WESTFORD, MASS. — Adirondack Capital Partners has negotiated the sale of Abbot Mill, a 234-unit property in the northwestern Boston suburb of Westford. Aker purchased the asset from an undisclosed local developer for $102.5 million. Michael Hunter Coghill and David Johnson of Adirondack Capital Partners brokered the deal. Abbot Mill is the first phase of the redevelopment of a historic mill, which was originally built in the 1870’s, according to Apartments.com. The community offers one- and two-bedroom apartments. Amenities include a fitness center, business center, clubhouse and a lounge.
AUSTIN, TEXAS — Northmarq has negotiated $23.6 million in acquisition financing for The District at SoCo, a 215-unit property located near Austin’s downtown area. Located at 501 E. Oltorf Street, The District at SoCo offers amenities such as a pool, fitness center, dog park, outdoor kitchen and Amazon package lockers. Jesse Lemos of Northmarq’s Nashville Debt and Equity team brokered the loan through the company’s in-house Fannie Mae team. The loan was structured on a 5-year term. The borrower was not disclosed.
NEW YORK CITY — Marcus & Millichap has brokered the sale of 194 East 2nd Street, a 62-unit community in the East Village neighborhood of Manhattan. Skyline Developers sold the asset to Benchmark Real Estate Group for $43 million. Skyline Developers originally bought the community in 2000. Joe Koicim, Logan Markley and Matt Berger of Marcus & Millichap represented the seller and procured the buyer in the deal. 194 East 2nd Street comprises 77,000 square feet, including 10,000 square feet of ground floor retail space. The unit mix includes four …
HOBOKEN, N.J. — Marcus & Millichap has brokered the $6.1 million sale of a building located at 202-204 Hudson Street in Hoboken’s downtown area. Devin Perez, Brent Hyldahl and Alan Cafiero of Marcus & Millichap represented the seller and procured the buyer, a private investor, in the deal. Both parties requested anonymity. The property offers 13 apartments, as well as two ground-floor retail spaces. The retail spaces are currently leased to Jersey Mike’s Subs and J & J Body Works.
TAMPA, FLA. — JPM Institutional Multifamily has brokered the sale of The Marquis of Tampa, a 357-unit community in Tampa. The Marquis of Tampa was built in 1998. The community features town-home style units in one-, two-, three- and four-bedroom layouts. The average unit size is 1,199 square feet. Amenities include two pools with sundecks, fitness center, business center, theater room and package lockers. Axonic Properties was the seller. The property will be rebranded as Windsor Highwoods Preserve.
PHOENIX — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale and financing of Citra, a 72-unit property in Phoenix. Apartment Ventures acquired the community from Investors Capital Group. Citra was built in 2005 and offers two-bedroom apartments. The average unit size is 1,068 square feet. Amenities include covered parking, a fitness center and a pool with a spa. IPA’s Steve Gebing and Cliff David, in conjunction with Paul Bay, Darrell Moffitt and Adam Saylor of Marcus & Millichap, represented the seller and procured the …
VANCOUVER, WASH. — A real estate fund managed by Kennedy Wilson has partnered with Haseko Corp. to purchase two communities in Vancouver for $90 million. The two properties — The Farmstead and Villas at 28th Street — total 350 units altogether. Both communities feature amenities such as gated access, fitness centers, dog parks, a pickleball court, pet wash stations, green spaces and walking trails. According to Apartments.com, The Farmstead offers one-, two- and three-bedroom layouts. Villas at 28th Street offers studio, one- and two-bedroom floor plans.
ORADELL, N.J. — SAGE Investment Real Estate Advisors has arranged the sale of a 24-unit property in the New York City suburb of Oradell. The building was constructed in the 1960s and features units in one- and two-bedroom layouts. Greg Pine and Steve Tragash of SAGE represented the seller, an entity doing business as Oradell Associates LLC, in the deal. Pine and Tragash also procured the buyer, an undisclosed private investor.
RENTON, WASH. — New York Life Real Estate Investors (NYLREI) has divested of 2000 Lake Washington, a 186-unit community located at 1300 N. 20th Street in the southeast Seattle suburb of Renton. The asset traded hands for $53.2 million. 2000 Lake Washington was built in 1986 and renovated in 2016. The property offers one- and two-bedroom apartments that average 706 square feet. Units feature in-unit washers/dryers and a balcony or patio. Community amenities include a fitness center, dog park, business center, clubhouse, outdoor pool, sauna and electric vehicle chargers. Eli Hanacek, …
CINCINNATI — BWE has provided a $14.5 million Fannie Mae loan for the acquisition of Page Tower, a 169-unit affordable housing complex in Cincinnati. BWE’s Victor Agusta originated the loan, which features a seven-year term, 24 months of interest-only payments and a 35-year amortization. The property includes a 100 percent Section 8 HAP contract for four years. Page Tower was constructed in 1971. The building rises 14 stories and offers amenities such as a community room, mail room and central laundry area. The property also includes 7,500 square feet of …
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