FORT WORTH, TEXAS — Colliers Mortgage has provided financing for the acquisition of Northwood Apartment Homes, a 100-unit community in Fort Worth. Fritz Waldvogel of Colliers Mortgage originated the five-year Fannie Mae loan through a partnership with Old Capital Lending. The borrower was not disclosed. Northwood Apartment Homes was built in 1972. The property comprises six two-story buildings and one clubhouse, as well as onsite laundry facilities and outdoor grilling and dining stations.
Across the United States, real estate markets are in a recession for dealmakers. The run-up in interest rates over an 18-month period has choked off transactions. Potential buyers and sellers are deadlocked over price. Vulture investors are waiting for owners who paid too much for properties during boom years to be forced to sell. New York City reflects all those trends — only more so. Many investors spent billions of dollars to buy rent-stabilized buildings in the city with plans to eventually raise the rents. But in 2019, lawmakers made …
ISELIN, N.J. — Cushman & Wakefield has brokered the sale of a development site located at 186 Wood Ave. S. in the northern New Jersey community of Iselin. The site is located within the Centra at Metropark office campus. The Hampshire Cos. sold the asset to Woodmont Properties for an undisclosed price. Andrew Merin, David Bernhaut, Gary Gabriel, Frank DiTommaso and Ryan Larkin of Cushman & Wakefield represented the seller in the deal. The buyer did not disclose specific plans for the project.
SAN DIEGO — Liberty National Corp. has purchased a 22,484-square-foot property in San Diego’s downtown area for an undisclosed price. The developer plans to construct a high-rise community on the site, including a selection of affordable housing units. The site is located at 1520 and 1532 3rd Avenue in San Diego’s Cortez Hill neighborhood, directly across the street from the historic St. Joseph Cathedral. Liberty National Corp. states that the company acquired the site due to its location, which is in proximity to attractions such as Balboa Park, Little Italy and …
NAPERVILLE TOWNSHIP, ILL. — Standard Real Estate Investments and The Vistria Group have purchased Haven on Long Grove, a 416-unit naturally occurring affordable housing community in the Chicago suburb of Naperville Township. The buyers acquired the property from Pensam Capital for $94 million. The acquisition includes the assumption of an existing, fixed-rate Fannie Mae mortgage serviced by M&T Bank. John Jaeger of CBRE brokered the off-market transaction. Situated on 34 acres, Haven on Long Grove comprises 248 apartment-units and 168 townhomes. Apartment units come in one- and two-bedroom floor plans. Units …
SMYRNA, GA. — Cushman & Wakefield has negotiated the sale of Harlow, a recently-completed community in the Atlanta suburb of Smyrna. RA Capital Partners purchased the asset from South City Partners for an undisclosed price. Robert Stickel, Alex Brown, Ashlyn Warren, Michael Kay, and Sim Patrick of Cushman & Wakefield represented the seller in the deal. Harlow offers 303 units, as well as more than 6,000 square feet of amenity space. The property is situated nearby The Battery, a mixed-use entertainment district and home of the Atlanta Braves.
BOISE, IDAHO — San Francisco-based investment firm Hamilton Zanze has sold Arbor Crossing, a 229-unit community in Boise. The sales price and buyer were not disclosed. Arbor Crossing was built in 1992 at 5122 W Stoker Lane. The property offers one-, two- and three-bedroom units with an average size of 930 square feet. Community amenities include a fitness center, business center, pool, daycare, playground, coffee and tea bar, detached garages, a sports court and a gazebo with a grilling area.
ROSELLE, N.J. — The Kislak Co. has arranged the $6.9 million sale of Sheridan Garden Apartments, a 35-unit complex in the New York City suburb of Roselle. Sheridan Garden Apartments was originally built in 1928. Joni Sweetwood of Kislak represented the seller, an entity doing business as Sheridan Estate Urban Renewal LLC, in the deal. Sweetwood also procured the buyer, Harrison Grove Holdings LLC.
HOUSTON — Pagewood has purchased Costa Mesa, a 152-unit community in Houston. Amegy Bank provided acquisition financing for the deal. The seller and sales price were not disclosed. Costa Mesa comprises 12 buildings that each rise two stories. Units come in one- and two-bedroom layouts and range in size from 614 to 1,044 square feet. Amenities include a pool, clubhouse, playground, business center and onsite laundry facilities.
ST. LOUIS PARK, MINN. — Marcus & Millichap has brokered the sale of Via Sol, a 217-unit property in St. Louis Park. Via Sol was built in 2022 and offers amenities such as an urban art forest, rooftop terrace, fitness center, and underground parking. Bigos-Via Sol LLC acquired the asset from Place E-Generation One LLC. Abe Roberts, head of the Roberts Group of Marcus & Millichap in Minneapolis, along with IPA’s Will Balthrope and Drew Garza, represented the seller in the deal. Will Tansey of the Felhaber Larson law firm …