Investment Sales

Indianapolis Emerges As ‘Star of the Midwest’

by Channing Hamilton July 17, 2023

CBRE has dubbed the Indianapolis apartment market “The Star of the Midwest” due to a combination of factors: its business-friendly climate, bustling life sciences and technology sectors, and exceptional rent growth. The giant real estate services firm points out in its 2023 Indianapolis Multifamily Market Overview that Indianapolis led the nation in year-over-year effective rent growth in October, November and December 2022 based on data from Yardi Matrix. In December, Indy posted an 11.4 percent increase in effective rents on an annual basis, the only metroplex to produce double-digit year-over-year growth. Despite …

July 17, 2023

Affordable Housing California Investment Sales News Western

BRIDGE Housing Acquires Eaves Daly City Near San Francisco

by Channing Hamilton July 17, 2023

DALY CITY, CALIF. — BRIDGE Housing has acquired Eaves Daly City, a 195-unit community in Daly City, 10 miles south of San Francisco. Built in 1972, the property offers 11 two- and three-story buildings across 8.2 acres. Units come in studio, one-bedroom and two-bedroom layouts. Amenities include a pool, spa and fitness center. BRIDGE Housing plans to preserve at least half of the units in perpetuity for residents earning up to 80 percent of the area’s median income. Currently, the units have no income restrictions. BRIDGE Housing also plans to …

July 17, 2023

Florida Investment Sales News Southeast

Trilogy Real Estate Group Acquires Azalea Apartments Near Tampa, Florida for $85.8 Million

by Channing Hamilton July 17, 2023

BRANDON, FLA. — Trilogy Real Estate Group has acquired Azalea Apartments, a 289-unit community in the eastern Tampa, Florida suburb of Brandon, from ZOM Living for $85.8 million. Azalea Apartments is currently under construction, with the first move-ins slated to begin this quarter. Units come in one-, two- and three-bedroom layouts. Amenities include a pool, fitness center with a spinning studio and yoga lawn, event lawn, gaming area, dog park and pet salon.

July 17, 2023

Staci Court Apartments in Redlands, California

California Investment Sales News Western

Marcus & Millichap Brokers $53.4 Million Sale of Three Properties in Southern California

by Channing Hamilton July 17, 2023

RIALTO, CORONA AND REDLANDS, CALIF. — Marcus & Millichap has arranged the $53.4 million sale of a three-property multifamily portfolio in the Inland Empire region of Southern California. Alexander Garcia and Bill Roblero represented the buyer, Clear Capital LLC. The portfolio includes: Rialto Breeze Apartments, a 98-unit asset in Rialto; Parkview Manor Apartments, a 76-unit property in Corona; and 60-unit Staci Court Apartments in Redlands. Rialto Breeze Apartments was built in 1985 on five acres. The community includes amenities such as a pool and laundry facilities. Parkview Manor Apartments was …

July 17, 2023

California Investment Sales News People News Western

Blake Rogers and Alex Caniglia Return to JLL Capital Markets

by Channing Hamilton July 14, 2023

LOS ANGELES — Blake Rogers and Alex Caniglia have re-joined JLL Capital Markets as multifamily investment sales producers. Rogers will serve as a senior managing director in the Los Angeles office and lead the greater Southern California multifamily team. He will also join the National Multifamily Housing Council. Caniglia will join as a Managing Director in the San Diego office. Both Rogers and Caniglia spent the last three years with Walker & Dunlop, focusing on multifamily investment sales throughout Southern California. Prior to those roles, they both worked at JLL …

July 14, 2023

Arizona Investment Sales News Western

WhiteHaven Acquires Clarendon Park Apartments in Phoenix for $37 Million

by Channing Hamilton July 14, 2023

PHOENIX — WhiteHaven has purchased Clarendon Park Apartments, a 138-unit community in Phoenix, for $37 million. The company rebranded the property as Haven at Midtown. Built in 2002, Haven at Midtown offers studio, one- and two-bedroom units. Amenities include a pool with a grilling area, a gym, internet access, a dog park, garages and covered parking. Greystar will be the property manager for this asset.

July 14, 2023

Investment Sales Nevada News Western

Marcus & Millichap Brokers $76 Million Sale of Vista Ridge Apartments in Reno, Nevada

by Channing Hamilton July 13, 2023

RENO, NEV. — Arthur Vista Ridge has sold Vista Ridge Apartments, a 324-unit asset in Reno, to Tilden Properties and IDEAL Capital Group for $76 million. Kenneth Blomsterberg, Ryan Rife and Daniel Winrod of Marcus & Millichap represented the seller and procured the buyer. Vista Ridge Apartments was built in 1996 on 19 acres. The community offers one-, two- and three-bedroom apartments. Units feature vaulted ceilings, and washers and dryers. Amenities include a fitness center, business center, pool and tennis and basketball courts.

July 13, 2023

Investment Sales News Washington Western

CEP Multifamily Acquires Regal Ridge in Spokane, Washington for $21.5 Million

by Channing Hamilton July 12, 2023

SPOKANE, WASH. — CEP Multifamily purchased Regal Ridge, a 97-unit asset in Spokane’s South Hill neighborhood, from Cooper Street Capital for $21.5 million. Ryan Harmon, Nicholas Ruggiero, Philip Assouad and Giovanni Napoli of Institutional Property Advisors represented the seller and procured the buyer. Regal Ridge was built in 1994 on 4.5 acres. The community offers two- and three-bedroom apartments with features such as washers and dryers, hardwood floors, and private patios or balconies. Amenities include a pool, playground and package room.

July 12, 2023

California Investment Sales News Western

CBRE Arranges $5.5 Million Sale of Three Properties in Orange County, California

by Channing Hamilton July 12, 2023

ORANGE, SANTA ANA AND SAN CLEMENTE, CALIF. — CBRE brokered the sales of three fourplexes in Orange County, California, for a total $5.5 million. Dan Blackwell and Amanda Fielder represented the sellers and procured the buyers in all three transactions. CBRE brokered the sale of 609 S. Cypress St. in Orange for $1.8 million. The buyer was a private investor based in Orange County. The seller was an out-of-state private investor. The property was built in 1966 and offers three two-bedroom units and one three-bedroom unit. Blackwell and Fielder also represented …

July 12, 2023

California Investment Sales News Western

Kidder Mathews Arranges $3.6 Million Sale of Los Angeles Property

by Channing Hamilton July 11, 2023

LOS ANGELES — Kidder Matthews brokered the $3.6 million sale of a property at 4737 Kester Ave. in the Los Angeles neighborhood of Sherman Oaks. Michael Monempour and David Saghian represented the seller, a private investor. The property offers eight units across a 8,600-square-foot site. The community was built in 2014. According to Apartments.com, 4737 Kester Ave. rises three stories and is elevator-serviced. Units come in one-, two- and three-bedroom floor plans.

July 11, 2023

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