FLAGSTAFF, ARIZ. — Investors Capital Group has purchased Table Rock, a 100-unit property in Flagstaff, from Aultas for $25.9 million. Built in 1998, Table Rock is a garden-style community that offers two- and three-bedroom floor plans. The average unit size is 1,032 square feet. Amenities include a clubhouse and fitness center. Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer.
INDIANAPOLIS — Standard Real Estate, Arrow Street Development and Belay Investment Group have sold Wesley Place, a 244-unit property to an undisclosed seller for an undisclosed cost. It was 91 percent leased at the time of sale. The property was developed in 2023 in downtown Indianapolis’ Medical District. It is within walking distance to Indiana University Health Campus, a $4.3 billion expansion and redevelopment that broke ground in 2022 and is expected to be complete, with medical offices and retail, by 2027. A JLL Chicago team of Amanda Friant, Ken …
MIAMI — CBRE has hired Greg Engler as vice chair to the firm’s Florida capital markets team. Engler will collaborate with CBRE’s existing sales and debt teams to increase multifamily business in Florida markets. Engler joins CBRE from Engler Realty Advisors, a multifamily investment sales company he founded in 2022. He also founded Engler Financial Group in 2003, which was acquired by Walker & Dunlop in 2015, after which time he served as executive vice president of investment sales.
NOBLESVILLE, IND. — Old Town Cos. has sold Federal Hill Apartments, a 222-unit property in Noblesville, 23 miles north of Indianapolis, Indiana. Summit Equity Investments acquired the community for an undisclosed price. Hannah Ott, George Tikijian, Cam Benz, Clair Hassfurther, Ryan Stockamp and Sean Pingel of CBRE represented the seller in the deal. Built in 2024, Federal Hill Apartments offers a mix of studio, one- and two-bedroom units with an average size of 863 square feet. Amenities include a fitness center, pool, indoor pet grooming spa, electric vehicle charging stations …
DALLAS — BAI Fund Manager (BOLOUR), an affiliate of Beverly Hills, California-based investment, development and finance company Bolour Associates Inc., has provided financing for the acquisition of a 112-unit affordable housing community in Dallas. John Choi of Concord Summit Capital represented the borrower. Built in 1989, the property is located at 4753 Duncanville Road, roughly 15 miles southwest of downtown Dallas. Units come in one-, two- and three-bedroom floor plans and range from 663 to 1,059 square feet. Income restrictions for the community were not disclosed.
PHOENIX — IMT Capital, together with its affiliated property management company IMT Residential, has acquired Marquis at Desert Ridge, a 370-unit property in the Desert Ridge neighborhood of Phoenix. Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen of CBRE represented the seller, a national investor and operator, in the deal. Built in 2014, Marquis at Desert Ridge offers one- and two-bedroom units. Amenities include a pool and spa area with a sundeck lounge and cabanas, outdoor kitchen and grill stations, fitness center, clubhouse with entertainment kitchen, billiard room and business center. The new …
DALLAS — Marcus & Millichap has arranged the sale of Agave Azul on Boulder Apartments, a 66-unit community in Dallas. Built in 1965, Agave Azul on Boulder Apartments offers one-, two- and three-bedroom floor plans. The average unit size is 950 square feet. The property was renovated with new individual HVAC systems and pitched roofs over the past five years. Ford Braly, Al Silva and Dylan York of Marcus & Millichap’s Fort Worth office marketed the asset on behalf of the seller, a locally based private investor. The seller originally …
BOSTON — CBRE has brokered the sale of a 133-unit apartment complex located in the Dorchester Lower Mills area of Boston. The site originally housed the Baker Chocolate Factory, and the building was converted to residential usage in the 1980s and subsequently renovated in 2008. Units come in studio, one- and two-bedroom floor plans and have an average size of 793 square feet. Amenities include a fitness center and a business center. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller, a partnership created …
WOODBURY, MINN. — Habitat has acquired Seasons Villas, a multifamily community with 214 townhome-style rental units in the Twin Cities suburb of Woodbury. The purchase price was undisclosed. Seasons Villas features 47 single-story units and 167 two-story units. Floor plans span 960 to 1,160 square feet. Habitat also assumed management of the property. In addition to performing routine asset preservation and maintenance improvements, Habitat plans to enhance the pet-friendly community with the addition of a dog park. The seller was Boston Capital Group, and Willow Bridge Property Co. previously managed …
FITCHBURG, WIS. — CBRE has arranged the sale of The Pines and The Fairways, two properties totaling 674 units in Fitchburg, a southern suburb of Madison. FPA Multifamily LLC purchased the assets from E.J. Plesko & Associates Inc. affiliated entities for an undisclosed price. CBRE’s Gretchen Richards, Patrick Gallagher, Matson Holbrook, Sean Beuche, Abe Appert, Keith Collins and Ted Abramson represented the seller. The Pines is located at 2302 High Ridge Trail near the southeastern end of Nine Springs Golf & Disc Golf Course. Built in 1978, the 305-unit property …
