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Kristi Nootens, managing director and co-head at CP Capital US
Industry VoicesMidwestNortheastOperationsPeople NewsSoutheastTexasWestern

Q&A with Kristi Nootens: Women Can Break Down Barriers in the Industry

by Channing Hamilton

Kristi Nootens, managing director and co-head at CP Capital US, a real estate manager specializing in multifamily investments, sat down with Multifamily Affordable Housing Business (MAHB) to discuss the role of women in the industry and how the market may develop as we progress into the second half of 2023. On Women in Real Estate MAHB: Tell us about yourself and your journey. Nootens: My journey to commercial real estate started in large part because both of my parents worked in the industry. My dad was a mechanical engineer who spent a lot …

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Renaissance Court in Pasadena, California
CaliforniaFinanceNewsWestern

PSRS Arranges $9.6 Million Refinance of Renaissance Court in Pasadena, California

by Channing Hamilton

PASADENA, CALIF. — PSRS has arranged the $9.6 million refinance of Renaissance Court, a mixed-use community in Pasadena. Renaissance Court offers 41 units, including one- and two-bedroom apartments and two-bedroom townhomes. The property also includes nine ground-level retail units. Kostas Kavayiotidis arranged the non-recourse loan through a life insurance company. The loan features a 10-year term and 30-year amortization.

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224 S. Oak St. in Newport Beach, California
CaliforniaInvestment SalesNewsWestern

CBRE Arranges $1.6 Million Sale of Fourplex in Orange, California

by Channing Hamilton

ORANGE, CALIF. — CBRE arranged the $1.6 million sale of a four-unit community located at 224 S. Oak St. in Orange. Dan Blackwell, Sean Farag and Amanda Fielder represented the Orange County-based 1031 exchange seller in the sale of the asset. The fourplex was built in 1957 on a 10,809-square-foot site. The property offers one- and two-bedroom units, as well as four garage parking spaces and four tandem spaces.

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Clarendon Park in Phoenix
ArizonaInvestment SalesNewsWestern

CBRE Arranges $37 Million Sale of Clarendon Park in Phoenix

by Channing Hamilton

PHOENIX — CBRE has arranged the sale of Clarendon Park, a 138-unit community in Phoenix. WhiteHaven, a Phoenix-based private equity firm, purchased the property for $37 million. Matt Pesch, Austin Groen, Jeff Seaman and Bryson Fricke represented the seller. Anthony Valenzuela of CBRE Phoenix Debt & Structure Finance arranged the deal’s financing. Clarendon Park offers a one- and two-bedroom apartments. Community amenities include a recently renovated fitness center, remodeled clubhouse and leasing center, pool area, new package lockers and a dog park.

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ColoradoFinanceInvestment SalesNewsPeople NewsWestern

Avanti Residential Appoints Richard Bennion as Managing Director

by Channing Hamilton

DENVER — Avanti Residential has selected Richard Bennion as Managing Director. In this role, Bennion will be responsible for strategic growth and institutional capital relationships. Bennion most recently worked at PEF Advisors, where he led the capital formation of a $100 million fund focused on affordable housing and was a member of the company’s senior leadership team and investment committee. Prior to joining PEF Advisors, he worked at Carmel Partners. Bennion received a Bachelor of Science in Manufacturing Engineering from Brigham Young University and an MBA from Harvard Business School.

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Salem Manor in Salem, Oregon
Affordable HousingFinanceNewsOregonWestern

Keybank Provides $20.4 Million in Financing for Affordable Housing Community in Salem, Oregon

by Channing Hamilton

SALEM, ORE. — Hampstead Development Partners (Hampstead) has received $20.4 million in financing for the acquisition and renovation of Salem Manor, a 64-unit affordable community in Salem. KeyBank Community Development Lending and Investment (CDLI) provided a $4 million construction loan and $6.3 million in Low-Income Housing Tax Credit, as well as arranged $10.1 million in permanent financing through Freddie Mac. John Paul Vachon, Matthew Haas and Hector Zuniga of KeyBank CDLI structured the financing. Salem Manor is subsidized by a Section 8 Housing Assistant Payment contract and is affordable to households earning at …

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The Paseos at Montclair in Montclair, California
CaliforniaFinanceInvestment SalesNewsWestern

Archway Equities Acquires Inland Empire Community for $150 Million

by Channing Hamilton

MONTCLAIR, CALIF. — Archway Equities has acquired The Paseos at Montclair, a 385-unit community in the Inland Empire city of Montclair, for $150 million. Pacific Urban Investors’ Structured Finance Group provided preferred equity to facilitate the transaction. The Paseos at Montclair was built in 2014. The garden-style community offers studio, one-, two- and three-bedroom units. Amenities include two pools with spas and cabanas, a fitness center, yoga room, children’s entertainment suite, conference center and entertainment lounge.

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Soltra at SanTan Village in Gilbert, Arizona
ArizonaInvestment SalesNewsWestern

CBRE Brokers $140 Million Sale of Soltra at SanTan Village in Phoenix Suburb

by Channing Hamilton

GILBERT, ARIZ. — The Premiere Residential has acquired Soltra at SanTan Village, a 380-unit community in the southeast Phoenix suburb of Gilbert, from Leon Multifamily for $140 million. Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen of CBRE represented the seller. Soltra at SanTan Village was built in 2021 at 1690 South San Tan Village Pkwy. Units come in studio, one- and two-bedroom layouts. Amenities include a clubhouse with an entertainment table, fitness center and pool with a swim-up hospitality bar and cabanas.

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The Parker in Portland, Oregon
Investment SalesNewsOregonWestern

Waterton Acquires 177-Unit The Parker in Portland, Oregon

by Channing Hamilton

PORTLAND, ORE. — Waterton has acquired The Parker, a 177-unit community in Portland. The Parker rises six stories in the Pearl District, one mile north of Downtown Portland. The community offers one- and two-bedroom apartments, as well as amenities including an outdoor courtyard with grilling stations, a fitness center, a dog wash station, bike storage and a community room with a kitchen and business center. Waterton plans to renovate units with new backsplashes and flooring, lighting and plumbing fixtures, cabinets, shades and mirrors.

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4229 North 17th Street in Phoenix
ArizonaInvestment SalesNewsWestern

ABI Multifamily Brokers $2.2 Million Sale of Community in Phoenix

by Channing Hamilton

PHOENIX — ABI Multifamily has brokered the $2.2 million sale of an eight-unit property at 4229 North 17th St. in Phoenix. The buyer and seller are based in Arizona. Mitchell Drake, Dallin Hammond and Carson Griesemer represented the seller in this transaction. The property was originally built in 1982 and was renovated in 2020. Interior renovations include contemporary cabinets, stainless-steel appliances, vinyl flooring, floating bathroom vanities and more. Units come in two-bedroom layouts. Exterior renovations include a dog run, community patio grill and picnic area. 4229 North 17th St. is …

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