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The Landing at Arroyo in Simi Valley, California
CaliforniaInvestment SalesNewsWestern

Institutional Property Advisors Arranges $95 Million Sale of The Landing at Arroyo in Greater Los Angeles

by Channing Hamilton

SIMI VALLEY, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), has brokered the sale of The Landing at Arroyo in Simi Valley, approximately 40 miles northwest of downtown Los Angeles. The asset traded hands for $95 million.  Kevin Green, Joseph Grabiec and Gregory Harris of IPA represented the seller, USA Properties Fund, and procured the buyer, a private multifamily investor. The Landing at Arroyo was built in 2022. The community consists of 212 units across seven buildings on a 10-acre site. Apartments feature washers …

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Company NewsFloridaNewsPeople NewsSoutheast

Hillpointe Selects Will Bohn as Managing Director, Asset Management

by Channing Hamilton

WINTER PARK, FLA. — Hillpointe LLC, a developer headquartered in the Orlando, Florida suburb of Winter Park, has appointed Will Bohn to the role of managing director, asset management. Prior to joining Hillpointe, Bohn served as senior vice president of asset management at Simply Self Storage. He began his career with National Storage Affiliates, a public REIT, where he held positions focused on data science, revenue management and acquisitions. Bohn secured a Master of Finance and a Bachelor of Arts in Finance and Legal Studies from Tulane University. 

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Preserve at Perdido in Pensacola, Florida
FinanceFloridaNewsSoutheast

JLL Capital Markets Arranges Financing for Preserve at Perdido in Pensacola, Florida

by Channing Hamilton

PENSACOLA, FLA. — JLL Capital Markets has negotiated financing for Preserve at Perdido, a 312-unit community in Pensacola. JLL worked on behalf of the borrower, Graycliff Capital, to secure the seven-year, fixed-rate loan through Freddie Mac. Trent Niederberger and Danté Thomas led the JLL Capital Markets Debt Advisory team. The loan will be serviced by JLL Real Estate Capital LLC, a Freddie Mac Optigo Lender. Built in 2022, Preserve at Perdido features one-, two- and three-bedroom apartments with an average size of 1,201 square feet. The complex consists of 13 …

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The Highlands in Torrance, California
CaliforniaInvestment SalesNewsWestern

CBRE Brokers $71.5 Million Sale of 121-Unit The Highlands in Torrance, California

by Channing Hamilton

TORRANCE, CALIF. — CBRE has arranged the sale of The Highlands, a 121-unit community in the Los Angeles suburb of Torrance. Koto Estates Co. Ltd., an investor based in Japan, purchased the asset from Santa Barbara, California-based Ocean Ten LLC for $71.5 million. Priscilla Nee and Yasuyuki Kojima represented the buyer in the deal. Located at 25935 Rolling Hills Road, The Highlands is situated adjacent to the Rolling Hills and Palos Verdes neighborhoods. Units come in studio, one-, two- and three-bedroom floor plans, according to the property website. Community amenities include an …

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NoMi Villas in North Miami, Florida
FloridaInvestment SalesNewsSoutheast

Marcus & Millichap Brokers $2.4 Million Sale of NoMi Villas in Miami Suburb

by Channing Hamilton

NORTH MIAMI, FLA. — Marcus & Millichap (NYSE: MMI) has arranged the sale of NoMi Villas, a 16-unit asset in the Miami suburb of North Miami. The property rises two stories on a 0.3-acre site. Falcon Real Estate Holdings purchased the community from Xanadu Prop for $2.4 million. Nicholas McAndrew, Evan Kristol and Felipe Echarte of Marcus & Millichap’s Fort Lauderdale office marketed the property on behalf of the seller and procured the buyer.

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CaliforniaInvestment SalesNewsWestern

CBRE Brokers Sale of 118-Unit EVIVA Midtown in Sacramento, California

by Channing Hamilton

SACRAMENTO, CALIF. — CBRE has arranged the sale of EVIVA Midtown, a 118-unit property located at 1531 N. St. in Sacramento. Sequoia Equities and Coit Financial sold the asset to CONAM, an affiliate entity of The CONAM Group’s Fund IV, for an undisclosed price. Marc Ross and Hasina Ahmadi of CBRE represented the sellers in the deal. EVIVA Midtown offers studio, one- and two-bedroom floor plans. Apartments feature floor-to-ceiling windows, in-unit washers and dryers and stainless steel appliances. Amenities include a fitness center, community lounge, fire pit and outdoor courtyard. The property …

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Cedar Ridge Apartments in Gastonia, North Carolina
Investment SalesNewsNorth CarolinaSoutheast

Gindi Equities Sells Cedar Ridge Apartments Near Charlotte, North Carolina, for $13.5 Million

by Channing Hamilton

GASTONIA, N.C. — Gindi Equities has sold Cedar Ridge Apartments, a 104-unit community located at 1680 Herman Dr. in the Charlotte suburb of Gastonia. Cedar Ridge Apartments offers a mix of two- and three-bedroom units. The asset traded hands for $13.5 million. The buyer was not disclosed. Gindi Equities acquired the property for $10 million in 2021. Over the course of ownership, the company implemented a renovation program at Cedar Ridge, which included upgrading on-site amenities and apartment interiors. Amenities now include a new playground and dog park. The complex’s …

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Franklin at Hancock Village in Boston
DevelopmentMassachusettsNewsNortheast

Chestnut Hill Realty Delivers 250-Unit Franklin at Hancock Village in Boston

by Channing Hamilton

BOSTON — Chestnut Hill Realty has delivered Franklin at Hancock Village, a 250-unit project in the Brookline neighborhood of Boston. The building rises eight stories and houses one-, two- and three-bedroom apartments. Of the total unit count, 20 percent have been set aside as affordable housing. Rent restrictions for the Franklin at Hancock Village units were not available, but Chestnut Hill reserves units for renters who make at or below 50 percent of area median income at the adjacent John Adams property. Amenities include an outdoor putting green, grilling and …

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The Schoolhouse District in Woodinville, Washington
Investment SalesNewsWashingtonWestern

JLL Capital Markets Arranges $77 Million Refinancing for The Schoolhouse District in Seattle Suburb

by Channing Hamilton

WOODINVILLE, WASH. — JLL Capital Markets has arranged a $77 million refinancing for The Schoolhouse District, a 264-unit mixed-use complex in downtown Woodinville, a northern suburb of Seattle. JLL represented the borrowers, MainStreet Property Group and HAL Real Estate, in securing the fixed-rate loan through AXA IM Alts. Seth Heikkila and Steve Petrie led the JLL Capital Market Debt Advisory team. The Schoolhouse District was built in 2021 on a 3.1-acre site. The community offers units in studio, one-, two- and three-bedroom floor plans. Amenities include a fitness center, work-from-home spaces, grocery delivery …

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Porch + Park in Redmond, Washington
FinanceNewsWashingtonWestern

MainStreet Property Group Secures $32.6 Million Refinancing for Porch + Park in Redmond, Washington

by Channing Hamilton

REDMOND, WASH. — MainStreet Property Group has obtained a $32.6 million loan for the refinancing of Porch + Park, a 106-unit property located at 16050 Cleveland St. in downtown Redmond, an eastern suburb of Seattle. Seth Heikkila and Steve Petrie of JLL Capital Markets arranged the floating-rate loan through First Citizens Bank. Porch + Park was built in 2022. The community offers studio, one-, two- and three-bedroom floor plans. Amenities include a rooftop deck and a gym with row machines, yoga spaces and a boxing area. The property also includes 9,178 …

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