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Investment Sales

Residences at Stevens Pond in Saugus, Massachusetts
Investment SalesMassachusettsNewsNortheast

Waterton Acquires 326-Unit Residences at Stevens Pond in Suburban Boston

by Channing Hamilton

SAUGUS, MASS. — Chicago-based Waterton has acquired Residences at Stevens Pond, a 326-unit community in Saugus, approximately 10 miles north of Boston. The seller and sales price were not disclosed. Constructed in 2003, Residences at Stevens Pond consists of 25 three-story buildings, as well as a clubhouse. The community features one-, two- and three-bedroom units, including apartments, lofts and townhomes. Amenities include a pool and spa, outdoor pavilion with fireplace, fitness center, arcade, indoor half-basketball court and golf simulator. The property is surrounded by the Breakheart Reservation, a 652-acre public …

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Parkside Apartments in Redmond, Washington
Investment SalesNewsWashingtonWestern

Lakevision Capital Acquires Parkside Apartments in Seattle Suburb for $286 Million

by Channing Hamilton

REDMOND, WASH. — Lakevision Capital has purchased Parkside Apartments, a 664-unit community located at 15551 NE Turing St. in Redmond, roughly 15 miles east of Seattle. A Texas-based group of investors, previously associated with Lincoln Property Co. Residential and Daiwa House Texas, sold the property for $286 million. Built in 2021, Parkside Apartments spans four buildings on a 4.5-acre site. Apartments come in studio, one- and two-bedroom floor plans. Residents have access to amenities such as two rooftop decks, fitness center, a pet wash station, entertaining suite and game lounge. …

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Affordable HousingDevelopmentFeaturesInvestment SalesNortheastPennsylvania

How Philadelphia is Leveraging Vacant Land to Solve Affordable Housing Shortage

by Channing Hamilton

Last year, developers in Philadelphia built hundreds of new row houses on vacant, city-owned lots. The houses would sell to new homeowners at affordable prices. Many housing advocates say it’s not nearly enough. While new, luxury apartments charge record-high rents in neighborhoods around Center City, other streets in Philadelphia are still lined with vacant lots strewn with trash. As rents rise across the city, Philadelphia’s new mayor, Cherelle Parker, has promised to produce 30,000 new units of affordable housing over four years. That’s more than 8,000 units of housing per …

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32 Ave. A in New York City
Investment SalesNew YorkNewsNortheast

Marcus & Millichap Brokers $5.8 Million Sale of Mixed-Use Building in Manhattan

by Channing Hamilton

NEW YORK CITY — Marcus & Millichap has negotiated the $5.8 million sale of a mixed-use building located at 32 Ave. A in Manhattan’s East Village. Joe Koicim, Logan Markley and Zan Colin of Marcus & Millichap’s Manhattan office marketed the property on behalf of the seller and procured the buyer. Both parties were local private investors. The building comprises 4,708 square feet across four stories. The community includes three apartments, as well as one retail unit occupied by Mary O’s Irish Pub. The sale also included 1,980 square feet …

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Cielo at Normandy in Jacksonville, Florida
FloridaInvestment SalesNewsSoutheast

Black Ridge Purchases 123-Unit Cielo at Normandy in Jacksonville, Florida, from Zavala Capital Group

by Channing Hamilton

JACKSONVILLE, FLA. — Berkadia has brokered the sale of Cielo at Normandy, a 123-unit community located at 1570 Lane Ave. S in Jacksonville. Cielo at Normandy was built in 1974. The community offers a mix of one-, two- and three-bedroom apartments. The average unit size is 933 square feet. Amenities include a pool, clubhouse, laundry facility and playground. Black Ridge purchased the property from Zavala Capital Group for an undisclosed price. Greg Rainey led the Berkadia team in representing the seller in the transaction.

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The Halden in White Plains, New York
Investment SalesNew YorkNewsNortheast

 JLL Capital Markets Arranges Sale of The Halden in White Plains, New York

by Channing Hamilton

WHITE PLAINS, N.Y. — JLL Capital Markets has arranged the sale of The Halden, a 303-unit community located at 1137 Westchester Ave. in White Plains, approximately 30 miles north of Manhattan. JLL’s suburban tri-state capital markets team worked on behalf of the sellers and procured the undisclosed buyer. The Halden was completed in 2023. The five-story community offers a mix of one-, two- and three-bedroom apartments, with an average unit size of 999 square feet. Amenities include a clubroom, conference room, bike storage, café and lounge, fitness center, package concierge, pool and …

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Oaks at Georgetown in Georgetown, Texas
Affordable HousingArizonaCaliforniaColoradoInvestment SalesNew YorkNewsNortheastTexasWestern

Standard Communities Purchases $1 Billion Affordable Housing Portfolio Across Four States

by Channing Hamilton

LOS ANGELES AND NEW YORK CITY — Standard Communities has acquired a portfolio of 60 affordable housing communities totaling roughly 6,000 units for $1 billion. The portfolio consists of traditional multifamily and seniors housing assets in Texas, Arizona, Colorado and California. The undisclosed seller developed many of the properties in roughly 2002. Standard states that it will invest more than $30 million in capital improvements and deferred maintenance across the portfolio. According to the company, no tenants will be displaced during renovations. Standard says negotiations with multiple government agencies, including HUD, Fannie Mae, Freddie …

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Willowbrook Crossing in Westminster, Colorado
ColoradoInvestment SalesNewsWestern

Pinnacle Real Estate Advisors Brokers $13.5 Million Sale of Willowbrook Crossing in Westminster, Colorado

by Channing Hamilton

WESTMINSTER, COLO. — Pinnacle Real Estate Advisors has negotiated the sale of Willowbrook Crossing, a 95-unit community in Westminster. Willowbrook Crossing features 95 apartments in studio and one-bedroom layouts. The community traded for $13.5 million. Josh Newell and Jake Waxter of The Newell Team at Pinnacle Real Estate Advisors represented the undisclosed seller and the undisclosed buyer in the deal.

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200-206 Franklin Street in Cambridge, Massachusetts
Investment SalesMassachusettsNewsNortheast

Marcus & Millichap Arranges $2.8 Million Sale of 7-Unit Asset in Cambridge, Massachusetts

by Channing Hamilton

CAMBRIDGE, MASS. — Marcus & Millichap has brokered the sale of a 7-unit property located at 200-206 Franklin Street in Cambridge for $2.8 million. Built in 1915, the building rises three stories and offers a mix of onei and two-bedroom units. Tony Pepdjonovic and Evan Griffith exclusively marketed the property on behalf of the seller and procured the buyer. Neither party’s identity was disclosed.

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The Vine on NE 35th Street in Miami
FloridaInvestment SalesNewsSoutheast

Marcus & Millichap Arranges $15.1 Million Sale of Development Site in Miami

by Channing Hamilton

MIAMI — Marcus & Millichap has arranged the sale of The Vine on NE 35th Street, a 36,000-square-foot development site located at 404-436 NE 35th Street in the Edgewater district of Miami. The asset traded hands for $15.1 million.  The Vine on NE 35th Street spans six parcels. The site is under Miami 21’s T6-36A designation and allows for up to 124 residential units or 248 hotel units.  Ryan Shaw of Marcus & Millichap’s Miami office exclusively marketed the property on behalf of the seller, G&L Associates at 35th Street …

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