Investment Sales

Cimarron-Apartments-Mesa
ArizonaInvestment SalesNewsWestern

Rockwell Property Co. Acquires Cimarron in Mesa for $33 Million

by Lynn Peisner

MESA, ARIZ. — Chicago-based investment firm Rockwell Property Co. has acquired Cimarron Apartments in the Phoenix suburb of Mesa for $33 million. The seller was a local family that had owned Cimarron as part of a portfolio for approximately 10 years. Built in 1985, the 210-unit garden-style community spans about 5 acres and features gated parking, an interior courtyard, a fitness center, a resort-style pool and hot tub, a dog park and a lawn games area. Rockwell is planning a value-add program that will focus on select unit upgrades and …

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Ventura-VIllas-Tucson
ArizonaInvestment SalesNewsWestern

Northmarq Arranges $32 Million Sale in Tucson

by Lynn Peisner

TUCSON, ARIZ. — Pacific Transwest — Nevada has acquired Ventura Villas in Tucson for $32 million. The seller was an LLC doing business as RDM Tucson. Northmarq arranged the sale, represented the seller. Built in 1989, Ventura Villas features one- and two-bedroom units, averaging 606 square feet. The community features a resort-style pool, a basketball court, a playground and laundry facilities. Northmarq’s Phoenix-based multifamily investment sales team was led by Trevor Koskovich, Jesse Hudson, Ryan Boyle and Logan Baca. Ventura Villas is located at 6200 S. Campbell Ave.

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Reflections-Virginia-Beach
Investment SalesNewsSoutheastVirginia

HGI Buys Virginia Beach Property for $86 Million

by Lynn Peisner

VIRGINIA BEACH, VA. — Affiliates of Harbor Group International (HGI) have acquired Reflections at Virginia Beach for $86 million. The 480-unit garden-style property was built in 1986 and spans 19 two- and three-story buildings across 30 acres. Units are offered as one- and two-bedroom floor plans. The seller was not disclosed. A $7 million renovation was recently completed at Reflections at Virginia Beach, updating amenities including a clubhouse, an outdoor pool, a 24-hour fitness center, a business center with meeting rooms and outdoor grilling stations. HGI is headquartered in Norfolk, …

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The-Quincy-at-Kierland-Scottsdale
ArizonaInvestment SalesNewsWestern

Stockdale Capital Partners Acquires Property in Scottsdale

by Lynn Peisner

SCOTTSDALE, ARIZ. — Stockdale Capital Partners, a Los Angeles-based private equity firm, has acquired The Quincy at Kierland in Scottsdale in an all-cash transaction. The sales price was not disclosed. The seller was EMBREY, the merchant developer that completed construction in 2024. The property is located at 15826 N. Scottsdale Road in the 730-acre master planned community of Kierland. The Quincy at Kierland features a mix of one- and two-bedroom units with stainless steel appliances and washers and dryers. Amenities include a resort-style pool with a pool house and fireside …

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Cove-at-West-Covina
CaliforniaInvestment SalesNewsWestern

Advanced Real Estate Buys L.A. County Asset for $41 Million

by Lynn Peisner

WEST COVINA, CALIF. — Advanced Real Estate has acquired the 138-unit Cove at West Covina for $41 million. The asset was acquired as the first purchase with Advanced’s new opportunity fund. The property features two pools with cabanas, a fitness center, fire pits, garages and an open landscaped area. Advanced plans to complete renovations and upgrades at the property, including the addition of in-unit washers and dryers, new cabinetry, flooring, fixtures, appliances, windows and new paint. These projects will be completed by R3 Construction, which is Advanced Real Estate’s in-house …

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Wrenfield-at-Pleasant-View-Madison
Investment SalesMidwestNewsWisconsin

JVM Realty Acquires Wrenfield at Pleasant View in Madison

by Lynn Peisner

MADISON, WIS. — JVM Realty Corp. has acquired Wrenfield at Pleasant View, a 300-unit community at 8504 Mansion Hill Ave. in Madison. Continental Properties was the seller. Berkadia arranged the transaction. The sales price was not disclosed. Wrenfield at Pleasant View was completed in 2022 and features townhome-style design with private entries across 15 two-story residential buildings. Units are offered as one-, two- and three-bedroom floor plans averaging approximately 1,000 square feet per unit. Amenities include a heated pool, a 24-hour fitness center, a clubhouse with a kitchen, TVs, lounge …

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Ravello-Stonebriar-Frisco
Investment SalesNewsTexas

TruAmerica Buys Ravello Stonebriar in Frisco

by Lynn Peisner

FRISCO, TEXAS — TruAmerica has acquired the 216-unit Ravello Stonebriar in the southwest Frisco master-planned community of Stonebriar. The seller was not disclosed, but the property website indicates a former owner was North American Properties. Built in 2018, Ravello Stonebriar features resort-style amenities, including an integrated smart-home access control system. CBRE’s Daniel Baker, Kevin O’Boyle and Chandler Sims represented the seller in the transaction.

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Provenza-St.-Pete
BerkadiaFloridaInvestment SalesNewsSoutheast

Berkadia Arranges $93 Million Sale in St. Petersburg, Florida

by Lynn Peisner

ST. PETERSBURG, FLA. — Berkadia has arranged the sale of Provenza at St. Pete, which Houston-based Hilltop Residential has acquired and rebranded Palmera Gateway. Momentum Real Estate Partners of Miami was the seller. The asset traded for approximately $93 million. The 308-unit property, 95 percent occupied at the time of sale, was built in 2014 in the Carillon Park mixed-use master-planned development. The garden-style community offers a mix of one-, two- and three-bedroom units ranging from 655 to 1,376 square feet with attached and detached garages available. Amenities include a …

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Davis-Gardens-Pensacola
BerkadiaFloridaInvestment SalesNewsSoutheast

Berkadia Brokers Sale of Two Pensacola Properties

by Lynn Peisner

PENSACOLA, FLA. — Berkadia has arranged the sale of Atwood Oaks and Davis Gardens, two vintage communities totaling 211 units approximately 2 miles apart in Pensacola. Atlanta-based Tioga Capital acquired the 136-unit Atwood Oaks, while an undisclosed LLC out of Cantonment, Florida, purchased the 75-unit Davis Gardens. Berkadia’s David Etchison and Andrea Kendrick led the transaction. Built in 1972, Atwood Oaks at 1857 Atwood Drive comprises  one- and two-bedroom units and such amenities as a pool, a dog park, a courtyard and on-site maintenance. Completed in 1985, Davis Gardens at …

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Atrium-Garden-San-Jose
CaliforniaInvestment SalesNewsWestern

Atrium Garden in San Jose Sells for $18.5 Million

by Lynn Peisner

SAN JOSE, CALIF. — Marcus & Millichap has brokered the sale of Atrium Garden in San Jose for $18.5 million. Neither the buyer’s nor the seller’s identity was disclosed. The 160-unit property offers furnished studio units aimed at short-term rentals for tech-industry workers. Constructed in 2000, Atrium Garden is a four-story building with 159 studios and a one-bedroom manager’s apartment. Studios are furnished with a bed, bedside table and lamp, a lounge chair, a built-in desk and chair, a television, microwave, mini-refrigerator and a stove or hotplate. Amenities include a …

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