Investment Sales

The Reserve at Sugarloaf in Duluth, Georgia.

Cushman & Wakefield Brokers $91 Million Sale of Reserve at Sugarloaf Apartments Near Atlanta

by Channing Hamilton June 15, 2023

DULUTH, GA. — Cushman & Wakefield has brokered the sale of The Reserve at Sugarloaf in the Atlanta suburb of Duluth. Olen Properties acquired the asset for $91 million. Robert Stickel, Alex Brown, Ashlyn Warren and Wesley Lacefield of Cushman & Wakefield arranged the transaction on behalf of the seller, an institutional client of New York Life Real Estate Investors. Built in 2002, The Reserve at Sugarloaf offers 333 units, as well as amenities such as an indoor-outdoor fitness center, pool, pet park, internet café and car care center.

June 15, 2023

Investment Sales Midwest Missouri News People News

Northmarq Selects Dominic Martinez as Managing Director in St. Louis Office

by Channing Hamilton June 6, 2023

ST. LOUIS — Northmarq has promoted Dominic Martinez to the role of managing director in the St. Louis investment sales office. Since joining Northmarq, Martinez Dominic and the St. Louis/Chicago investment sales team have completed the sales of ~9,000 units totaling over $1 billion since 2021. In his new role, he will lead the St. Louis/Chicago team alongside Parker Stewart and Alex Malzone. Prior to joining Northmarq, Martinez served an associate director at Berkadia’s Kansas City office. Martinez received a Master of Accountancy from the University of Missouri.

June 6, 2023

Investment Sales News North Carolina Southeast

Carter Exchange Sells Station at Poplar Tent in Concord, North Carolina

by Channing Hamilton June 6, 2023

CONCORD, N.C. — Carter Exchange Fund Management Co. has sold Station at Poplar Tent, a garden-style community in the Charlotte, North Carolina suburb of Concord, for $74.7 million. The buyer was not disclosed. Carter Exchange took ownership of the property in 2020. During the approximately 2.7-year hold period, the firm renovated unit interiors at the property with features such as smart home packages and updated flooring, as well as installed parcel lockers in the clubhouse. Station at Poplar Tent was 94.9 percent occupied at the time of sale.

June 6, 2023

A 3D render of The River Rapids in Miami, Florida

Development Florida Investment Sales News Southeast

ROVR Development Buys $23.5 Million Site for Development of 10.2-Acre Community in Miami, Florida

by Channing Hamilton June 6, 2023

MIAMI, FLA. — ROVR Development has acquired 6.2 acres in Miami for $23.5 million to build The River Rapids, a 1,600-unit community in Miami. The development site for the property now comprises 10.2 acres. ROVR Development expects to complete The River Rapids in five phases. The first two phases of the project, Tides and Moorings, will deliver 600 units across two buildings. Tides and Moorings are currently under permit approval to move forward on construction. The next three phases will deliver an additional 1,000 units. A development timeline has not …

June 6, 2023

McComber Creek Apartment Homes in Buena Park, California.

California Investment Sales News Western

The REMM Group Acquires 1,000 Units Across Eight Properties in Southern California

by Channing Hamilton June 2, 2023

SANTA ANA, CALIF. — The REMM Group, a property management company headquartered in Santa Ana, has acquired eight Southern California properties totaling over 1,000 units. The largest of the properties is McComber Creek Apartment Homes, a 348-unit community in Buena Park, California. McComber Creek offers studio, one- and two-bedroom apartments, as well as amenities such as a pool and two tennis courts. The other seven properties include: Villa Creek Apartment Homes in Cypress, California; The Jagger in Los Angeles; Pasadena Village Apartment Homes in Tustin, California; Fountain Park Apartment Homes in Buena …

June 2, 2023

Colinas Ranch Apartments in Irving, Texas

Investment Sales News Texas

Eagle Property Capital Investments Sells Colinas Ranch Apartments in Dallas Suburb

by Channing Hamilton May 31, 2023

IRVING, TEXAS — Eagle Property Capital Investments (EPC) has sold Colinas Ranch Apartments, a 160-unit apartment community in the northwest Dallas suburb of Irving, to an undisclosed buyer. The property was built in 1971 and acquired by EPC Multifamily Partners IV, LLC and RealtyMogul 89 in October 2018. EPC renovated the property with updated apartment interiors and common areas, new amenities and water and energy conservation features. According to Apartments.com, the property currently offers one-, two- and three-bedroom units featuring stainless steel or black appliances, granite counter tops, electric fireplaces …

May 31, 2023

Sea Park Apartments in Brooklyn, New York

Affordable Housing Development Investment Sales New York News Northeast

Joint Venture Acquires $150M Sea Park Apartment Complex on Coney Island in Brooklyn, New York

by Channing Hamilton May 31, 2023

BROOKLYN, N.Y. — Tredway, Gilbane Development Co. and ELH Mgmt. have jointly acquired Sea Park Apartments, an affordable community in Brooklyn’s peninsular neighborhood of Coney Island. The sale price was not disclosed, but several media sources are reporting the property traded hands for $150 million. Berkadia and Deutsche Bank are the lenders. ELH Mgmt will serve as property manager. Victor Sozio, Shimon Shkury, Benjamin Vago and Remi Mandell of Ariel Property Advisors arranged the sale on behalf of the undisclosed seller. Sea Park Apartments comprises 816 apartments across three buildings. Of the …

May 31, 2023

The Station at Savannah Quarters in Pooler, Georgia

Georgia Investment Sales News Southeast

Stoneweg US Acquires 244-Unit The Station at Savannah Quarters in Savannah, Georgia Suburb

by Channing Hamilton May 26, 2023

POOLER, GA. — Stoneweg US has acquired The Station at Savannah Quarters, a 244-unit asset located in the Savannah, Georgia suburb of Pooler. Built by Tynes Development 2019, The Station at Savannah Quarters comprises three residential buildings, a leasing center, a clubhouse, four carriage buildings and 34 garage stalls. Units come in one-, two- and three-bedroom floor plans. Stoneweg US plans to renovate the property through an ESG and value-add program, including EV chargers, installation of solar panels to the clubhouse, new pool cabanas and turf installation for cornhole toss. The …

May 26, 2023

700 North 4th Street, a high-rise building in Phoenix.

Arizona Investment Sales News Western

Weidner Apartment Homes Acquires 700 North 4th Street in Phoenix

by Channing Hamilton May 25, 2023

PHOENIX — Weidner Apartment Homes has acquired 700 North 4th Street, a 27-story, 234-unit luxury multifamily asset in Phoenix. Steve Gebing, Cliff David and Peter Katz of Institutional Property Advisors (IPA) represented the undisclosed seller and procured the buyer. Brian Eisendrath, Cameron Chalfant, Jake Vitta and Jesse Zarouk led the IPA Capital Markets team that arranged acquisition financing. 700 North 4th Street offers studio, one-, two- and three-bedroom apartments, as well as amenities such as a fitness center, pool and spa, demonstration kitchen with bar seating, and collaborative and private …

May 25, 2023

Investment Sales News Washington Western

RISE Properties Trust Sells Artesia in Suburban Seattle for $61.6 Million

by Channing Hamilton May 25, 2023

EVERETT, WASH. — MG Properties has purchased Artesia, a 192-unit apartment property in the Seattle suburb of Everett, from RISE Properties for $61.6 million. Giovanni Napoli Philip Assouad, Ryan Harmon, Nicholas Ruggiero and Anthony Palladino of Institutional Property Advisors (IPA) represented the seller and procured the buyer. IPA Capital Markets team Brian Eisendrath, Cameron Chalfant, Jake Vitta and Tyler Johnson arranged the acquisition financing. Built in 1990 and updated between 2018 and 2022, Artesia’s units feature quartz countertops, stainless steel appliances, tile fireplace surrounds and reclaimed wood mantles.

May 25, 2023

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