Investment Sales

Avant-at-Fashion-Center-Chandler
ArizonaInvestment SalesNewsWestern

Stockdale Capital Partners Buys Avant at Fashion Center in Phoenix Metro for $110.3 Million

by Lynn Peisner

CHANDLER, ARIZ. — Stockdale Capital Partners has acquired Avant at Fashion Center in Chandler for approximately $110.3 million. The 355-unit mid-rise community was built in 2017 and features a mix of studio, one- and two-bedroom units housed in seven, three- and four-story buildings on an 11.4-acre site. Amenities include a pool with a deck and cabanas, covered social areas, stainless steel grills, a resident lounge and a two-story fitness center. IPA’s Steve Gebing and Cliff David marketed the property on behalf of the undisclosed seller. This is Stockdale’s second acquisition …

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Tempo-at-Riverpark-Oxnard
CaliforniaInvestment SalesNewsWestern

Bascom Group Sells Tempo at Riverpark in Oxnard, California, for $105 Million

by Lynn Peisner

OXNARD, CALIF. — Bascom Northwest Ventures has sold Tempo at Riverpark Apartments in Oxnard to a venture led by Hines for $105 million. The Bascom Group acquired the 235-unit asset via a value-add fund in 2018 for approximately $75.3 million. The asset was developed by The Wolff Co. in 2015. Bascom invested approximately $1 million in upgrades during its hold period, during which Apartment Management Consultants was the property manager. Both buyer and seller were represented in the sale by Blake Rogers, Alex Caniglia and Kip Malo at JLL. Tempo …

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Lumia-Azusa
CaliforniaInvestment SalesNewsWestern

CBRE Arranges $53 Million Transaction in California’s San Gabriel Valley

by Lynn Peisner

AZUSA, CALIF. — CBRE has arranged the $53 million sale of Lumia, a 127-unit community in Azusa, 23 miles east of Los Angeles. CBRE’s Chris Tresp, Derrek Ostrzyzek, Rachel Parsons, Mike Murphy and Kenji Thomas represented the seller, Serrano Development, in the transaction. The buyer is an entity doing business as Azusa LLC. Completed in 2024, Lumia features 9,132 square feet of street-level retail and a resort-style pool and hot tub, a fitness center, coworking spaces and pet amenities.

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The-Maggie-Raleigh
Investment SalesNewsNorth CarolinaSoutheast

Tishman Speyer Buys The Maggie In Raleigh, North Carolina

by Lynn Peisner

RALEIGH, N.C. — Tishman Speyer has acquired The Maggie, a 244-unit community adjacent to North Carolina State University in Raleigh. The property sits on 2.8 acres and was developed in 2014. Located at 401 Oberlin Road, The Maggie is in Raleigh’s Village District, a mixed-use destination with pedestrian-friendly streets, a series of parks and about 100 stores and restaurants.  The community features a unit mix ranging from studios to three-bedrooms above 9,000 square feet of street-level retail. Amenities include a fitness center, saltwater pool, a business center, a lounge, golf …

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retreat-at-valencia-Orlando
Affordable HousingFloridaInvestment SalesNewsSoutheast

Avanath Buys Orlando Mixed-Income Community for $73.5 Million

by Lynn Peisner

ORLANDO, FLA. — Avanath Capital Management has acquired Retreat at Valencia in Orlando from an undisclosed seller for $73.5 million. The Irvine, California-based affordable housing investment firm will reserve one half of the property’s 336 units for families earning up to 60 percent of area median income. The remaining 168 units will be rented at market rates. Avanath also plans to provide financial counseling programs, health and wellness initiatives and resident activities and events. Retreat at Valencia was built in 2001 and is comprised of one-, two-, three- and four-bedroom …

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pointe-at-midtown-Raleigh
Investment SalesNewsNorth CarolinaSoutheast

FCP Sells The Pointe at Midtown in Raleigh, North Carolina

by Lynn Peisner

RALEIGH, N.C. — Federal Capital Partners (FCP) has sold The Pointe at Midtown, a 365-unit community at 901 Navaho Drive in the North Hills area of Raleigh. According to the Triangle Business Journal, Kane Realty paid about $72.3 million for a 28-acre site that included The Pointe at Midtown as well as  the Grove Towers office buildings. Chevy Chase, Maryland-based FCP was represented by Hunter Barron, Teddy Hobbs, Ryan Gavigan, Ben Bury and Woody Flythe of JLL in the sale. The Pointe at Midtown offers two- and three-bedroom floor plans and …

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Legends-at-Laurel-Canyon-Canton
GeorgiaInvestment SalesNewsSoutheast

The Milestone Group Buys North Atlanta Community

by Lynn Peisner

CANTON, GA. — Dallas-based The Milestone Group has acquired Legends at Laurel Canyon, a 266-unit garden-style community in the Atlanta suburb of Canton. Legends at Laurel Canyon offers floor plans averaging 1,227 square feet and features a clubhouse, fitness center, resort-style saltwater pool, Amazon Hub Lockers, a car care center, bike racks and a pet park and spa. The gated community is comprised of one-, two- and three-bedroom units. The sales price and seller were not disclosed. The community was developed in 2020 on approximately 27 acres and is located …

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Lofts-at-1835-Arch-Philadelphia
FinanceInvestment SalesNewsNortheastPennsylvania

GY Properties Obtains $44 Million Fannie Mae Acquisition Loan for Philadelphia’s The Loft at 1835 Arch

by Lynn Peisner

PHILADELPHIA — Walker & Dunlop has arranged a $44 million Fannie Mae acquisition loan for GY Properties’ purchase of The Lofts at 1835 in Philadelphia. The sale was first announced in November. Originally built in 1928 and redeveloped in 2000, the 17-story, 191-unit building was sold by Brookfield Properties and acquired by an affiliate of locally based GY Properties, which owns a portfolio of assets concentrated in the Mid-Atlantic. According to the Philadelphia Business Journal, the total acquisition cost was $60 million. The new ownership plans to add units to …

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NOVEL-Arlington-Virginia
Affordable HousingBuild-to-RentDevelopmentInvestment SalesNewsNortheastWashington, D.C.

Crescent Communities, Rockefeller Group Partner on D.C. NOVEL Project

by Lynn Peisner

ARLINGTON, VA. — Crescent Communities, in its first partnership with Rockefeller Group, has closed on a land sale for the future development of NOVEL Arlington. Early plans for the community call for 493 apartments and 37 townhomes rented at both affordable and market rates. Rent caps were not disclosed. The site, 5.5 acres at 2480 South Glebe Road, is about 3 miles west of Ronald Reagan Washington National Airport. Two existing hotels on the parcel are expected to be demolished to make way for the LEED Gold-targeted project. Completion is …

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Residences-at-Prairiefire-Overland-Park
FinanceInvestment SalesKansasMidwestMissouriNews

Northmarq Arranges $65.7 Million Loan for Acquisition of Residences at Prairiefire in Overland Park, Kansas

by Lynn Peisner

OVERLAND PARK, KAN. — Northmarq has arranged a $65.7 million Freddie Mac acquisition loan for sponsor Price Brothers. The locally based owner/operator has acquired Residences at Prairiefire, a 426-unit community that was built in 2014. Neither a total purchase price nor a seller’s name was disclosed. Units are offered as one-, two- and three-bedroom floor plans. Amenities include a cyber café, business center, a pool and poolside lounge with a TV, outdoor kitchen space, a car-care center and package management services. The community is located in the Prairiefire mixed-used district …

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