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Hearthstone at City Center in Aurora, Colorado
ColoradoInvestment SalesNewsWestern

Partnership Acquires Hearthstone at City Center in Aurora, Colorado for $74 Million

by Channing Hamilton

AURORA, COLO. — A partnership consisting of Bascom Group and an affiliate of Oberndorf Real Estate Management, formerly known as The Axton Group, has acquired Hearthstone at City Center in Aurora. The 360-unit asset traded hands for $74 million. The seller was not disclosed. Aurora is an eastern suburb of Denver. Hearthstone at City Center is located at 932 South Helena Way. The property features one-, two- and three-bedroom units across 41 buildings on an 18.2-acre site. Amenities include a pool, outdoor grilling and picnic areas, a fitness center and …

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ArizonaInvestment SalesNewsPeople NewsWestern

JLL Capital Markets Adds Four to Phoenix Multifamily Investment Sales Advisory Team

by Channing Hamilton

PHOENIX — JLL Capital Markets has added Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke to the firm’s multifamily investment sales advisory team in Phoenix. The team will focus on multifamily investment sales, including private capital and institutional deals. They will report to Ben Geelan and Brad Miner, who serve as co-leads of the Phoenix office. Prior to joining JLL, the team was a part of CBRE’s Phoenix Multifamily Investment Properties team. Most recently, Smuckler and Seaman held positions as executive vice presidents and co-leads of the team, and …

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Sentio in Phoenix
ArizonaInvestment SalesNewsWestern

IDEAL Capital Group Purchases Sentio in Phoenix for $108 Million

by Channing Hamilton

PHOENIX — IDEAL Capital Group has acquired Sentio, a 325-unit property in Phoenix, from Hines. The asset traded hands for $108 million. Sentio was built in 2023. Units feature open-concept floor plans, smart-home technology, energy-efficient appliances and window treatments. Residents have access to interconnected amenity spaces and walking paths. Asher Gunter, Matt Pesch, Austin Greon and Sean Cunningham of CBRE represented the seller in the deal. Trevor Breaux, Troy Tegeler and Ryan Greer of CBRE Debt & Structured Finance arranged financing for the buyer.

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Meridian Heights in Sandy, Utah
Investment SalesNewsUtahWestern

Institutional Property Advisors Brokers Sale of 96-Unit Meridian Heights Near Salt Lake City

by Channing Hamilton

SANDY, UTAH — Institutional Property Advisors (IPA) has brokered the sale of Meridian Heights, a 96-unit community in the Salt Lake City suburb of Sandy. Meridian Heights was built in 1998 on five acres. The property offers one- and two-bedroom units, as well as amenities such as covered parking, a clubhouse and laundry room. Tablerock Capital sold the the asset to Orion Real Estate Partners for an undisclosed price. Danny Shin and Brock Zylstra of IPA represented the seller and procured the buyer.

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Chase Village in Eugene, Oregon
FinanceNewsOregonWestern

JLL Capital Markets Brokers $80.5 Million in Financing for Chase Village in Eugene, Oregon

by Channing Hamilton

EUGENE, ORE. — JLL Capital Markets has arranged the $80.5 million refinancing of Chase Village, a 536-unit community in Eugene. Chase Village was built in 1990. The complex offers one-, two- and three-bedroom apartments. Units feature full kitchens, in-unit laundry, wood plank flooring and walk-in closets. Amenities include a pool, basketball court, fitness center, outdoor lounge spaces, a basketball court, grilling area and car wash area. JLL secured the five-year loan through Freddie Mac Multifamily. Horizon Realty Advisors was the borrower. The loan will be serviced by JLL Real Estate Capital LLC. …

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Affordable HousingDevelopmentNewsOregonSeniors HousingWestern

Northwest Housing Alternatives Opens Affordable Emmons Place in Portland, Oregon

by Channing Hamilton

PORTLAND, ORE. — Northwest Housing Alternatives has opened Emmons Place, a 146-unit affordable housing community in the historic Alphabet District of Portland. Emmons Place is available to households earning at or below 60 and 30 percent of the area median income. Priority populations include communities of color, individuals with disabilities and seniors exiting homelessness who will receive Permanent Supportive Housing services through the Northwest Pilot Project, which connects low-income seniors to affordable housing. The Portland Housing Bureau allocated $19.7 million from the Portland Housing Bond to the project’s development.

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Cobalt Apartments in Culver City, California
CaliforniaFinanceInvestment SalesNewsWestern

JLL Arranges $40 Million in Acquisition Financing for Cobalt Apartments in Culver City, California

by Channing Hamilton

CULVER CITY, CALIF. — JLL Capital Markets has arranged acquisition financing for Cobalt Apartments, a 135-unit property in Culver City. Jeff Sause, Chad Morgan and Jacob Michae of JLL represented the buyer, Helio Group, in securing a $40 million loan from a regional bank. Cobalt Apartments is located on a 0.9-acre site along Washington Blvd., across the street from Sony Pictures Studios. The property also includes 14,754 square feet of ground floor retail space.

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Creekside Park I and II in Napa, California
CaliforniaInvestment SalesNewsWestern

Marcus & Millichap Arranges $47 Million Sale of Two-Property Portfolio in Napa, California

by Channing Hamilton

NAPA, CALIF. — Marcus & Millichap has arranged the sale of Creekside Park I and II, a two-property portfolio totaling 188 units in Napa. The original developer of the portfolio sold it to an undisclosed buyer for $47 million. Mitchell Zurich, Kirk Trammell, David Cutler and Joshua Johnson of Marcus & Millichap represented the seller and procured the buyer. Creekside Park was constructed in two phases in 1983 and 1985. The asset comprises 15 two-story residential buildings and two single-story amenities buildings on a 10-acre site. Units come in one-, two- …

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ColoradoInvestment SalesNewsWestern

JTA Real Properties Divests of Three Property Portfolio in Aurora, Colorado, for $9 Million

by Channing Hamilton

AURORA, COLO. — JTA Real Properties LLC has divested of a portfolio of three properties in Aurora. Runt and Bro Laredo LLC acquired the portfolio for $9 million. Marc Lippitt, Phil Dankner, Justin Herman, Will McCauley and Elliott Polanchyck of Unique Properties / TCN Worldwide brokered the deal. The buyer plans to update and renovate the properties, which are located at 1377-1397 Laredo St. and 16415 E. 14th Place. The communities offer a mix of nine studios and 69 one-bedroom units.

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CaliforniaFinanceInvestment SalesNewsWestern

BWE Negotiates $224.7 Million in Financing for Six-Property Portfolio in Orange County

by Channing Hamilton

ORANGE COUNTY, CALIF. — BWE has arranged $224.7 million in financing for a six-property portfolio in Orange County. Five properties in the portfolio were refinanced in order to secure equity for the acquisition of the sixth property, Regency Palms in Huntington Beach. Jason Krupoff and Doug Taylor of BWE’s Irvine office originated the loans on behalf of a long-term investor-operator of Orange County communities. One of BWE’s correspondent life companies provided $90.6 million in loan proceeds for three of the communities. The other three, including the acquisition, totaled $134 million through …

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