LOS ANGELES — Blake Rogers and Alex Caniglia have re-joined JLL Capital Markets as multifamily investment sales producers. Rogers will serve as a senior managing director in the Los Angeles office and lead the greater Southern California multifamily team. He will also join the National Multifamily Housing Council. Caniglia will join as a Managing Director in the San Diego office. Both Rogers and Caniglia spent the last three years with Walker & Dunlop, focusing on multifamily investment sales throughout Southern California. Prior to those roles, they both worked at JLL …
IRVINE, CALIF. — Michael Wesson has rejoined Pearlmark as a managing director. In this role, Wesson will focus on debt investment originations. He also opened Pearlmark’s office in Irvine. Wesson joins Pearlmark from CIBC, where he held numerous roles across nine years in New York and Newport Beach. Prior to working at CIBC, Mr. Wesson served as a vice president at Rockwood Real Estate Advisors. He is returning to Pearlmark, where he started as an analyst and rose to vice president prior to joining Rockwood. He received a Bachelor of …
PHOENIX — WhiteHaven has purchased Clarendon Park Apartments, a 138-unit community in Phoenix, for $37 million. The company rebranded the property as Haven at Midtown. Built in 2002, Haven at Midtown offers studio, one- and two-bedroom units. Amenities include a pool with a grilling area, a gym, internet access, a dog park, garages and covered parking. Greystar will be the property manager for this asset.
RENO, NEV. — Arthur Vista Ridge has sold Vista Ridge Apartments, a 324-unit asset in Reno, to Tilden Properties and IDEAL Capital Group for $76 million. Kenneth Blomsterberg, Ryan Rife and Daniel Winrod of Marcus & Millichap represented the seller and procured the buyer. Vista Ridge Apartments was built in 1996 on 19 acres. The community offers one-, two- and three-bedroom apartments. Units feature vaulted ceilings, and washers and dryers. Amenities include a fitness center, business center, pool and tennis and basketball courts.
DAVIS, CALIF. — JLL Capital Markets has arranged joint venture equity for the construction of Axis @ Davis, a 200-unit community in Davis. Axis @ Davis will comprise five residential buildings, as well as 1,500 square feet of ground floor retail space. Units will come in one-, two- and three-bedroom layouts. Amenities will include a top-floor lounge, pool with a spa, pet park, package room, game room and study rooms with a coffee bar and private offices. Axis @ Davis will be located one mile from the University of California, Davis …
SPOKANE, WASH. — CEP Multifamily purchased Regal Ridge, a 97-unit asset in Spokane’s South Hill neighborhood, from Cooper Street Capital for $21.5 million. Ryan Harmon, Nicholas Ruggiero, Philip Assouad and Giovanni Napoli of Institutional Property Advisors represented the seller and procured the buyer. Regal Ridge was built in 1994 on 4.5 acres. The community offers two- and three-bedroom apartments with features such as washers and dryers, hardwood floors, and private patios or balconies. Amenities include a pool, playground and package room.
ORANGE, SANTA ANA AND SAN CLEMENTE, CALIF. — CBRE brokered the sales of three fourplexes in Orange County, California, for a total $5.5 million. Dan Blackwell and Amanda Fielder represented the sellers and procured the buyers in all three transactions. CBRE brokered the sale of 609 S. Cypress St. in Orange for $1.8 million. The buyer was a private investor based in Orange County. The seller was an out-of-state private investor. The property was built in 1966 and offers three two-bedroom units and one three-bedroom unit. Blackwell and Fielder also represented …
PHOENIX — Empire Group has secured a $88.5 million construction loan to develop Village at Bronco Trail, a build-to-rent (BTR) community in Phoenix. Kyle McDonough and George Maravilla of Tower Capital arranged the financing. Village at Bronco Trail will comprise 354 units on a 30-acre site. Each unit will feature a private yard, a kitchen with quartz countertops, stainless steel appliances, full-size washers and dryers, and smart-home features. Amenities include detached garages, a dog park, grilling area, resort-style pool, clubhouse and common area open spaces. Empire Group expects to deliver the …
LOS ANGELES — Kidder Matthews brokered the $3.6 million sale of a property at 4737 Kester Ave. in the Los Angeles neighborhood of Sherman Oaks. Michael Monempour and David Saghian represented the seller, a private investor. The property offers eight units across a 8,600-square-foot site. The community was built in 2014. According to Apartments.com, 4737 Kester Ave. rises three stories and is elevator-serviced. Units come in one-, two- and three-bedroom floor plans.
PHOENIX — An affiliate of Reliant Group Management has purchased Phoenix Manor, a 405-unit property in Phoenix. Phoenix manor comprises 38 apartment buildings, a 16,750-square-foot clubhouse with a leasing center, 6,750-square-foot auditorium, 4,200-square-foot maintenance shop, two pools, two lagoons, three pavilions, a dog park, putting green and four shuffleboard courts. The property offers studio, one- and two-bedroom floor plans. Cindy Cooke, Brad Cooke, Chris Roach and Matt Roach of Colliers represented the seller, Phoenix Manor LLC.