Investment SalesNewsUtahWestern

Centerspace Completes first Utah Acquisition with $149 Million Salt Lake Asset

by Lynn Peisner

SALT LAKE CITY — Publicly traded REIT Centerspace has acquired Sugarmont Apartments in Salt Lake City for $149 million. This marks Centerspace’s first owned asset in Utah. Northmarq’s Salt Lake City multifamily investment sales team, led by Mark Jensen, Rawley Nielsen and Darren Nielsen, arranged the sale and represented Centerspace. The seller was Cottonwood Communities, a publicly registered, non-listed REIT headquartered in Salt Lake City. Cottonwood was retained by Centerspace to manage the property. Built in 2021, Sugarmont Apartments features 341 units in a mix of studios, one-, two- and …

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CBRE_Yorktown
CaliforniaInvestment SalesNewsWestern

CBRE Arranges Huntington Beach Sale

by Lynn Peisner

HUNTINGTON BEACH, CALIF. — CBRE has arranged the $7.4 million sale of the 18-unit Yorktown Apartments in Huntington Beach. CBRE’s Dan Blackwell and Mike O’Neill represented the Newport Beach-based private seller, who was in a 1031 exchange, and the all-cash private buyer, also from Newport Beach. According to CBRE, Yorktown hasn’t traded hands for 30 years. The property comprises one studio and 17 two-bedroom units across two buildings constructed in 1973 and 1974. The 0.7-acre site includes a community courtyard, picnic area and private patios or balconies in select units, …

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The-Danforth-Seattle
Investment SalesNewsWashingtonWestern

Kennedy Wilson JV Acquires Seattle High-Rise for $173 Million

by Lynn Peisner

SEATTLE — Kennedy Wilson has partnered with Japan-based companies Kenedix and Hulic Co. to acquire The Danforth in Seattle for $173 million. A Whole Foods is the sole ground-floor retail tenant in the 265-unit community. Vanbarton Group, which has owned the asset since 2019, was the seller. Beverly Hills, California-based Kennedy Wilson has a 10 percent interest in the deal and invested $6.6 million of equity in the venture. Kennedy Wilson also will serve as asset manager for the partnership, receiving an undisclosed fee for that service. The Danforth is …

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