Tuesday, October 22, 2024
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Investment Sales

Toscana Apartment Homes in Austin, Texas
Affordable HousingInvestment SalesNewsTexas

Comunidad Partners Acquires 358-Unit Toscana Apartment Homes in Austin, Texas

by Channing Hamilton

AUSTIN, TEXAS — Locally-based investment firm Comunidad Partners has acquired Toscana Apartment Homes, a 358-unit affordable housing community in Austin. Toscana Apartment Homes was built in 2001. The property is reserved for households earning between 60 and 120 percent of the area median income. Units come in one-, two-, and three-bedroom floor plans. Amenities include a pool, playground and a pet park. Comunidad Partners plans to implement a capital improvement program that elevates common areas and living spaces, including installing a pickleball court and adding private yards. The seller and …

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Buckley Apartments in Plano, Texas
Investment SalesNewsTexas

Rosewood Property Co. Breaks Ground on 338-Unit Buckley Apartments in Plano, Texas

by Channing Hamilton

PLANO, TEXAS — Rosewood Property Co. has begun construction on The Buckley, a 338-unit community in the northern Dallas suburb of Plano. The Buckley is the sister property of The Ludlow, which began leasing in September 2023. Both properties are located within the 156-acre Heritage Creekside master-planned development. The Buckley will offer studio, one-, two- and three-bedroom units. Amenities include a pool, multiple lounge areas, a club and card room, fitness center, coworking areas and a dog park. MetLife Investment Management is the equity partner for the development. Broadway Bank …

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Investment SalesNewsTexas

The Multifamily Group Brokers Sale of 100-Unit The Regency in Paris, Texas

by Channing Hamilton

PARIS, TEXAS — Dallas-based brokerage firm The Multifamily Group has brokered the sale of The Regency, a 100-unit community in Paris, approximately 100 miles northeast of Dallas. Yonnic Land of TMG represented the seller and procured the buyer in the deal. Both parties requested anonymity. The Regency was built in 1985. The community offers one-, two- and three-bedroom units. Amenities include a pool, onsite laundry facilities and outdoor grilling and dining stations.

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Ryan Duling, senior managing director, Lucent
DevelopmentFinanceInvestment SalesMarket ReportsMidwestOhio

Why Columbus is a Hidden Gem

by Channing Hamilton

­Contrary to popular belief, not everyone seeking a better lifestyle moves to Atlanta or Houston. If you live in the Midwest, Columbus has become a prime destination, especially for young people.  The metro has a reputation for being more modern, cosmopolitan and affordable than its other Ohio peers like Cincinnati and Cleveland. U.S. News & World Report ranks Columbus among the top 30 “Most Fun Places to Live in the United States.”  Then it should come as no surprise that according to a new Bank of America report, Columbus tied with Austin …

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Amavida Marana in Marana, Arizona
ArizonaInvestment SalesNewsWestern

Ascent Cos., Vanderbuild Open 200-Unit Amavida Marana Near Tucson, Arizona

by Channing Hamilton

MARANA, ARIZ. — Ascent Cos. and Vanderbuild have opened Amavida Marana, a 200-unit community in Marana, 20 miles northwest of Tucson, Arizona. Located at 5555 W. Ina Road, Amavida Marana offers one-, two- and three-bedroom floor plans. Amenities include a four-acre community park, four pickleball courts, a playground, a walking and jogging loop, dog park, EV chargers, an indoor/outdoor fitness center, pool, hot tub, pet washing stations and a clubhouse. Bryten Real Estate Partners is the property manager.

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Corona Del Sol in Phoenix
ArizonaInvestment SalesNewsWestern

JLL Arranges $12.6 Million Sale of 64-Unit Corona Del Sol in Phoenix

by Channing Hamilton

PHOENIX — JLL has brokered the sale of Corona Del Sol, a garden-style community located at 27 E. Corona Ave. in Phoenix. Corona Del Sol was built in 1985. The property features 64 apartments with an average size of 880 square feet. The community was 97 percent leased at the time of sale. KDF Communities purchased the asset from a private high-net-worth seller for $12.6 million. Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke of JLL Capital Markets represented the seller and procured the buyer in the deal.

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Aspire Apartments in Denton, Texas
Investment SalesNewsTexas

SPI Advisory Acquires Two-Property Portfolio in Denton, Texas

by Channing Hamilton

DENTON, TEXAS — Dallas-based private equity firm SPI Advisory has acquired a portfolio of two multifamily properties totaling 248 units in the northern Dallas suburb of Denton. The two properties are Lana Apartments and Aspire Apartments. Mark Allen of GREA represented the seller, Legacy REI, in the transaction. Fritz Waldvogel of Colliers Mortgage originated an undisclosed amount of Fannie Mae acquisition financing for the deal. Lana Apartments was originally constructed in 1981. The garden-style community features 116 apartments. Aspire Apartments comprises 132 units. The property was built in 1970 and …

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Investment SalesNewsTexas

Marcus & Millichap Arranges Sale of 120-Unit Serena Vista in Arlington, Texas

by Channing Hamilton

ARLINGTON, TEXAS — Marcus & Millichap has brokered the sale of Serena Vista, a 120-unit complex in Arlington, 21 miles west of Dallas. Green Mountain Properties LLC purchased the asset from an undisclosed private investment group. Nick Fluellen, Bard Hoover and Chris Pearson of Marcus & Millichap represented the seller and procured the buyer. Serena Vista was built in 1980. The property offers studio, one-, two- and three-bedroom units. Amenities include a pool, fitness center, clubhouse and a dog park. 

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105 Grove St. in Elizabeth, New Jersey
Investment SalesNew JerseyNewsNortheast

SAGE Brokers $4.2 Million Sale of 31-Unit Property in Elizabeth, New Jersey

by Channing Hamilton

ELIZABETH, N.J. — SAGE Investment Real Estate Advisors (SAGE) has arranged the sale of a 31-unit property located at 105 Grove St. in the Elmora neighborhood of Elizabeth. Built in 1927, 105 Grove St. offers exclusively one-bedroom units. The asset traded for $4.2 million. Steve Tragash of SAGE represented the seller, a private individual, and procured the buyer, a private investor.

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Crossroads Westside in Kansas City, Missouri
Investment SalesMidwestMissouriNews

Hamilton Zanze Acquires 222-Unit Crossroads Westside in Kansas City

by Channing Hamilton

KANSAS CITY, MO. — San Francisco-based investment firm Hamilton Zanze has purchased Crossroads Westside, a 222-unit community in downtown Kansas City, for an undisclosed price. Situated at 601 Avenida Cesar E Chavez, Crossroads Westside was built in 2018. Units come in one- and two-bedroom layouts and range from 614 square feet to 1,252 square feet. Amenities include a pool, dog spa, fitness center, sundeck, private art garden, business center, co-working spaces, fire pit, arcade and entertainment lounge. Mission Rock Residential, an affiliate of Hamilton Zanze, has assumed management of the …

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