Investment Sales

Liam-at-Hays-Farm-Huntsville
AlabamaInvestment SalesNewsSoutheast

Greystone Acquires The Liam at Hays Farm in Huntsville, Alabama, for $64M

by Lynn Peisner

HUNTSVILLE, ALA. — Newmark has arranged the $64 million sale of The Liam at Hays Farm, a 326-unit community in Huntsville. Justin Uffinger and Sarah Nee of Newmark Multifamily Capital Markets represented the seller, a joint venture between Bomasada Group and an affiliate of The Wolff Co., in the transaction. The buyer was Greystone. The property, located within the 850-acre Hays Farm master-planned community in South Huntsville, was developed in 2024. Amenities include a resort-style pool, courtyard and a fitness center.

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El-Dorado-Apartments-Belmont
CaliforniaInvestment SalesNewsWestern

El Dorado Apartments in Bay Area Trades for $20.2M

by Lynn Peisner

BELMONT, CALIF. — Marcus & Millichap has arranged the sale of El Dorado Apartments in Belmont, approximately 22 miles south of San Francisco. The 39-unit community traded between two undisclosed parties for the sum of $20.2 million, or $518,910 per unit. Marcus & Millichap’s Robert Johnston, Adam Levin and Arman Sadigh led the transaction. Constructed in 1962, El Dorado Apartments is comprised of a mix of one- and two-bedroom units. Amenities include a fitness center and private, covered parking.

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76-E-Park St-East-Orange
Investment SalesNew JerseyNewsNortheast

ICON Real Estate Advisors Arranges Sale in East Orange, New Jersey

by Lynn Peisner

EAST ORANGE, N.J. — Locally based ICON Real Estate Advisors has arranged the sale of a 26-unit property at 76 E. Park St. in East Orange, N.J. The asset traded between two LLCs for approximately $2.6 million. The deal was completed by David Oropeza, who advised the seller on the purchase more than 20 years prior. The seller was also advised by attorney Khoren Bandazian of Giordano, Halleran & Ciesla. The property comprises a two-story, 26-unit garden style building.

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Garden-Court-Atlantic-City
Affordable HousingDevelopmentInvestment SalesNew JerseyNewsNortheast

WinnDevelopment Launches $33M Renovation of Atlantic City Affordable Housing Community

by Lynn Peisner

ATLANTIC CITY, N.J. — WinnDevelopment has begun a $33 million renovation at Garden Court Apartments in Atlantic City, a 177-unit, 20-building complex that has been housing much of the city’s workforce since it was constructed in 1985. WinnCos. secured Low-Income Housing Tax Credit equity through the New Jersey Housing and Mortgage Financing Agency, which will enable the units to remain affordable to renters earning no more than 80 percent of area median income for the next 45 years. Boston Financial Management purchased the tax credits. The scope of work includes …

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River-Oaks-Tucson
ArizonaInvestment SalesNewsWestern

IPA Arranges Sale of River Oaks in Tucson, Arizona

by Lynn Peisner

TUCSON, ARIZ. — Institutional Property Advisors (IPA) has arranged the sale of River Oaks, a 300-unit property in Tucson. Neither the sales price, buyer nor seller were disclosed. IPA’s Clint Wadlund and Hamid Panahi represented the seller and procured the buyer. River Oaks is located in East Tucson on Broadway Boulevard. The property was developed on 10 acres in 1982. Units are offered as studio, one- and two-bedroom units. Amenities include a stand-alone clubhouse, two pools, a playground and three laundry facilities.

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Cressmoor
DevelopmentFeaturesFinanceInvestment Sales

BTR Investors Rethink Development Risk

by Lynn Peisner

By Douglas Kelin and Bryan Pritchard Build-to-rent (BTR) has quickly become one of the most prominent strategies in residential real estate. In 2024 alone, the number of BTR homes delivered in the United States was approximately 10 times higher than it was a decade earlier. While that growth shows no signs of slowing, the version of build-to-rent that investors are pursuing today looks very different from the development-heavy model of just a few years ago. A combination of regulatory pressure, shifting market conditions and strategic refinement is pushing the sector …

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Grandstone-at-Sunrise-Peoria
ArizonaInvestment SalesNewsWestern

Thompson Thrift Sells Metro Phoenix BTR Development for $45.9M

by Lynn Peisner

PEORIA, ARIZ. — Marcus & Millichap has arranged the $45.9 million sale of Grandstone at Sunrise, a 140-unit build-to-rent community in the northwest Phoenix suburb of Peoria. Terre Haute, Indiana-based Thompson Thrift was the seller, having developed the property in 2021. The Phoenix Business Journal reports the buyer to be MetLife Investment Management. The sales price equates to $327,500 per unit. Steve Gebing and Cliff David with Institutional Property Advisors, a division of Marcus & Millichap, represented Thompson Thrift in the transaction. Grandstone at Sunrise is comprised of 70 residential …

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Roosevelt-Apartments-New-Bedford
Investment SalesMassachusettsNewsNortheast

Marcus & Millichap Arranges $8.7M Sale of 1920s Apartment Building in New Bedford, Massachusetts

by Lynn Peisner

NEW BEDFORD, MASS. — Marcus & Millichap has arranged the $8.7 million sale of Roosevelt Apartments in downtown New Bedford, about 58 miles south of Boston. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap marketed the property on behalf of the seller, a family office based in New Jersey, and procured the undisclosed buyer. Roosevelt Apartments consists 73 studio, one- and two-bedroom units. The six-story brick apartment building was built in 1924, sits on about a half-acre lot and includes 26 off-street parking spaces. The property is located at …

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Resia-Tributary-Douglasville
GeorgiaInvestment SalesNewsSoutheast

Elmington Residential Buys Resia Tributary in Metro Atlanta for $73.3M

by Lynn Peisner

DOUGLASVILLE, GA. — JLL has arranged the $73.3 million sale of Resia Tributary, a 433-unit community in the western Atlanta suburb of Douglasville. Miami-based developer Resia was the seller, and Nashville, Tennessee-based investor, developer and property manager Elmington Residential was the buyer. Located at 1851 Market St., the asset was built in 2023 and includes a mix of studios, one- and two-bedroom units and such amenities as a pool, 24-hour fitness center, pickleball court, outdoor gaming area, dog park and a multi-purpose community room with workspaces. Additionally, Resia Tributary includes 12,341 …

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4107-Connecticut-Ave-NW-DC
Investment SalesNewsNortheastWashington, D.C.

Marcus & Millichap Arranges $4.7M Sale of 21-Unit Property in Northwest D.C.

by Lynn Peisner

WASHINGTON, D.C. — Marcus & Millichap has arranged the sale of 4107 Connecticut Ave. NW, a 37-unit apartment building in the Van Ness neighborhood of Washington, D.C. The asset sold for approximately $4.7 million. Marcus & Millichap also arranged $3.5 million in acquisition financing. The seller and buyer were identified as two LLCs, Sirius and White Crest, respectively. The four-story apartment building totals approximately 14,400 rentable square feet. The unit mix includes 21 studios, seven one-bedroom units and nine two-bedroom units. Built in 1957, the building has undergone recent renovations, …

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