Investment Sales

The Waverly on the Lake in Belleville, Michigan
Investment SalesMichiganMidwestNews

Dwight Mortgage Trust Provides $88.5 Million Acquisition Loan for Community Near Detroit

by Channing Hamilton

BELLEVILLE, MICH. — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has provided an $88.5 million bridge acquisition loan for The Waverly on the Lake in Belleville, 30 miles west of downtown Detroit. Loan proceeds will facilitate the acquisition of the property, fund capital expenditures for unrenovated units and cover closing costs for Pepper Pike Capital Partners. David Scheer of Dwight originated the loan. The garden-style community consists of 1,046 apartments on a 99-acre site along the shores of Belleville Lake. Residents have access to a boat launch and …

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Investment SalesNewsTexas

AvalonBay Acquires Two Communities Near Austin for $193 Million

by Channing Hamilton

BEE CAVE AND GEORGETOWN, TEXAS — AvalonBay Communities, a multifamily REIT based in Arlington, Virginia, has agreed to acquire Cielo and Retreat at Wolf Ranch, two properties located near Austin, for a combined purchase price of $193 million. The seller is BSR REIT, and the deal is expected to close in late March. Cielo is a 554-unit community in Bee Cave, roughly 17 miles west of Austin. The property was constructed in 2015. Retreat at Wolf Ranch is located 30 miles north of Austin and was built in 2017. The …

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Highridge Apartments in Ranchos Palos Verdes, California
CaliforniaInvestment SalesNewsWestern

Bascom Acquires Community in Ranchos Palos Verdes, California, for $127 Million

by Channing Hamilton

RANCHO PALOS VERDES, CALIF. — The Bascom Group has acquired Highridge Apartments in Ranchos Palos Verdes, 30 miles south of Los Angeles, for $127 million. Built in 1972, the property features 257 apartments, as well as 28 loft-style units. The average unit size is 1,157 square feet. Tenants have access to amenities such as on-site parking, two pools and spas, two fitness centers, a tennis court and a clubhouse. The complex has undergone significant upgrades and renovations over the years, including the addition of in-unit washers and dryers and enhanced …

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Valley Ridge in Rossville, Georgia
FeaturesFinanceFrom the MagazinesInvestment SalesMidwestNortheastSoutheastTexasWestern

Stage Set for Late-Year Uplift in 1031 Deals

by Channing Hamilton

Late last summer, optimism ran steady across the multifamily investment sales market. Prior to the Federal Reserve’s initial rate cut in September 2024, interest rates had remained stable throughout the year. The outlook was positive. But that more ebullient market proved temporary.  The Fed’s interest rate cut had a positive effect on the secured overnight financing rate (SOFR), which fell from 5.3 percent on Sept. 18, 2024, to 4.3 percent in early February 2025. The U.S. 10-year Treasury yield rose during the same period. On Sept. 18, 2024, the 10-year …

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CaliforniaInvestment SalesNewsWestern

CBRE Brokers $5.6 Million Sale of Pacifica Apartments in San Rafael, California

by Channing Hamilton

SAN RAFAEL, CALIF. — CBRE has negotiated the $5.6 million sale of Pacifica Apartments, a 20-unit asset in San Rafael, about 18 miles north of San Francisco. Ben Mollahan and Adam Foley of CBRE represented the buyer, an entity doing business as 55 Canal Street LLC, in the deal. The seller was not disclosed. Located at 55 Canal Street, Pacifica Apartments consists of entirely two-bedroom units. Amenities include a courtyard with a children’s play area and garden, community laundry facility, covered parking and storage for each tenant.

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NOVA Apartments in San Antonio
Investment SalesNewsTexas

Metlife Investment Management Sells Community in San Antonio

by Channing Hamilton

SAN ANTONIO — Metlife Investment Management has sold NOVA Apartments, a 412-unit property located at 14200 Vance Jackson Road in San Antonio. NOVA Apartments was built on 31 acres in 2009. The asset spans 352,912 square feet of rentable space. Residents have access to amenities such as multiple pools, dog parks, an electric vehicle charger, jogging trail and fitness center. Robert Arzola, Ryan McBride and Robert Wooten of JLL Capital Markets represented the seller in the deal. The buyer and sales price were not disclosed.

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Investment SalesMidwestNewsNorth Dakota

Gindi Equities Acquires 117-Unit Community in Fargo, North Dakota

by Channing Hamilton

FARGO, N.D. — Gindi Equities has acquired Amber Crossing Apartment Homes, a 117-unit complex located at 5170 Amber Valley Parkway in Fargo, for an undisclosed price. Property Resources Group was the seller. Built in 2002, Amber Crossing offers one- to three-bedroom units. Gindi Equities plans to make interior refurbishments such as updating the kitchen and bathroom features, as well as renovating common spaces and outdoor amenities.

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8001 Woodmont in Bethesda, Maryland
Investment SalesMarylandNewsNortheast

Peterson Cos. Buys 8001 Woodmont in Bethesda, Maryland, for $194 Million

by Channing Hamilton

BETHESDA, MD. — Fairfax, Virginia-based developer Peterson Cos. has purchased 8001 Woodmont, a 322-unit community in Bethesda, about seven miles north of Washington, D.C. JBG Smith Properties sold the property for $194 million. Robert Jenkins, Bret Thompson and Andrew Gemma of JLL Capital Markets represented the seller in the deal.  Delivered in 2021, 8001 Woodmont offers a mix of one-, two- and three-bedroom floor plans. Residents have access to amenities such as a fitness center, rooftop terrace, outdoor pool and concierge services. The property also includes 19,452 square feet of …

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Investment SalesNewsOklahomaTexas

Home Invest Acquires 100-Unit Community in Del City, Oklahoma

by Channing Hamilton

DEL CITY, OKLA. — Home Invest, a private investment firm and fund manager headquartered in Sarasota, Florida, has bought Morgan Terrace in Del City, six miles east of Oklahoma City, Oklahoma. An undisclosed, California-based investor sold the asset for $3.7 million. According to Apartments.com, Morgan Terrace was completed in 1964 and offers one-, two- and three-bedroom units, as well as a courtyard and onsite laundry facilities.

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Queens WeHo in Nashville, Tennessee
Investment SalesNewsSoutheastTennessee

Origin Investments Buys Queens WeHo in Nashville, Tennessee

by Channing Hamilton

NASHVILLE, TENN. — Origin Investments has purchased Queens WeHo, a 221-unit property located in downtown Nashville’s Wedgewood-Houston neighborhood. Proffitt Dixon, who developed the community in 2023, sold the asset for an undisclosed price.  The property offers a mix of studio, one-, two- and three-bedroom apartments ranging from 559 to 1,120 square feet. The ground level features a 6,461-square-foot restaurant space, which is occupied by Mercado by Butchertown. The asset was 94 percent occupied at the time of sale. Queens WeHo marks the second acquisition of the Chicago-based buyer’s Origin Exchange …

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