Investment Sales

Oviedo-Oaks-Village
FloridaInvestment SalesNewsSoutheast

Marcus & Millichap Arranges Suburban Orlando Sale

by Lynn Peisner

OVIEDO, FLA. — Marcus & Millichap has arranged the $7.8 million sale of Oviedo Oaks Villas, a 44-unit property in Oviedo, 18 miles northeast of Orlando. The undisclosed seller had owned the community for more than 30 years. The buyer was an unnamed, New York-based family office. The property, located at 1080-1126 Laurel Oaks Court on about 8 acres, features 22 one-story buildings, and each unit is a three-bedroom floor plan. Marcus & Millichap’s Matt Prozzillo, Ray Turchi and David Vaughan represented the seller and procured the buyer.

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Park-Tower
ArizonaInvestment SalesNewsWashingtonWestern

TruAmerica Acquires Park Tower in Metro Phoenix

by Lynn Peisner

CHANDLER ARIZ. — Los Angeles-based investment firm TruAmerica has acquired Park Tower in the Phoenix suburb of Chandler. The community is comprised of 180 garden-style units built in 1986 and 77 townhomes built in 2017. TruAmerica is planning to execute a value-add strategy with renovations and a rebranding, changing the name to Parklane Commons. Chris Canter, Brad Goff and Brett Polachek of Newmark along with Dan Cheyne of Berkadia brokered the off-market transaction, and Mitch Clarfield, Meghan Varga and Garrett Swanky of Newmark arranging the financing. The seller and sales …

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Harvest-Station-Broomfield
ColoradoInvestment SalesNewsWestern

Four Peaks Buys Denver-Area Property for $85 Million

by Lynn Peisner

BROOMFIELD, COLO. — Hamilton Zanze has sold Harvest Station in Broomfield, 17 miles north of Denver. According to the Denver Business Journal, Four Peaks Multifamily Partners bought the property, developed in 2014, for $85 million. San Francisco-based Hamilton Zanze bought the property in 2016. Situated at 11775 Wadsworth Blvd., Harvest Station features 119 one-, two- and three-bedroom units. Amenities include a resort-style pool and hot tub, grilling stations, an outdoor fireplace and TV lounge, a clubhouse with a gaming lounge, a business center, a dog park and dog wash and …

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El-Paseo
Affordable HousingInvestment SalesNew MexicoNewsOregonWestern

Guardian Buys $497 Million Post-Compliance LIHTC Portfolio, Extends Affordability

by Lynn Peisner

PORTLAND, ORE. — Portland-based multifamily operator, developer and investor Guardian has acquired a portfolio of 15 affordable housing communities in Oregon and New Mexico, each of which has reached the end of its 15-year LIHTC compliance period. Guardian will convert a portion of the portfolio’s market-rate units to be rent capped at 60 percent of area median income. The acquisition was completed in two separate phases. The first phase included two Portland-area properties totaling 310 units, acquired with capital partner AEW. The second phase included 13 properties and 2,740 units …

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6254-N.-Whipple-St
IllinoisInvestment SalesMidwestNews

Interra Brokers $3.15 Million Sale in Chicago’s West Ridge Neighborhood

by Lynn Peisner

CHICAGO — Interra Realty has brokered the $3.15 million sale of 6254 N. Whipple St. in Chicago. The 16-unit apartment building, which was fully occupied at the time of the sale, was developed in 1931 and renovated in 2023. The $3.15 million sales price equated to $196,875 per unit. Interra Senior Managing Partner Brad Feldman represented the buyer and seller, both of whom are Chicago-based private investors. The seller acquired the asset in 2023 for $1.8 million, and, at that time, the property had not traded in more than 50 years. …

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Circ-Tucson
ArizonaInvestment SalesNewsWestern

IPA Brokers Tucson Sale

by Lynn Peisner

TUCSON, ARIZ — Institutional Property Advisors (IPA) has arranged the sale of CIRC Tucson, a 368-unit property in the Casas Adobes neighborhood of Tucson. IPA’s Clint Wadlund, Hamid Panahi, Steve Gebing and Cliff David represented the seller and procured the buyer. Neither party was named. Completed in 1986 on 17 acres, CIRC Tucson is a gated, two-story, garden-style property with two pool areas, a fitness center, package lockers and electric vehicle charging stations.

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The-Haywood-Greenville
Affordable HousingInvestment SalesNewsSouth CarolinaSoutheast

Comunidad Partners Buys The Haywood in Greenville

by Lynn Peisner

GREENVILLE, S.C. — Comunidad Partners, an Austin, Texas-based workforce housing investment firm, has acquired The Haywood, a 234-unit property located at 100 Gloucester Ferry Road in Greenville. The seller and sales price were not disclosed. Comunidad is planning renovations that will update interiors, improve curb appeal and upgrade amenities.

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2609-Elliot-Avenue
Investment SalesNewsSoutheastVirginia

8th Floor Holdings Buys Virginia Townhome Portfolio for $3.3 Million

by Lynn Peisner

PORTSMOUTH, VA. — Cushman & Wakefield | Thalhimer’s Capital Markets Group has arranged the sale of a two-property portfolio in Portsmouth. The properties are 311-315 North Street, with 11 townhouses, and Beacon Townhomes, with 18 units located at 2609 Elliott Ave. 8th Floor Holdings LLC acquired the assets from Beacon Townhomes LLC for $3.3 million as part of a 1031 exchange. Clark Simpson and Erik Conradi of Thalhimer’s Capital Markets Group in Virginia Beach represented the seller.

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700-Locust-Pasadena
CaliforniaInvestment SalesNewsWestern

Pasadena Property Trades for $22 Million

by Lynn Peisner

PASADENA, CALIF — CBRE has brokered the $22 million sale of ALUR Apartments, a 51-unit community located at 700 Locust St. in Pasadena. The property was acquired by ADC Real Estate Group LP, an affiliate of Amoroso Cos. CBRE’s Kamran Paydar and Kadie Presley Wilson represented the seller, a private Los Angeles-based investor. Ryan Greer, Trevor Breaux and Troy Tegeler with CBRE’s debt and structured finance division arranged acquisition financing on behalf of the buyer. Built in 1987 and renovated in 2021, ALUR consists of a mix of one- and …

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Cypress-Point
CaliforniaInvestment SalesNewsWestern

IPA Brokers $100 Million Sale of Ventura County Asset

by Lynn Peisner

VENTURA, CALIF. — Raintree Properties has acquired Cypress Point, a 268-unit property in Ventura, for $100 million. County Center LP was the seller, and Institutional Property Advisors (IPA) arranged the sale. The transaction equates to $373,134 per unit. The property has been owned by the seller, who was the original developer, since 1990. Cypress Point is situated on 14 acres and includes 28 two-story buildings, a barbecue and picnic area, a fitness center, a clubhouse and covered parking. First-floor units feature nine-foot ceilings, and second-floor units have 12-foot vaulted ceilings. …

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