Investment Sales

The District in Little Elm in Little Elm, Texas

Institutional Property Advisors Brokers Sale of 324-Unit The District in Little Elm Near Dallas

by Channing Hamilton June 24, 2024

LITTLE ELM, TEXAS — Institutional Property Advisors has arranged the sale of The District in Little Elm, a community situated in Little Elm, 37 miles north of Dallas. The property features 324 units with 19 townhomes, as well as 11,272 square feet of retail. Apartments have wood-style flooring, pantries, washer and dryer connections and patios or balconies. The average unit size is 835 square feet. The District in Little Elm was built in 2023 on a 10-acre site. Amenities include controlled access, two pools, private work pods and EV charging …

June 24, 2024

Company News Development Georgia Investment Sales Leasing & Marketing News Southeast Student Housing

Argus Eyed Partners, Sierra Property Management Rebrand as AREY Group

by Channing Hamilton June 19, 2024

MACON, GA. — Argus Eyed Partners and Sierra Property Management have rebranded as AREY Group, a fully integrated real estate platform based in Macon, Georgia. The platform will be focused on development and acquisitions, and will also offer asset and property management services. AREY Group has completed over 2 million square feet of multifamily and commercial development on institutional campuses. The company has developed and manages over 2,000 units of conventional multifamily and student housing units across the Southeast.

June 19, 2024

Investment Sales News Northeast Pennsylvania

Hudson Atlantic Brokers $6 Million Sale of Garrett House Apartments Near Philadelphia

by Channing Hamilton June 18, 2024

DREXEL HILL, PA. — Matawan, New Jersey-based regional brokerage firm Hudson Atlantic has arranged the sale of Garrett House Apartments in the Philadelphia suburb of Drexel Hill. The property was built in 1960 and comprises 57 units. Apartments come in one-bedroom layouts. The original owner of the asset sold the property for $6 million. Neither party’s identity was disclosed. Adam Zweibel led the Hudson Atlantic team that brokered the deal.

June 18, 2024

Two Fourplexes on 22nd St. in Huntington Beach, California

California Investment Sales News Western

CBRE Brokers Sale of Two Fourplexes in Huntington Beach, California, for $5.4 Million

by Channing Hamilton June 18, 2024

HUNTINGTON BEACH, CALIF. — CBRE has arranged the sale of two properties in Huntington Beach: a fourplex at 321 22nd St. and the adjacent fourplex at 317 22nd St. Both assets sold for $2.7 million, resulting in a combined sales price of $5.4 million. Dan Blackwell and Mike O’Neill of CBRE represented both the buyer and seller in the two deals. The buyer was a private investor based in Westminster, California. The seller was based in Huntington Beach. Built in 1972, each of the two buildings spans 4,101 square feet. …

June 18, 2024

Investment Sales Louisiana News Southeast

Marcus & Millichap Brokers $11.6 Million Sale of 248-Unit Portfolio in Baton Rouge, Louisiana

by Channing Hamilton June 18, 2024

BATON ROUGE, LA. — Marcus & Millichap has brokered the $11.6 million sale of a portfolio in Baton Rouge. Granite Pelican Bay LLC purchased the assets from an entity doing business as 2121 Lobdell LLC. John Hamilton, Chris Shaheen, Will Balthrope and Drew Garza of Marcus & Millichap represented the seller and procured the buyer. The portfolio comprises 248 units across three properties, including: Howell Place, which is located at 4150 72nd Ave.; Pelican Bay at 2121 Lobdell Blvd.; and Pirates Bend at 8165 Plank Road. The communities were built …

June 18, 2024

Investment Sales Nevada News Western

Northmarq Brokers $52.7 Million Sale of Millennium East in Las Vegas

by Channing Hamilton June 17, 2024

LAS VEGAS — Northmarq has arranged the sale of Millennium East, a 236-unit community in Las Vegas’ Sunrise Manor area. A Massachusetts-based property manager sold the asset to a California-based real estate investment company for $52.7 million. Thomas Olivett of Northmarq’s Las Vegas multifamily investment sales team represented the seller in the deal. Bryan Mummaw, Bryan Liu, Brandon Harrington, Tyler Wood and Chris Gitibin of Northmarq’s debt and equity team secured $33.5 million in acquisition financing for the buyer. The permanent, fixed-rate loan was arranged through Freddie Mac. Millennium East …

June 17, 2024

Investment Sales News Northeast Pennsylvania

Hudson Atlantic Arranges Sale of Garrett House Apartments in Drexel Hill, Pennsylvania

by Channing Hamilton June 14, 2024

DREXEL HILL, PENN. — Hudson Atlantic has arranged the sale of Garrett House Apartments, a 57-unit community in the Philadelphia suburb of Drexel Hill. The property traded hands for $6 million at a 5.8 percent cap rate. Adam Zweibel of Hudson Atlantic negotiated the deal. Garrett House Apartments was built in 1960. According to Apartments.com, the community features an on-site laundry room and off-street parking.

June 14, 2024

Affordable Housing Colorado Investment Sales News Western

JLL Brokers $5.8 Million Sale of Affordable Housing Community in Eaton, Colorado

by Channing Hamilton June 14, 2024

EATON, COLO. — JLL Capital Markets has arranged $5.8 million in financing for Benjamin Square, a 60-unit affordable housing community in Eaton. Benjamin Square consists of 10 buildings. The property was completed in 1979 and 1980. Apartments come in one-bedroom layouts. Amenities include a laundry room, community lounge and covered gazebo. JLL represented the borrower, Brikwell, to secure the fixed-rate senior loan through Freddie Mac Multifamily. Brikwell was also able to renew and extend the community’s Project-Based Section 8 HAP contract prior to acquisition and loan closing, allowing the property to …

June 14, 2024

Florida Investment Sales News Southeast

S2 Capital Purchases 104-Unit Belle Rive Club Apartments in Jacksonville, Florida

by Channing Hamilton June 13, 2024

JACKSONVILLE, FLA. — S2 Capital has acquired Belle Rive Club Apartments, a 104-unit community located at 8715 Belle Rive Blvd. in the Royal Lakes neighborhood of Jacksonville. Belle Rive Club Apartments offers one- and two-bedroom floor plans. Amenities include a pool, grilling area, dog park, fitness center, clubhouse, car wash area and access to the nearby inland lakes. The name of the seller was not disclosed. S2 Capital acquired the asset alongside Vineyard Hills, a 202-unit community in Austin, Texas.

June 13, 2024

Investment Sales News Texas

S2 Capital Acquires 202-Unit Vineyard Hills in Austin, Texas

by Channing Hamilton June 13, 2024

AUSTIN, TEXAS — S2 Capital has purchased Vineyard Hills, a 202-unit property in southwest Austin, for an undisclosed price. Vineyard Hills is situated on a 11-acre site. Units come in one-, two- and three-bedroom floor plans. Community amenities include a pool, spa, dog park and outdoor grilling and dining stations. The identity of the seller was not disclosed. S2 Capital acquired the asset in conjunction with Belle Rive Club Apartments, a 104-unit complex in Jacksonville, Florida.

June 13, 2024

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