Investment Sales

C-on-Pico-Los-Angeles
Affordable HousingCompany NewsDevelopmentInvestment SalesOperations

$69M Apartment REIT Megamerger: AvalonBay, Equity Residential Agree to Join Forces

by Lynn Peisner

CHICAGO and ARLINGTON, VA. — Equity Residential (NYSE: EQR) and AvalonBay Communities (NYSE: AVB) have agreed to merge, creating the largest publicly traded apartment REIT in the United States with a combined portfolio of more than 180,000 rental apartments. The deal is expected to close in the second half of 2026, at which time the company’s new name and stock symbol will be announced.  Based on the National Multifamily Housing Council’s 2026 Top 50 Owners rankings, the owned portfolio of the newly combined AvalonBay and Equity Residential entity will exceed …

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biscayne-shores-North-Miami
FloridaInvestment SalesNewsSoutheast

RPM Living, Cantor Fitzgerald Asset Management Buy Biscayne Shores in North Miami

by Lynn Peisner

NORTH MIAMI, FLA. — RPM Living and affiliates of Cantor Fitzgerald Asset Management (CFAM), the investment and asset management division of global financial services and real estate holding group Cantor Fitzgerald, have acquired Biscayne Shores in North Miami, an 8-acre property developed by Integra Investments, the seller. Integra’s development partners included Andrew Korge of Korgeous Group and David Larson of DCL Capital. The group acquired the site in 2020 and completed construction in 2024. The transaction follows previous CFAM and RPM acquisitions in Dallas, Denver, Houston, Orlando and Tampa. Terms …

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FinanceInvestment SalesNewsSoutheastTexas

Hilltop Residential Closes $288M Fund

by Lynn Peisner

HOUSTON — Hilltop Residential, an owner of multifamily real estate that operates across 15 markets in the southeastern United States, has closed Hilltop Growth Fund VI with $288 million in total commitments. Hilltop will seek value-add assets in business-friendly markets demonstrating population and job growth. The investor base includes endowments and foundations, financial institutions, insurance companies, national registered investment advisor (RIA) platforms and family offices. Hilltop expects Fund VI to acquire approximately $1.5 to $2 billion in gross asset value. Through the fund, nine assets have been acquired to date, …

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IllinoisInvestment SalesMidwestNews

JVM Realty and DRA Advisors Form Partnership to Acquire Enclave at 127th in Plainfield, Illinois

by Lynn Peisner

PLAINFIELD ILL. — JVM Realty Corp. and DRA Advisors have formed a joint venture partnership to acquire Enclave at 127th, a 340-unit community in Plainfield, 38 miles southwest of Chicago. JVM acquired the community in 2013, one year after it was constructed. The new joint ownership of the asset will focus on capital improvements to drive value, including unit renovations and amenity enhancements. JVM has stated that it is currently expanding its investment platform through joint venture relationships with institutional partners. DRA Advisors is a New York-based investment advisor that …

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John-Rolfe-Schaumburg
IllinoisInvestment SalesMidwestNews

Interra Realty Brokers Sale of Two Metro Chicago Assets

by Lynn Peisner

CHICAGO — Interra Realty has arranged the sale of two multifamily buildings in the northwest Chicago area totaling $2.98 million. The six-unit 2337 John Rolfe Drive in Schaumburg, Illinois, sold for approximately $1.1 million, while the 12-unit 8755 W. Foster Ave. in Chicago’s O’Hare submarket transacted for $1.9 million. Interra’s Patrick Kennelly, Paul Waterloo and Nathan Zito represented both the confidential buyer and seller of 2337 John Rolfe. Kennelly, Waterloo and Zito also represented the undisclosed buyer and seller of 8755 W. Foster. Both properties were fully occupied at the …

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Northwood-New-Braunfels
Investment SalesNewsTexas

PCC Buys Northwood Apartments in Metro San Antonio

by Lynn Peisner

NEW BRAUNFELS, TEXAS — Denver-based Platte Canyon Capital (PCC) has acquired Northwood Apartments, a 252-unit community in the New Braunfels submarket of San Antonio. The property was purchased from the original developer, which owned the asset since it was constructed in 1998. A second phase was built in 2017. This is PCC’s second acquisition in the San Antonio market with an undisclosed Los Angeles-based investment manager. The two entities are aiming to invest $100 million of equity in multifamily acquisitions. In 2025, the partners bought the 268-unit Allure Apartments in …

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Trails-Edge-west-bend
Investment SalesMidwestNewsWisconsin

CBRE Arranges Sale of Trail’s Edge in West Bend, Wisconsin

by Lynn Peisner

WEST BEND, WIS. — CBRE has arranged the sale of Trail’s Edge Apartments, a 120-unit property in West Bend, about 40 miles north of Milwaukee. Wisconsin Lakefront Property Management LLC acquired the asset for an undisclosed price from an affiliate of American Construction Services, the property’s original developer, which completed Trail’s Edge in 2022. CBRE’s Sean Beuche, Matson Holbrook and Gretchen Richards represented the seller in the transaction. The property features one‑and two‑bedroom floor plans and such amenities as a fitness center, gazebo, picnic area, a community room, keyless building …

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Griffin-Hoffmann-Andover
Company NewsInvestment SalesNewsPeople News

Andover Real Estate Partners Hires Griffin Hoffmann to Lead Acquisitions

by Lynn Peisner

BOCA RATON, FLA. — Andover Real Estate Partners has hired Griffin Hoffmann as principal, head of acquisitions. Hoffmann joins Andover from HPP Real Estate, where he served as partner and head of acquisitions, overseeing new investments and asset management for a portfolio of approximately 1,500 multifamily units nationwide. Earlier in his career, he led acquisitions and development for Somerset Partners/SAM (Sandhurst Apartment Management), where he was responsible for about $1.5 billion in transactions. At Andover, Hoffmann will lead the firm’s national growth, with a focus on value-add multifamily investments in …

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parc@5-Downey
CaliforniaInvestment SalesNewsWestern

Colliers Arranges Sale of Parc @ 5 in Downey, California

by Lynn Peisner

DOWNEY, CALIF. — Colliers has arranged the sale of Parc @ 5, a 104-unit property in Downey, approximately 12 miles south of Los Angeles. B.A.G. Investments acquired the asset from an entity doing business as Parc @ 5 Downey LLC. The sales price was not disclosed. Representing the seller, Colliers’ Shane Shafer brokered the transaction. The community is made up of one-, two- and three-bedroom units.

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Silver-Oaks-Tampa
Affordable HousingDevelopmentFloridaInvestment SalesNewsSoutheast

Fairstead Invests $54.7M to Acquire and Redevelop Silver Oaks Apartments in Tampa, Florida

by Lynn Peisner

TAMPA, FLA. — New York City-based affordable housing developer Fairstead has announced the $54.7 million acquisition and rehabilitation of Silver Oaks Apartments in Tampa. The 200-unit property was built in 1973 and is governed by Section 8 and Low-Income Housing Tax Credit (LIHTC) affordability restrictions, with all units reserved for households earning up to 60 percent of area median income. Construction and redevelopment efforts at Silver Oaks Apartments will begin in the second quarter of this year with completion slated for the third quarter of 2027. Located at 4200 Kenneth …

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