Wednesday, October 23, 2024
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Investment Sales

The Marquis of Tampa in Tampa, Florida
FloridaInvestment SalesNewsSoutheast

JPM Brokers Sale of 357-Unit The Marquis of Tampa in Tampa, Florida

by Channing Hamilton

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.

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Citra in Phoenix
ArizonaFinanceInvestment SalesNewsWestern

Institutional Property Advisors Brokers Sale of 72-Unit Citra in Phoenix

by Channing Hamilton

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 …

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Villas at 28th Street in Vancouver, Washington
Investment SalesNewsWashingtonWestern

Kennedy Wilson, Haseko Acquire Two Properties in Vancouver, Washington, for $90 Million

by Channing Hamilton

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.

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Investment SalesNew JerseyNewsNortheast

SAGE Brokers Sale of 24-Unit Property in Oradell, New Jersey

by Channing Hamilton

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.

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2000 Lake Washington in Renton, Washington
Investment SalesNewsWashingtonWestern

NYLREI Sells 186-Unit 2000 Lake Washington Near Seattle for $53.2 Million

by Channing Hamilton

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, …

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FinanceInvestment SalesMidwestNewsOhio

BWE Provides $14.5 Million Acquisition Loan for Affordable Page Tower in Cincinnati

by Channing Hamilton

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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Crossroads Apartments in West Valley City, Utah
Investment SalesNewsUtahWestern

Institutional Property Advisors Brokers Sale of Crossroads Apartments Near Salt Lake City

by Channing Hamilton

WEST VALLEY CITY, UTAH — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale and financing of Crossroads Apartments, a 240-unit asset in the Salt Lake City suburb of West Valley City. Crossroads Apartments was constructed in 1986 on more than 10 acres. The property offers one- and two-bedroom apartments with walk-in closets, storage rooms and a patio or balcony. Community amenities include a pool, children’s playground, basketball and tennis courts, picnic area and clubhouse. IPA’s Brock Zylstra and Danny Shin represented the seller, The …

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Park on Voss in Houston
FinanceInvestment SalesNewsTexas

BridgeInvest Provides $55.5 Million Loan for Park on Voss in Houston

by Channing Hamilton

HOUSTON — BridgeInvest has provided a $55.5 million in financing to Tara Capital for the acquisition and renovation of Park on Voss, an 810-unit community in Houston. Park on Voss is located at 2424 S. Voss Road in the city’s Westchase neighborhood. The asset comprises 610,950 square feet and offers studio, one- and two-bedroom units. CBRE arranged the loan. The new owner plans to renovate 610 apartments, as well as upgrade the remaining 200 units, which have already undergone a recent renovation. The loan will also be used to install …

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BerkadiaInvestment SalesNew JerseyNewsNortheast

Berkadia Brokers $4.8 Million Sale of Marlaw Apartments in Elizabeth, New Jersey

by Channing Hamilton

ELIZABETH, N.J. — Berkadia has negotiated the $4.8 million sale of Marlaw Apartments, a 36-unit community in the New York City suburb of Elizabeth. Nat Gambuzza, Trevor Fiebel, Tim Blashford and Nick Balancia of Berkadia represented the seller and procured the buyer in the deal. Both parties requested anonymity. Marlaw Apartments comprises one studio, 17 one-bedroom and 18 two-bedroom units. The property was fully occupied at the time of sale.

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45-40 Vernon Blvd. in New York City
DevelopmentInvestment SalesNew YorkNewsNortheast

JLL Brokers $47 Million Sale of 192,000-Square-Foot Development in Queens

by Channing Hamilton

NEW YORK CITY — JLL has brokered the $47 million sale of a development site located at 45-40 Vernon Blvd. in the Long Island City neighborhood of Queens. The site, which formerly housed the Paragon Paint factory, is approved for the development of a 192,000-square-foot community. Once completed, the complex will comprise 202 units across 21 stories. Brendan Maddigan, Rob Hinckley, Michael Mazzara, Ethan Stanton, Winfield Clifford and Vickram Jambu of JLL arranged the deal. The seller was a joint venture between Quadrum Global, Baron Property Group and Simon Development. …

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