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Artesia in Everett, Washington
Investment SalesNewsWashingtonWestern

RISE Properties Trust Sells Artesia in Suburban Seattle for $61.6 Million

by Channing Hamilton

EVERETT, WASH. — MG Properties has purchased Artesia, a 192-unit apartment property in the Seattle suburb of Everett, from RISE Properties for $61.6 million. Giovanni Napoli Philip Assouad, Ryan Harmon, Nicholas Ruggiero and Anthony Palladino of Institutional Property Advisors (IPA) represented the seller and procured the buyer. IPA Capital Markets team Brian Eisendrath, Cameron Chalfant, Jake Vitta and Tyler Johnson arranged the acquisition financing. Built in 1990 and updated between 2018 and 2022, Artesia’s units feature quartz countertops, stainless steel appliances, tile fireplace surrounds and reclaimed wood mantles.

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Moontower in Phoenix, Arizona.
ArizonaDevelopmentNewsWestern

LV Collective, Cross Harbor Capital Partners Begins Leasing Moontower in Phoenix

by Channing Hamilton

PHOENIX — LV Collective and Cross Harbor Capital Partners have begun leasing Moontower, a 326-unit project in Phoenix’s Roosevelt Row art district. JE Dunn is the general contractor for the project. Arvest Bank is providing the debt. Shepley Bullfinch is serving as architect and Michael Hsu Office of Architecture is providing interior design services. Greystar is leasing the property.  Moontower offers studio, one- and two-bedroom floor plans with rents starting at $1,790 per month. Community amenities include a coffee and cocktail bar, fitness center, rooftop pool deck, co-working and conference …

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Sierra Sun Apartments in Puyallup, Washington.
Investment SalesNewsWashingtonWestern

Equus Capital Partners Acquires 150-Unit Sierra Sun Apartments Near Seattle

by Channing Hamilton

PUYALLUP, WASH. — Equus Capital Partners (Equus) has acquired Sierra Sun Apartments, a 150-unit property in the Seattle suburb of Puyallup. Built in 2006, Sierra Sun comprises 20 apartment buildings and an 8,500 square-foot clubhouse and amenity center. The community offers one-, two- and three-bedroom townhome-style units. Each unit includes an attached two car garage. Equus will conduct $2 million in renovations to the asset, including interior and exterior updates, as well as enhancements to the clubhouse and amenity center. Madison Apartment Group, a subsidiary of Equus, will oversee the …

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CaliforniaNewsPeople NewsWestern

CBRE Hires Multifamily Investment Sales Team to Woodland Hills Office in Los Angeles

by Channing Hamilton

LOS ANGELES — CBRE has selected John Boyett as first vice president and Adam Feldman as a senior associate in the firm’s Woodland Hills office in Los Angeles. Boyett and Feldman will focus on multifamily investment sales in the Los Angeles metropolitan area. Boyett previously served as associate vice president at Matthews Real Estate Investment Services (Matthews). Prior to joining Matthews, he played several seasons with the Indianapolis Colts and Denver Broncos in the National Football League as well as the Ottawa Redblacks in the Canada Football League. Boyett graduated from the University …

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St. Paul Collection in Denver, Colorado.
ColoradoCompany NewsNewsOperationsWestern

Asset Living to Manage St. Paul Collection in Denver

by Channing Hamilton

DENVER — Asset Living has been awarded management of St. Paul Collection, a 165-unit building in Denver’s Cherry Creek North neighborhood, three miles southeast of downtown Denver. St. Paul Collection offers one-, two- and three-bedroom floor plans. Community amenities include a pool with hot tubs and day beds, a lounge, fitness center, sun terrace, bike storage and a coffee bar. Asset Living took over management for the community in March 2023.

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A photo of The Michael B Townhomes and Flats in Las Vegas.
Investment SalesNevadaNewsWestern

Davlyn Investments Acquires Spectrum in Las Vegas for $67 Million

by Channing Hamilton

LAS VEGAS — San Diego-based owner-operator Davlyn Investments has closed on the $67 million purchase of Spectrum, a 252-unit community in Las Vegas’ The Curve neighborhood. Taylor Sims and Brady Cleary of Cushman & Wakefield represented the seller. Mitch Clarfield and Meghan Varga of Newmark arranged the debt. Spectrum was built in 2010 and offers one- and two-bedroom floor plans. Davlyn Investments has since rebranded the property as The Michael B Townhomes and Flats. 

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The sundeck of Ranchero Palms, a community in San Jose, California.
CaliforniaInvestment SalesNewsWestern

CBRE Brokers $15.4 Million Sale of Ranchero Palms in San Jose, California

by Channing Hamilton

SAN JOSE, CALIF. — CBRE arranged the $15.4 million sale of Ranchero Palms, a 61-unit community in San Jose. Keith Manson, Zachary Greenwood and Mac Watson represented both the buyer and seller. Ranchero Palms one- and two-bedroom floor plans, and was recently renovated with a new entry way, new railings and stairways and updated main electrical service. According to Apartments.com, the property was built in 1969 and offers community amenities such as a pool, a sundeck, on-site laundry facilities and dry cleaning services.

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ColoradoNewsOperationsPeople NewsWestern

Aimco Appoints Sherry Rexroad to Board of Directors

by Channing Hamilton

DENVER — Apartment Investment and Management Co. (Aimco) has appointed Sherry Rexroad to its board of directors. Rexroad has been appointed to Aimco’s audit, compensation and human resources, investment, nominating and ESG Committees. Rexroad most recently served as Chief Financial Officer of STORE Capital, a publicly traded net-lease REIT. Prior to that, she worked at BlackRock Global Real Asset Securities as global head of business development, as well as co-global chief investment officer and chair of the investment committee.

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An aerial 3D rendering of the Highline in Colombia Falls, Montana
Investment SalesMontanaNewsWestern

Brickman Real Estate Acquires The Highline in Colombia Falls, Montana

by Channing Hamilton

COLOMBIA FALLS, MONT. — Brinkman Real Estate has acquired The Highline, a 180-unit property in Colombia Falls, for an undisclosed price. Colombia Falls is located within Montana’s Flathead County. Triad Real Estate Partners represented both Brinkman and the seller in the transaction. The Highline was built in 2020. Brinkman plans to renovate the community with new landscaping and signage, smart home packages and laundry to all units, and amenities such as a grilling area. According to the property website, community amenities currently include a playground, dog park and a clubhouse.

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CaliforniaInvestment SalesNewsWestern

Legacy Partners Acquires $18.3 Million Del Amo Village Development Site Near Los Angeles

by Channing Hamilton

TORRANCE, CALIF. — Legacy Partners has purchased Del Amo Village, a development site located in the Los Angeles suburb of Torrance, for $18.3 million. The site comprises 2.8 acres located within Los Angeles County’s South Bay submarket at 1844 Plaza del Amo. The development plan for the project includes entitlements for 200 market-rate units. Kevin Shannon, Ken White, Chris Benton, Michael Moore and Anthony Muhlstein of Newmark represented the sellers, which were PCCP, LaCaze, Muller Company and Bentall GreenOak.

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