Investment Sales

Avalon Townhomes at Bee Cave in Bee Cave, Texas
Investment SalesNewsTexas

AvalonBay Communities Acquires 126-Unit Townhome Community Near Austin, Texas

by Channing Hamilton

BEE CAVE, TEXAS — AvalonBay Communities has acquired Brisa Townhomes, a townhome community located at 4810 Brisa Way in Bee Cave, approximately 15 miles west of Austin. Patton Jones and Andrew Dickson of Newmark Multifamily Capital Markets represented the undisclosed seller in the deal. The sales price was also not disclosed. Brisa Townhomes was built on 17 acres in 2022. The two-story community offers three- and four-bedroom units. Each townhome includes a direct access, two-car garage. Residents have access to amenities such as a pool, outdoor kitchen with grills, private conference room, fitness …

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299 Franklin in Redwood City, California
CaliforniaInvestment SalesNewsWestern

Acacia Capital Purchases San Francisco Bay Area Asset for $184 Million

by Channing Hamilton

REDWOOD CITY, CALIF. — Acacia Capital has acquired 299 Franklin, a 304-unit community in Redwood City, 30 miles south of San Francisco, from Nuveen. Walker & Dunlop arranged a Fannie Mae acquisition loan on behalf of Acacia for $113 million. The total sales price was $184 million. Built in 2015, 299 Franklin offers studio, one- and two-bedroom units and 11 townhomes. Amenities include a rooftop deck, fitness center, pool, bike storage and electric vehicle charging stations. According to the property’s website, rents of available units start at approximately $2,723 for …

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Pearson Gardens in Anaheim, California
CaliforniaInvestment SalesNewsWestern

CBRE Arranges $16.8 Million Sale of Two Properties in Anaheim, California

by Channing Hamilton

ANAHEIM, CALIF. — CBRE has arranged the $16.8 million sale of two properties totaling 53 units in Anaheim. Dan Blackwell and Amanda Fielder of CBRE facilitated a 1031 exchange on behalf of the buyer, an Orange County-based private investor. The properties included in the sale were Aria Apartments and Pearson Gardens.  Aria Apartments is a 33-unit community located on a 1.2-acre site at 2910 W. Ball Road. The asset comprises 24,796 square feet of rentable space across six two-story buildings. Units come in one- and two-bedroom layouts. Amenities include an …

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Sonder Fields in Happy Valley, Oregon
Investment SalesNewsOregonWestern

Cobalt Sells Sonder Fields in Suburban Portland, Oregon, for $58.2 Million

by Channing Hamilton

HAPPY VALLEY, ORE. — Cobalt has completed the disposition of Sonder Fields, a 180-unit community located at 14798 SE Parklane Drive in Happy Valley, roughly nine miles southeast of Portland, Oregon. An undisclosed buyer purchased the asset for $58.2 million. Sonder Fields was built in 2023. Spanning 10 acres, the community includes one-, two- and three-bedroom units with an average size of 972 square feet. Amenities include a pool with hot tub, fitness center, dog park, clubhouse lounge, barbeque picnic areas and coworking spaces. Ira Virden, Carrie Kahn and Frank …

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The Mark at Wildwood in Oxford, Florida
FloridaInvestment SalesNewsSoutheast

JLL Capital Markets Brokers Sale of 294-Unit The Mark at Wildwood in Oxford, Florida

by Channing Hamilton

OXFORD, FLA. — JLL Capital Markets has brokered the sale of The Mark at Wildwood, a 294-unit community located at 3795 Bismark Court in Oxford, approximately 60 miles northwest of Orlando, Florida. Cliff Taylor, Joe Ayers, Ryan Hixon, Tucker Brooks and Mike Scott of JLL represented the sellers, Varden Capital Properties and Tellus Partners, in the deal. TriBridge Residential purchased the asset for an undisclosed price. The Mark at Wildwood was completed in 2023. The community offers a mix of one-, two- and three-bedroom floor plans, including flat and carriage …

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Residences at Stevens Pond in Saugus, Massachusetts
Investment SalesMassachusettsNewsNortheast

Waterton Acquires 326-Unit Residences at Stevens Pond in Suburban Boston

by Channing Hamilton

SAUGUS, MASS. — Chicago-based Waterton has acquired Residences at Stevens Pond, a 326-unit community in Saugus, approximately 10 miles north of Boston. The seller and sales price were not disclosed. Constructed in 2003, Residences at Stevens Pond consists of 25 three-story buildings, as well as a clubhouse. The community features one-, two- and three-bedroom units, including apartments, lofts and townhomes. Amenities include a pool and spa, outdoor pavilion with fireplace, fitness center, arcade, indoor half-basketball court and golf simulator. The property is surrounded by the Breakheart Reservation, a 652-acre public …

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Parkside Apartments in Redmond, Washington
Investment SalesNewsWashingtonWestern

Lakevision Capital Acquires Parkside Apartments in Seattle Suburb for $286 Million

by Channing Hamilton

REDMOND, WASH. — Lakevision Capital has purchased Parkside Apartments, a 664-unit community located at 15551 NE Turing St. in Redmond, roughly 15 miles east of Seattle. A Texas-based group of investors, previously associated with Lincoln Property Co. Residential and Daiwa House Texas, sold the property for $286 million. Built in 2021, Parkside Apartments spans four buildings on a 4.5-acre site. Apartments come in studio, one- and two-bedroom floor plans. Residents have access to amenities such as two rooftop decks, fitness center, a pet wash station, entertaining suite and game lounge. …

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Affordable HousingDevelopmentFeaturesInvestment SalesNortheastPennsylvania

How Philadelphia is Leveraging Vacant Land to Solve Affordable Housing Shortage

by Channing Hamilton

Last year, developers in Philadelphia built hundreds of new row houses on vacant, city-owned lots. The houses would sell to new homeowners at affordable prices. Many housing advocates say it’s not nearly enough. While new, luxury apartments charge record-high rents in neighborhoods around Center City, other streets in Philadelphia are still lined with vacant lots strewn with trash. As rents rise across the city, Philadelphia’s new mayor, Cherelle Parker, has promised to produce 30,000 new units of affordable housing over four years. That’s more than 8,000 units of housing per …

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32 Ave. A in New York City
Investment SalesNew YorkNewsNortheast

Marcus & Millichap Brokers $5.8 Million Sale of Mixed-Use Building in Manhattan

by Channing Hamilton

NEW YORK CITY — Marcus & Millichap has negotiated the $5.8 million sale of a mixed-use building located at 32 Ave. A in Manhattan’s East Village. Joe Koicim, Logan Markley and Zan Colin of Marcus & Millichap’s Manhattan office marketed the property on behalf of the seller and procured the buyer. Both parties were local private investors. The building comprises 4,708 square feet across four stories. The community includes three apartments, as well as one retail unit occupied by Mary O’s Irish Pub. The sale also included 1,980 square feet …

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Cielo at Normandy in Jacksonville, Florida
FloridaInvestment SalesNewsSoutheast

Black Ridge Purchases 123-Unit Cielo at Normandy in Jacksonville, Florida, from Zavala Capital Group

by Channing Hamilton

JACKSONVILLE, FLA. — Berkadia has brokered the sale of Cielo at Normandy, a 123-unit community located at 1570 Lane Ave. S in Jacksonville. Cielo at Normandy was built in 1974. The community offers a mix of one-, two- and three-bedroom apartments. The average unit size is 933 square feet. Amenities include a pool, clubhouse, laundry facility and playground. Black Ridge purchased the property from Zavala Capital Group for an undisclosed price. Greg Rainey led the Berkadia team in representing the seller in the transaction.

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