Investment Sales

Harvard Investment Sells Build-to-Rent Community in Phoenix for $87.9 Million

by Channing Hamilton September 8, 2023

PHOENIX — Harvard Investments has sold FirstStreet Happy Valley, a 212-unit build-to-rent community in Phoenix. Spruce Capital Group, a private family-owned investment firm, acquired the asset for $87.9 million. FirstStreet Happy Valley offers one-, two- and three-bedroom floor plans with attached and detached garages. The average size of the units is 1,904 square feet. Amenities include a dog park and washing station, a pool, spa, fitness center and clubhouse. The property was built two years ago and was 94 percent occupied at the time of sale.

September 8, 2023

Build-to-Rent Development Indiana Investment Sales Midwest News

CenterSquare Acquires 80-Unit Build-to-Rent Development Site in Westfield, Indiana

by Channing Hamilton September 7, 2023

WESTFIELD, IND. — CenterSquare has acquired Casey Corner, an 80-unit build-to-rent community currently under construction in the Indianapolis suburb of Westfield. The final deliveries of the townhome-style units are slated for February 2024. Units average 1,750 square feet with three bedrooms and attached two-car garages. The acquisition of completed homes will occur in stages as the project is built. The seller and purchase price were undisclosed.

September 7, 2023

Investment Sales News Texas

Marcus & Millichap Brokers Sale of Two Communities in San Angelo, Texas

by Channing Hamilton September 6, 2023

SAN ANGELO, TEXAS — Marcus & Millichap has brokered the sale of a portfolio of two multifamily properties — Capri Apartments and Bryant Place — in the West Texas city of San Angelo. William Stover Jr. of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Additional terms of sale were not disclosed. Capri Apartments is located at 608 W Ave M, while Bryant Place is located at 1521 S Bryant Blvd.

September 6, 2023

Arizona Investment Sales News Western

Orion Investment Real Estate Brokers $87.8 Million Sale of Aerie Happy Valley in Phoenix

by Channing Hamilton September 6, 2023

PHOENIX — Orion Investment Real Estate has arranged the sale of Aerie Happy Valley in Phoenix. The buyer and seller were not disclosed, but the asset traded hands for $87.8 million. Aerie Happy Valley comprises 214 apartments in a mix of 55 one-bedroom, 101 two-bedroom and 58 three-bedroom units. Linda Fritz-Salazar and Angelessa Ritchie of Orion Investment Real Estate brokered the transaction.

September 6, 2023

Finance Investment Sales News Texas

Colliers Provides $16.5 Million Acquisition Loan for The Chandler in Grand Prairie, Texas

by Channing Hamilton September 5, 2023

GRAND PRAIRIE, TEXAS — Colliers Mortgage has provided a $16.5 million Fannie Mae acquisition loan for the Chandler, a 164-unit community in Grand Prairie, between Dallas and Fort Worth. Robert Siddall, William Givens, Shawn Givens and Ken Higgins of Colliers Mortgage originated the financing, which features a five-year term and a 35-year amortization schedule. The borrower was Dallas-based private equity firm Reap Capital. The Chandler offers one-, two- and three-bedroom units. Amenities include a pool and a playground.

September 5, 2023

Finance Investment Sales New Jersey News Northeast

Cushman & Wakefield Arranges $97.7 Million in Acquisition Financing for Mountain View Crossing in Wayne, New Jersey

by Channing Hamilton September 5, 2023

WAYNE, N.J. — Cushman & Wakefield has brokered the sale of Mountain View Crossing, a 465-unit community in the New York City suburb of Wayne. The Pomeranc Group acquired the asset from UBS Realty Investors. Mountain View Crossing offers units in studio, one-, two- and three-bedroom floor plans. Amenities include a pool with a subdeck, barbeque area, tennis and basketball courts, a clubroom, fitness center and dog park. Cushman & Wakefield’s Niko Nicolaou, Ryan Dowd, Peter Welch and Mitch Rothstein represented the seller and procured the buyer. Additionally, Cushman & Wakefield’s equity, debt …

September 5, 2023

Colorado Investment Sales News Western

Newmark Brokers $1.4 Million Sale of The Meadows at Castle Rock in Castle Rock, Colorado

by Channing Hamilton September 1, 2023

CASTLE ROCK, COLO. — Newmark has arranged the sale of The Meadows at Castle Rock in Castle Rock. Limelight Mob II acquired the asset from Castle Rock Development Co. for $1.4 million. Hook and Cathy Mcdermott of Newmark represented Limelight Mob II, while Connolly Capital represented Castle Rock. The Meadows at Castle Rock includes 98,881 square feet of land.

September 1, 2023

Berkadia California Investment Sales News Western

Berkadia Arranges Sale of 348-Unit Broadstone Cavorain Laguna Niguel, California

by Channing Hamilton September 1, 2023

LAGUNA NIGUEL, CALIF. — Berkadia Institutional Solutions has brokered the sale of Broadstone Cavora in Laguna Niguel. A California-based investor acquired the property for an undisclosed price. Derrek Ostrzyzek, Rachel Parsons and Tom Moran of Berkadia Irvine, Calif., represented the undisclosed seller in the deal. Broadstone Cavora offers 348 apartments with walk-in closets, private patios and in-unit washers and dryers. Amenities include a resident clubhouse, pool, fitness center, rooftop sun terrace, game room and leisure lawn.

September 1, 2023

Investment Sales News Texas

Knightvest Capital Sells 216-Unit Reagan at Bear Creek in Dallas Suburb

by Channing Hamilton September 1, 2023

EULESS, TEXAS — Knightvest Capital has sold Reagan at Bear Creek, a garden-style community in the Dallas suburb of Euless. The buyer was not disclosed. Reagan at Bear Creek was originally built in 1998 and first acquired by Knightvest Capital in September 2017. The property comprises 216 units. Over the course of six years, the company renovated the community with updates to individual units and amenities. According to Knightvest Capital, the renovated units saw an 80 percent increase in rent over acquisition rates.

September 1, 2023

Florida Investment Sales News Southeast

Marcus & Millichap Brokers $2.9 Million Sale of Lucerne Apartments in Lake Worth, Florida

by Channing Hamilton August 31, 2023

LAKE WORTH, FLA. — Marcus & Millichap arranged the $2.9 million sale of a Lucerne Apartments, a 14-unit apartment property located in Lake Worth. Daniel Cunningham, Evan Richardson, River Rhoads and Dillon Majeski of Marcus & Millichap’s Fort Lauderdale office marketed the property on behalf of the seller, private investor, and secured the buyer, a New York-based private investor. Steve Goldwyn and David Purisch of Marcus & Millichap Capital Corp.’s Fort Lauderdale office arranged $2 million in acquisition financing. The property was built in 1974.

August 31, 2023

Newer Posts

Older Posts