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Trellis in Federal Way, Washington
FinanceInvestment SalesNewsWashingtonWestern

Institutional Property Advisors Brokers $32.4 Sale of Trellis in Federal Way, Washington

by Channing Hamilton

FEDERAL WAY, WASH. — Institutional Property Advisors (IPA) has arranged the sale and financing of Trellis, a 111-unit property in Federal Way. An investment fund sponsored by Prime Residential acquired the asset from CEP Multifamily for $32.4 million. Trellis was built in 1985 on 8.6 acres. The community offers 33 one- and two-story duplexes and fourplexes. Units come in two- and three-bedroom floor plans with an average size of 1,000 square feet. IPA’s Ryan Harmon, Giovanni Napoli, Philip Assouad, and Nicholas Ruggiero represented the seller and procured the buyer. Brian Eisendrath, …

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Madison Farms in Charlotte, North Carolina
DevelopmentFinanceLeasing & MarketingMidwestNorth CarolinaNortheastOperationsSoutheastTexasWestern

How to Serve the Middle-Class Market

by Channing Hamilton

­— By Ryan Hanks, CEO, Madison Capital — The combination of the flight from urban markets to the suburbs in the work-from-home era, the lack of accessible housing inventory and the rising cost of renting has led to a housing and affordability crisis for middle-class Americans nationally. Faced with its own challenges, including rising labor costs and an increasingly uncertain economic outlook, the multifamily industry has largely struggled to crack the code to arrive at a solution. The good news is that forward-thinking developers are deploying and refining strategies and …

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19th & Graf Apartment Homes in Bozeman, Montana
BerkadiaDevelopmentFinanceMontanaNewsWestern

Berkadia Arranges $72.9 Million for Phase Two of 19th & Graf Apartment Homes in Bozeman, Montana

by Channing Hamilton

BOZEMAN, MONT. — Berkadia has arranged $72.9 million in construction financing for the second phase of the existing 19th & Graf Apartment Homes in Bozeman. The second phase of the project will include 260 units in one-, two- and three-bedroom layouts. Amenities will include a clubhouse with a community room, fitness center, yoga studio, game room, resident lounge, business center, sports simulator and a pool with cabanas, outdoor grilling stations and lawn games. Construction on the entire project is set to be completed by September 2025. The general contractor is Dick …

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Company NewsNewsPeople NewsWashingtonWestern

Conversion Logix Hires CJ Edmonds as Chief Revenue Officer

by Channing Hamilton

BOTHELL, WASH. — Conversion Logix, an Bothell-based digital marketing company focused on multifamily, senior living and student housing, has hired CJ Edmonds to the role of chief revenue officer. Edmonds brings more than 25 years of experience in software-as-a-service company management and more than thirteen years of experience in real estate marketing and technology services to the company. 

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CaliforniaDevelopmentFinanceNewsWestern

Cityview, Stockbridge Begin Constructing 265-Unit Apollo in Los Angeles’ South Bay

by Channing Hamilton

LOS ANGELES, CALIF. — Cityview and Stockbridge have broken ground on Apollo, a 265-unit development in Los Angeles’ South Bay area. Two long-term lenders of Cityview, City National Bank and Banc of California provided construction financing for the project. Apartments at Apollo will come in studio, one- and two-bedroom floor plans. Planned amenities include a pool, co-working center, fitness center, courtyards, entertainment lounge, and a community room with a kitchen for community-hosted cooking classes. Apollo is slated for completion in 2025.

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DUO Apartments in San Jose, California
CaliforniaFinanceInvestment SalesNewsWestern

IPA Arranges $62 Million in Acquisition Financing for DUO Apartments in San Jose, California

by Channing Hamilton

SAN JOSE, CALIF. — IPA Capital Markets, a division of Marcus & Millichap, has arranged $62 million in acquisition financing for DUO Apartments, a 301-unit asset in San Jose. The loan features a 10-year, interest-only term and is fixed at 5.4 percent. DUO Apartments was built in 2020 on a 4.6-acre site, 11 miles from San Jose’s downtown area. IPA’s Brian Eisendrath, Cameron Chalfant and Jake Vitta originated the financing on behalf of the undisclosed borrower. Salvatore Saglimbeni, Stanford Jones and Philip Saglimbeni brokered the sale of the leasehold interest.

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Revital Gadish, CEO, Qira
Industry VoicesLeasing & MarketingMidwestNortheastOperationsSoutheastTexasWestern

Renter-Friendly Security Deposit Legislation Is a Sea Change for Property Managers

by Channing Hamilton

— By Revital Gadish, CEO, Qira — More than a third of Americans rent their homes, according to the U.S. Census Bureau. As such, the political landscape is evolving to fit their needs. An influx of new laws and proposed legislation has ensued, aimed at increasing transparency and fairness and avoiding financial hardship for tenants. Much of the ensuing legislation is focused on security deposits. The strictest of the bills bans security deposits entirely, while others are capping the amount landlords can charge as a security deposit. So far, Texas, …

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Aiya in Gilbert, Arizona
ArizonaInvestment SalesNewsWestern

Institutional Property Advisors Arranges $112 Million Sale of Aiya in Gilbert, Arizona

by Channing Hamilton

GILBERT, ARIZ. — Institutional Property Advisors (IPA) has arranged the sale of Aiya, a 360-unit property in Gilbert. The Wolff Co. acquired the community from Olumpus Property for $112 million. Steve Gebing and Cliff David of IPA represented the seller and procured the buyer. Brian Eisendrath, Cameron Chalfant and Jake Vitta arranged the acquisition financing. Aiya was built in 2022 on 16 acres. Amenities include EV chargers, a pool and spa, conference room, private offices and a community kitchen. Apartments come in studio, one-, two- and three-bedroom floor plans with …

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Artist Walk Apartments in Fremont, California
CaliforniaInvestment SalesNewsWestern

MG Properties Acquires Artist Walk Apartments in Fremont, California for $89.8 Million

by Channing Hamilton

FREMONT, CALIF. — MG Properties has acquired Artist Walk Apartments, a mixed-use community located in Fremont, within San Francisco’s Bay Area. The asset traded hands for $89.8 million. Artist Walk Apartments comprises 185 apartments and 30,000 square feet of ground floor retail space. The property was built in 2017. Jason Parr, Seth Siegel and Scott MacDonald of Cushman and Wakefield represented the seller, Clarion Partners. CBRE Capital Markets arranged financing for the deal through Freddie Mac.

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A project in Poway, California
CaliforniaDevelopmentFinanceNewsWestern

UC Funds Provides $60 Million to Construct Mixed-Use Project in San Diego Suburb 

by Channing Hamilton

POWAY, CALIF. — UC Funds has provided a $60 million loan to develop a 72-unit community in the San Diego suburb of Poway. The property will also include 20,000 square feet of retail space. According to UC Funds, the project will serve as a focal point for the redevelopment of Poway’s downtown area. The city includes a 900-acre business park with over 500 businesses, including General Atomic Aeronautical, Sysco and GEICO.

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