Investment Sales

275-Linden-Blvd
Investment SalesNew YorkNewsNortheast

Marcus & Millichap Arranges Sale in Brooklyn for $10.8 Million

by Lynn Peisner

BROOKLYN, N.Y. — Marcus & Millichap has arranged the sale of 275 Linden Boulevard, a 101-unit building in Brooklyn, for $10.8 million. The transaction marks the first time the property has changed hands in approximately 60 years. Shaun Riney and Daniel Greenblatt, investment specialists in Marcus & Millichap’s Manhattan office, marketed the property and represented the unidentified seller. Seth Glasser, also with Marcus & Millichap, procured the buyer, a private family office out of California. Built in 1930, the six-story, 135,714-square-foot property includes three elevators. The building sits on a …

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553-555-Victoria-St_Costa-Mesa_2
CaliforniaInvestment SalesNewsWestern

CBRE Brokers $8.6 Million 1031-Exchange Sale in Costa Mesa

by Lynn Peisner

COSTA MESA, CALIF. — CBRE has arranged the $8.6 million sale of a 13-unit property at 553 and 555 Victoria St. in Costa Mesa, about 40 miles south of Los Angeles. CBRE’s Dan Blackwell, Mike O’Neill and Jack O’Connor represented the Costa Mesa-based private seller. The 1031 buyer is a private investor based in Huntington Beach, California. The property was on the market for the first time in approximately 47 years. Located on a 0.8-acre lot, the property contains 10 buildings with 13,712 square feet of rentable space. The unit …

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NOVO Apartments
Affordable HousingDevelopmentFinanceInvestment SalesNews

Community HousingWorks Completes L.A. Metro Acquisition, Plans Affordable Conversion

by Lynn Peisner

ROWLAND HEIGHTS, CALIF. — Community HousingWorks (CHW) has acquired NOVO Apartments in Rowland Heights and will convert the market-rate property into affordable housing. Northmarq arranged the $38.3 million sale as well as a $24.9 million fixed-rate, affordable-conversion, Freddie Mac acquisition loan for CHW. Stratford Partners Real Estate was the seller. NOVO was constructed in 1974. Additional financing details for the conversion were not disclosed, but CHW often uses its own equity and 4 percent low-income housing tax credits to fund developments, according to nonprofit directory GuideStar. Rowland Heights is about …

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The-Lively-Drayton-Mills
BerkadiaInvestment SalesNews

Berkadia Negotiates $53 Million Spartanburg Sale

by Lynn Peisner

SPARTANBURG, S.C. — Orange Capital Advisors has sold The Lively Drayton Mills in Spartanburg to BridgeGaps Real Estate for $53 million. Senior Managing Directors David Lansbury and Jim Sewell and Managing Director Erika Maston of Berkadia Charleston led the transaction on behalf of the seller. The Lively Drayton Mills is a 297-unit, garden-style property located at 225 Milliken St. that was 92 percent occupied at the time of sale. It was developed in 2023 and features such amenities as a fitness center and pet spa.

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Renaissance-at-Strawberry-Creek
FloridaInvestment SalesNewsSoutheast

NAI Hallmark Brokers Jacksonville Sale

by Lynn Peisner

JACKSONVILLE, FLA. — The Focus Group has sold Renaissance at Strawberry Creek in Jacksonville for $23.4 million to Huber Equity Group. NAI Hallmark Senior Vice President John Rutherford and Vice President Luke McCann brokered the transaction on behalf of the seller and buyer. The 195-unit property was developed in 1969 and was renovated most recently in 2024. Units are offered in floor plans ranging from one to three bedrooms. Renaissance at Strawberry Creek consists of 14 three-story buildings and a clubhouse situated on about 11 acres.

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The Maddux at Shadowood
GeorgiaInvestment SalesNewsSoutheast

Marcus Partners, RPM Investments Buy Asset Near Truist Park in Atlanta

by Lynn Peisner

ATLANTA — Marcus Partners and RPM Investments have acquired The Heights at Shadowood, a 287-unit community in Atlanta, for an undisclosed price. The property, developed in 2023 by the Worthing Cos., is one mile from the mixed-use district known as The Battery and Truist Park, home stadium for the Atlanta Braves. The new owners are planning to rename the community The Maddux at Shadowood. Don Hoffman of CBRE Southeast arranged the sale.

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UplandFlats Thompson Thrift
ColoradoInvestment SalesNewsWestern

Thompson Thrift Sells Upland Flats in Colorado Springs

by Lynn Peisner

COLORADO SPRINGS, COLO. — Thompson Thrift has sold Upland Flats in Colorado Springs to NALS Apartment Homes for an undisclosed figure. Matt Barnett, Dan Woodward, Jake Young and Dave Potarf of Walker & Dunlop brokered the sale. Thompson Thrift began developing the 300-unit community in 2021. Equity for the project was provided by the Watermark 2021 Multifamily Development Fund III LP. Situated on 15.5 acres, Upland Flats’ amenity package includes 24-hour fitness centers, community gardens, dog parks and more.

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Aviara Lake Worth
BerkadiaFloridaInvestment SalesNewsSoutheast

Berkadia Arranges BTR Sale in Palm Beach County

by Lynn Peisner

LAKE WORTH, FLA. — Berkadia has arranged the sale of Aviara Lake Worth, a build-to-rent community in Palm Beach County. The seller was MAG Real Estate & Development of Delray Beach, Florida, and the buyer was Miami-based Corinthian Capital, a Florida-focused commercial real estate investment firm. The sales price was not disclosed. Aviara Lake Worth is a 36-unit townhome community that was built in 2019 on a 3.5-acre site at 3902 Melaleuca Lane in Lake Worth. It consists of three two-story townhome buildings containing 30 three-bedroom units and six four-bedroom …

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River-Lofts
Investment SalesNewsOregonWestern

IPA Arranges $15.9 Million Sale of Suburban Portland Asset

by Lynn Peisner

TUALATIN, ORE. — Institutional Property Advisors (IPA) has arranged the $15.9 million sale of River Lofts, a 74-unit property in Tualatin, about 12 miles south of downtown Portland, Oregon. Next Wave Investors was the seller. The buyer was FPA Multifamily. River Lofts, which was developed in 1974, has been renovated by Next Wave as well as other previous owners. Anthondy  Palladino and Georgie Christensen-Riley of Marcus & Millichap and IPA’s Philip Assouad, Giovanni Napoli, Nick Ruggiero and Ryan Harmon represented the seller and procured the buyer.

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The-Maxwell
Investment SalesNewsTexas

CONAM Group Acquires Asset in Frisco’s Canals at Grand Park

by Lynn Peisner

FRISCO, TEXAS — The CONAM Group has acquired The Maxwell, a 325-unit community in Frisco. The seller and sales price were not disclosed, but StreetLights Residential in partnership with Tricon Capital Group developed the asset in 2018. The Maxwell was acquired through the buyer’s CONAM Strategic Investments Fund IV. CONAM is based in San Diego and acquires, develops, invests in and property-manages multifamily. The Maxwell is located within a master-planned community called the Canals at Grand Park. Units are offered as studios up to three-bedrooms with monthly rental fees ranging from …

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