GOLDEN, COLO. — Monarch Investment & Management Group has sold Fox Hill Apartments in Golden for $32 million. Sierra Parkway Communities was the buyer, and JLL arranged the transaction on behalf of Monarch, which owned Fox Hill for about 30 years. Located at 17611 W. 16th Ave., the community was built in 1972 and has averaged 96 percent occupancy since 2021. Jordan Robbins, Wick Kirby, Alex Possick and Seth Gallman headed up the JLL team.
VANCOUVER, WASH. — JLL has arranged a $42 million Fannie Mae refinancing loan for Portola Bridge Creek, a 270-unit, garden-style community in Vancouver. The borrower was Irvine, California-based SB Real Estate Partners, which has owned the property since 2022. Built in 1989, Portola Bridge Creek offers one-, two- and three-bedroom floor plans along with a pool with poolside grills, playground, dog parks, an automated Amazon package locker and a 24-hour fitness center. Charles Halladay, Rick Salinas and Elijah Lax led JLL’s team.
RENO, NEV. — Newmark has arranged a $33.5 million Fannie Mae loan to refinance Ascent on Steamboat, a 204-unit community in Reno owned by Elan Multifamily Investments. Newmark’s Lowell Takahashi and Vince Punzi arranged the five-year, fixed rate loan. Located at 3300 Skyline Blvd. in Reno’s Old Southwest neighborhood, Ascent on Steamboat is comprised of one- and two-bedroom units and a pool, fitness center and clubhouse.
MESA, ARIZ. — CBRE has arranged the $52.4 million sale of Avia 266. Beverly Hills, California-based Geringer Capital sold the 267-unit community in Mesa, which will be renamed The Remy, to San Diego-based ColRich. The sales price includes the assumption of an existing HUD loan. The property was developed in 1984 and includes two pool and hot tub areas, a 24-hour fitness center, an outdoor courtyard, a clubhouse with a community kitchen, package lockers and a fenced dog park. CBRE’s Matt Pesch, Asher Gunter and Austin Groen represented Geringer in …
LAS VEGAS — CONAM Group, through its Strategic Investments Fund IV, has acquired Alicante Apartment Homes, a 232-unit community in Las Vegas’ Spring Valley submarket. The identity of the seller was not disclosed, but Sares Regis Group acquired the asset in 2022. The gated community, built in 2001, consists of 232 one-, two- and three-bedroom units across two-story, garden-style buildings on approximately 11 acres. Amenities include a pool and hot tub, fitness center with yoga and spin studios, clubhouse, billiards room, dog park, playground and package lockers.
HOUSTON — Camden Property Trust (NYSE: CPT) has sold an 11-property, 3,620-unit apartment portfolio in Southern California for approximately $1.6 billion. The buyer was an investment entity managed by BlackRock (NYSE: BLK). According to JLL, which represented Camden in the sale, the portfolio’s 3,620 units equal 16.5 percent of the relevant Southern California markets’ average annual transaction volume by unit count over the past five years. JLL characterized the transaction as unusually large for markets where owners typically hold multifamily properties for long periods. The properties are located across Los …
POMONA, CALIF. — Positive Investments has sold Terramonte at Foothill in Pomona to Sack Capital Partners for $36.7 million. IPA’s Kevin Green, Chris Zorbas, Joseph Grabiec, Alexander Garcia Jr. and Greg Harris arranged the Inland Empire deal. The 138-unit asset was built in 1963 on 9 acres and was renovated between 2012 and 2023. Terramonte at Foothill has two pools, sun decks, a hot tub, fitness center, barbecue pavilion, coworking space and garages. The unit mix includes studios, one-, two- and three-bedrooms with an average unit size of 910 square …
LAS VEGAS — Stout Management Co. has been selected as property manager of four Las Vegas properties: Tuscan Highlands, Silver Creek Apartments, The Vine on 8th and Maryland Villas. The properties represent luxury as well as affordable housing communities and total 936 units. Located at 12656 Southern Highlands Parkway, Tuscan Highlands is a luxury community that features a saltwater pool, fitness facilities and wellness studios. Silver Creek Apartments, at 6170 Boulder Highway, provides affordable housing options with amenities including a fitness center, pool, playground, business center and gated access. In …
SEATTLE — Nordic Real Estate has acquired Monticello, a 107-unit community at 415 Boren Ave. in Seattle’s First Hill neighborhood. Dylan Simon, Jerrid Anderson and JD Fuller of Kidder Mathews represented the undisclosed seller and sourced the buyer. Nordic Real Estate specializes in buying and renovating older properties in the Seattle region. Monticello was built in 1957 and is comprised of 42,342 rentable square feet.
NEW YORK CITY — Eastman Residential and Triangle Capital Group have acquired a three-property portfolio of former student housing communities that will be converted to conventional multifamily assets. JLL arranged a $39.4 million three-year, floating rate acquisition loan. The portfolio consists of Grove at Cheney (192 units) in Cheney, Washington, Arch at Troy (192 units) in Troy, Alabama, and CB at Radford (222 units) in Radford, Virginia. Each property was originally developed as off-campus student housing but has underperformed because of distance from their respective university campuses relative to competing …
