Investment Sales

The-Worthington-Pikesville
FinanceInvestment SalesMarylandNewsNortheast

Walker & Dunlop Arranges $75M Acquisition Loan for Metro Baltimore Property

by Lynn Peisner

PIKESVILLE, MD. — Walker & Dunlop has arranged a $75 million agency loan for the acquisition of The Worthington Apartments in the northwest Baltimore suburb of Pikesville. Locally based Quest Management Group was the buyer/borrower. The 612-unit garden-style community is situated on approximately 38 acres. The site is comprised of 29 buildings, four garages, a clubhouse, a pool house and a maintenance facility. Walker & Dunlop’s Jonathan Zilber and Joel Chetner arranged the 10-year, fixed-rate nonrecourse loan.

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The-Hill-Apartments-St-Paul
Investment SalesMidwestMinnesotaNews

Wolverton Capital Sells The Hill Apartments in Twin Cities Metro

by Lynn Peisner

ST. PAUL, MINN. — Wolverton Capital has sold The Hill Apartments, a 162-unit community in St. Paul’s Cathedral Hill neighborhood. JLL’s team representing Santa Monica, California-based Wolverton was led by Josh Talberg, Joseph Peris and Eli Smith. The Hill Apartments were built in 2020. Amenities include a pool and hot tub, a business center with a conference room, a clubhouse with a full kitchen, a fitness center and a lobby lounge. According to the Minneapolis/St. Paul Business Journal, the property is valued at $26.8 million and was developed by Edina, …

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The-Meadows-Roseville
Affordable HousingInvestment SalesMichiganMidwest

Standard Communities Buys, Preserves Affordable Housing in Metro Detroit

by Lynn Peisner

ROSEVILLE, MICH. — Affordable housing investment and development firm Standard Communities has acquired The Meadows, a 124-unit property in Roseville, an unincorporated city 15 miles northeast of downtown Detroit. All units are income-restricted and supported by project-based Section 8 Housing Assistance Payment (HAP) contracts. Of the 124 units, 111 are restricted to households earning at or below 60 percent of area median income (AMI), and 13 are restricted at 40 percent AMI. Affordability was extended through a 20-year Section 8 renewal via a HAP assignment and assumption. Standard will complete …

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Douglas-Terrace-Racine
Investment SalesMidwestNewsWisconsin

MLG Capital Sells Douglas Terrace in Racine, Wisconsin, for $23M

by Lynn Peisner

RACINE, WIS. — Northmarq has arranged the $23 million sale of and acquisition financing for Douglas Terrace Apartments in Racine. Northmarq’s Chicago-based investment sales team led by Alex Malzone, Parker Stewart, Dominic Martinez and Jake Lamb represented seller Wisconsin-based MLG Capital. The buyer was a private capital group from Illinois. A debt and equity team led by Brett Hood and Kevin McCarthy arranged an $18.3 million Fannie Mae loan for the buyer. Douglas Terrace Apartments is a 202-unit garden-style community located at 3706 Douglas Ave. Built in 1966 and renovated …

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Harbor-Point-Baltimore
GeorgiaInvestment SalesNewsSoutheastVirginia

Harbor Group International Buys 11 Properties from AH Realty Trust for $562M

by Lynn Peisner

NORFOLK, VA. — Harbor Group International (HGI) will acquire 11 properties from AH Realty Trust (NYSE:AHRT) for $562 million. The 11 assets represent the majority of Virginia Beach-based AHRT’s multifamily portfolio. The REIT will retain Smith’s Landing and plans to separately market its remaining two properties, The Everly in Roanoke, Virginia, and Solis in Gainesville, Georgia. HGI has provided a $15 million nonrefundable deposit, and the all-cash transaction is not contingent on financing. The transaction is expected to close by mid-year. AHRT’s long-term goals are to simplify its platform by …

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Bruce-Thompson-Scott-Manning
Affordable HousingDevelopmentFeaturesInvestment Sales

Opportunity Zone Program Presents Strategic Window for Multifamily and Affordable Housing Investment

by Lynn Peisner

By Scott Manning and Bruce Thompson Real estate developers, investors, and community leaders have a unique opportunity in the coming months to ensure that state officials appropriately designate low-income census tracts that will most benefit from investment dollars related to the federal Opportunity Zone program. Since the enactment of the program in 2017, Qualified Opportunity Zones across all 50 states, the District of Columbia, and U.S. territories have attracted significant private investment, fueling housing development, job creation and economic revitalization in underserved communities. With the current Opportunity Zone program set …

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Jefferson-Cove-Grand-Prairie
Investment SalesNewsTexas

Newmark Arranges Sale of Jefferson Cove in Grand Prairie, Texas

by Lynn Peisner

GRAND PRAIRIE, TEXAS — Madera Residential has acquired Jefferson Cove, a 283-unit property completed in 2024, from TDI. Newmark’s Brian Murphy, Brian O’Doyle Jr. and Purvesh Gosalia arranged acquisition financing on behalf of Madera. Amenities include a pool, a game lawn, a clubhouse, controlled access parking, community-wide Wi-Fi and Luxer One package lockers.

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sage-on-prospect-Milwaukee
Investment SalesMidwestNewsWisconsin

CBRE Arranges Sale of Sage on Prospect in Milwaukee

by Lynn Peisner

MILWAUKEE — CBRE has arranged the sale of Sage on Prospect, a 34-unit community in Milwaukee’s Lower East Side neighborhood. The asset traded for approximately $8.3 million. CBRE’s Sean Beuche, Matson Holbrook, Gretchen Richards and Patrick Gallagher represented the seller, locally based Dominion Properties in the transaction. Three Sixty Real Estate Solutions, headquartered in La Crosse, Wisconsin, was the buyer. Dominion Properties purchased the asset in 2014 and embarked on a redevelopment project that converted a 1961-built assisted living facility into a LEED Platinum-certified multifamily community. The redevelopment included the …

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45-White-Manhattan
Investment SalesNew YorkNewsNortheast

Slate Property Group Buys Historic Tribeca Property for $32M

by Lynn Peisner

NEW YORK CITY — Slate Property Group and Avenue Realty Capital have partnered to acquire 45 White Street, a seven-story multifamily building in Manhattan’s Tribeca neighborhood. Benchmark Real Estate Group, represented by JLL, sold the asset for $32 million. Financing was provided by lender White Oak Real Estate Capital. The 16-unit building was originally constructed in 1868 as a commercial office building before being converted to residential use in 2009. The property is part of the Tribeca East Historic District and features a cast iron façade as well as two …

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FloridaInvestment SalesNewsSoutheast

Coldwell banker Commercial Realty Arranges $21.2M Sale in Hialeah, Florida

by Lynn Peisner

HIALEAH, FLA. — Coldwell Banker Commercial Realty has arranged the $21.2 million sale of a 74-unit property at 1350 W. 46th St. in Hialeah. Coldwell Banker’s Alex Lizama represented the seller, Royal Income Properties, in the deal. The buyer was a private investment group requesting anonymity. Built in 1972, the property spans approximately 44,940 square feet. The one- and two-bedroom units are complemented by amenities that include a pool and controlled access.

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