Investment Sales

Reflections-Virginia-Beach
Investment SalesNewsSoutheastVirginia

HGI Buys Virginia Beach Property for $86 Million

by Lynn Peisner

VIRGINIA BEACH, VA. — Affiliates of Harbor Group International (HGI) have acquired Reflections at Virginia Beach for $86 million. The 480-unit garden-style property was built in 1986 and spans 19 two- and three-story buildings across 30 acres. Units are offered as one- and two-bedroom floor plans. The seller was not disclosed. A $7 million renovation was recently completed at Reflections at Virginia Beach, updating amenities including a clubhouse, an outdoor pool, a 24-hour fitness center, a business center with meeting rooms and outdoor grilling stations. HGI is headquartered in Norfolk, …

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The-Quincy-at-Kierland-Scottsdale
ArizonaInvestment SalesNewsWestern

Stockdale Capital Partners Acquires Property in Scottsdale

by Lynn Peisner

SCOTTSDALE, ARIZ. — Stockdale Capital Partners, a Los Angeles-based private equity firm, has acquired The Quincy at Kierland in Scottsdale in an all-cash transaction. The sales price was not disclosed. The seller was EMBREY, the merchant developer that completed construction in 2024. The property is located at 15826 N. Scottsdale Road in the 730-acre master planned community of Kierland. The Quincy at Kierland features a mix of one- and two-bedroom units with stainless steel appliances and washers and dryers. Amenities include a resort-style pool with a pool house and fireside …

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Provenza-St.-Pete
BerkadiaFloridaInvestment SalesNewsSoutheast

Berkadia Arranges $70 Million Sale in St. Petersburg, Florida

by Lynn Peisner

ST. PETERSBURG, FLA. — Berkadia has arranged the sale of Provenza at St. Pete, which Houston-based Hilltop Residential has acquired and rebranded Palmera Gateway. Momentum Real Estate Partners of Miami was the seller. The Tampa Bay Business Journal reports the asset traded for approximately $70.3 million. The 308-unit property, 95 percent occupied at the time of sale, was built in 2014 in the Carillon Park mixed-use master-planned development. The garden-style community offers a mix of one-, two- and three-bedroom units ranging from 655 to 1,376 square feet with attached and …

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Ravello-Stonebriar-Frisco
Investment SalesNewsTexas

TruAmerica Buys Ravello Stonebriar in Frisco

by Lynn Peisner

FRISCO, TEXAS — TruAmerica has acquired the 216-unit Ravello Stonebriar in the southwest Frisco master-planned community of Stonebriar. The seller was not disclosed, but the property website indicates a former owner was North American Properties. Built in 2018, Ravello Stonebriar features resort-style amenities, including an integrated smart-home access control system. CBRE’s Daniel Baker, Kevin O’Boyle and Chandler Sims represented the seller in the transaction.

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Davis-Gardens-Pensacola
BerkadiaFloridaInvestment SalesNewsSoutheast

Berkadia Brokers Sale of Two Pensacola Properties

by Lynn Peisner

PENSACOLA, FLA. — Berkadia has arranged the sale of Atwood Oaks and Davis Gardens, two vintage communities totaling 211 units approximately 2 miles apart in Pensacola. Atlanta-based Tioga Capital acquired the 136-unit Atwood Oaks, while an undisclosed LLC out of Cantonment, Florida, purchased the 75-unit Davis Gardens. Berkadia’s David Etchison and Andrea Kendrick led the transaction. Built in 1972, Atwood Oaks at 1857 Atwood Drive comprises  one- and two-bedroom units and such amenities as a pool, a dog park, a courtyard and on-site maintenance. Completed in 1985, Davis Gardens at …

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Atrium-Garden-San-Jose
CaliforniaInvestment SalesNewsWestern

Atrium Garden in San Jose Sells for $18.5 Million

by Lynn Peisner

SAN JOSE, CALIF. — Marcus & Millichap has brokered the sale of Atrium Garden in San Jose for $18.5 million. Neither the buyer’s nor the seller’s identity was disclosed. The 160-unit property offers furnished studio units aimed at short-term rentals for tech-industry workers. Constructed in 2000, Atrium Garden is a four-story building with 159 studios and a one-bedroom manager’s apartment. Studios are furnished with a bed, bedside table and lamp, a lounge chair, a built-in desk and chair, a television, microwave, mini-refrigerator and a stove or hotplate. Amenities include a …

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9733-Topanga-Canyon-Los-Angeles
CaliforniaInvestment SalesNewsWestern

Amoroso Cos. Buys Topanga Canyon Asset in Los Angeles for $44 Million

by Lynn Peisner

LOS ANGELES — Institutional Property Advisors (IPA) has arranged the sale of and acquisition financing for 9733 Topanga Canyon, a 119-unit property in the Chatsworth neighborhood of Los Angeles. The property sold for $44 million, which represents $369,748 per unit. IPA also arranged $27.4 million in agency financing. The asset, developed in 2009, was acquired by Amoroso Cos. to satisfy a 1031 exchange. The seller was an unnamed private multifamily investment firm. Kevin Green, Joseph Grabiec and Gregory Harris arranged the sale on behalf of the seller, while Brian Eisendrath …

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Kromer-Portfolio-Reno
CaliforniaInvestment SalesNewsWestern

Hamilton Zanze Buys Reno Portfolio

by Lynn Peisner

RENO, NEV. — Marcus & Millichap has arranged the sale of the Kromer Portfolio made up of three metro Reno properties. The properties are Village of the Pines, a 272-unit asset completed in 1974; Sand Pebble-Spanish Oaks, a 448-unit property constructed in 1983; and the 328-unit Lakeview, built in 1979. Ken Blomsterberg, Ryan Rife and Daniel Winrod of Marcus & Millichap’s Reno office represented the buyer, Hamilton Zanze. The seller was Kromer Investments. Village of the Pines spans approximately 10 acres and offers one-, two- and three-bedroom units with a …

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Springfield-Apartments-Durham
Investment SalesNewsNorth CarolinaSoutheast

RailField Buys Research Triangle Property

by Lynn Peisner

DURHAM, N.C. — RailField has acquired Springfield Apartments, a 288-unit garden-style property in Durham. The seller and sales price were not disclosed. Amenities include a resort-style pool with grilling stations, a fenced dog park, a renovated fitness center, a game room and a car care center. The property was purchased via RailField’s RG Value Add Fund, a joint venture with alternative-asset investment firm GCM Grosvenor.  

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Low-Line-Commons-Chicago
IllinoisInvestment SalesMidwestNews

Highland Real Estate Partners Buys Low-Line Commons in Chicago

by Lynn Peisner

CHICAGO — Highland Real Estate Partners has acquired Low-Line Commons, a 95-unit building in Chicago’s Lakeview neighborhood. The seller was a joint venture between Wildwood Investments and Contemporary Concepts. Interra Realty brokered the sale. The property was 98 percent occupied at the time of the sale. Located at 3431-49 N. Ashland Ave., Low-Line Commons, built in 2024, features three studio, 27 one-bedroom, 42 two-bedroom and 23 three-bedroom apartments. Amenities include a lounge, coworking space, a fitness center, storage lockers, a pickleball court and a rooftop deck.

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