Investment Sales

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Investment SalesNewsNorth CarolinaSoutheastVirginia

Newbrook Capital Partners Buys Two-Property Portfolio for $58.2 Million

by Lynn Peisner

CHESAPEAKE, VA., ELIZABETH CITY, N.C. — Newbrook Capital Properties has acquired a two-property portfolio for $58.2 million. The assets are Green Tree, a 208-unit garden-style property in Chesapeake, and Emerald Lake, a 132-unit garden-style property about 40 miles south in Elizabeth City. Both communities were developed in the 1990s. The buyer is planning to update approximately 70 percent of the portfolio’s units. Newbrook Capital Properties was co-founded in late 2023 by hedge fund manager Robert Boucai and James Broyer, former president of multifamily investments at JRK Property Holdings. The unnamed …

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CEI-Hillcrest-Antioch
Affordable HousingCaliforniaCompany NewsDevelopmentFinanceFloridaInvestment SalesNewsNorth CarolinaNortheastSouth CarolinaSoutheastWestern

CEI Launches Affordable Housing Investment Partnership

by Lynn Peisner

LOS ANGELES — Los Angeles-based developer Cypress Equity Investments (CEI) and an unnamed Florida-based investment firm have partnered to build or acquire approximately $1.2 billion worth of affordable housing communities. The venture is being launched with 11 ground-up projects that are already in place in California and Florida. Target markets for future opportunities include the Carolinas, Tennessee, Texas and some markets in the Northeast. Some of the deal characteristics CEI is seeking will include communities with on-site resident services, developments that partner with nonprofits and acquisitions of other existing institutional …

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Grove-Ridge-Cottage-Grove
Investment SalesMidwestMinnesotaNews

Centerspace Sells Twin Cities Portfolio for $76 Million

by Lynn Peisner

MINNEAPOLIS — San Francisco-based FPA Multifamily has purchased a 679-unit portfolio consisting of seven properties throughout the Twin Cities metro from Centerspace (NYSE: CSR), a Minot, North Dakota-based REIT. The Minneapolis/St. Paul Business Journal reports the portfolio traded for $76 million. CBRE’s Ted Abramson, Keith Collins and Abe Appert represented Centerspace in the transaction. Properties in the portfolio range from historic redevelopments in the North Loop area to contemporary, boutique-style assets in the Edina and South Minneapolis submarkets. Several properties have undergone renovations. All seven properties are equipped with SmartRent …

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Investment SalesNewsTexas

Clover Capital Partners Buys Woodlands of Plano

by Lynn Peisner

PLANO, TEXAS — Clover Capital Partners has acquired The Woodlands of Plano in Northeast Plano, 20 miles north of Dallas. CBRE arranged the sale of the 232-unit community that was developed in 1968. The seller’s identity was not disclosed. The Dallas-based buyer will assume fixed-rate debt at a 3 percent interest rate with 10 years remaining on the loan. The property provides a mix of one-, two- and three-bedroom floor plans.

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Loft-One35-Charlotte
FinanceInvestment SalesNewsNorth CarolinaSoutheast

Mesa West Provides Loan for JV’s Charlotte Acquisition

by Lynn Peisner

CHARLOTTE, N.C. — Mesa West Capital has provided a joint venture between Hillridge Capital and Broad Creek Capital with a $69.8 million first mortgage loan for the acquisition and renovation of Loft One35 in Charlotte’s South End neighborhood. The total acquisition cost was $94 million, according to the Charlotte Business Journal. Loft One35 is a 298-unit, six-story community that offers a mix of loft-style apartments as well as townhomes. Amenities include a resort-style pool, a courtyard with a fire pit and grilling stations, a pet spa, a coffee bar and …

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McKinney-Village
Investment SalesNewsTexas

Equus Sells McKinney Village to Weidner

by Lynn Peisner

MCKINNEY, TEXAS — Equus has sold McKinney Village to Weidner Apartment Homes. The 245-unit community about 50 miles north of Dallas in McKinney was built in 2017 with a unit mix comprised of studios, one- and two-bedroom floor plans as well as two-story townhomes with attached garages. Amenities include a resort-style pool with covered seating and grilling stations, a fitness center with cardio and strength equipment, a clubhouse lounge, a pet park and a community garden. Brian O’Boyle Jr. with Newmark represented Philadelphia-based Equus in the transaction. The sales price …

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Albee-Frisco
Investment SalesNewsTexas

Bell Partners Buys The Albee in Frisco, Rebrands as Southstone Yards

by Lynn Peisner

FRISCO, TEXAS — Bell Partners has acquired The Albee Apartments in Frisco and will rebrand the asset Bell Southstone Yards. Neither the seller nor the sales price was disclosed. The 355-unit community was completed earlier this year and is located within the Southstone Yards mixed-use community currently under development by multiple partners including Crow Holdings and Rosewood Property Co. With this acquisition, Greensboro, North Carolina-based Bell Partners now owns or manages 42 communities comprising approximately 15,200 units across the Dallas-Fort Worth region.

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Albertville-Meadows-Minnesota
Affordable HousingInvestment SalesMidwestMinnesotaNews

Dominium Sells Albertville Meadows for $11.2 Million

by Lynn Peisner

ALBERTVILLE, MINN. — Dominium has sold Albertville Meadows to an undisclosed buyer for $11.2 million. The property is located 32 miles northwest of Minneapolis in Albertville. Mox Gunderson, Dan Linnell, Adam Haydon and Devon Dvorak of Colliers arranged the sale. The 75-unit affordable housing community was built in 1993. To qualify, a single tenant can earn no more than $55,620 per year. Rents are capped at combined annual salaries of $63,600 for two occupants; $71,520 for three occupants; and $79,440 for units with four residents.

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Columbus-Renaissance-Housing-Columbus-Ohio
Affordable HousingInvestment SalesMarket ReportsNews

Multifamily Investor Sentiment Strengthens, Urgency Builds to Deliver More Affordable Housing, 2026 Emerging Trends Forecast Reveals

by Lynn Peisner

Commercial real estate industry leaders are more bullish on the investment prospects for the multifamily sector than they were a year ago, according to the newly released 2026 Emerging Trends in Real Estate forecast conducted by the Urban Land Institute (ULI) and PwC. Among major property types on a scale of 1 to 5 — where 1 is abysmal and 5 is excellent — multifamily (including single-family rentals) achieved a rating of 3.67, second only to mixed-use/alternative assets, which posted a rating of 3.69. The industrial/distribution sector scored 3.61, followed …

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Sonterra-Roseville
CaliforniaInvestment SalesNewsWestern

CONAM Group Buys Sonterra in Suburban Sacramento

by Lynn Peisner

ROSEVILLE, CALIF. —  The CONAM Group has acquired Sonterra Apartments in Roseville, 19 miles northeast of Sacramento, California. The 136-unit property, developed in 2001, is comprised of 10 two-story garden-style buildings situated on about 7 acres. The community offers a 24-hour fitness center, a resort-style pool and hot tub, a barbecue area, a resident clubhouse and leasing office, an outdoor fireplace, picnic areas, package lockers and a bocce ball court. The seller and sales price were not disclosed.

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