Investment Sales

IPA Arranges $106.6 Million Sale of 280-Unit Summerset Village in Los Angeles

by Channing Hamilton November 1, 2023

LOS ANGELES — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Summerset Village in the Chatsworth neighborhood of Los Angeles. An institutional buyer purchased the asset from an undisclosed seller for $106.6 million. Kevin Green, Joseph Grabiec and Gregory Harris of IPA represented the seller and procured the buyer. Summerset Village was built in 1986. The community comprises 280 apartments across 39 two-story buildings. Select units feature fireplaces, patios and direct access garages. Amenities include two pools, two hot tubs, a beach volleyball …

November 1, 2023

Investment Sales News Texas

Cooper Street Capital Purchases 174-Unit South Hill Apartments in San Antonio

by Channing Hamilton October 31, 2023

SAN ANTONIO — Cooper Street Capital has acquired South Hill Apartments, a 174-unit complex in southeast San Antonio. Zar Haro, Moses Siller, Bryan VanCura, Brian Booth and Phil Grafe of Northmarq represented the undisclosed seller in the transaction. South Hill Apartments was built in 1965 and offers one-, two- and three-bedroom units. Amenities include three pools, tennis courts, a playground and a business center.

October 31, 2023

Investment Sales News Oregon Western

JLL Capital Markets Brokers Sale of 141-Unit The Perch PDX in Portland

by Channing Hamilton October 30, 2023

PORTLAND — JLL Capital Markets has negotiated the sale of The Perch PDX, a 141-unit complex in the northern Portland neighborhood of Overlook. JLL represented the seller, Fairfield, and procured the buyer, Green Leaf Capital Partners. Ira Virden, Carrie Kahn and Frank Solorzano led the JLL Capital Markets Investment Sales and Advisory team. The Perch PDX was built in 2020 at 5325 N. Interstate Ave. The property features studio, one- and two-bedroom units with an average size of 648 square feet. Units feature stainless steel appliances, quartz countertops, vinyl plank flooring …

October 30, 2023

Investment Sales News Texas

Marcus & Millichap Brokers Sale of 236-Unit Luna Vista in Fort Worth, Texas

by Channing Hamilton October 30, 2023

FORT WORTH, TEXAS — Marcus & Millichap has negotiated the sale of Luna Vista, a 236-unit complex in Fort Worth. Al Silva and Ford Braly of Marcus & Millichap represented the seller and procured the buyer in the deal. Both parties were locally based investment groups that requested anonymity. The 32-building property was built in 1979 at the intersection of I-30 and Loop 820 on the city’s east side. The new owner plans to implement a value-add program.

October 30, 2023

11821 Stuart Drive in Garden Grove, California

California Investment Sales News Western

CBRE Arranges $2.9 Million Sale of 10-Unit Community in Garden Grove, California

by Channing Hamilton October 30, 2023

GARDEN GROVE, CALIF. — CBRE has negotiated the $2.9 million sale of a 10-unit property in Garden Grove. The building was constructed in 1958 on a 0.3-acre lot at 11821 Stuart Drive. The unit mix consists of three one-bedroom and seven two-bedroom units across two stories. Amenities include a pool, on-site laundry facilities and garage parking. The community was recently renovated with new exterior paint, a new sprinkler system, updated gas lines and new garage doors. CBRE’s Dan Blackwell and Andrew Boukather represented the seller and buyer, both private investors …

October 30, 2023

Development Finance Investment Sales Market Reports Texas

Houston Landlords Fend Off Economic Challenges

by Channing Hamilton October 30, 2023

Houston apartment owners are still navigating through stormy weather, not just because hurricane season has kicked off. A surge in new supply, strains on net operating income (NOI) and capital markets pressures are testing the mettle of Houston developers and investors. “Without a doubt, the big story is all the challenges hitting from every direction: a very tight lending market, stubbornly high construction costs, interest rates and insurance costs,” says Dennis (D.J.) Blanchard, vice president of development and legal affairs with Sueba USA Corp. “Firms have to be well-positioned to …

October 30, 2023

Investment Sales New York News Northeast

Stav Equities Brokers $3.8 Million Sale of Seven-Unit Property in Brooklyn

by Channing Hamilton October 27, 2023

NEW YORK CITY — Stav Equities has negotiated the $3.8 million sale of a seven-unit property located at 10 Clermont Ave. in the New York City borough of Brooklyn. Jacob Stavsky of Stav Equities represented the buyer, Neue Urban, in the off-market transaction. According to LoopNet Inc., the building was constructed in 1915 and comprises 5,240 square feet across four stories.

October 27, 2023

Colorado Investment Sales News Western

MG Properties Purchases 4400 Syracuse Apartments in Denver

by Channing Hamilton October 27, 2023

DENVER — MG Properties has acquired 4400 Syracuse Apartments has acquired 4400 Syracuse Apartments from Morgan Group and LaSalle Investment Management for an undisclosed price. 4400 Syracuse Apartments offers 316 units in Denver’s Denver Tech Center/Southeast Business Corridor. Jordan Robbins and Alex Possick of JLL Capital Markets represented the sellers in the deal. Financing for the transaction was provided by Freddie Mac and arranged by Charles Halladay, Rick Salinas, Brandon Smith and Annie Rice of JLL Capital Markets.

October 27, 2023

Indiana Investment Sales Midwest News

Morgan Properties Acquires 470-Unit Astoria Park Apartments in Indianapolis

by Channing Hamilton October 26, 2023

INDIANAPOLIS — Morgan Properties has acquired Astoria Park Apartments, a 470-unit property in Indianapolis, for an undisclosed price. The community offers amenities such as a pool, fitness center, tennis courts, playground, dog park and pet wash station. Morgan Properties plans to invest $4 million in renovations, including upgrading unit interiors, expanding amenities and integrating smart home technology.

October 26, 2023

Development Georgia Investment Sales News Southeast

JLL Capital Markets Arranges $4 Million for Alice Hall in Savannah, Georgia

by Channing Hamilton October 25, 2023

SAVANNAH, GA. — JLL Capital Markets has arranged $4 million in acquisition financing for Alice Hall, a 14-unit building within Savannah’s historic district. JLL worked on behalf of the borrower, The AltAccom Group, to secure the three-year loan with two one-year extensions from the lender. Jonah Aelyon, Sarah Murphy and Ethan Habecker led the JLL Capital Markets debt advisory team. Built in 2007, Alice Hall offers 14 units across three stories. Units come in two- and three-bedroom floor plans. The AltAccom Group plans to convert the units from term tenancy to short- and …

October 25, 2023

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