VANCOUVER, WASH. — Vista Residential Partners, along with PCCP and Principal Asset Management, has broken ground on One26 Vista, a 238-unit project in Vancouver. LSW Architects designed the asset. Atlanta-based Krevolin & Horst represented Vista Residential Partners in the closing. Situated on nine acres on NE 72nd Avenue, the garden-style community offers one-, two- and three-bedroom floor plans. The average unit size is 920 square feet. Planned amenities include a clubhouse, fitness center, pool, hot tub, enclosed dog park and package concierge.
PHOENIX — JLL has brokered the sale of Corona Del Sol, a garden-style community located at 27 E. Corona Ave. in Phoenix. Corona Del Sol was built in 1985. The property features 64 apartments with an average size of 880 square feet. The community was 97 percent leased at the time of sale. KDF Communities purchased the asset from a private high-net-worth seller for $12.6 million. Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke of JLL Capital Markets represented the seller and procured the buyer in the deal.
BELMONT, CALIF. — Värde Partners has provided $105 million in construction takeout refinancing for Artisan Crossing, a 250-unit asset in Belmont, 23 miles south of San Francisco. Chris Gandy and Tom Gilliland of JLL arranged the loan, which features a three-year initial term with two one-year extension options. The borrower was Windy Hill Property Ventures. Artisan Crossing was recently completed in 2023, according to Apartments.com. The property offers amenities such as a fitness center, pool, dog spa, clubroom with rooftop deck, conference room, work pods and underground parking.
LYNNWOOD, WASH. — American Capital Group and Clarion Partners have formed a joint venture to develop Enso, a 316-unit community in the Seattle suburb of Lynwood. Pacific Life Insurance Co. served as the construction lender for the project. Located at 4001 198th St. SW, Enso will offer amenities such as a co-working space, fitness facility, game lounge, resident lounge, dog wash and bike storage. The property also features more than 4,200 square feet of retail space. Construction is slated to begin in August 2024. Completion is expected by Summer 2026.
TUCSON, ARIZ. — Bridge Investment Group has divested of Equestrian, a 288-unit property in Tucson. Investors Capital Group acquired the asset for an undisclosed price. Equestrian was built in 2008. The property offers amenities such as a business center, pool, clubhouse, fitness center, covered parking and 70 private detached garages. Clint Wadlund, Hamid Panahi, Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.
DENVER — Kaufman Hagan Commercial Real Estate has arranged the sale of Lowry Pines, a 34-unit property located at 835 S. Quebec St. in Denver. The asset traded for $5.1 million. Lowry Pines features amenities such as an interior courtyard. Andrew Vollert and Brandon Kaufman of Kaufman Hagan Commercial Real Estate represented the undisclosed seller in the deal. The identity of the buyer was also not disclosed.
SAN JOSE, CALIF. — Marcus & Millichap has arranged the sale of a 10-unit property located at 544 South Sixth Street in San Jose. The property sold for $4.3 million. Eymon Binesh, Adam Levin and Robert Johnston of Marcus & Millichap’s Palo Alto office marketed the property on behalf of the seller, a limited liability company. The community was originally built in 1969 on a 11,868 square-foot parcel of land. All units come in two-bedroom layouts and include washers and dryers. The community was recently renovated with new wood flooring, stainless …
LOS ANGELES — Marcus & Millichap has arranged the $3.5 million sale of a development currently underway in the Echo Park neighborhood of Los Angeles. The property is situated at 319 N Westlake Ave. and will comprise fourteen units, once completed. A construction timeline for the project was not disclosed. Jason Tuvia of Marcus & Millichap’s Encino office brokered the deal on behalf of the undisclosed seller. The buyer was also not disclosed.
GLENDALE, ARIZ. — Institutional Property Advisors has arranged the sale of Glen 91, a 296-unit community in the Phoenix suburb of Glendale. HCW sold the property to Bridge Investment Group for $76.5 million. Steve Gebing and Cliff David represented the seller and procured the buyer in the transaction. Glen 91 was built in 2023. Units average 871 square feet in size and feature full-size washers and dryers, nine-foot ceilings and walk-in closets with built-in shelving. Community amenities include a pool, hammock garden, covered parking and attached garages.
SAN JOSE, CALIF. — Marcus & Millichap has arranged the sale of Moreland Apartments, a 160-unit affordable housing community in San Jose. The asset traded hands for $71 million. Mitchell Zurich, Kirk Trammell, David Cutler and Joshua Johnson of Marcus & Millichap represented the seller, the original developer of the property, and procured the buyer. Moreland Apartments consists of eight two-story residential buildings and one single-story amenities building on an 8-acre site. Apartments come in one- and two-bedroom floor plans. Townhome units come in three-bedroom layouts. Income restrictions for the …