Investment Sales

6254-N.-Whipple-St
IllinoisInvestment SalesMidwestNews

Interra Brokers $3.15 Million Sale in Chicago’s West Ridge Neighborhood

by Lynn Peisner

CHICAGO — Interra Realty has brokered the $3.15 million sale of 6254 N. Whipple St. in Chicago. The 16-unit apartment building, which was fully occupied at the time of the sale, was developed in 1931 and renovated in 2023. The $3.15 million sales price equated to $196,875 per unit. Interra Senior Managing Partner Brad Feldman represented the buyer and seller, both of whom are Chicago-based private investors. The seller acquired the asset in 2023 for $1.8 million, and, at that time, the property had not traded in more than 50 years. …

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Alvera-at-the-Meadows
Investment SalesNewsUtahWestern

Gelt Venture Partners Acquires 142-Unit Property in American Fork, Utah

by Lynn Peisner

AMERICAN FORK, UTAH — Gelt Venture Partners (GVP) has acquired Alvera at the Meadows in American Fork, about midway between Provo and Salt Lake City. The seller and sales price were not disclosed. The 142-unit property was developed in 2021 on about 4 acres. It features a mix of one-, two- and three-bedroom floor plans and such amenities as a pool and hot tub, a fitness center, clubhouse, package lockers and a playground. GVP is planning property upgrades during its hold. Brock Zylstra and Daniel Shin of Institutional Property Advisors represented …

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Circ-Tucson
ArizonaInvestment SalesNewsWestern

IPA Brokers Tucson Sale

by Lynn Peisner

TUCSON, ARIZ — Institutional Property Advisors (IPA) has arranged the sale of CIRC Tucson, a 368-unit property in the Casas Adobes neighborhood of Tucson. IPA’s Clint Wadlund, Hamid Panahi, Steve Gebing and Cliff David represented the seller and procured the buyer. Neither party was named. Completed in 1986 on 17 acres, CIRC Tucson is a gated, two-story, garden-style property with two pool areas, a fitness center, package lockers and electric vehicle charging stations.

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The-Haywood-Greenville
Affordable HousingInvestment SalesNewsSouth CarolinaSoutheast

Comunidad Partners Buys The Haywood in Greenville

by Lynn Peisner

GREENVILLE, S.C. — Comunidad Partners, an Austin, Texas-based workforce housing investment firm, has acquired The Haywood, a 234-unit property located at 100 Gloucester Ferry Road in Greenville. The seller and sales price were not disclosed. Comunidad is planning renovations that will update interiors, improve curb appeal and upgrade amenities.

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2609-Elliot-Avenue
Investment SalesNewsSoutheastVirginia

8th Floor Holdings Buys Virginia Townhome Portfolio for $3.3 Million

by Lynn Peisner

PORTSMOUTH, VA. — Cushman & Wakefield | Thalhimer’s Capital Markets Group has arranged the sale of a two-property portfolio in Portsmouth. The properties are 311-315 North Street, with 11 townhouses, and Beacon Townhomes, with 18 units located at 2609 Elliott Ave. 8th Floor Holdings LLC acquired the assets from Beacon Townhomes LLC for $3.3 million as part of a 1031 exchange. Clark Simpson and Erik Conradi of Thalhimer’s Capital Markets Group in Virginia Beach represented the seller.

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700-Locust-Pasadena
CaliforniaInvestment SalesNewsWestern

Pasadena Property Trades for $22 Million

by Lynn Peisner

PASADENA, CALIF — CBRE has brokered the $22 million sale of ALUR Apartments, a 51-unit community located at 700 Locust St. in Pasadena. The property was acquired by ADC Real Estate Group LP, an affiliate of Amoroso Cos. CBRE’s Kamran Paydar and Kadie Presley Wilson represented the seller, a private Los Angeles-based investor. Ryan Greer, Trevor Breaux and Troy Tegeler with CBRE’s debt and structured finance division arranged acquisition financing on behalf of the buyer. Built in 1987 and renovated in 2021, ALUR consists of a mix of one- and …

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Cypress-Point
CaliforniaInvestment SalesNewsWestern

IPA Brokers $100 Million Sale of Ventura County Asset

by Lynn Peisner

VENTURA, CALIF. — Raintree Properties has acquired Cypress Point, a 268-unit property in Ventura, for $100 million. County Center LP was the seller, and Institutional Property Advisors (IPA) arranged the sale. The transaction equates to $373,134 per unit. The property has been owned by the seller, who was the original developer, since 1990. Cypress Point is situated on 14 acres and includes 28 two-story buildings, a barbecue and picnic area, a fitness center, a clubhouse and covered parking. First-floor units feature nine-foot ceilings, and second-floor units have 12-foot vaulted ceilings. …

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Investment SalesNewsNorth CarolinaSoutheast

Northmarq Arranges $82 Million Deal in Charlotte

by Lynn Peisner

CHARLOTTE, N.C. — Trammell Crow Residential (TCR) has sold Alexan Mill District in Charlotte for $82 million. The Seminole Tribe of Florida Sovereign Wealth Fund’s Real Estate Fund (SemREF) was the buyer, marking SemREF’s third deal with TCR. Northmarq’s Charlotte Multifamily Investment Sales team, representing TCR, was led by Allan Lynch, Caylor Mark, Andrea Howard, John Currin, Jeff Glenn and Austin Jackson. Alexan Mill District was developed last year and includes 290 units and such amenities as a clubhouse, indoor-outdoor social space with a catering kitchen, a rooftop lounge, a …

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Westmount-Houston
Investment SalesNewsTexas

Westmount Realty Capital Sells San Antonio Community

by Lynn Peisner

SAN ANTONIO — Westmount Realty Capital has sold Westmount at Houston Street, a 200-unit, townhome community located at 4611 E. Houston St. in San Antonio’s East submarket. Westmount acquired the asset in 2019. It was developed in 2003 on 18 acres and features 37 buildings offering a mix of two-, three- and four-bedroom units with garages. The property also includes a resort-style pool, a playground, a dog park, and a clubhouse with a business and fitness center. At the time of sale, Westmount at Houston Street was 91.5 percent occupied. …

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North-Bluff
Investment SalesNewsSouth CarolinaSoutheast

JV Acquires Charleston Value-Add Portfolio

by Lynn Peisner

CHARLESTON, S.C. — Ginkgo Residential and J.P. Morgan Real Estate Income Trust (JPMREIT) have acquired a five-property portfolio totaling 647 units across the Charleston metro area. The communities include: Brackenbrook Apartments (168 units), North Bluff Apartments (144 units), The Landing (119 units), Sawbranch Apartments (112 units) and Woodlocke Apartments (104 units). Originally developed between 1975 and 1985, the portfolio has been owned and managed by the same group for many decades, according to Ginkgo, which is a Charlotte, North Carolina-based investment firm that pursues value-add acquisitions across the Southeast. The …

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