Investment Sales

Mosa-Elk-Grove
Affordable HousingCaliforniaInvestment SalesNewsWestern

HVPG Buys Metro Sacramento Affordable Housing Property for $83.6M

by Lynn Peisner

ELK GROVE, CALIF. — Hudson Valley Property Group (HVPG) has acquired Mosa Apartment Homes, a 387-unit affordable housing community in Elk Grove, 14 miles south of Sacramento, for $83.6 million. Completed in 2025, Mosa is a 14-building, garden-style community offering a mix of unit types serving a broad range of household income levels. The property is structured across three Low-Income Housing Tax Credit (LIHTC) partnerships, each subject to its own regulatory agreement, that cover 100 percent of units, with HVPG acquiring the general partner interests in all three. Approximately 8 …

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Reserve-at-Spring-Creek-Richardson
Investment SalesNewsTexas

MG Properties Buys Reserve at Spring Creek in Richardson, Texas

by Lynn Peisner

RICHARDSON, TEXAS — Institutional Property Advisors (IPA) has arranged the sale of Reserve at Spring Creek, a 458-unit community in Richardson, 17 miles northeast of Dallas. IPA’s Joey Tumminello, Drew Kile, Michael Ware, Taylor Hill and Jack Windham represented the seller, an affiliate of Lone Star Funds, and procured the buyer, MG Properties. Brian Eisendrath, Cameron Chalfant and Harry Krieger of IPA Capital Markets arranged an undisclosed amount of financing. Developed in 2019 on 17 acres, Reserve at Spring Creek has a fitness center, clubhouse, resort-style pool and a business …

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East-Peoria-Redevelopment
DevelopmentFinanceIllinoisInvestment SalesMidwestNews

Eastern Union Arranges $15.9M Loan for Adaptive Reuse Project in East Peoria, Illinois

by Lynn Peisner

EAST PEORIA, ILL. — Eastern Union has arranged a $15.9 million acquisition and construction loan for the conversion of a former assisted living facility into a 246-unit multifamily property located at 500 Centennial Drive in East Peoria. The financing was arranged by Joe Siegfried of Eastern Union. The borrower was The H&A Group of South Bend, Indiana, a real estate investment and development company focused on value-add and adaptive reuse projects across multiple asset classes. The loan was provided by Genesis Capital, which is based in Sherman Oaks, California. Originally …

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1000-Ocean-Parkway-Brooklyn
Investment SalesNew YorkNewsNortheast

Marcus & Millichap Broker $23.5M Sale of Brooklyn Property

by Lynn Peisner

NEW YORK CITY — Marcus & Millichap has arranged the sale of 1000 Ocean Parkway, a 122-unit apartment building in the Midwood neighborhood of Brooklyn. The property sold for $23.5 million, or $192,623 per unit. Marcus & Millichap’s Matt Fotis represented the seller, the Cohen family, and procured the buyer, David Brecher, chief executive of Brooklyn-based FM Home Loans. The property is located on the corner of Ocean Parkway and Avenue J. Built in 1964 and renovated in 2021, 1000 Ocean Parkway has two elevators, a doorman, laundry facilities and …

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The-Arbor-NYC
Investment SalesNew YorkNewsNortheast

PGIM Buys The Arbor in The Bronx for $73.5M

by Lynn Peisner

NEW YORK CITY — PGIM, the investment management business of Prudential Financial (NYSE: PRU), has acquired The Arbor, a 127-unit community in the Riverdale neighborhood of the Bronx for approximately $73.5 million. The transaction marks the 10th acquisition with the PGIM Real Estate Fund. PGIM partnered with Fetner Properties in the deal through a sale and leaseback with the seller, Columbia University. To date, PGIM has deployed $260 million through the fund, representing approximately $632 million in gross property value.

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FinanceInvestment SalesNewsTexas

Sade Real Estate Secures $128.5M to Acquire The Arno in Houston

by Lynn Peisner

HOUSTON — Locally based Sade Real Estate has obtained $128.5 million in acquisition financing for The Arno, a 40-story, 168-unit luxury community at 2929 Weslayan St. in Houston’s River Oaks neighborhood. Hudson Bay Capital provided the financing, which was arranged by Walker & Dunlop’s Sean Reimer, Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly and Sean Bastian.

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Aspire-Cherry-Creek-Denver
Investment SalesNewsTexas

Dinerstein Cos. Buys Three Communities in Colorado and Texas, Plans $18.7M in Improvements

by Lynn Peisner

HOUSTON — The Dinerstein Cos. (TDC) has completed three acquisitions consisting of two multifamily properties and one student housing property. The Houston-based firm has acquired the 218-unit Aspire Cherry Creek in Denver, the 325-unit Aspire Park Lane in Dallas and Sterling College Station, a 1,128-bed student housing community in College Station, Texas. TDC is planning $18.7 million in capital improvements across the three assets. TDC has developed properties in Denver, but Aspire Cherry Creek marks the firm’s first acquisition in the market. The asset was built in 2015 and includes …

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Aberdeen-Arms-Elizabeth
BerkadiaInvestment SalesNew JerseyNewsNortheast

Berkadia Arranges $8.8M Sale of Aberdeen Arms in Elizabeth, New Jersey

by Lynn Peisner

ELIZABETH, N.J. — Berkadia has arranged the sale of Aberdeen Arms Apartments, a 52-unit garden-style community in Elizabeth. The asset sold for approximately $8.8 million, trading between two unnamed, New Jersey-based entities. The seller owned the property for about 20 years. Nat Gambuzza, Trevor Fiebel and Nick Balancia of Berkadia Morristown led the transaction on behalf of the seller. Aberdeen Arms is located at 730-734 North Broad St. and was built in 1965. The property features 10 one-bedroom and 42 two-bedroom units as well as surface parking and a common-area …

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Park-West-Dallas
Investment SalesNewsTexas

IPA Arranges Sale of Park West in Dallas

by Lynn Peisner

DALLAS — Institutional Property Advisors (IPA) has arranged the sale of Park West, a 240-unit property in Dallas. IPA’s Michael Ware, Taylor Hill, Drew Kile, Joey Tumminello and Cameron Purse represented the undisclosed seller and procured the buyer, Berkshire Residential Investments. The property is in the Oak Lawn neighborhood at the intersection of Cedar Springs Road and Douglas Avenue, within a corridor between the Dallas North Tollway and Highway 75. Completed in 2014, Park West is a four-story property with a resort-style pool, a 4,000-square-foot fitness center, two dog parks …

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Forrest-Brook-Fort-Smith
ArkansasInvestment SalesNewsSoutheast

Colliers Arranges $8M Two-Property Sale in Arkansas

by Lynn Peisner

FORT SMITH, ARK. — Colliers has arranged the $8 million sale of two properties in Fort Smith. The assets traded between two undisclosed entities. The portfolio includes Forrest Brook Apartments, located at 3014 Presley St., and Stone Creek Apartments at 2851 Xavier St. Stone Creek was developed in 2008. Forrest Brook was built in 1985. Existing property management is expected to remain in place through and after the ownership transition.

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