Investment Sales

2500 Cedar Springs Road in Dallas

DALLAS — Lincoln Property Co. has acquired a four-acre site at 2500 Cedar Springs Road in Dallas’s Uptown neighborhood. The firm plans to develop a mixed-use community featuring 250 apartments, as well as 400,000 to 500,000 square feet of office space, a 200-room hotel, 25,000 square feet of food-and-beverage retail space and green spaces. A development timeline for the project was not disclosed. Lincoln Property Co. will handle leasing for the project in-house, with Jake Young and Worthey Wiles leading the effort.

0 FacebookTwitterLinkedinEmail

TUCSON, ARIZ. — Cushman & Wakefield | PICOR has brokered the sale of Alamo Apartments, a 20-unit building in Tucson. Alamo Apartments is located at 824 E. 10th Street and comprises 11,189 square feet. The Twenty Lofts on Tenth LLC acquired the asset from Euclid 35 LLC for $2 million. Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR represented both the seller and buyer in the transaction.

0 FacebookTwitterLinkedinEmail

NEW YORK CITY — Ariel Property Advisors has negotiated a $25.3 million loan for the refinancing of an 82-unit building on Manhattan’s Upper West Side. The property is situated at 120-125 Riverside Drive. An undisclosed, out-of-state bank provided the five-year, fixed-rate loan, which was structured with two years of interest-only payments and a 60 percent loan-to-cost ratio. The borrower plans to use the proceeds to fund capital improvements to the property. Matt Dzbanek and Matt Swerdlow of Ariel Property Advisors led the transaction.

0 FacebookTwitterLinkedinEmail
Effingham Green Condos in Portsmouth, Virginia

PORTSMOUTH, VA. — Marcus & Millichap has brokered the sale of Effingham Green Condos, a 17-unit property in Portsmouth. Nouveux Effingham LLC purchased the community from Capps Equity LLC for $2.4 million. Justin Ferguson, Altay Uzun, Theo Jolley and Jack Carroll of Marcus & Millichap marketed the property on behalf of the seller and procured the buyer. Situated at 1007 Green Street, Effingham Green Condos was built in 1987 on a two-acre site. The property features 17 two-bedroom units across two buildings.

0 FacebookTwitterLinkedinEmail

HOUSTON — Marcus & Millichap has brokered the sale of Rosslyn Heights Apartments, a 60-unit complex in Houston. Rosslyn Heights Apartments was built in 1985. The property offers two-bedroom units and amenities such as a playground. Kyle Devillier, Gregory Austin, Travis Austin and Jackson Hart of Marcus & Millichap represented the seller and procured the buyer in the deal. Both parties were limited liability companies that requested anonymity.

0 FacebookTwitterLinkedinEmail

IRVING, TEXAS — Colliers Mortgage has provided a Fannie Mae acquisition loan for Landen Apartment Homes in Irving. Fritz Waldvogel of Colliers Mortgage originated the loan, which features a five-year term, through a partnership with Old Capital Lending. The borrower was an entity doing business as NH Investments LAH LLC. Landen Apartment Homes comprises 134 units across four two-story buildings. Units come in studio, one-, two- and three-bedroom floor plans. Amenities include a pool, playground and outdoor kitchen and grilling stations.

0 FacebookTwitterLinkedinEmail
The Westcott in Swampscott, Massachusetts

Boston is a famously difficult place to build or buy new apartments. Developers often spend years searching for a suitable site and gaining approvals from municipalities prior to construction.  In the development boom that peaked in 2022, just on the heels of the coronavirus pandemic, developers started construction on hundreds of thousands of new apartments across the country — the largest amount of new construction in decades. In Boston, developers started tens of thousands of new apartments. It’s a lot of new construction, but it’s still less than Boston developers …

0 FacebookTwitterLinkedinEmail
Domain at Midtown Park in Dallas

DALLAS — A partnership consisting of investment firms Waterford Property Co., The Vistria Group and Northern Liberties has acquired Domain at Midtown Park, a 395-unit community in North Dallas. Walker & Dunlop originated Freddie Mac acquisition financing for the deal. Built in 2016, Domain at the Park offers amenities such as a pool, clubhouse, fitness center, business center, outdoor grilling and dining stations, dog park and a golf simulator. Concurrent with the sale, the new owners also entered into a 99-year ground lease with the Dallas Housing Finance Corp. to …

0 FacebookTwitterLinkedinEmail

NEW YORK CITY — Rosewood Realty Group has negotiated the sale of a 29-unit property located at 407 W. 205th Street in Manhattan’s Inwood neighborhood. Gilman Management purchased the building from family office Ramer & Saperstein for $2 million. Ben Khakshoor, Aaron Jungreis and Alex Fuchs of Rosewood represented both the buyer and the seller in the deal. The asset traded at a cap rate of 7.8 percent. The building rises five stories and was originally built in 1911.

0 FacebookTwitterLinkedinEmail

KINGWOOD, TEXAS — InterUrban Cos. has sold Woodland Hills Village, a 260-unit complex located in Kingwood, a master-planned development north of Houston. The property offers one-, two- and three-bedroom units. Amenities include a pool and fitness center. The buyer, an undisclosed Dallas-based investment firm, plans to implement a value-add program. Kyle Whitney, Chris Young, Joey Rippel and Jeffrey Skipworth and Chris Curry of Berkadia represented InterUrban Cos. in the deal.

0 FacebookTwitterLinkedinEmail