Investment Sales

VillaDelMar-Colliers
CaliforniaInvestment SalesNewsWestern

Colliers Arranges Sale in Marina del Ray

by Lynn Peisner

LOS ANGELES — Colliers has arranged the sale of Villa Del Mar, a 198-unit waterfront community in the Marina del Rey neighborhood of Los Angeles. Colliers Vice Chair Kitty Wallace represented both the seller, original developer, Villa Del Mar Properties, and long-time operator, Far West Management, and a private buyer. Villa Del Mar is situated on approximately 5 acres with 1,500 linear feet of marina frontage and is one of 16 communities along the Marina del Ray harbor. The property was developed in 1972. Villa Del Mar properties has invested …

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7700-7720-Abbott-Avenue
FloridaInvestment SalesNewsSoutheast

Marcus & Millichap Arranges $9 Million Sale of Midcentury Miami Beach Property

by Lynn Peisner

MIAMI BEACH, FLA. — Bristol Realty Partners LLC has sold 7700-7720 Abbott Avenue, a three-property, 36-unit, corner-lot portfolio in Miami Beach for $9 million. Joseph P. Thomas, senior managing director investments, and Alec Demetriou and Adam Marcuvitz, investment specialists in Marcus & Millichap’s Fort Lauderdale office, marketed the property on behalf of the seller and procured the unidentified buyer. Built between 1940 and 1957, the three properties include 12 studios and 24 one-bedroom units on approximately 17,000 square feet of land.

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East-17th-Place-Costa-Mesa
CaliforniaInvestment SalesNewsWestern

CBRE Arranges $9.6 Million Deal in Orange County, California,

by Lynn Peisner

COSTA MESA, CALIF. — CBRE has arranged a $9.6 million trade of a 22-unit property in Costa Mesa between two undisclosed parties. The asset is located at 313 and 325 East 17th Place in the Eastside neighborhood of Costa Mesa. The property has not been on the market for about 25 years. CBRE’s Dan Blackwell and Mike O’Neill represented the buyer, a private investor based in Fountain Valley, California. The seller was a private investor from Orange County, California. Built in 1961, the property comprises six one-bedroom units and 16 …

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Briggs-Village
Investment SalesNewsWashingtonWestern

IPA Arranges Sale in Olympia, Washington

by Lynn Peisner

OLYMPIA, WASH. — Nearon Enterprises has acquired Briggs Village from Glencrest Group. The 72-unit property is located with the 137-acre Briggs Village master-planned community in Olympia that includes retail, office and residential uses. The sales price was not publicly disclosed. Institutional Property Advisor’s Ryan Harmon, Philip Assouad, Giovanni Napoli, Nick Ruggiero and Anthony Palladino represented Nearon in the deal. Constructed in 2019, Briggs Village is three miles south of the Washington State Capitol campus and is connected to walking trails and six lakes.

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Flats-at-87Ten
Investment SalesNewsNorth CarolinaSoutheast

Vertex Buys Adaptive Reuse Asset in Charlotte

by Lynn Peisner

CHARLOTTE, N.C. — Vertex Investments has acquired Flats at 87Ten, a 96-unit property in Charlotte’s University City neighborhood, from Lucern Capital Partners for $9.7 million. Northmarq’s Ron Corrao, Eric Liebich, Matt Weinstein and Dane Lozier arranged the sale, representing the seller in the deal. The asset was originally developed in 2000 as a TownePlace Suites extended stay hotel and was redeveloped, by Lucern, as multifamily in 2023.

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Bridgewater-Grand
BerkadiaFloridaInvestment SalesNewsSoutheast

Berkadia Arranges Sale of Bridgewater Grand in Lakeland

by Lynn Peisner

LAKELAND, FLA. — TrimCor has sold Bridgewater Grand, a 300-unit property in Lakeland, to Hamilton Point Investments for an undisclosed amount. Managing Director David Etchison, Senior Managing Directors Cole Whitaker and Jason Stanton and Director Mary Beale of Berkadia Central & North Florida led the transaction on behalf of the seller. The property was 95 percent occupied on July 10, the date of the sale. Lakeland is located midway between Tampa and Orlando. Bridgewater Grand was developed in 2020 and is a three-story, garden-style community on 31 acres overlooking a …

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Alessia-Gardens
GeorgiaInvestment SalesNewsSoutheast

RSN, Monday Acquire Asset Near Lake Lanier, Georgia

by Lynn Peisner

OAKWOOD, GA. — Joint venture partners RSN Property Group and Monday Properties have acquired Audubon Crest, a 126-unit, garden-style community in Oakwood, 50 miles northeast of Atlanta. The new owners have rebranded the asset Alessia Gardens and are planning unit upgrades. The deal marks the partnership’s fourth acquisition in the past eight months. Amenities at the property include a pool, a dog park, green space and a car-washing station.

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7770-Pipers-Lane
Investment SalesNewsTexas

Platte Canyon Capital Buys Allure Apartments in San Antonio

by Lynn Peisner

SAN ANTONIO — Platte Canyon Capital (PCC), in partnership with an unnamed Los Angeles-based institutional real estate investment manager, has acquired Allure Apartments in an off-market transaction. The 268-unit community in San Antonio was developed in phases on 11.5 acres, with the first 116 units constructed in 1984 and another 152 delivered in 2017. The property is in the Westover Hills submarket and includes one-, two- and three-bedroom floor plans. Amenities include a pool, fitness center, clubhouse, playground and grilling areas. PCC is planning a $4.7 million capital improvement program …

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365-Nicollet
Investment SalesMidwestMinnesotaNews

Waterton Buys Minneapolis High-Rise for $111.5 Million

by Lynn Peisner

MINNEAPOLIS — Waterton has acquired 365 Nicollet, a 370-unit, 30-story property in Minneapolis from joint venture owners Opus Development Co. and Corebridge Real Estate Investors. The sales price was $111.5 million, according to the Minneapolis/St. Paul Business Journal. Constructed, designed and developed by Opus in 2018, 365 Nicollet’s unit mix includes studios and one-, two- and three-bedroom apartments as well as 50 penthouse units with a higher-end appliance package and hardwood floors. Amenities at 365 Nicollet include a fitness center and yoga studio, a sauna, an outdoor pool with a …

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Perse-Apartments
FloridaInvestment SalesNewsSoutheast

Atlas Real Estate Partners Buys Perse Apartments in Orlando

by Lynn Peisner

ORLANDO, FLA. — Atlas Real Estate Partners has acquired Perse Apartments, a 384-unit community located in Orlando, about three miles from Disney World. The seller, TRION Properties, was represented by JLL’s Capital Markets Investment Sales and Advisory team led by Directors Ted Taylor and Kyle Butler. Financing was arranged by Scott Wadler, Mitch Sinberg, Matt Robbin and Brad Williamson of Berkadia. Built in 2008, Perse Apartments consists of one-, two- and three-bedroom units averaging approximately 1,100 square feet. Atlas is planning a value-add strategy during its hold period with capital …

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