News

Knightvest Capital Sells Belmond in Haltom City, Texas

by Lynn Peisner June 27, 2025

HALTOM CITY, TEXAS — Institutional Property Advisors (IPA) has arranged the sale of Belmond, a 312-unit community in Haltom City five miles northeast of Fort Woth, Texas. Joey Tumminello, IPA senior managing director, along with IPA’s Taylor Hill, Drew Kile, Michael Ware and William Hubbard represented the seller, Knightvest Capital, and procured the buyer, TwinkleStar Asset LLC. Built in 2001 on 17 acres, Belmond is a three-story, garden-style asset with controlled-access gates, a resort-style pool, community grilling stations, covered parking and detached garages. Upgraded units have built-in desks, oversized oval …

June 27, 2025

Pool-Exterior_Bungalows-at-San-Tan-Village

Arizona Build-to-Rent Investment Sales News Western

Cavan Cos. Sells Gilbert, Arizona, BTR Project to AEW for $66 Million

by Lynn Peisner June 27, 2025

GILBERT, ARIZ. — Cavan Cos. has sold The Bungalows at San Tan Village, a 159-unit build-to-rent (BTR) community in Gilbert to AEW Capital Management. The sales price was $66 million. Cavan Cos. began construction of the property in 2021 and completed it in 2024. The Bungalows at San Tan Village was 97 percent occupied at the time of closing. The community offers a mix of one-, two- and three-bedroom single-story homes, each featuring private backyards and smart home systems. Amenities include a resort-style lap pool and a hot tub, a …

June 27, 2025

California Investment Sales News Northeast Washington, D.C.Western

JRK Buys Two Assets for $315 Million

by Lynn Peisner June 26, 2025

LOS ANGELES — JRK Property Holdings has acquired Chase Knolls in Sherman Oaks, California, and WestEnd25 in Washington, D.C., for $315 million. The assets were purchased with two separate funds, one of which targets assets developed before 1989. Chase Knolls was built in 1949. The other fund focuses on assets built after 1990 with value-add potential. WestEnd25 was built in 2009. Chase Knolls, which sold for approximately $129 million, is located on a 14-acre site that encompasses approximately two city blocks in Los Angeles’ San Fernando Valley. The property includes …

June 26, 2025

Connecticut Investment Sales News Northeast

IPA Arranges $121 Million Connecticut Portfolio Sale

by Lynn Peisner June 26, 2025

NEW HAVEN, CONN. — Institutional Property Advisors (IPA) has arranged the sale of the Central & Southeast Connecticut Portfolio, which consists of four-properties totaling 693 units. Sun Equity Partners sold the portfolio to FPA Multifamily for $121 million. IPA’s Victor Nolletti, Eric Pentore and Wes Klockner represented the seller and procured the buyer. The assets include the 208-unit New Cambridge, built in 1969 and located in Bristol; the 180-unit Silvertree, constructed in 1976 in Wallingford; the 205-unit Peppertree, built in 1975 in Groton; and Huntington Ridge in Norwich, which was …

June 26, 2025

Berkadia Florida Investment Sales News Southeast

Berkadia Arranges $44.8 Million Jacksonville Sale

by Lynn Peisner June 26, 2025

JACKSONVILLE, FLA. — Berkadia has arranged the sale of Addison Landing in Jacksonville. WRH Realty out of St. Petersburg, Florida, sold the 289-unit community to Tampa-based Argyle Real Estate Capital. According to public records, the asset traded for approximately $44.8 million. Senior Director Greg Rainey and his team at Berkadia Central & North Florida represented the seller. Matt Robbins, Mitch Sinberg, Brad Williamson, Scott Wadler and Hugo Hernandez of Berkadia Boca Raton and Miami lined up financing for the buyers, which included a $31.3 million, Freddie Mac-backed loan with a …

June 26, 2025

Development Florida News Southeast

13th Floor Investments to Build Boca Raton TOD with 340 Units

by Lynn Peisner June 26, 2025

BOCA RATON — South Florida-based developer 13th Floor Investments will develop Link at Boca, a multifamily transit-oriented development adjacent to the Boca Raton Tri-Rail station. The Tri-Rail is a commuter train that serves the Greater Miami and Palm Beach areas. The developer will complete construction by summer 2027. Link at Boca will consist of eight stories containing 340 market-rate and workforce apartments as well as 24,000 square feet of retail. Rent restrictions on the workforce units were not disclosed. Comras Co. is leading retail leasing. The project is a public-private …

June 26, 2025

Affordable Housing Development Michigan Midwest News

Woda Cooper, Cherry Health Break Ground on Affordable Housing Near Grand Rapids

by Lynn Peisner June 26, 2025

WYOMING, MICH. — Cherry Health and Woda Cooper Cos. have broken ground on Shea Ravines, a 56-unit affordable housing community in Wyoming, about six miles south of Grand Rapids. Shea Ravines will be a LEED-certified, four-story building with an elevator. It will offer 40 one-bedroom and 16 two-bedroom apartments for singles, families and seniors who earn up to 80 percent of area median income. The property will have 20 Permanent Supportive Housing (PSH) units. These units are specifically reserved for people experiencing homelessness or people with disabilities. The PSH units …

June 26, 2025

Company News News People News

UDR Appoints Dave Bragg Chief Financial Officer

by Lynn Peisner June 25, 2025

HIGHLANDS RANCH, COLO. — Publicly traded REIT UDR Inc. (NYSE: UDR) has appointed Dave Bragg as chief financial officer, effective July 24. Bragg succeeds Joe Fisher, who in January 2025 was appointed to the role of chief investment officer in addition to his responsibilities as the company’s president. Bragg joins UDR from Roots Management Group, an owner and operator of manufactured housing and recreational vehicle resort communities. Bragg joined Roots in 2022, most recently serving as chief financial officer and previously as chief strategy officer and head of investment management. …

June 25, 2025

Investment Sales News Texas

Colliers Arranges Sale of Green Arbor in Houston

by Lynn Peisner June 25, 2025

HOUSTON — Colliers has arranged the sale of Green Arbor Apartments, a 252-unit community located at 10601 Sabo Road in Houston’s Southbelt‑Ellington area. The property’s units are offered as one-, two- and three-bedroom floor plans. Chip Nash, Bob Heard and Jaleel Adatia of Colliers led the transaction. Neither the buyer, seller nor asset price was disclosed. According to Apartments.com, monthly asking rents range from $842 to $1,727.

June 25, 2025

Arizona Development Investment Sales News Western

Trinitas, Mitsui Fudosan Close on Land for Tower Near ASU

by Lynn Peisner June 25, 2025

TEMPE, ARIZ. — Trinitas Ventures and Mitsui Fudosan America have closed on the land sale for Astria Tempe, a 27-story mixed-use tower near Arizona State University. Construction is slated for completion in summer 2027. This is Trinitas’ first collaboration with Mitsui Fudosan America, which is the U.S. division of publicly traded Japanese real estate company Mitsui Fudosan Co. Layton Construction Co. will serve as general contractor, and Niles Bolton Associates is the architect. BMO Bank is the lender on the project. TSB Capital Advisors arranged equity for the development. Development …

June 25, 2025

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