Investment Sales

Decron Properties Acquires Margo at The Society in San Diego for $125.5 Million

by Channing Hamilton December 12, 2023

SAN DIEGO — Decron Properties has purchased Margo at The Society, a 240-unit property located at 201 Del Sol Drive in San Diego, for $125.5 million. The seller was not disclosed. The acquisition was completed through a 1031 exchange. Decron Properties sold two assets in Thousand Oaks, California — Los Robles Apartments for $102.5 million and Retreat at Thousand Oaks for $69 million — and reinvested a portion of those funds into Margo at The Society. Margo at The Society comprises 240 apartments in one-, two- and three-bedroom layouts. Units …

December 12, 2023

Investment Sales New Jersey News Northeast

The Kislak Co. Brokers $3 Million Sale of Riverbank Commons Apartments in Trenton, New Jersey

by Channing Hamilton December 11, 2023

TRENTON, N.J. — The Kislak Co. Inc. has arranged the sale of Riverbank Commons in Trenton. Barry Waisbrod of Kislak represented the seller, River Bank Rentals LLC, in the transaction. The buyer was an entity doing business as NJ Mercer Investments Realty LLC. The building comprises 30 units across three stories. The unit mix includes three efficiency apartments, 12 one-bedroom units and 15 two-bedroom units.

December 11, 2023

Investment Sales News Texas

The Multifamily Group Negotiates Sale of 128-Unit Midtown Apartments in Temple, Texas

by Channing Hamilton December 11, 2023

TEMPLE, TEXAS — The Multifamily Group (TMG) has arranged the sale of Midtown Apartments in Temple, approximately 70 miles north of Austin. Paul Yazbeck of TMG represented the seller in the deal. Jon Krebbs procured the buyer. Both parties requested anonymity. Midtown Apartments was built in 1971. The community offers one- and two-bedroom units, as well as amenities such as a pool, fitness center, basketball court, clubhouse and a picnic area.

December 11, 2023

Arizona Investment Sales News Western

Fore Property Co. Sells 310-Unit Cuvee in Glendale, Arizona for $86 Million

by Channing Hamilton December 11, 2023

GLENDALE, ARIZ. — Fore Property Co. has sold Cuvee, a 310-unit complex in Glendale, to Pillar Communities for $86 million. Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen of CBRE represented the seller in the deal. Cuvee was built in 2023 at 7200 N. 91st Ave. The property comprises 310 units and offers amenities such as two pools, a fitness center, clubhouse with TV lounges, game room, coffee bar and business center.

December 11, 2023

Colorado Investment Sales News Western

MG Properties Acquires Bear Valley Park Apartments in Denver for $76 Million

by Channing Hamilton December 8, 2023

DENVER — MG Properties has purchased Bear Valley Park Apartments, a garden-style community in Denver, from Jackson Square Properties for $76 million. Bear Valley Park Apartments offers units in one- and two-bedroom layouts. Amenities include a pool, fire pit, package lockers, private parking lot with available garages, resident lounge, fitness center and spa. Jordan Robbins and Alex Possick of JLL Capital Markets represented the seller in the deal. Charles Halladay, Rick Salinas, Brandon Smith and Annie Rice of JLL Capital Markets arranged acquisition financing through Fannie Mae on behalf of …

December 8, 2023

Florida Investment Sales News Southeast

Marcus & Millichap Negotiates $2.8 Million Sale of Two Properties in Miami

by Channing Hamilton December 8, 2023

MIAMI — Marcus & Millichap has brokered the sale of two properties located at 1910 and 1920 NW 29th Street in Miami’s Allapattah neighborhood. The buildings comprise 8,840 square feet and 16 units altogether. Units come in studio, one- and two-bedroom floor plans. 7 Crowns LLC purchased the properties from a local LLC for $2.8 million. Nicholas McAndrew, Felipe Echarte and Evan Kristol of Marcus & Millichap’s Fort Lauderdale office marketed the property on behalf of the seller and procured the buyer.

December 8, 2023

Investment Sales News Texas

Matthews Real Estate Investment Services Brokers Sale of Marsol Apartments in Austin, Texas

by Channing Hamilton December 7, 2023

AUSTIN, TEXAS — Matthews Real Estate Investment Services has negotiated the sale of Marsol Apartments, a 22-unit complex located just northwest of Austin’s downtown area. The property was originally constructed in 1972 and was recently renovated. Richard Waterhouse and Tyler Marshall of Matthews Real Estate Investment Services represented the seller in the deal. Neither the seller nor buyer were disclosed.

December 7, 2023

Investment Sales New York News Northeast

Marcus & Millichap Brokers $48 Million Sale of Fannwood Estates in New York City

by Channing Hamilton December 7, 2023

NEW YORK CITY — Marcus & Millichap has arranged the sale of Fannwood Estates, a rent-stabilized property located in the Rego Park neighborhood of Queens in New York City. Fannwood Estates offers 312 units across six stories. The asset traded hands for $48 million. Shaun Riney, Seth Glasser, Joe Koicim, Louis Zarif and Sean Fopeano of Marcus & Millichap represented the seller and procured the buyer. Both parties were private investors.

December 7, 2023

Investment Sales New Jersey News Northeast

JLL Capital Markets Brokers $18.6 Million Refinancing for 39 High Street in Jersey City, New Jersey

by Channing Hamilton December 6, 2023

JERSEY CITY, N.J. — JLL Capital Markets has arranged a $18.6 million loan to refinance 39 High Street, an 83-unit property in the Journal Square neighborhood of Jersey City. Recently built in 2023, 39 High Street rises six stories and offers studio, one-, two- and three-bedroom floor plans. Amenities include a fitness center, children’s playroom, lounge and a rooftop terrace. Matthew Pizzolato, Max Custer and John Cumming of JLL represented the borrower, a partnership between Spitzer Enterprises and Titanium Realty Group, to secure the fixed-rate loan through a correspondent life …

December 6, 2023

Investment Sales New Jersey News Northeast

CBRE Brokers $5.5 Million Sale of 30,000-Square-Foot Site in North Bergen, New Jersey

by Channing Hamilton December 6, 2023

NORTH BERGEN, N.J. — CBRE has brokered the sale of a 30,000-square-foot development site in the New York City suburb of North Bergen. The site is located at 8709 River Road, across from the Edgewater Harbor lifestyle center. AIRN Management sold the community to a locally-based developer for $5.5 million. Fahri Ozturk, Richard Gatto, Zach McHale and Jeff Babikian of CBRE represented the seller and procured the buyer.

December 6, 2023

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