CANTON, GA. — Blue Atlantic Partners, an affiliate of Miami, Florida-based Atlantic Pacific Cos., has acquired Canterbury Ridge in Canton, roughly 40 miles north of Atlanta. The new ownership will rename the asset to The Atlantic Canton Ridge. The garden-style community is located at 101 Canterbury Ridge and consists of 212 units. Apartments come in one-, two- and three-bedroom floor plans and range from 654 to 1,338 square feet. Amenities include a pool, fitness center, clubhouse and playground. Atlantic Pacific Cos. will take over property management services. The company also plans …
CHICAGO — Lument has added Todd Stofflet to the firm’s real estate investment sales team as a managing director. Based in Chicago, Stofflet will focus on multifamily deals in Illinois, Indiana, Michigan and Wisconsin. He joins Lument from Walker & Dunlop, where he led the firm’s Midwest Investment Sales team. Prior to this, Stofflet served as a managing director at Cushman & Wakefield, which he joined when the company acquired KIG CRE in 2018.
FORT WORTH, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Cortland Riverside, a 374-unit property in Fort Worth. Built in 2020, the garden-style community consists of two- and three-story buildings. The property offers a mix of two- and three-bedroom apartments with an average size of 1,014 feet. Tenants have access to amenities such as a pool with a sundeck, fitness center and private garages. Select units feature energy-efficient stainless-steel appliances and walk-in closets. Cortland Riverside was 95 percent occupied at the …
GOLDEN, COLO. — Confluence Cos. has purchased West 8th, a 99-unit community located at 1410 8th St. in Golden, roughly 15 miles west of Denver. MIG Real Estate sold the property for $47.5 million. David Potarf, Dan Woodward, Matt Barnett and Jake Young of Walker & Dunlop Denver Investment Sales handled the transaction for the seller and buyer.
EDEN PRAIRIE, MINN. — FPA Multifamily has purchased Cascade at Town Center, a 204-unit community in Eden Prairie, 18 miles southwest of Minneapolis. The community was bult in 2001 with 18 additional apartments added in 2018. The average unit size is 1,158 square feet. Amenities include a gym, clubroom, indoor pool, courtyard and garage parking. Josh Talberg, Joseph Peris and Mark Stern of JLL represented both the seller, a joint venture between Harbert Management and Magellan Investment Partners, and the buyer. Elliott Throne and Scott Loving of JLL originated acquisition …
SUNRISE, FLA. — FCP, in partnership with BMC Investments and The RMR Group, has bought ARIUM Sunrise, a 400-unit asset in Sunrise, approximately 10 miles east of Fort Lauderdale, Florida. ARIUM Sunrise was built in 1998 and was 94 percent occupied at the time of sale. Amenities include a pool, clubhouse and fitness center. Additionally, the partnership plans to upgrade 32 of the units. Wells Fargo provided financing for the acquisition. Robert Given and Zachary Sackley of CBRE represented the seller in the deal. Charles Crapse and Denny St. Romain, …
AUBREY, TEXAS — SPI Advisory, an investment firm with offices in Dallas and Austin, Texas, has purchased Encore 380 Apartments, a 416-unit asset in Aubrey, approximately 50 miles north of downtown Dallas. Eastdil Secured represented the undisclosed seller in the deal. Formerly known as Century 380 Apartments, the garden-style community was built in 2017. SPI plans to renovate the community with upgrades to the property exterior, common areas and amenity spaces. The new ownership will also add washers and dryers to all units.
HOFFMAN ESTATES, ILL. — Bender Cos. has purchased Haven Hoffman, a 550-unit garden-style community in Hoffman Estates, about 33 miles northwest of downtown Chicago. Tricap Residential Group and Wolcott Group sold the asset for $77.3 million. Located at 725 W Bode Cir., Haven Hoffman offers a mix of studio, one- and two-bedroom floor plans. The average unit size is 746 square feet. Amenities include a pool, fitness center, clubhouse, work-from-home suites and picnic areas with grilling stations. The property was built in 1970. The previous ownership invested approximately $3.3 million into …
PHOENIX — Neighborhood Ventures (NV), a real estate crowdfunding company based in Phoenix, has purchased Venture on Colter, a 123-unit property in Phoenix. NV purchased the asset directly from an undisclosed lender for $13 million, a 20 percent discount from the community’s value in 2022. The company has raised $4.5 million from 95 investors for the property. NV estimates that, after implementing new property management and leasing strategies, Venture on Colter will be fully occupied within the next six months.
FRISCO, TEXAS — CenterSquare has acquired Sorrel Phillips Creek Ranch, a 352-unit asset in Frisco, 30 miles north of downtown Dallas, in an off-market transaction. The community offers one-, two- and three-bedroom apartments. The acquisition was made on behalf of CenterSquare’s Value-Added Fund VI. The new ownership plans to renovate the units with new countertops and cabinets, add laminate vinyl plank to the upper floors and install a technology package in addition to updating the fitness center and tenant lounge area.