Investment Sales

Institutional Property Advisors Brokers Sale of 384-Unit Houston Asset

by Channing Hamilton February 14, 2025

HOUSTON — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of The Park at San Marino, a 384-unit community in Houston. Built in 1984 in 13 acres, the property features amenities such as multiple pools, laundry facilities, a gym and monthly planned social activities. The average unit size is 852 square feet. TPCG Park at San Marino LLC purchased the community from Woodbridge Crossing Property Holdings II LLC for an undisclosed price. Greg Austin, Travis Austin, Will Balthrope of IPA and Kyle Devillier of Marcus …

February 14, 2025

Rancho Vista Apartments in Ontario, California

California Investment Sales News Western

Convenient Holdings Buys Property in Ontario, California, for $46.3 Million

by Channing Hamilton February 14, 2025

ONTARIO, CALIF. — Convenient Holdings has acquired Rancho Vista Apartments, a 125-unit community in Ontario, roughly 40 miles east of Los Angeles. Clear Capital sold the asset for $46.3 million. Built in 1984, Rancho Vista Apartments features two- and three-bedroom floor plans. The average unit size is 1,022 square feet. Amenities include a pool, cardio and weight training center, picnic area with barbeque grills, gated access and on-site maintenance. Alexander Garcia, Kyle Pinkalla, Chris Zorbas, Kevin Green, Joseph Grabiec and Gregory Harris of Institutional Property Advisors, a division of Marcus …

February 14, 2025

Affordable Housing Finance Investment Sales News Northeast Pennsylvania

Lument Provides $24.8 Million Acquisition Loan for Affordable Housing Asset in Levittown, Pennsylvania

by Channing Hamilton February 13, 2025

LEVITTOWN, PA. — Lument has provided a $24.8 million Freddie Mac acquisition loan for an affordable housing complex in Levittown, approximately 27 miles northeast of Philadelphia. The property was completed in 1972 and offers amenities such as clubhouse, fitness center, playground and outdoor grilling stations. The name of the asset was not disclosed. The buyer was an affiliate of New Jersey-based owner-operator Silverstein Properties. John Hurley of Lument originated the financing, which carried a five-year term and a 35-year amortization schedule, on behalf of the buyer. Zach Schwartz of Brook …

February 13, 2025

Company News Investment Sales News People News Texas

Franklin Street Launches Multifamily Investment Sales Division in Austin, Texas

by Channing Hamilton February 13, 2025

AUSTIN, TEXAS — Franklin Street, a commercial real estate services firm based in Tampa, has launched a multifamily investment sales division for Texas markets. Patrick Strake will lead the new business unit, which will operate as a seven-person team from Franklin Street’s existing office in Austin. The Austin office opened approximately a year ago and now consists of roughly 20 professionals who also offer services for land, office and industrial verticals.

February 13, 2025

Haven Hoffman Estates in Hoffman Estates, Illinois

Illinois Investment Sales Midwest News

Eastham Capital, Bender Cos. Purchase Asset Near Chicago for $75.8 Million

by Channing Hamilton February 12, 2025

HOFFMAN ESTATES, ILL. — Eastham Capital and Bender Cos. have acquired Haven Hoffman Estates, a 550-unit property in Hoffman Estates, 33 miles west of Chicago. The asset traded hands for $75.8 million. The identity of the seller was not disclosed. Eastham Capital obtained a majority interest in the deal through its current fund, Eastham Capital Fund VI LP. Bender Cos. will oversee the day-to-day management of the property. Built in 1970, the property offers amenities such as a pool, clubhouse, fitness center, work-from-home suites and an outdoor dining area. The …

February 12, 2025

Arizona Investment Sales News Western

Goodman Real Estate Purchases Community in Phoenix for $131 Million

by Channing Hamilton February 12, 2025

PHOENIX — Goodman Real Estate has acquired Town Deer Valley, a 388-unit community in Phoenix, for $131.1 million. Built in 2024 on 18 acres, Town Deer Valley offers amenities such as a 5,900-square-foot clubhouse with arts and crafts room, poker room and sundry shop. Residents also have access to a 3,800-square-foot fitness center and a pool. The average unit size is 1,004 square feet. The seller was a joint venture between The Related Group and Rockpoint. Cliff David and Steve Gebing of Institutional Property Advisors, a division of Marcus & …

February 12, 2025

Arizona Investment Sales News Western

Goodegg Investments Purchases 71-Unit Asset in Phoenix

by Channing Hamilton February 10, 2025

PHOENIX, ARIZ. — Goodegg Investments has purchased North Edge Apartments, a 71-unit community in Phoenix, for an undisclosed price. According to Apartments.com, the property was completed in 1979 and consists entirely of one-bedroom units. Most of the apartments, as well as common areas, were renovated within the last 2 years. North Edge Apartments is the 38th multifamily community that Goodegg Investments has acquired since the company’s inception in 2018. The San Francisco, California-based firm now owns approximately 9,000 apartments, with roughly 4,500 currently under management.

February 10, 2025

Investment Sales News Southeast Tennessee

IPA Arranges $52 Million Sale of Stonehenge Near Nashville, Tennessee

by Channing Hamilton February 10, 2025

LEBANON, TENN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Stonehenge, a 228-unit community in Lebanon, about 20 miles east of Nashville. The asset traded hands for $52 million. The buyer and seller were not disclosed. Built on a 13-acre site in 2023, Stonehenge offers units ranging from one- to three-bedrooms. Amenities include a saltwater pool, clubhouse, fitness center and entertainment lounge. David Stollenwerk, Will Balthrope and Drew Garza of IPA represented the seller and procured the buyer in the transaction. Additionally, …

February 10, 2025

Investment Sales News Texas

ShainRealty Capital Buys 226-Unit Complex in Dallas for $39.5 Million

by Channing Hamilton February 10, 2025

DALLAS — Los Angeles-based investment firm ShainRealty Capital has purchased Yorktown Luxury Apartments, a 226-unit property located in the Kessler Park neighborhood of Dallas. Nuveen Real Estate sold the asset for $39.5 million. Eric Calub, Caleb Jones and Paul Harris of Berkadia arranged the transaction. Built in 2016, the property offers studio, one-, two- and three-bedroom units and amenities such as a pool, lounge and outdoor grilling and dining stations. The new ownership will make capital improvements and has rebranded the property as Infinity on Yorktown. Arbor Realty Trust provided …

February 10, 2025

Investment Sales Midwest Minnesota News

Marcus & Millichap Brokers $7.3 Million Sale of Property in Coon Rapids, Minnesota

by Channing Hamilton February 7, 2025

COON RAPIDS, MINN. — Marcus & Millichap has arranged the $7.3 million sale of Crest Oak Apartments, a 60-unit property in Coon Rapids, roughly 15 miles north of Minneapolis. Built in 1972, Crest Oak Apartments offers a mix of one-, two- and three-bedroom units across 47,150 rentable square feet. Abe Roberts and Michael Jacobs of Marcus & Millichap represented the seller, which was disposing of a four-building portfolio. The asset sold to a 1031 exchange buyer.

February 7, 2025

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