SANTA FE, N.M. — Affiliates of Paceline Equity Partners LLC, a Dallas-based private equity manager, have acquired 17 acres of land for the development of a build-to-rent community in Santa Fe. Once completed, the property will feature 183 single-family rental homes. The unnamed development will be Paceline’s first partnership with Verdot Capital, the project’s developer. A construction timeline was not disclosed.
LAGUNA BEACH, CALIF. — CBRE has arranged the sale of Laguna Terrace, a 12-unit property located at 2200 S. Coast Highway in Laguna Beach, roughly 25 miles south of Anaheim, California. The asset traded hands for $5.1 million. Built in 1939, Laguna Terrace consists of four separate buildings across three adjacent lots totaling 0.5 acres. The unit mix includes 10 studios and two one-bedroom apartments. The total rentable space is 4,664 square feet. The community features laundry facilities, three separate storage rooms and a community shower and bathroom. The property …
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $31.5 million sale of an affordable housing building located at 34 W. 139th St. in the Harlem neighborhood of Upper Manhattan. Built in 2007, the property consists of 127 apartments. Victor Sozio, Shimon Shkury, Remi Mandell and Gabriel Elyaszadeh of Ariel represented the undisclosed seller in the deal. Income restrictions for the property, as well as the identity of the buyer, were also not disclosed.
WINTER PARK, FLA. — Hillpointe, a developer headquartered in Winter Park, has appointed Chip Wooten to the role of senior vice president of debt capital markets and asset sales. In this position, Wooten will manage Hillpointe’s portfolio of multifamily developments. He will also be responsible for overseeing debt origination and asset sales at the company. Prior to joining Hillpointe, Wooten served as a first vice president with CBRE’s Institutional Multifamily Group. He began his career as a research analyst and transitioned to business development while working for two institutional investment …
FORT LAUDERDALE, FLA. — Marcus & Millichap has arranged the sale of The Gardens, a 24-unit property in Fort Lauderdale. Built in 1966, The Gardens is a 28,587-square-foot asset located at 2190 NE 51st Court. Units come in one- and two-bedroom layouts. The property traded hands for $6.1 million. Austin Michels, Brandon Rex and Evan Kristol of Marcus & Millichap’s Fort Lauderdale office procured the undisclosed local buyer. The identity of the seller was also not disclosed.
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 …
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 …
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 …
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 …
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 …