Monday, October 28, 2024
Read the Digital Magazines Subscribe to the Newsletter

Investment Sales

The pool at Grove at Temple Terrace
FloridaInvestment SalesNewsSoutheast

29th Street Capital Buys Tampa Property for $26.6 Million

by Lynn Peisner

TAMPA, FLA. — Cushman & Wakefield has arranged the $26.6 million sale of Grove at Temple Terrace in Tampa. The 180-unit property was acquired by Infinity BH and sold by 29th Street Capital. Nick Meoli and Mike Donaldson of Cushman & Wakefield represented the seller in the transaction. According to Meoli, lease tradeouts at Grove at Temple Terrace average 17.4 percent. The average unit size is 1,104 square feet. Amenities include a pool, a tennis court, a clubhouse with a complimentary coffee bar and gated access.

Continue Reading
0 FacebookTwitterLinkedinEmail
AlabamaInvestment SalesNewsSoutheast

Marcus & Millichap Brokers Huntsville-Area Sale

by Lynn Peisner

ATHENS, ALA. — Marcus & Millichap has arranged the sale of Creekside Athens, a 98-unit property in Athens, which is located about 28 miles northwest of Huntsville, Alabama. Creekside Athens has 10 acres of additional land zoned for 120 more multifamily units. Marcus & Millichap’s Josh Jacobs and Royce Emerson marketed the property on behalf of the seller, a limited liability company. The buyer and sales price were not disclosed. Constructed in 2021, Creekside Athens has two- and three-bedroom floor plans with sunrooms, walk-in closets, patios and porches. Amenities include …

Continue Reading
0 FacebookTwitterLinkedinEmail
One of six properties sold in LA county in May 2023
CaliforniaInvestment SalesNewsWestern

Los Angeles 155-Unit Portfolio Sells for $53.6 Million

by Lynn Peisner

LOS ANGELES — JLL Capital Markets has arranged three separate transactions for the sale of six assets in Los Angeles County totaling $53.6 million. Five properties are located in the San Fernando Valley and one is in West Los Angeles. JLL worked on behalf of the seller, a corporate fiduciary acting on behalf of an LLC. There were three buyers whose identities were not disclosed. All three buyers assumed existing debt on the assets. The JLL Capital Markets investment sales and advisory team representing the seller was led by Managing …

Continue Reading
0 FacebookTwitterLinkedinEmail
Investment SalesNewsTexas

Harbor Group International Acquires Mezzo in North Dallas Suburb

by Channing Hamilton

AUBREY, TEXAS — Harbor Group International has purchased Mezzo, a 378–unit property in the north Dallas suburb of Aubrey, from an undisclosed seller. Henry Stimler, Bill Weber and Matt Mense of Newmark arranged the debt. Brian Murphy and Brian Oboyle, also with Newmark, brokered the sale. Mezzo was built in 2022 and comprises 12 three-story buildings. Community amenities include a fitness center, yoga studio, pool and spa, co-working spaces, a lounge and an outdoor kitchen with a dining area. Individual units offer washers and dryers, quartz countertops and balconies or patios. Mezzo was 84 percent occupied as …

Continue Reading
0 FacebookTwitterLinkedinEmail
Oxford Hills in St. Louis
Investment SalesMidwestMissouriNews

Cushman & Wakefield Rep Harbor Group in St. Louis Disposition

by Lynn Peisner

ST. LOUIS — Cushman & Wakefield’s Midwest multifamily team has arranged the sale of Oxford Hills in St. Louis for an undisclosed price. Matt Stephens, Hannah Ott and George Tikijian represented the seller, Harbor Group International, in its transaction with FPA Multifamily, a San Francisco-based multifamily investor. The property includes 480 units in one-, two- and three-bedroom configurations. Amenities include a resort-style pool, a clubhouse, playground, tennis courts and garage and storage areas. According to Apartments.com, the property is now called ReNew on Lindbergh and rents range from $980 to …

Continue Reading
0 FacebookTwitterLinkedinEmail
The pool at Urbana Court, a multifamily property in Brooklyn Park.
Investment SalesMidwestMinnesotaNews

Turner Impact Capital Acquires Urbana Court in Minneapolis Suburb

by Channing Hamilton

BROOKLYN PARK, MINN. — Trident Development has sold Urbana Court to Turner Impact Capital for an undisclosed price. Urbana Court is a 207-unit community in the northern Minneapolis suburb of Brooklyn Park. Dan Linnell, Mox Gunderson, Josh Talberg and Adam Haydon of JLL Capital Markets represented the seller in the transaction. Urbana Court was completed in 2021. Located in Brooklyn Park’s Twin Cities medical alley, the property offers studio, one- and two-bedroom units. Community amenities include a pool with a pool house, fitness center, pickleball courts and a dog park.

Continue Reading
0 FacebookTwitterLinkedinEmail
Loma Villas
CaliforniaDevelopmentInvestment SalesNewsWestern

The Mogharebi Group Arranges $21.5 Million Sale of New Asset in San Bernardino  

by Lynn Peisner

SAN BERNARDINO, CALIF. — The Mogharebi Group (TMG) has arranged the $21.5 million sale of Loma Villas, a newly constructed, 70-unit community in the Inland Empire city of San Bernardino. Loma Villas features a mix of studio, one- and two-bedroom floor plans that include enclosed patios or balconies. Amenities include a pool and spa, a fitness center, dog park and grilling and picnic areas. TMG’s Alex Mogharebi, Otto Ozen and Bryan LaBar represented the seller, a regional owner and developer. The buyer is a Southern California-based private investor.

Continue Reading
0 FacebookTwitterLinkedinEmail
Caesars Luxury Apartments exterior
Investment SalesNewsWashingtonWestern

Barcelo Homes Sells Newly Completed Tacoma Asset for $35.4 Million

by Lynn Peisner

TACOMA, WASH. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Caesars Luxury Apartments in Tacoma. The 131-unit asset sold for $35.4 million. The seller, Barcelo Homes, completed development of the project earlier this year. IPA’s Nick Ruggiero, Philip Assouad, Giovani Napoli, Ryan Harmon and Anthony Palladino represented the seller. Kathryn Dobler of Tacoma-based Dobler Management represented the buyer, RGPD LLC. The property offers a mix of studios, “urban” one-bedrooms, traditional one-bedrooms and two-bedroom units. An urban one-bedroom is a unit type that …

Continue Reading
0 FacebookTwitterLinkedinEmail
The pool at night at 4000 Hulen in Fort Worth
Investment SalesNewsTexas

Hamilton Zanze Sells 4000 Hulen in Fort Worth

by Lynn Peisner

FORT WORTH, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of 4000 Hulen in Fort Worth. IPA’s Joey Tumminello, Drew Kile, Taylor Hill, Michael Ware, Jeffrey Kindorf and Will Balthrope represented the seller, Hamilton Zanze, and procured the buyer, Pegasus Real Estate. The 240-unit property was built in 2015, and, according to Tumminello, has averaged 95 percent occupancy and 9 percent effective rent growth since then. Tumminello also says the new owner has value-add opportunities via interior unit upgrades. The five-story, controlled-access …

Continue Reading
0 FacebookTwitterLinkedinEmail
A 3D render of The Virginia in Seguin, Texas
Investment SalesNewsTexas

Joint Venture Secures $32.1 Million in Financing For The Virginia Near San Antonio

by Channing Hamilton

SEGUIN, TEXAS — A joint venture between Periscope Capital Investment and Verdot Capital has secured $32.1 million in construction financing for The Virginia, a 198-unit development in the western San Antonio suburb of Seguin. Alanna Ellis, Jeff Lepley and Alex Sheaffer of JLL Capital Markets represented the venture in acquiring the 15-year, floating-rate loan through an undisclosed regional bank. The Virginia will rise three stories and offer one-, two- and three-bedroom units. The first phase of the community is scheduled for completion in 2024. A second phase is set to …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts
©2024 France Publications, dba France Media Inc.