AUSTIN, TEXAS — Newmark has brokered the sale of South Congress Commons, a 68-unit complex located north of downtown Austin. An affiliate of locally based owner-operator Narrow Road Group purchased the asset from Firm Capital for an undisclosed price. Chase Easley of Newmark represented the seller in the deal. Anthony Tarter, also with Newmark, arranged an undisclosed amount of acquisition financing on behalf of the buyer. Situated in Austin’s city’s South Congress area, the property features studio and one-bedroom units. Amenities include a dog park, courtyard, outdoor grilling and dining …
ESCONDIDO, CALIF. — CBRE has brokered the sale of a property at 419 W. 4th Ave. in Escondido. Dan Blackwell and Amanda fielder represented the San Diego-based seller in a 1031 exchange. The buyer was based in Orange County, California. Built in 1981, the building rises two stories on 0.17 acres near Escondido’s historic downtown area. The community consists of three one-bedroom units, two two-bedroom units and an on-site laundry facility. The property underwent exterior renovations, including a new roof, earlier this year.
SHREVEPORT, LA. — Marcus & Millichap has arranged the sale of Olde Salem Village, a 200-unit community in Shreveport. Continental Foundation Inc. sold the asset to an entity doing business as Thara Properties LLC for an undisclosed price. John Hamilton, Bryan Sisk and David Dorris of Marcus & Millichap represented the seller in the deal. Olde Salem Village was built in 1984 on 14.5 acres. Amenities include a clubhouse, pool and a basketball/tennis court.
SANTA ROSA BEACH, FLA. — Olympus Property has acquired Primrose, a 288-unit community in Santa Rosa Beach. The seller and sales price were not disclosed. Built in 2022, Primrose offers one-, two- and three-bedroom apartments and townhomes. Units feature quartz countertops, tile backsplashes, wood-style flooring and full-size washers and dryers. Amenities include two pools with cabanas, a poolside entertainment deck, gaming lawn, cardio and flex gym and a resident lounge. The property to located in proximity to several of Florida’s Emerald Coast key attractions, including Grand Boulevard at Sandestin, 30A …
CAMPBELL AND UNION CITY, CALIF. — Interstate Equities Corp. (IEC) has acquired two properties in northern California for a total $41.4 million. Additionally, IEC plans to implement a value-add program for both properties, including renovations and safety improvements. IEC bought Appletree, a 72-unit property in Campbell, from Cambridge Management Cos. for $26.4 million. Built in 1971, Appletree is situated within the West Campbell neighborhood. The company also acquired Summerhill Place in Union City for $15 million through an off-market process. Summerhill Place was built in 1986 and offers 60 units on …
LYNNWOOD, WASH. — Interstate Equities Corp. (IEC) has acquired Augusta Glen, a 121-unit property in the northern Seattle suburb of Lynwood, for $28.3 million. IEC purchased the asset from a long-term family ownership group in an off-market transaction. Built in 1990, Augusta Glen is adjacent to Route 99 and proximate to the I-5 / I-405 intersection, the main North-South artery in the Seattle MSA. The new owner plans to renovate the community and improve safety features.
COLORADO SPRINGS, COLO. — Capstone has negotiated the $1.3 million sale of Canyon Retreat Apartments, a 5,252-square-foot property in Colorado Springs. Adam Riddle and Conor Cavanor of Capstone brokered the deal. The seller is a long-standing client of Capstone and had owned this property since 2015. The buyer was not disclosed. Canyon Retreat Apartments comprises eight units across two buildings, located at 3737 and 3746 Red Canon Place. Units come in studio and one-bedroom floor plans.
MIDLAND, TEXAS — Institutional Property Advisors, a division of Marcus & Millichap, has arranged the sale of The Clusters, a 352-unit asset in Midland. Churchill Forge acquired the asset from an out-of-state partnership. IPA’s Will Balthrope and Drew Garza, in conjunction with Tommy Lovell and Richard Robson of Marcus & Millichap, represented the seller and procured the buyer. Built in 1982 on 14 acres, The Clusters offers amenities such as basketball, racquetball, volleyball and tennis courts, walking trails and a pool. Units feature washers and dryers, fireplaces and a balcony or …
TAMPA, FLA. — Berkadia has arranged the sale of Berkshires at Citrus Park, a 264-unit community in Tampa’s Citrus Park submarket. Berkshire Residential sold the property to Nuveen Real Estate for an undisclosed price. Matt Mitchell, Jason Stanton and Bailey Smith of Berkadia represented the seller in the deal. Situated at 6201 Gunn Highway, Berkshires at Citrus Park offers amenities such as a pool with a sun deck, fitness and cardio center, clubhouse with business center, gated access, lake with fountain and fishing pier, two dog parks and a picnic …
JERSEY CITY, N.J. — CBRE and Cushman & Wakefield have brokered the $58 million sale of Harborside 4, a 1.3-acre site located at 20 Christopher Columbus Drive in Jersey City. Veris Residential sold the lot to Related Cos., which plans to develop an 800-unit high-rise building. Additional details about the project were not disclosed. Jeff Dunne, Bill Shanahan and Roland Merchant of CBRE co-brokered the deal in coordination with Cushman & Wakefield’s Andy Merin, David Bernhaut, Gary Gabriel, Frank DiTommaso, Ryan Dowd and Brian Whitmer.