Investment Sales

East Rutherford
Investment SalesNew JerseyNewsNortheast

Tag Investment Properties Sells New Jersey Portfolio for $94 Million

by Channing Hamilton

NEW JERSEY — Tag Investment Properties has sold a portfolio totaling 519 units throughout Bergen and Hudson counties in New Jersey for $94 million. The properties were constructed between 1920 and 1980. The unit mix includes 61 percent one-bedroom, 35 percent two-bedroom and the remaining units as studios and three-bedroom apartments. Tuli Realty acquired the properties located in East Rutherford, Cliffside Park, Palisades Park, Lyndhurst, Garfield and Jersey City, while Sher Management purchased an asset in Kearny. The portfolio was 97 percent occupied at the time of sale. Cushman & …

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Investment SalesNewsTexas

TMG Arranges Sale of 52-Unit Complex in Paris, Texas

by Channing Hamilton

PARIS, TEXAS — Dallas-based brokerage firm The Multifamily Group (TMG) has arranged the sale of The Gardens Apartments, a 52-unit community in Paris, roughly 115 miles northeast of Dallas. The asset was built in 1970 and expanded in 2017, and unit interiors were recently upgraded. According to Apartments.com, units come in one-, two- and three-bedroom floor plans. Yonnic Land of TMG represented the seller and procured the buyer in the transaction. Both parties requested anonymity.

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Riverwood Apartments
Investment SalesMidwestNewsWisconsin

CBRE Brokers Sale of Two Wisconsin Assets for $10.1 Million

by Channing Hamilton

MAUSTON AND RACINE, WIS. — CBRE has arranged the sale of Riverwood Apartments and Biscayne Apartments, two communities totaling 112 units, for $10.1 million. An Iowa-based multifamily investor and developer purchased the assets from an Iowa-based multifamily investor. CBRE’s Max Colby, Sean Beuche, Matson Holbrook, Patrick Gallagher and Gretchen Richards represented the seller. Riverwood Apartments is located in Mauston, 70 miles northwest of Madison, Wisconsin. The property is situated just under two miles from Decorah Lake. Built in 1994, Riverwood Apartments consists of 32 units, which come in one-, two- …

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Executive Rental Apartments
FloridaInvestment SalesNewsSoutheast

Marcus & Millichap Brokers $8.1 Million Sale of Property in Hollywood, Florida 

by Channing Hamilton

HOLLYWOOD, FLA. — Marcus & Millichap has arranged the sale of Executive Rental Apartments, a 44-unit property in Hollywood, 20 miles north of Miami. The three-story building was built at 1715 North 16th Ave. in 1969. The community features an elevator, three laundry rooms and a pool. The unit mix includes one- and two-bedroom floor plans. Joseph Thomas, Alec Demetriou and Adam Marcuvitz of Marcus & Millichap’s Fort Lauderdale office marketed the property on behalf of the seller and procured the buyer. 

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The Colonial
Investment SalesMidwestNebraskaNews

Eastham Capital, Bender Cos. Acquire 258-Unit Asset in Omaha, Nebraska

by Channing Hamilton

OMAHA, NEB. — A joint venture between Eastham Capital and Bender Cos. has acquired The Colonial, a 258-unit community in Omaha. Eastham obtained a majority ownership in the deal through its current fund, Eastham Capital Fund VI LP. Bender, which has co-invested and partnered with Eastham on the project, will oversee the day-to-day management. Parker Stewart and Alex Malzone of Northmarq brokered the deal. The Colonial was built in 1967 and is currently 95 percent occupied. The average unit size is 902 square feet. Amenities include an outdoor pool, community …

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805 Harmon Heights Apartments & Condos
GeorgiaInvestment SalesNewsSoutheast

Marcus & Millichap Arranges $18.3 Million Sale of Property in Valdosta, Georgia

by Channing Hamilton

VALDOSTA, GA. — Marcus & Millichap has arranged the $18.3 million sale of 805 Harmon Heights Apartments & Condos, a 100-unit asset in the southern Georgia city of Valdosta. John Brigel of Marcus & Millichap’s Tampa office marketed the asset on behalf of the seller, Bobby Diaz, builder and operator of Diaz Construction LLC, and procured the undisclosed buyer from Tennessee. John Leonard is Marcus & Millichap’s broker of record in Georgia. Located at 805 Harmon Drive, the property consists of 113,600 square feet across nine buildings. Units come in …

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Polo Club Apartments
Investment SalesIowaMidwestNews

Greysteel Brokers $38 Million Sale of Property in West Des Moines

by Channing Hamilton

WEST DES MOINES, IOWA — Greysteel has negotiated the $38 million sale of Polo Club Apartments in West Des Moines. Built in 1998, the community consists of 277 two-bedroom units. BJ Connolly, Zach Schneider and Ryan Carter of Greysteel represented the seller, Polo Club LLC/Premier Cos, in the deal. The undisclosed buyer represented itself and plans to conduct a full renovation of the property.

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Cosmopolitan on the Canal
IndianaInvestment SalesMidwestNews

PRP Acquires Cosmopolitan on the Canal in Indianapolis

by Channing Hamilton

INDIANAPOLIS — PRP has purchased Cosmopolitan on the Canal, a 218-unit asset located in the Canal Walk District of downtown Indianapolis, for an undisclosed price. The property is situated in proximity to the $4.3 billion Indiana University Health expansion, as well as the Indiana University Indianapolis and Purdue University campuses. Cosmopolitan on the Canal was originally built in 2010. According to Apartments.com, the community features a mix of studio, one- and two-bedroom units. Amenities include fitness center, laundry facilities, a clubhouse, fitness center and lounge. PRP plans to renovate the property. The seller was not disclosed.

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The BW
CaliforniaInvestment SalesNewsWestern

FAMH Group Acquires The BW in Los Angeles for $58.1 Million

by Channing Hamilton

LOS ANGELES — FAMH Group Ltd. has acquired The BW, a 78-unit community located in the Brentwood neighborhood of Los Angeles, from California Landmark Group for $58.1 million. Kevin Green, Joseph Grabiec and Gregory Harris of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. The BW was completed in 2013. The community offers a mix of studio, one-, two- and three-bedroom units. Amenities include a rooftop lounge with a jacuzzi, fitness center, business center, electric vehicle charging stations and …

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FeaturesFinanceFrom the MagazinesInvestment SalesMidwestNortheastSoutheastTexasWestern

As Mortgage Rates Drop, Expect 1031 Exchange Deals to Pop

by Channing Hamilton

For most of 2024, relatively high property values combined with rising interest rates priced buyers out of the market for new commercial and residential real estate acquisitions.  This slowdown has not only impacted investors and homeowners, but it’s also affected the entire real estate industry — from lenders to appraisers, brokers, law firms, title insurance companies and beyond.  Because Section 1031 exchange activity moves in lockstep with the real estate investment cycle, activity for qualified intermediaries has slowed as well. Section 1031 exchanges traditionally have been used by investors to …

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