Investment Sales

The Willows in Houston
Investment SalesNewsTexas

Greysteel Arranges Sale of 346-Unit Property in Houston

by Channing Hamilton

HOUSTON — Greysteel has arranged the sale of The Willows, a 346-unit property in Houston. According to the community website, The Willows offers one-, two- and three-bedroom units. Amenities include a pool, playground, coffee bar and four laundry facilities. The seller, a private REIT, owned the community for approximately two decades prior to the acquisition. The buyer, whose identity was not disclosed, plans to enhance operational efficiencies and conduct a renovation program at the community. Jack Stone and Chris Castillo of Greysteel brokered the deal.

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ColoradoInvestment SalesNewsWestern

Bell Partners Acquires Two Communities in Metro Denver for $185.8 Million

by Channing Hamilton

PARKER AND LAFAYETTE, COLO. — Bell Partners has acquired Bell Parker and Bell Lafayette, two assets located in the Denver metropolitan area. The company purchased the assets in separate transactions on behalf of its Bell Value-Add Fund VIII for a total of $185.8 million. Completed in 2002, Bell Parker is a 360-unit garden-style property located at 16950 Carlson Drive in Parker, roughly 25 miles southeast of downtown Denver. Bell Partners purchased the asset from Starwood Real Estate Income Trust for $103.3 million. JLL acted as the broker. Built in 2016, …

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Investment SalesMidwestMissouriNews

PPR Acquires Community in Kansas City, Missouri, for $33.6 Million

by Channing Hamilton

KANSAS CITY, MO. — PPR Capital Management (PPR) has acquired Infinity at Plaza West, a 224-unit garden-style community in Kansas City, for $33.6 million. The investment structure includes a total equity investment of $11.4 million, with PPR contributing $10.2 million as the primary equity partner. PPR worked alongside Aspen Funds as the general partner and Petra as co-general partner. Petra will also act as the property manager. Infinity at Plaza West was built in 1949 and offers studio, one- and two-bedroom floor plans, according to Apartments.com. Amenities include a pool, …

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Coventry Square Apartments in Upland, California
CaliforniaInvestment SalesNewsWestern

MJW Investments Acquires Coventry Square Apartments in Upland, California

by Channing Hamilton

UPLAND, CALIF. — MJW Investments has acquired Coventry Square Apartments, a 92-unit community located in Upland, approximately 25 miles west of San Bernardino, California. MJW purchased the asset from an undisclosed seller in an off-market transaction. The sales price was also not disclosed. Built in 1980, Coventry Square Apartments consists of 46 buildings on 9.3 acres. The asset features two-bedroom apartments that average 1,178 square feet. Residents have access to amenities such as a pool, landscaped courtyards and on-site parking. 

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Investment SalesNewsTexas

950 TL Midtown Purchases Community in College Station, Texas, for $40.8 Million

by Channing Hamilton

COLLEGE STATION, TEXAS — 950 TL Midtown LLC has purchased Nine50 Town Lake at Midtown, a property located at 950 Town Lake Drive in College Station, for $40.8 million. The seller was not disclosed. The community offers a mix of one-, two- and three-bedroom floor plans. Units range from 527 to 1,371 square feet. Amenities include a pool with sun deck and a clubhouse with a fitness center, business center, Wi-Fi café and game lounge with a billiards table and shuffleboard. The community is pet-friendly, with a pet spa and …

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The Forge at Glassworks in Aberdeen, New Jersey
Investment SalesNew JerseyNewsNortheast

Beachwold Residential Acquires Property in Aberdeen, New Jersey, for $57 Million

by Channing Hamilton

ABERDEEN, N.J. — Beachwold Residential has purchased The Forge at Glassworks, a 170-unit community located at 118 Glassworks Blvd. in Aberdeen, roughly 40 miles south of New York City. Ingerman Group sold the property for $57 million. Built in 2017, The Forge at Glassworks offers a mix of one- and two-bedroom apartments, as well as three-bedroom townhome units. The average unit size is 1,077 square feet. Amenities include a lobby and clubroom, pool, fitness center with a sauna and yoga studios, game room and multiple outdoor spaces, such as a …

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The Strand in West Sacramento, California
CaliforniaInvestment SalesNewsWestern

Partnership Acquires Garden-Style Asset in West Sacramento, California, for $126 Million

by Channing Hamilton

WEST SACRAMENTO, CALIF. — A partnership between The Bascom Group LLC and Oaktree Capital Management LP has acquired The Strand, a 408-unit property in West Sacramento. The garden-style asset traded for $126 million. The identity of the seller was not disclosed. The Strand was built in 2021 by MBK Rental Living. The property consists of 39 three-story buildings offering a mix of one-, two- and three-bedroom apartments. The average unit size is 885 square feet. Amenities include two pools with cabanas, a clubhouse, fire pits and gas grills, a spa …

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Investment SalesNewsTexas

Atlantic Multifamily Sells 192-Unit Destino Apartments in Grand Prairie, Texas

by Channing Hamilton

GRAND PRAIRIE, TEXAS — Atlantic Multifamily has sold The Destino, a 192-unit community located in Grand Prairie, roughly midway between Dallas and Fort Worth. The Destino was constructed on an 11-acre site in the 2000s. The community consists of 18 buildings and offers one-, two- and three-bedroom floor plans. Amenities include a pool, outdoor kitchen, playground and a dog park. Al Silva and Ford Braly of Marcus & Millichap represented the seller and procured the buyer, a New York-based private investment company, in the deal.

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Nimbus in Everett, Washington
Investment SalesNewsWashingtonWestern

CEP Multifamily Buys Nimbus in Everett, Washington, for $49 Million

by Channing Hamilton

EVERETT, WASH. — CEP Multifamily has purchased Nimbus, a 165-unit property located at 2701 Rockefeller Ave. in Everett, approximately 30 miles north of Seattle. David Young, Corey Marx and Chris Ross of JLL Capital Markets represented the seller, Trent Development, in the deal. The eight-story complex traded hands for $49 million. Completed in 2022, Nimbus offers a mix of studio, one- and two-bedroom units. Amenities include a coworking lobby, fitness room, arcade, entertainment kitchen and rooftop lounge.

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Lakeside Gardens in Jeffersonville, Indiana
FinanceIndianaInvestment SalesMidwestNews

S&S Properties Acquires Property in Jeffersonville, Indiana, for $67.2 Million

by Channing Hamilton

JEFFERSONVILLE, IND. — S&S Properties has acquired Lakeside Gardens, a 360-unit asset located at 4101 Herb Lewis Road in Jeffersonville, just across the Ohio River from Louisville, Kentucky. A joint venture between Denton Floyd Real Estate Group, LDG Development and a private investor sold the property for $67.15 million. Built in 2022, Lakeside Gardens features a mix of one-, two- and three-bedroom units. The average unit size is 1,244 square feet. The community was 95 percent occupied at the time of sale. According to Apartments.com, residents have access to amenities …

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