Investment Sales

Palm-Court-Los-Angeles
CaliforniaInvestment SalesNewsWestern

Prime Residential Buys Palm Court in Los Angeles for $51.3M

by Lynn Peisner

LOS ANGELES — San Francisco-based Prime Residential has acquired Palm Court Apartments in the Miracle Mile neighborhood of Los Angeles for approximately $51.3 million. The seller was a private investor. The 132-unit property was built in 1988 and consists of one-, two- and three-bedroom floor plans as well as a heated pool and a hot tub, fitness center, a rooftop deck and laundry facilities on each floor. Marcus & Millichap represented both parties. Jeff Louks, Gayle Factor and Elliot Sabag represented the seller while Matt Ziegler, Louks, Factor and Sabag …

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avon-woods-Avon
ConnecticutInvestment SalesNewsNortheast

Chozick Brokers $42M Sale of Avon Woods in Metro Hartford, Connecticut

by Lynn Peisner

AVON, CONN. — Chozick Realty has brokered the sale of Avon Woods, a 189-unit community in Avon, approximately 10 miles northwest of Hartford. The asset traded between two unnamed parties, both represented by Chozick, for $42 million. Located on 47 acres, Avon Woods offers private balconies, a pool, tennis courts and walking trails.

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The-Flat-Los-Angeles
CaliforniaInvestment SalesNewsWestern

IPA Brokers Sale of The Flat in Los Angeles

by Lynn Peisner

LOS ANGELES — Institutional Property Advisors (IPA) has arranged the sale of The Flat, a 205-unit property in the City West neighborhood of Los Angeles. Kevin Green, Joseph Grabiec and Gregory Harris of IPA represented the undisclosed seller and procured the buyer, locally based Winstar Properties. The Flat was built in 1968 and features a controlled-access entry system, a resident lounge, upgraded laundry rooms, new windows and a package receiving system.

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Exchange-at-Westgate-Leland
Investment SalesNewsNorth CarolinaSoutheast

Hathaway Cos. Sells Exchange at Westgate in Eastern North Carolina for $58.7M

by Lynn Peisner

LELAND, N.C. — Hathaway Cos. has sold Exchange at Westgate in Leland to Argyle Real Estate Capital for $58.7 million. JLL represented Hathaway in the transaction. The 312-unit property is located at 5214 Browning Lane about 9 miles west of Wilmington. Completed in 2023, Exchange at Westgate features studios, one-, two- and three-bedroom units averaging 931 square feet. The community offers a saltwater pool, fitness center, cyber cafe, clubhouse and grilling areas. Unit interiors are outfitted with granite countertops, stainless steel appliances, wood-style flooring and ceramic tile backsplashes. JLL Capital …

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Hathaway-Plano
Investment SalesNewsTexas

Newmark Brokers Sale of Willow Bend in Plano, Texas

by Lynn Peisner

PLANO, TEXAS — Newmark has arranged the sale of and financing for Hathaway at Willow Bend, a 229-unit community at 2525 Preston Road in Plano. Richard Furr, Brian O’Boyle Jr., Brian Murphy and Jack Forman represented the seller, S2 Capital Acquisitions, in the transaction. Brian Kochan and Michael Caglianone arranged acquisition financing on behalf of the buyer, Granite Towers Equity Group. The sales and financing figures were not disclosed. Hathaway at Willow Bend is a garden-style community offering one-, two- and three-bedroom units, including a variety of townhome floor plans. …

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Castlewood-Buena-Park
CaliforniaInvestment SalesNewsWestern

The Bascom Group Buys Castlewood Park in Buena Park, California, for $53.2M

by Lynn Peisner

BUENA PARK, CALIF. — The Bascom Group has acquired Castlewood Park Apartments in Buena Park for $53.2 million. Brian Eisendrath, Cameron Chalfant, Jesse Zarouk and Jake Vitta of IPA arranged acquisition financing through Brightspire Capital. IPA’s Kevin Green and Joe Grabiec represented the unnamed seller. AMC will provide property management services for the community, while contractor SD-Cap will oversee the planned property renovations. The property was built in 1963. About 60 percent of the units, offered as two-, three- and four-bedrooms, have private yards. Irvine, California-based Bascom plans to renovate …

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The-Jewell-Denver
ColoradoInvestment SalesNewsWestern

Marcus & Millichap Brokers Sale of The Jewell in Denver

by Lynn Peisner

DENVER — Jason Hornik and Greg Parker with Marcus & Millichap’s Denver office have brokered the sale of The Jewell at 4470 E. Jewell Ave. in Denver. A New York-based investor was the seller, and a California-based buyer bought the asset, which was built in 1968. The 93-unit property was 55 percent occupied at the time of the sale. The property was renovated prior to the sale.

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Masons Keepe-Manassas
BerkadiaInvestment SalesNewsSoutheastVirginia

Berkadia Arranges Sale, Financing for Masons Keepe in Manassas, Virginia

by Lynn Peisner

MANASSAS, VA. — Bridge Investment Group has acquired Masons Keepe, a 270-unit property in Manassas for an undisclosed sum. Brian Crivella, Bill Gribbin, Yalda Ghamarian and Jack Canepa of Berkadia D.C. Metro along with Drew White of Berkadia Richmond arranged the sale on behalf of the seller, an entity doing business as University Village Apartments LLC. Located at 9000 Landings Drive, Masons Keepe was built in 2004 and consists of 17 buildings within a gated community. Units are offered as one- and two-bedroom floor plans. Brad Williamson of Berkadia Miami …

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Stamford-Urby-Connecticut
ConnecticutInvestment SalesNewsNortheast

CBRE Arranges $221M Sale of Stamford Urby

by Lynn Peisner

STAMFORD, CONN. — Urby, a joint venture between Ironstate Development and Brookfield Properties, has sold Stamford Urby to Pantzer for $221 million. CBRE’s Jeffrey Dunne, Eric Apfel, Stuart MacKenzie, Travis Langer, and Eric Greenberg arranged the sale. Manhattan-based Pantzer has renamed the property The Point Stamford. Maxi Leachman of CBRE secured an undisclosed amount of debt for Pantzer. The property was developed in two phases (2019 and 2023) and features a 5,500-square-foot fitness center, heated pool, an courtyard, coworking spaces, a lobby, café, outdoor fire pits and grills, covered parking, …

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Elora-Lawrence
Affordable HousingFinanceInvestment SalesMassachusettsNewsNortheast

Northmarq Arranges $22.9M for Affordable Housing Acquisition in Lawrence, Massachusetts

by Lynn Peisner

LAWRENCE, MASS. — Northmarq has arranged a Fannie Mae loan for approximately $22.9 million for Arrowpoint Properties’ acquisition of Elora Flats & Townhomes in Lawrence, 30 miles north of Boston. Northmarq’s Boston-based team was led by Jeff Munoz, Kevin Sykes, Ed Riekstins and Jeffrey Munoz. Built in 2009, Elora Flats & Townhomes features six four-story buildings with 104 residential units reserved for families earning up to 80 percent of area median income. The property has maintained an average occupancy of 97.6 percent over the past 12 months. Amenities include parking for …

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