Investment Sales

Alderra-Apartment-Homes-Puyallup
Investment SalesNewsWashingtonWestern

CBRE Arranges $56.5 Million Sale in Puyallup, Washington

by Lynn Peisner

PUYALLUP, WASH. — Auctus Capital Partners has sold Alderra Apartment Homes for $56.5 million to an undisclosed buyer. The 200-unit community in Puyallup, about 15 miles southeast of Tacoma, was built in 2003 and includes one- and two-bedroom apartments as well as townhomes. Amenities include a pool, fitness center, a clubhouse and a playground. CBRE’s Eli Hanacek, Mark Washington, Kyle Yamamoto and Natalie Kasper represented the seller. The buyer was an entity doing business as AMFP VII Alderra LLC, according to regional lifestyle magazine South Sound.

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rosemont-st-johns-Jacksonville
FloridaInvestment SalesNewsSoutheast

American Landmark Buys Rosemont St. Johns in Jacksonville

by Lynn Peisner

JACKSONVILLE, FLA. — American Landmark Apartments has acquired Rosemont St. Johns, a 420-unit property in Jacksonville that was built in 2007. The seller and sales price was not disclosed. Situated at 12310 Seacrest Lane, Rosemont St. Johns offers one-, two- and three-bedroom units and amenities such as a resort-style pool with a sundeck, a clubhouse with a resident lounge and entertainment kitchen, a 24-hour fitness center, outdoor grilling and picnic areas and a dog park. The company says the community will be rebranded. American Landmark is based in Tampa and …

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Agave-Ridge-PHX
ArizonaInvestment SalesNewsWestern

29 Street Capital Acquires North Phoenix Asset

by Lynn Peisner

PHOENIX — Chicago-based multifamily investment firm 29th Street Capital has acquired Urban 148 in Phoenix. The 148-unit property will be rebranded as Agave Ridge Apartments, and 29th Street Living will handle property management. According to Apartments.com, the community offers two- and three-bedroom floor plans at monthly asking rents ranging from $1,425 to $1,655 and such amenities as a pool, a playground, a courtyard and a dog park. The seller and sales price were not disclosed.

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The-Arbors-at-Brighton-Park-Bloomfield
ConnecticutInvestment SalesNewsNortheast

Paredim Communities Sells Arbors at Brighton Park in Connecticut

by Lynn Peisner

BLOOMFIELD, CONN. — Institutional Property Advisors (IPA) has arranged the sale of The Arbors at Brighton Park, a 132-unit community in Bloomfield, about six miles northwest of Hartford, Connecticut. IPA’s Victor Nolletti, Eric Pentore and Wes Klockner, represented the seller, Paredim Communities, and procured the buyer, Beachwold Residential LLC. The Arbors at Brighton Park was completed in 2017 and features controlled access, a clubhouse with a coffee bar, grills and verandas. The unit mix includes one-, two- and three-bedroom floor plans, all of which have full-size washers and dryers, walk-in …

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san-juan-del-centro-boulder-Colo
Affordable HousingColoradoInvestment SalesNewsWestern

Jonathan Rose Cos. Buys Boulder Affordable Housing Community, Extends Rent Restrictions

by Lynn Peisner

BOULDER — New York City-based investment firm Jonathan Rose Cos. has acquired San Juan del Centro Apartments in Boulder from Related Cos. for $56 million. Jeff Irish and Jordan Skyles from Berkadia Real Estate Advisors arranged the sale of the Section 8 and LIHTC property. Berkadia also provided an acquisition loan. Additionally, the capital stack included equity from the $660 million Rose Affordable Housing Preservation Fund VI. San Juan del Centro’s 150 units are reserved for families earning at or below 60 percent of area median income. Jonathan Rose Cos. …

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TLC-Buford
FinanceGeorgiaInvestment SalesNewsSoutheast

Walker & Dunlop Arranges $352 Million in Sales, Acquisition Financing for Two Metro Atlanta Assets

by Lynn Peisner

ATLANTA — Walker & Dunlop has arranged $352 million for the total acquisition financing and sale of Town Laurel Crossing and Manor Barrett, two communities in the Atlanta metro area that were developed in 2024 by Related Group. The 360-unit Town Laurel Crossing, which was rebranded as Timberline View following the acquisition, is located in Buford, 38 miles northeast of Atlanta. Manor Barrett, now known as The Row at Barrett, is a 347-unit community in Kennesaw, 29 miles northwest of Atlanta. Walker & Dunlop’s team that arranged the sales of …

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Residences-on-16th-Naples
FloridaInvestment SalesNewsSoutheast

Sharp Key Capital Buys Naples Asset for $12.5 Million

by Lynn Peisner

NAPLES, FLA. — Sharp Key Capital has acquired Residences on 16th in Naples from Opus Reserve LLC for $12.5 million. Marcus & Millichap’s Sam Ferguson, Ned Roberts and Jason Hague represented Opus in the transaction. Residences on 16th is located at 5194 16th Place Southwest on a 5-acre site comprising 16 two-story buildings. The 63-unit community offers primarily two-bedroom apartments, with one three-bedroom unit and one studio. Recent capital improvements include kitchen and bathroom upgrades in most of the units and a new roof that was installed in 2019.

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Montecito-Houston
Investment SalesNewsTexas

Atlantic Pacific Buys Montecito in Houston

by Lynn Peisner

HOUSTON — Blue Atlantic Partners, an affiliate of Atlantic Pacific Cos., has acquired Montecito Apartments in Houston’s Uptown-Galleria neighborhood. The 299-unit property offers a mix of one-, two- and three-bedroom floor plans ranging from 669 to 2,091 square feet. The community’s amenities include a pool, fitness center, clubhouse and a multi-level parking garage. The new owner will manage the property and also is planning a multi-million-dollar renovation including interior upgrades with quartz countertops, amenity enhancements and exterior improvements. With this purchase, Atlantic Pacific’s Texas portfolio consists of 33 properties, totaling …

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Glenbrooke-Sarasota
FloridaInvestment SalesNewsSoutheast

Franklin Street Arranges Sale of Glenbrooke in Sarasota, Florida

by Lynn Peisner

SARASOTA, FLA. — Trinity Property Group has acquired Glenbrooke Apartments in Sarasota for $10.8 million. The seller was an entity doing business as RGMD LLC. Franklin Street arranged the sale, representing the buyer in the transaction. The 40-unit property was built in 1994. Trinity is planning interior renovations for about half the property as well as upgrading amenities and curb-appeal details during its hold period. The property features a pool, gazebo and a clubhouse.

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University-Village-Azusa
CaliforniaInvestment SalesNewsStudent HousingWestern

Legacy Partners, PGIM Buy SoCal Student Housing for $92 Million, Plan Market-Rate Conversion

by Lynn Peisner

AZUSA, CALIF. — Legacy Partners and PGIM have acquired University Village in Azusa, about 20 miles east of downtown Los Angeles, for $92 million. The 320-unit property sits directly across the street from Azusa Pacific University, which was the seller and had formerly been using the community as a residence hall for students. Mesa West Capital provided a $68.5 million loan to buy the property and finance the conversion of the asset from student housing into a traditional multifamily community, which will include a light value-add program. The new owners …

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