Investment Sales

PCCP, Alliance Residential Buy The Hawthorne in Riverside, California, for $65.3M

by Lynn Peisner June 9, 2026

RIVERSIDE, CALIF. — A joint venture between PCCP and Alliance Residential Co. has acquired The Hawthorne at 9170 Indiana Ave. in Riverside. An undisclosed seller sold the 184-unit property for $65.3 million. Situated on 6.7 acres and consisting of 16 three- and two-story buildings and one single-story amenity building, The Hawthorne was delivered in 2023 and is a garden-style community. The property offers a mix of one-, two- and three-bedroom floor plans averaging approximately 873 square feet. Amenities include a resort-style pool and hot tub with cabanas, multiple landscaped courtyards …

June 9, 2026

Arizona Investment Sales News Western

Wood Partners Sells Alta Rise in Gilbert, Arizona

by Lynn Peisner June 9, 2026

GILBERT, ARIZ. — Institutional Property Advisors (IPA) has arranged the sale of Alta Rise in North Gilbert, Arizona. IPA’s Steve Gebing and Cliff David represented the seller, Atlanta-based Wood Partners, which developed the property, opening it in 2025. IPA also procured the unnamed buyer. The 278-unit community is a four-building property with a fourth-floor lounge and deck. Additional amenities include a speakeasy, a lawn with yard games and a firepit, a multipurpose field, pickleball courts and a resort-style pool and hot tub. Apartments feature walk-in closets with built-in shelving, kitchens …

June 9, 2026

Investment Sales News Southeast Virginia

Greysteel Brokers $10M Sale of River Oaks in Norfolk, Virginia

by Lynn Peisner June 9, 2026

NORFOLK, VA. — Greysteel has brokered the sale of River Oaks Apartments in Norfolk. The 100-unit community sold to a Virginia-based private investor for $10 million. Located at 1464 Gabriel Drive, River Oaks consists of one- and two-bedroom apartments. Greysteel secured an acquisition loan that included capital expenditure funding for future renovations.

June 9, 2026

Investment Sales New Jersey News Northeast

ICON Arranges $19.4M, Two-Property Sale in Long Branch, New Jersey

by Lynn Peisner June 8, 2026

LONG BRANCH, N.J. — ICON Real Estate Advisors has arranged the $19.4 million sale of The Pavilion, a 46-unit multifamily building at 165 Pavilion Ave., and an adjacent retail property at 231 Third Ave. in Long Branch, 57 miles south of Manhattan. The buyer, Henshaw Realty, acquired the assets as part of a 1031 exchange following the sale of a New York City asset. The seller was Jebara Partners, the original developer. The Pavilion was completed in 2021 and is a five-story building. The retail property is occupied by tenants …

June 8, 2026

Finance Industry Voices Investment Sales

Why a Recalibrating Multifamily Market Rewards Patient Investors

by Lynn Peisner June 8, 2026

By Craig Johnsen Few sectors have shifted more over the past five years than multifamily housing. From 2020 through 2022, asset prices climbed at a rate that, in retrospect, far outpaced the underlying drivers of long-term value. From 2023 through 2025, those same assets gave back much of that appreciation as capital pulled back, lenders grew more cautious and headlines became less favorable. To a casual observer, the sector now looks like one to wait out. If you are deeply embedded in the economics of the industry, however, it could …

June 8, 2026

Affordable Housing California Investment Sales News Western

HVPG Buys Metro Sacramento Affordable Housing Property for $83.6M

by Lynn Peisner June 5, 2026

ELK GROVE, CALIF. — Hudson Valley Property Group (HVPG) has acquired Mosa Apartment Homes, a 387-unit affordable housing community in Elk Grove, 14 miles south of Sacramento, for $83.6 million. Completed in 2025, Mosa is a 14-building, garden-style community offering a mix of unit types serving a broad range of household income levels. The property is structured across three Low-Income Housing Tax Credit (LIHTC) partnerships, each subject to its own regulatory agreement, that cover 100 percent of units, with HVPG acquiring the general partner interests in all three. Approximately 8 …

June 5, 2026

Investment Sales News Texas

MG Properties Buys Reserve at Spring Creek in Richardson, Texas

by Lynn Peisner June 5, 2026

RICHARDSON, TEXAS — Institutional Property Advisors (IPA) has arranged the sale of Reserve at Spring Creek, a 458-unit community in Richardson, 17 miles northeast of Dallas. IPA’s Joey Tumminello, Drew Kile, Michael Ware, Taylor Hill and Jack Windham represented the seller, an affiliate of Lone Star Funds, and procured the buyer, MG Properties. Brian Eisendrath, Cameron Chalfant and Harry Krieger of IPA Capital Markets arranged an undisclosed amount of financing. Developed in 2019 on 17 acres, Reserve at Spring Creek has a fitness center, clubhouse, resort-style pool and a business …

June 5, 2026

Development Finance Illinois Investment Sales Midwest News

Eastern Union Arranges $15.9M Loan for Adaptive Reuse Project in East Peoria, Illinois

by Lynn Peisner June 5, 2026

EAST PEORIA, ILL. — Eastern Union has arranged a $15.9 million acquisition and construction loan for the conversion of a former assisted living facility into a 246-unit multifamily property located at 500 Centennial Drive in East Peoria. The financing was arranged by Joe Siegfried of Eastern Union. The borrower was The H&A Group of South Bend, Indiana, a real estate investment and development company focused on value-add and adaptive reuse projects across multiple asset classes. The loan was provided by Genesis Capital, which is based in Sherman Oaks, California. Originally …

June 5, 2026

Investment Sales New York News Northeast

Marcus & Millichap Brokers $23.5M Sale of Brooklyn Property

by Lynn Peisner June 4, 2026

NEW YORK CITY — Marcus & Millichap has arranged the sale of 1000 Ocean Parkway, a 122-unit apartment building in the Midwood neighborhood of Brooklyn. The property sold for $23.5 million, or $192,623 per unit. Marcus & Millichap’s Matt Fotis represented the seller, the Cohen family, and procured the buyer, David Brecher, chief executive of Brooklyn-based FM Home Loans. The property is located on the corner of Ocean Parkway and Avenue J. Built in 1964 and renovated in 2021, 1000 Ocean Parkway has two elevators, a doorman, laundry facilities and …

June 4, 2026

Investment Sales New York News Northeast

PGIM Buys The Arbor in The Bronx for $73.5M

by Lynn Peisner June 3, 2026

NEW YORK CITY — PGIM, the investment management business of Prudential Financial (NYSE: PRU), has acquired The Arbor, a 127-unit community in the Riverdale neighborhood of the Bronx for approximately $73.5 million. The transaction marks the 10th acquisition with the PGIM Real Estate Fund. PGIM partnered with Fetner Properties in the deal through a sale and leaseback with the seller, Columbia University. To date, PGIM has deployed $260 million through the fund, representing approximately $632 million in gross property value.

June 3, 2026

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