Investment Sales

Fletcher-Southlands-Aurora
ColoradoFinanceInvestment SalesNewsWestern

Kennedy Wilson Buys The Fletcher Southlands in Aurora, Colorado, for $94.8 Million, Secures $61.8 Million Acquisition Loan

by Lynn Peisner

AURORA, COLO. — Kennedy Wilson (NYSE: KW) has acquired The Fletcher Southlands in Aurora’s Southlands submarket for approximately $94.8 million from CBRE Global Investors. JLL Capital Markets has arranged a $61.8 million Freddie Mac acquisition loan for Kennedy Wilson. The Fletcher Southlands, located at 22959 E. Smoky Hill Road, was built in 2001 on a 23-acre site and features one- to four-bedroom units and amenities that include a pool and hot tub, fitness and business centers, a gaming area, covered parking, a dog park, package lockers, grills, valet trash services, …

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Vertical-East-Tucson
ArizonaInvestment SalesNewsWestern

Investors Capital Group Acquires Vertical East in Tucson for $22 Million

by Lynn Peisner

TUCSON, ARIZ. — Vertical Street Ventures has sold Vertical East Apartments in Tucson to Seattle-based Investors Capital Group for $22 million. IPA’s Clint Wadlund, Hamid Panahi, Steve Gebing and Cliff David represented the seller. The property was developed in 2001 and is comprised of two- and three-bedroom floor plans. Community-wide amenities include a pool and hot tub, a picnic area and a dog park.

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1601-Sansom-Philadelphia
Investment SalesNewsNortheastPennsylvania

Capano Residential Buys Historic Philadelphia Apartment Building for $24 Million

by Lynn Peisner

PHILADELPHIA — Capano Residential, a developer/owner based out of Wilmington, Delaware, has acquired Rittenhouse Row Apartments in Philadelphia’s Center City for $23.7 million. The building was constructed in 1910 and converted to residential in the early 1990s. Capano is planning to invest approximately $2 million in renovations to the second floor, where the fitness and leasing centers are currently located. The entire floor will be demolished making way for four additional apartments, renovated leasing and fitness centers and an amenity space for coworking and social gatherings. The upgrades are slated …

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Bell-Trelago-Maitland
FloridaInvestment SalesNewsSoutheast

Bell Partners Buys Trelago in Greater Orlando for $111 Million

by Lynn Peisner

MAITLAND, FLA. — Bell Partners has purchased Trelago, a 350-unit community in Maitland, eight miles north of Orlando. The property has been renamed Bell Trelago. According to the Orlando Business Journal, the sales price was $111.3 million, and the seller was Kettler Inc. Developed in 2019, Bell Trelago is situated on 20 acres on Lake Hope. It is part of the Trelago mixed-used development that includes 135,000 square feet of retail including a future Trader Joe’s store. Walker & Dunlop arranged the sale. With this acquisition, Greensboro, North Carolina-based Bell …

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maddox-sunnyvale-California
CaliforniaInvestment SalesNewsWashingtonWestern

IEC, PGIM Buy Four-Property Portfolio for $272 Million

by Lynn Peisner

LOS ALTOS, CALIF. — Interstate Equities Corp. (IEC), a Los Altos-based investor specializing in value-add assets in California and the Seattle metro area, has acquired a four-property portfolio for $272 million with joint venture partner PGIM. Mesa West Capital provided a $201.5 million acquisition loan arranged by Eastdil Secured. The assets, developed between 1987 and 2015, are The Maddox (184 units) in Sunnyvale, California; Catalyst Mountain View (149 units) in Mountain View, California; Cirrus Redwood City (141 units) in Redwood City, California; and Cumulus SLU (100 units) in Seattle. IEC …

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The-Beacon-at-Pfluger-Farm-Pflugerville
Investment SalesNewsTexas

Virga Capital Buys The Beacon at Pfluger Farm in Metro Austin

by Lynn Peisner

PFLUGERVILLE, TEXAS — Virga Capital, a development and investment firm based in Bozeman, Montana, has acquired The Beacon at Pfluger Farm in the Austin suburb of Pflugerville, about 22 miles northeast of the city. The seller was not disclosed. The three-story garden-style community was built in 2022 and includes one-, two- and three-bedroom units complemented by amenities that include a resort-style pool, two fitness centers, a clubhouse, coworking and lounge spaces, private garages and outdoor gathering areas. Dallas-based Valiant Residential has been selected to manage the property.

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Fountain-Compass-Newport-News
BerkadiaInvestment SalesNewsSoutheastVirginia

D.C.-Based Joint Venture Acquires Compass at City Center in Newport News

by Lynn Peisner

NEWPORT NEWS, VA. — A joint venture between Washington, D.C.-based Penzance and McLean, Virginia-based Kettler has acquired the 396-unit Compass at City Center in Newport News. Drew White, Carter Wood and Cole Carns of Berkadia’s Richmond office arranged the sale on behalf of the sellers, C-III Capital Partners and Drucker & Falk. Patrick McGlohn, Brian Gould, Hunter Wood, Patrick Cunningham and Natalie Hershey of Berkadia DC Metro arranged an acquisition loan on behalf of Penzance and Kettler. Located at 501-A Waters Edge Drive, Compass at City Center was built in …

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Dan-McGue-Coldwell-Banker
CaliforniaFinanceIndustry VoicesInvestment SalesOperationsWestern

Why Renter Demand Is Surging Across the San Francisco Bay Area

by Lynn Peisner

After several years of uncertainty, the San Francisco metro area multifamily housing market is showing clear signs of recovery. The first half of 2025 brought the largest expansion in multifamily demand in years. The 12-month trailing absorption surged to 3,700 units as of the third quarter, one of the highest levels in a decade. Vacancy rates have dropped to 5.1 percent, the lowest since 2014, and apartment rents are up 5.6 percent, placing San Francisco among the top metros in the nation for rent growth. Although sale prices had remained …

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Brent-Maier
DevelopmentIndustry VoicesInvestment SalesOperations

Will Strong Net Absorption Continue in 2026?

by Lynn Peisner

As 2025 ended, net absorption of multifamily units was on track for its third strongest year since 2000. More than 102,000 units were absorbed in the third quarter, marking the third straight quarter of more than 100,000 net units absorbed. Fourth quarter estimates are coming in around 55,000 units. Multifamily absorption measures the net change in occupied apartment units over a given period, indicating whether demand is keeping pace with new supply. As experts review the final numbers of how many apartment units were newly occupied or leased in 2025 …

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Layers-Galleria-Farmers-Branch
Investment SalesNewsTexas

MG Properties Buys Layers Galleria in Farmers Branch, Texas

by Lynn Peisner

FARMERS BRANCH, TEXAS — IPA has arranged the sale of Layers Galleria, a 330-unit property in Farmers Branch, 14 miles north of Dallas. IPA’s Joey Tumminello, Taylor Hill, Drew Kile, Michael Ware and Jack Windham represented the seller, Pittsburgh-based HLC Equity, and procured the buyer, San Diego-based MG Properties. Brian Eisendrath, Cameron Chalfant and Harry Krieger of IPA Capital Markets arranged an undisclosed sum of acquisition financing. The three-story community was developed in 2013. Amenities include a pool, parking garages and a 24-hour fitness center.

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