PLEASANT VALLEY, N.Y. — Marcus & Millichap has arranged the sale of Pleasant Valley Estates, a 48-unit community in Pleasant Valley within the Hudson Valley of New York. The asset traded hands for $6.8 million. Jim Evans, Scott Wasserberger and Victoria Fisher marketed the property on behalf of the seller, a partnership, as well as secured the buyer, a private investor. Pleasant Valley Estates was built in 1985. The property comprises three residential buildings, parking for 100 cars and a pond on a 9.9-acre site.
TAMPA, FLA. — Carter Multifamily, a division of Carter Funds, has acquired Solis at Ballast Point for $57.5 million. Located at 6306 S. MacDill Avenue in Tampa, Solis at Ballast Point is a 276-unit garden-style property that was originally built in 1988. The asset offers 218,592 rentable square feet on a 21.5-acre site. Amenities include a pool, pet park and a private lake. Carter Multifamily plans to renovate the property with upgrades to community amenities and unit interiors, as well as exterior building improvements. The community will be rebranded to “Mode …
KERRVILLE, TEXAS — Matthews Real Estate Investment Services (Matthews) has arranged the sale of Sidney Baker Apartments, a 60-unit complex in Kerrville. Kerrville is located about 65 miles northwest of San Antonio. Tyler Marshall represented the buyer in the transaction. Neither the buyer nor seller were disclosed. Units come in one-, two- and three-bedroom layouts. Amenities include a pool and a pet park.
BOSSIER CITY, LA. — RCMI has purchased Stockwell Landing Apartments, a complex in the Shreveport, Louisiana suburb of Bossier City. John Hamilton, Will Balthrope and Drew Garza of Institutional Property Advisors represented the seller and procured the buyer. Steve Greer is Marcus & Millichap’s broker of record in Louisiana. Built in 2005 on 11.5 acres, Stockwell Landing Apartments offers 241 units. According to Apartments.com, units come in one-, two- and three-bedroom floor plans.
BROOKLYN, N.Y. — A joint venture between The Carlyle and Z+G Property Group has acquired 8 Marcy Ave., an eight-story building in the Brooklyn neighborhood of Williamsburg, from Prospect Development for $97.5 million. JLL Capital Markets brokered the deal. The building was delivered in January. The community offers studio, one- and two-bedroom floor plans. Of the total 123 units, 37 are affordable. Income restrictions for these units were not disclosed. The JLL Capital Markets Investment Sales and Advisory team representing the seller included Ethan Stanton, Jeffrey Julien, Brendan Maddigan, Stephen Palmese, …
PFLUGERVILLE, TEXAS — Newmark has brokered the sale of Autumn Ranch on Swenson Farms, a 336-unit community located in the Austin suburb of Pflugerville. Patton Jones and Andrew Dickson represented the seller, MIG Real Estate. Knightvest Capital acquired the asset. Autumn Ranch on Swenson Farms was built in 2008 on a 16.9-acre site. Units come in one- and two-bedroom layouts with an average size of 1,041 square feet. Amenities include a pool, clubhouse, fitness center, dog park and package lockers. Additionally, 133 units were recently renovated with new flooring, interior paint, light …
ORANGE, CALIF. — CBRE arranged the $1.6 million sale of a four-unit community located at 224 S. Oak St. in Orange. Dan Blackwell, Sean Farag and Amanda Fielder represented the Orange County-based 1031 exchange seller in the sale of the asset. The fourplex was built in 1957 on a 10,809-square-foot site. The property offers one- and two-bedroom units, as well as four garage parking spaces and four tandem spaces.
PHOENIX — CBRE has arranged the sale of Clarendon Park, a 138-unit community in Phoenix. WhiteHaven, a Phoenix-based private equity firm, purchased the property for $37 million. Matt Pesch, Austin Groen, Jeff Seaman and Bryson Fricke represented the seller. Anthony Valenzuela of CBRE Phoenix Debt & Structure Finance arranged the deal’s financing. Clarendon Park offers a one- and two-bedroom apartments. Community amenities include a recently renovated fitness center, remodeled clubhouse and leasing center, pool area, new package lockers and a dog park.
TAMPA, FLA. — Trilogy Real Estate Group has purchased Azalea Apartments, a 289-unit community currently under construction in the Tampa neighborhood of Brandon, for $85.8 million. ZOM Living sold the asset to Trilogy Real Estate Group and will continue to manage its construction through completion. The property is in a qualified opportunity zone and benefits from the provisions of the 2017 Tax Cuts and Jobs Act. Azalea Apartments will offer one-, two- and three-bedroom apartments, with the first move-ins expected to begin this quarter. Each unit includes energy-efficient, stainless steel …
DENVER — Avanti Residential has selected Richard Bennion as Managing Director. In this role, Bennion will be responsible for strategic growth and institutional capital relationships. Bennion most recently worked at PEF Advisors, where he led the capital formation of a $100 million fund focused on affordable housing and was a member of the company’s senior leadership team and investment committee. Prior to joining PEF Advisors, he worked at Carmel Partners. Bennion received a Bachelor of Science in Manufacturing Engineering from Brigham Young University and an MBA from Harvard Business School.