Investment Sales

Park-Villas-Apartments
Investment SalesMidwestMinnesota

Venture Development Buys Minnesota Active Adult Property

by Lynn Peisner

WAITE PARK, MINN. — Podawiltz Development Corp. has sold Park Villa Apartments in Waite Park, about 70 miles northwest of Minneapolis in the St. Cloud metro area. JLL arranged the sale, representing Podawiltz in the deal, and procured the buyers, Noel Johnson and Jamison Kohout of Venture Development Group. The sales price was not disclosed. The 95-unit active adult community features 71 one-story, cottage-style units and 24 two-story townhome apartments with private garages. Park Villa was constructed in 1991 and renovated in 2008. It sits on about 7 acres.

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Wild-Pines
Affordable HousingBerkadiaFinanceFloridaInvestment SalesNewsSoutheast

Berkadia Arranges Acquisition Financing for Naples, Florida, Deal

by Lynn Peisner

NAPLES, FLA. — Interface Properties has acquired Wild Pines of Naples from an undisclosed seller and undisclosed total sales price. Berkadia arranged $26.6 million in acquisition financing, which includes a $20.6 million senior loan and an additional $6 million supplemental through Freddie Mac. Senior Managing Director Mitch Sinberg, Director Michael Basinski and Managing Directors Scott Wadler, Brad Williamson and Matt Robbins led the Berkadia team. Half of the community’s 200 units are income-restricted, but specifics weren’t disclosed. The property was built in multiple phases between 1968 and 2001. Wild Pines …

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Archstone
Investment SalesNewsWashingtonWestern

AvalonBay Sells Seattle Asset for $63.3 Million

by Lynn Peisner

REDMOND, WASH. — AvalonBay (NYSE: AVB) has sold Archstone Redmond Lakeview Apartments, a 166-unit community in Redmond, 15 miles west of Seattle to TruAmerica. CBRE arranged the $63.3 million sale. Archstone Redmond Lakeview Apartments was built in 1987 on the Lake Sammamish waterfront. The property has one- and two-bedroom units with private patios, walk-in closets and fireplaces. It also has direct access to a private dock with 45 income-generating boat slips. Community amenities include a renovated clubhouse, fitness center, canoe parking, a pet area and an outdoor deck with views …

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The-Preserve-Luxury-Apartments
FloridaInvestment SalesNewsSoutheast

Ownership of The Preserve in Jacksonville Changes Hands

by Lynn Peisner

JACKSONVILLE, FLA. —  Becovic Management Group has sold The Preserve in Jacksonville to Safe Harbor Investments LLC. JLL Capital Markets arranged the sale, representing Becovic in the deal. The sales price was not disclosed. The Preserve, a 192-unit property built in 2024, is comprised of one-, two- and three-bedroom floor plans. Amenities include a resort-style pool with a sun deck, a 24-hour fitness center, coworking spaces with Wi-Fi and a resident lounge with a coffee bar and pet spa.

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M2-at-Millenia
FloridaInvestment SalesNewsSoutheast

JSB Capital, BLD Group Sell Orlando Asset

by Lynn Peisner

ORLANDO, FLA. — JSB Capital Group and BLD Group have sold M2 at Millenia, a 403-unit property in Orlando. JLL Capital Markets, representing the sellers, arranged the transaction. The buyer was Independence Realty Trust. The acquisition cost was not disclosed. Built in 2019, M2 at Millenia is a five-story community consisting of one-, two- and three-bedroom units. Amenities include a resort-style pool, 24-hour fitness center, yoga studio and an entertainment lounge with a kitchen, bar and outdoor grilling areas. M2 at Millenia also includes 4,216 square feet of ground-floor retail …

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The-James
Investment SalesNew JerseyNewsNortheast

Veris Residential Sells The James in New Jersey for $117 Million

by Lynn Peisner

PARK RIDGE, N.J. — CBRE has arranged the $117 million sale of The James in Park Ridge, 27 miles north of Manhattan. Veris Residential was the seller. The buyer’s identity was not disclosed. The CBRE team representing Veris included Jeffrey Dunne, Stuart MacKenzie, Eric Apfel and Travis Langer of CBRE Institutional Properties and Roland Merchant and Tom Pryor of CBRE’s Investment Banking team. Built in 2021, The James consists of 240 units along with approximately 18,000 square feet of ground- floor retail space. Amenities include a fitness center with a …

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Nichols-Park-Apartments
FinanceInvestment SalesNewsTexas

Mesa West Capital Provides $23.4 Million Loan for Acquisition of Austin Property

by Lynn Peisner

AUSTIN, TEXAS — DreamField Capital has secured a $23.4 million first mortgage loan provided by Mesa West Capital for the acquisition of Nichols Park, a 200-unit community in Austin. Thrive FP was the seller. The property, which was built in 1985 and features a mix of one- and two-bedroom units, was 96 percent occupied at closing. Amenities include a community lounge and coffee bar, a barbecue and picnic pavilion, a pool with poolside cabanas, a basketball court and a dog park. Three out of the 200 units have been recently …

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Shiloh-Oaks
FinanceInvestment SalesNewsTexas

Rise48 Buys Shiloh Oaks Near Dallas

by Lynn Peisner

GARLAND, TEXAS — Rise48 Equity has acquired Shiloh Oaks in Garland, 20 miles northwest of Dallas. The seller, represented by Northmarq’s Dallas Multifamily Investment Sales team, was an undisclosed California-based investor. Northmarq also arranged acquisition financing for Rise48. The 248-unit Shiloh Oaks was built in 1983 and features updated kitchens with quartz countertops, smart locks, a pool, fitness center and a playground.

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Lofts-at-Reynolds-Village
Investment SalesNewsNorth CarolinaSoutheast

Lone Star Funds Sells Asheville Asset to Continental Realty

by Lynn Peisner

ASHEVILLE, N.C. — Lone Star Funds has sold the Lofts at Reynolds Village in Asheville to Continental Realty Corp. Financial terms of the transaction were not disclosed. The 201-unit community includes approximately 63,000 square feet of retail space. The transaction was structured as a sale of REIT stock and represents the first disposition from a 42-asset portfolio acquired by Lone Star in September 2022. Walker & Dunlop served as advisors to Lone Star, a private equity firm that invests globally in real estate and other assets. Continental Realty is a …

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Charbern-Seattle
Investment SalesNewsWashingtonWestern

JV Acquires Portfolio in Downtown Seattle for $35.2 Million

by Lynn Peisner

SEATTLE — Vista Investment Group and Sky Alps Capital have acquired a three-property, 215-unit portfolio in downtown Seattle for $35.2 million. The seller was an unnamed local investor and property manager who owned the buildings for about 30 years. JLL arranged a Freddie Mac loan for the buyers. The seller was represented by Dylan Simon, Jerrid Anderson, Matt Laird and JD Fuller of the Seattle office of Kidder Mathews. The portfolio consists of three properties, all of which were developed in the early 20th century and are located within a …

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