Investment Sales

3100-3118-Patrick-Henry-Drive-Santa-Clara
CaliforniaDevelopmentInvestment SalesNewsWestern

Berkadia Arranges $12.5 Million Land Sale in Silicon Valley

by Lynn Peisner

SANTA CLARA, CALIF. — JEMCOR Development Partners and Scaled Projects acquired a 2.5-acre site in Santa Clara for $12.5 million on Dec. 18. Jason Parr and Scott MacDonald of Berkadia San Francisco arranged the sale. The site is adjacent to Levi’s Stadium, home of the San Francisco 49ers, and is zoned for high-density residential development within the city’s Patrick Henry Drive Specific Plan Area. The plan was adopted by the Santa Clara City Council in 2022 with the goal to redevelop a series of office parks, some developed in the …

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Alexan-Access-Lynnwood
Investment SalesNewsWashingtonWestern

Trammell Crow Sells Seattle Metro Alexan Access to Bell Partners for $145 Million

by Lynn Peisner

LYNNWOOD, WASH. — Bell Partners has acquired Alexan Access in Lynnwood for $145 million. JLL Capital Markets arranged the sale as well as an $83.2 million Fannie Mae acquisition loan. The seller was Trammell Crow Residential. Located at 2727 Alderwood Mall Blvd., about 16 miles north of Seattle, Alexan Access was built in 2023 and includes 383 units as studios, one-, two- and three-bedroom floor plans across four buildings. A resort-style pool and hot tub, a sky lounge with a rooftop deck, coworking spaces, a fitness center with a second-level …

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VLH-Lakeland
BerkadiaFloridaInvestment SalesNewsSoutheast

Providence Group Sells Property in Lakeland, Florida

by Lynn Peisner

LAKELAND, FLA. — National Property Management Associates, based out of Orchard Park, New York, has acquired Village at Lake Highland in Lakeland from Chicago-based Providence Real Estate. The sales price was not disclosed. Cole Whitaker, Jason Stanton and Mary Beale of Berkadia Central & North Florida arranged the sale on behalf of Providence. Located at 2150 Lake Highland Blvd., Village at Lake Highland was built in 2001 and consists of 16 two- and three-story buildings on a 37-acre site. The community offers one-, two- and three-bedroom units ranging from 729 …

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Build-to-RentInvestment SalesNewsNortheastPennsylvania

PPR, Bel Canto Buy Botanica Cottages in Metro Philadelphia

by Lynn Peisner

LIMERICK, PA. — Locally based PPR Capital Management, along with Bel Canto Asset Growth Fund, has acquired Botanica Cottages, a 199-unit property in Limerick, 35 miles northwest of Philadelphia. Developed in 1999, the townhome community offers one-, two- and three-bedroom floor plans. An attached garage is included in each direct-access unit. Amenities include a 24-hour fitness center and resort-style pool and hot tub. PPR and Bel Canto plan to implement a value-add strategy through interior unit renovations, which are expected to begin in the first quarter of 2026.

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Second-&-Second-Minneapolis
Investment SalesMidwestMinnesotaNews

Roundhouse Buys Second + Second in Minneapolis

by Lynn Peisner

MINNEAPOLIS — Boise, Idaho-based Roundhouse has acquired Second + Second, a 158-unit property in the North Loop neighborhood of Minneapolis, from Vail, Colorado-based Solaris Group. The Minneapolis/St. Paul Business Journal reports the sales price was approximately $47 million. CBRE’s Ted Abramson, Abe Appert and Keith Collins represented Solaris in the transaction. Second + Second is located at 120 N. Second St. It was developed in 2020 and features studio, one- and two-bedroom floor plans that average 863 square feet. Community and unit amenities include underground parking, a sky lounge, a …

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Latitude-at-the-Commons-Myrtle-Beach
BerkadiaInvestment SalesNewsSouth CarolinaSoutheast

Berkadia Arranges $57 Million Sale of Latitude at the Commons in Myrtle Beach

by Lynn Peisner

MYRTLE BEACH, S.C. — Berkadia has arranged the $57 million sale of Latitude at the Commons, a 288-unit, garden-style property in Myrtle Beach. The seller was Houston-based ApexOne Investment Partners. The buyer’s identity was not disclosed. Trammell Crow Residential developed the property in 2009. Located at 2222 Crow Lane, Latitude at the Commons includes one-, two- and three-bedroom units and amenities such as a 24-hour fitness and wellness center with cardio and weightlifting equipment, a clubhouse with a lounge, a billiard and entertainment room, dog park with a wash station, …

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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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