Western

JLL Capital Markets Arranges $51 Million Refinancing for Townhome Community in Denver

by Channing Hamilton September 12, 2024

DENVER — JLL Capital Markets has negotiated a $51 Fannie Mae loan for the refinancing of Elowyn Townhomes, a 211-unit townhome-style community located at 4725 W Quincy Ave. in Denver. The property was built in 1975 on a 14.7-acre site and recently renovated in 2024. Elowyn Townhomes offers two-story units in one- and two-bedroom layouts. Units feature semi-finished, full floor plate basements, backyard patios, stainless steel appliances and fireplaces. Amenities include a pool and spa, clubhouse, barbeque grills and a sauna. The property is currently 97 percent leased. JLL worked …

September 12, 2024

Dartmouth Woods in South Lakewood, Colorado

Colorado Investment Sales News Western

S2 Capital Acquires 201-Unit Dartmouth Woods in Suburban Denver

by Channing Hamilton September 10, 2024

SOUTH LAKEWOOD, COLO. — S2 Capital has acquired Dartmouth Woods, a 201-unit asset in South Lakewood, approximately eight miles west of downtown Denver, for an undisclosed price. Dartmouth Woods was constructed in 1990. Located at 10025 W. Dartmouth Ave., the property consists of buildings that rise two and three stories. The buyer plans to implement interior renovations, including stainless steel appliances, modern lighting, new flooring and updated cabinets, along with extensive renovations to the exterior and amenities space.

September 10, 2024

The Landing at Arroyo in Simi Valley, California

California Investment Sales News Western

Institutional Property Advisors Arranges $95 Million Sale of The Landing at Arroyo in Greater Los Angeles

by Channing Hamilton September 10, 2024

SIMI VALLEY, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), has brokered the sale of The Landing at Arroyo in Simi Valley, approximately 40 miles northwest of downtown Los Angeles. The asset traded hands for $95 million. Kevin Green, Joseph Grabiec and Gregory Harris of IPA represented the seller, USA Properties Fund, and procured the buyer, a private multifamily investor. The Landing at Arroyo was built in 2022. The community consists of 212 units across seven buildings on a 10-acre site. Apartments feature washers …

September 10, 2024

California Investment Sales News Western

CBRE Brokers $71.5 Million Sale of 121-Unit The Highlands in Torrance, California

by Channing Hamilton September 9, 2024

TORRANCE, CALIF. — CBRE has arranged the sale of The Highlands, a 121-unit community in the Los Angeles suburb of Torrance. Koto Estates Co. Ltd., an investor based in Japan, purchased the asset from Santa Barbara, California-based Ocean Ten LLC for $71.5 million. Priscilla Nee and Yasuyuki Kojima represented the buyer in the deal. Located at 25935 Rolling Hills Road, The Highlands is situated adjacent to the Rolling Hills and Palos Verdes neighborhoods. Units come in studio, one-, two- and three-bedroom floor plans, according to the property website. Community amenities include an …

September 9, 2024

California Investment Sales News Western

CBRE Brokers Sale of 118-Unit EVIVA Midtown in Sacramento, California

by Channing Hamilton September 9, 2024

SACRAMENTO, CALIF. — CBRE has arranged the sale of EVIVA Midtown, a 118-unit property located at 1531 N. St. in Sacramento. Sequoia Equities and Coit Financial sold the asset to CONAM, an affiliate entity of The CONAM Group’s Fund IV, for an undisclosed price. Marc Ross and Hasina Ahmadi of CBRE represented the sellers in the deal. EVIVA Midtown offers studio, one- and two-bedroom floor plans. Apartments feature floor-to-ceiling windows, in-unit washers and dryers and stainless steel appliances. Amenities include a fitness center, community lounge, fire pit and outdoor courtyard. The property …

September 9, 2024

The Schoolhouse District in Woodinville, Washington

Investment Sales News Washington Western

JLL Capital Markets Arranges $77 Million Refinancing for The Schoolhouse District in Seattle Suburb

by Channing Hamilton September 6, 2024

WOODINVILLE, WASH. — JLL Capital Markets has arranged a $77 million refinancing for The Schoolhouse District, a 264-unit mixed-use complex in downtown Woodinville, a northern suburb of Seattle. JLL represented the borrowers, MainStreet Property Group and HAL Real Estate, in securing the fixed-rate loan through AXA IM Alts. Seth Heikkila and Steve Petrie led the JLL Capital Market Debt Advisory team. The Schoolhouse District was built in 2021 on a 3.1-acre site. The community offers units in studio, one-, two- and three-bedroom floor plans. Amenities include a fitness center, work-from-home spaces, grocery delivery …

September 6, 2024

Finance News Washington Western

MainStreet Property Group Secures $32.6 Million Refinancing for Porch + Park in Redmond, Washington

by Channing Hamilton September 5, 2024

REDMOND, WASH. — MainStreet Property Group has obtained a $32.6 million loan for the refinancing of Porch + Park, a 106-unit property located at 16050 Cleveland St. in downtown Redmond, an eastern suburb of Seattle. Seth Heikkila and Steve Petrie of JLL Capital Markets arranged the floating-rate loan through First Citizens Bank. Porch + Park was built in 2022. The community offers studio, one-, two- and three-bedroom floor plans. Amenities include a rooftop deck and a gym with row machines, yoga spaces and a boxing area. The property also includes 9,178 …

September 5, 2024

Investment Sales News Washington Western

Security Properties Acquires SKY Sammamish in Metro Seattle for $70.3 Million

by Channing Hamilton August 29, 2024

SAMMAMISH, WASH. — Security Properties has acquired SKY Sammamish, a 159-unit asset located in the Seattle suburb of Sammamish, for $70.3 million. According to the property website, SKY Sammamish offers one-, two- and three-bedroom apartment units. Amenities include a lounge, fitness center and sport court featuring basketball and pickleball courts, ping pong tables and a tabletop shuffleboard. The community was built in 2018 as a phase of the Sammamish Town Center, a mixed-use development that will serve as the new town center for the city. SKY Sammamish is currently the only …

August 29, 2024

Development Finance Investment Sales Leasing & Marketing Market Reports Nevada Western

Development Boom has Turned Nevada into a Renter’s Market

by Channing Hamilton August 28, 2024

The Nevada multifamily market, which is primarily made up of Reno and Las Vegas, faced significant challenges in 2023, particularly due to rising interest rates and a slowdown in sales volume. Rents declined by approximately 8 percent since their peak in the fourth quarter of 2021. Despite these setbacks, investors remain attracted to multifamily properties in Nevada, buoyed by the state’s favorable economic indicators and potential for long-term returns. However, supply constraints and rising construction costs pose ongoing challenges that could impact future market growth. Nonetheless, the Nevada multifamily market …

August 28, 2024

Arizona Investment Sales News Western

Cushman & Wakefield | PICOR Brokers Sale of 23-Unit Portfolio in Tucson, Arizona

by Channing Hamilton August 21, 2024

TUCSON, ARIZ. — Cushman & Wakefield | PICOR has arranged the sale of a 23-unit portfolio in Tucson. Plowden/Martin Properties LLC purchased the assets from Welsey James Krajicek Family Revocable Trust for $2.1 million. The portfolio consists of Pima Apartments at 4238-4246 E. Pima St. and Lee Apartments at 4223-4245 E. Lee St. Allan Mendelsberg and C. Joey Martinez of Cushman & Wakefield | PICOR represented the buyer and seller in the deal.

August 21, 2024

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