Investment Sales

1-North-Main-Street-Port-Chester
Investment SalesNew YorkNewsNortheast

KABR Group Buys Port Chester, New York, Property for $30.7 Million

by Lynn Peisner

PORT CHESTER, N.Y. — KABR Group has acquired 1 North Main Street in Port Chester for $30.7 million. The seller was an entity affiliated with G&S Investors and Robert Martin Co., which developed the 209-unit property between 2020 and 2022. The JLL Capital Markets team representing the seller was led by Jose Cruz, Jeffrey Julien, Steve Simonelli and Austin Pierce. The asset features five stories of market-rate apartments and 7,630 square feet of ground-floor retail. The new owners will be party to a PILOT (Payment In Lieu Of Taxes) agreement …

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Blitz-McCaffrey
DevelopmentFinanceIndustry VoicesInvestment Sales

Solving the Balance Sheet Paradox: The Rise of Platform Investing in Multifamily Assets

by Lynn Peisner

Real estate “platform investments” have long been considered to be the purview of sophisticated financial players in the real estate world. These investments are typically made by institutional investors, pension plans or other private equity players. In platform investing, institutional capital is typically backing an “operator” — a development or investment firm responsible for sourcing, developing or managing multifamily assets. Platform investments provide a minority-stake ownership of the entity that employs key people making strategic investment decisions as well as the entity’s intellectual property. They also allow the investor the …

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Bucking-Horse-Apartments-Fort-Collins
ColoradoInvestment SalesNewsWestern

The Milestone Group Buys Bucking Horse Apartments in Fort Collins

by Lynn Peisner

FORT COLLINS, COLO. — Equus Capital Partners has sold Bucking Horse Apartments in Fort Collins to The Milestone Group for an undisclosed amount. Newmark arranged the sale as well as acquisition financing. Bucking Horse Apartments offers one-, two- and three-bedroom units as well as 18 townhomes with attached garages. Apartments feature open-concept layouts, private balconies or patios with exterior storage closets and kitchens equipped with stainless steel appliances and islands. Amenities are anchored by The Ranch House clubhouse, which includes a private movie theater, resident lounge space, a resort-style pool …

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Hyde-Park-Tower-Chicago
IllinoisInvestment SalesMidwestNews

LaTerra, Respark Acquire $455 Million Chicagoland Portfolio from Aimco

by Lynn Peisner

CHICAGO — LaTerra Capital Management, an affiliate of LaTerra Development, in partnership with Respark Residential, is under contract with Aimco (NYSE: AIV) to acquire a 1,495-unit, seven-property portfolio located across suburban Chicago submarkets including the cities of Evanston, Lombard and Elmhurst. The portfolio is being acquired at a purchase price of $455 million, with a closing targeted for the first quarter of 2026, pending the assumption of in-place mortgage loans. The joint-venture buyer has completed due diligence and partially funded a non-refundable deposit that will, under the terms of the …

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Lisbon-Court-Milwaukee
Investment SalesMidwestNewsWisconsin

Metropolitan Associates Sells Milwaukee Portfolio for $29.7 Million

by Lynn Peisner

MILWAUKEE — CBRE has arranged a portfolio comprised of four Milwaukee properties for $29.7 million. Locally based Metropolitan Associates sold the portfolio to Brookfield, Wisconsin-based Coachlight Communities. The assets are Parkview Apartments (232 units), Lisbon Court (71 units), Hampton Gardens (30 units), and Grantosa Apartments (25 units). Metropolitan developed the properties in the 1960s and has owned them since then. CBRE’s Matson Holbrook, Gretchen Richards, Sean Beuche and Patrick Gallagher represented the seller in the transaction.

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Morgan-Bay-Houston
Investment SalesNewsTexas

Eastham Capital Sells Two Suburban Houston Assets

by Lynn Peisner

HOUSTON — Eastham Capital has sold two value-add properties about 14 miles apart from each other in the northern ring of the Houston suburbs. The Boca Raton, Florida-based private equity firm purchased Kensington Crossing in 2018 and Morgan Bay in 2019 as part of the Eastham Capital Fund V portfolio alongside joint venture partner Mosaic Residential. Kensington Crossing Apartments includes a mix of one-, two- and three-bedroom units ranging from 759 to 1317 square feet. Morgan Bay Apartments includes a mix of one and two-bedroom units ranging from 561 to …

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Novel-Nona-Orlando
FloridaInvestment SalesNewsSoutheast

Crescent Communities Sells NOVEL Nona in Orlando

by Lynn Peisner

ORLANDO, FLA. — Crescent Communities has sold NOVEL Nona to an undisclosed private real estate management company. The Charlotte, North Carolina-based developer broke ground on the 260-unit, wellness-focused community in 2021. NOVEL Nona, located in Orlando’s Lake Nona area, features a fitness center with a dedicated studio for yoga and spin classes, coworking spaces, a saltwater pool with cabanas, bike storage, walking trails, a conservation area, a top-floor lounge with TVs and a craft cocktail bar, two courtyards, firepits and grills. Units feature circadian lighting (tunable lighting that mimics the …

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HaverstockHills-Houston
Affordable HousingDevelopmentInvestment SalesNewsTexas

Fairstead Acquires Houston Affordable Housing Property, Plans Redevelopment for $242 Million Total Investment

by Lynn Peisner

HOUSTON — Fairstead has acquired Haverstock Hills Apartments in Houston’s East Aldine neighborhood. The New York City-based affordable housing developer will renovate the 700-unit property over the next 24 months. The redevelopment and acquisition costs came to $242 million. PNC Multifamily Capital was the debt and equity provider. Harris County Housing Finance Corp. and Rainbow Housing Corp. will continue to provide on-site social services. Located at 5619 Aldine Bender Road, Haverstock Hills comprises 44 two- and three-story buildings spanning 22 acres. Residences include a mix of studios, one-, two- and …

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Perry-Row-Dallas-Texas
FinanceInvestment SalesNewsTexas

Mesa West Capital Originates $42 Million Loan for JV Acquisition in Dallas

by Lynn Peisner

DALLAS — A joint venture consisting of Knightvest Capital and TPG Angelo Gordon has secured a $42 million acquisition loan originated by Mesa West Capital. The loan was used to buy and to finance an upcoming renovation of Perry Row, a 149-unit community at 6044 E. Lovers Lane in northeast Dallas, approximately six miles north of downtown. Built in 2009, the property offers a mix of one-, two- and three-bedroom townhome-style units. Amenities include a 24-hour fitness center, a resort-style pool, an outdoor kitchen and a business center. The new …

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Luxe-at-1820-Tampa
FloridaInvestment SalesNewsSoutheast

StoneBridge Investments Buys Luxe at 1820 in Tampa

by Lynn Peisner

TAMPA, FLA. — StoneBridge Investments has acquired Luxe at 1820 in Tampa from American Landmark for an undisclosed amount. Brian Moulder and Chris Chadbourne of Walker & Dunlop represented the seller. Acquisition financing was arranged by Connor Locke, Brenden Coleman and Skye Stansbury of Walker & Dunlop. The 300-unit garden-style property is located at 1820 Crosstown Club Place in the Tampa suburb of Brandon, about 8 miles east of downtown. The asset was constructed in 2009, and Washington, D.C.-based StoneBridge is planning to implement capital improvements during its hold. “Tampa …

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