Investment Sales

HaverstockHills-Houston
Affordable HousingDevelopmentInvestment SalesNewsTexas

Fairstead Acquires Houston Affordable Housing Property, Plans Redevelopment for $242 Million Total Investment

by Lynn Peisner

HOUSTON — Fairstead has acquired Haverstock Hills Apartments in Houston’s East Aldine neighborhood. The New York City-based affordable housing developer will renovate the 700-unit property over the next 24 months. The redevelopment and acquisition costs came to $242 million. PNC Multifamily Capital was the debt and equity provider. Harris County Housing Finance Corp. and Rainbow Housing Corp. will continue to provide on-site social services. Located at 5619 Aldine Bender Road, Haverstock Hills comprises 44 two- and three-story buildings spanning 22 acres. Residences include a mix of studios, one-, two- and …

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Perry-Row-Dallas-Texas
FinanceInvestment SalesNewsTexas

Mesa West Capital Originates $42 Million Loan for JV Acquisition in Dallas

by Lynn Peisner

DALLAS — A joint venture consisting of Knightvest Capital and TPG Angelo Gordon has secured a $42 million acquisition loan originated by Mesa West Capital. The loan was used to buy and to finance an upcoming renovation of Perry Row, a 149-unit community at 6044 E. Lovers Lane in northeast Dallas, approximately six miles north of downtown. Built in 2009, the property offers a mix of one-, two- and three-bedroom townhome-style units. Amenities include a 24-hour fitness center, a resort-style pool, an outdoor kitchen and a business center. The new …

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Luxe-at-1820-Tampa
FloridaInvestment SalesNewsSoutheast

StoneBridge Investments Buys Luxe at 1820 in Tampa

by Lynn Peisner

TAMPA, FLA. — StoneBridge Investments has acquired Luxe at 1820 in Tampa from American Landmark for an undisclosed amount. Brian Moulder and Chris Chadbourne of Walker & Dunlop represented the seller. Acquisition financing was arranged by Connor Locke, Brenden Coleman and Skye Stansbury of Walker & Dunlop. The 300-unit garden-style property is located at 1820 Crosstown Club Place in the Tampa suburb of Brandon, about 8 miles east of downtown. The asset was constructed in 2009, and Washington, D.C.-based StoneBridge is planning to implement capital improvements during its hold. “Tampa …

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Livery-Lakeville
Investment SalesMidwestMinnesotaNews

RPM Living Buys Livery in Minneapolis Exurb

by Lynn Peisner

LAKEVILLE, MINN. — CBRE has arranged the sale of Livery, a 204-unit community in Lakeville, 25 miles south of Minneapolis. Texas-based RPM Living acquired the property from Indiana-based Garrett Cos. for an undisclosed amount. CBRE’s Ted Abramson, Keith Collins and Abe Appert represented the seller in the transaction. Livery is located at 5076 161st St. W. Built in 2023, the townhome community features a range of one-, two- and three-bedroom floor plans averaging 1,117 square feet each with direct-access garages. Amenities include a yoga room with Torch Fitness on demand, …

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Jefferson-Cedar-Ridge-Dallas
Investment SalesNewsTexas

Newmark Arranges Sale of Jefferson Cedar Ridge in Dallas

by Lynn Peisner

DALLAS — Newmark has arranged the sale and financing of Jefferson Cedar Ridge, a 360-unit property in southwest Dallas. Newmark’s Richard Furr, Brian Murphy and Brian O’Boyle Jr. represented seller, TDI, in the transaction. Newmark’s finance team, led by Braden Harmon, Hank Glasgow and Jeff Fein, arranged acquisition financing on behalf of joint buyers Ashcroft Capital and Pearlmark Real Estate. Jefferson Cedar Ridge was developed in 2024.

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Excelsior-Gardens-Ozark
Investment SalesMidwestMissouriNews

Gorrell Hughes Capital Acquires Two Properties in Metro Springfield, Missouri

by Lynn Peisner

SPRINGFIELD, MO. — Gorrell Hughes Capital has acquired two properties in the Springfield metro area. The properties are Sunset Woodland Apartments, a 177-unit community at 2752 South Meadowbrook Ave. in Springfield, and Excelsior Gardens Apartments, a 104-unit property at 1582 South 14th Ave. in neighboring Ozark, Missouri. The Tulsa, Oklahoma-based investment firm targets value-add acquisitions in middle-income markets.

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DECO-Apartments-Minneapolis
Investment SalesMidwestMinnesotaNews

DECO Apartments Changes Hands in Minneapolis Metro City of Shakopee

by Lynn Peisner

SHAKOPEE MINN. — Enclave, a development firm based in West Fargo, North Dakota, has sold DECO Apartments, an 89-unit community at 129 Holmes St. S. in Shakopee, 25 miles southwest of Minneapolis. LouMin Holdings, a locally based multifamily investment firm, was the buyer. A JLL team led by Joseph Peris and Josh Talberg arranged the sale. Built in 2021, DECO features a rooftop deck with grilling stations, a fitness center, a clubroom, underground parking and ground-floor retail occupied by Mana Brewing. The sales price was not disclosed

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1860-1900-N.-Parkside-Drive-Chicago
IllinoisInvestment SalesMidwestNews

Interra Arranges Two Chicago Trades Totaling $4.7 Million

by Lynn Peisner

CHICAGO — Interra Realty has arranged the sale of two properties in northwest Chicago totaling $4.7 million. The two-building, 16-unit 1860-1900 N. Parkside Drive in Park Ridge sold for $2.75 million, and the 12-unit 8544-48 W. Gregory St. in Chicago’s O’Hare submarket transacted for $1.9 million. Interra’s Patrick Kennelly, Paul Waterloo and Nathan Zito represented both the undisclosed buyer and seller of 1860-1900 N. Parkside. Kennelly, Waterloo and Zito also represented the undisclosed partnership seller of 8544-48 W. Gregory, with Oleg Komarnytskyy of KOMAR Real Estate representing the private buyer. Both …

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Lakeside-Houston
Investment SalesNewsTexas

Knightvest Capital Sells Lakeside in Houston

by Lynn Peisner

HOUSTON — Newmark has arranged the sale of Lakeside, a 296-unit community located at 9550 Meyer Forest Drive in Houston. Newmark’s David Mitchell represented the seller, Knightvest Capital, while Colin Cross secured financing on behalf of the buyer, Pegasus Real Estate. The sales price was not disclosed. Built in 2001, Lakeside is a mid-rise community featuring a mix of one-, two- and three-bedroom units averaging approximately 1,000 square feet. The property was 92 percent occupied at the time of sale. Recent upgrades at Lakeside include enhancements to the clubhouse, pool …

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CRG-Wildcreek-Apartments-Austin
Investment SalesNewsTexas

Continental Realty Group Acquires 232-Unit Community in Austin

by Lynn Peisner

AUSTIN, TEXAS — Continental Realty Group, a Denver-based owner and operator, has acquired the 232-unit Wildcreek Apartments in Austin. This marks Continental Realty Group’s first acquisition in the Austin market. Built in 1984, Wildcreek features one- and two-bedroom units and such amenities as a clubhouse and leasing center, two pools, a dog park and a basketball court. The new owner is planning to lightly upgrade unit interiors as well as the property’s exterior and common areas. JLL represented the seller, Bob Reeve. The sales price was not disclosed.

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