SAN RAFAEL, CALIF. — CBRE has negotiated the $5.6 million sale of Pacifica Apartments, a 20-unit asset in San Rafael, about 18 miles north of San Francisco. Ben Mollahan and Adam Foley of CBRE represented the buyer, an entity doing business as 55 Canal Street LLC, in the deal. The seller was not disclosed. Located at 55 Canal Street, Pacifica Apartments consists of entirely two-bedroom units. Amenities include a courtyard with a children’s play area and garden, community laundry facility, covered parking and storage for each tenant.
SAN ANTONIO — Metlife Investment Management has sold NOVA Apartments, a 412-unit property located at 14200 Vance Jackson Road in San Antonio. NOVA Apartments was built on 31 acres in 2009. The asset spans 352,912 square feet of rentable space. Residents have access to amenities such as multiple pools, dog parks, an electric vehicle charger, jogging trail and fitness center. Robert Arzola, Ryan McBride and Robert Wooten of JLL Capital Markets represented the seller in the deal. The buyer and sales price were not disclosed.
FARGO, N.D. — Gindi Equities has acquired Amber Crossing Apartment Homes, a 117-unit complex located at 5170 Amber Valley Parkway in Fargo, for an undisclosed price. Property Resources Group was the seller. Built in 2002, Amber Crossing offers one- to three-bedroom units. Gindi Equities plans to make interior refurbishments such as updating the kitchen and bathroom features, as well as renovating common spaces and outdoor amenities.
CHARLOTTESVILLE, VA. — Advantage Capital has closed the financing for the second phase of Kindlewood, a $68 million affordable housing redevelopment and expansion project in Charlottesville. The development team, which broke ground on phase II last month, includes Piedmont Housing Alliance and National Housing Trust. Phase II of Kindlewood will consist of 100 apartments, half of which are replacement units for existing residents. The rest will be new affordable housing units. The development team expects to deliver the second phase in fall 2026. The last tranche of financing was $9.6 …
GRESHAM, ORE. — PH Development LLC has received $15.9 million in financing for the development of Woodland Flats, a hotel-to-multifamily conversion project located at 2752 NE Hogan Drive in Gresham, about 17 miles west of Portland. The project includes the conversion of an existing hotel into 120 apartments, as well as 6,400 square feet of ground-floor retail space. Units will come in studio, one- and two-bedroom floor plans. Monthly rates will range from $1,200 to $1,600 per month. Community amenities will include a pool, fitness center and exterior courtyard. Tom Wilson, …
DEL CITY, OKLA. — Home Invest, a private investment firm and fund manager headquartered in Sarasota, Florida, has bought Morgan Terrace in Del City, six miles east of Oklahoma City, Oklahoma. An undisclosed, California-based investor purchased the asset for $3.7 million. According to Apartments.com, Morgan Terrace was completed in 1964 and offers one-, two- and three-bedroom units, as well as a courtyard and onsite laundry facilities.
NASHVILLE, TENN. — Origin Investments has purchased Queens WeHo, a 221-unit property located in downtown Nashville’s Wedgewood-Houston neighborhood. Proffitt Dixon, who developed the community in 2023, sold the asset for an undisclosed price. The property offers a mix of studio, one-, two- and three-bedroom apartments ranging from 559 to 1,120 square feet. The ground level features a 6,461-square-foot restaurant space, which is occupied by Mercado by Butchertown. The asset was 94 percent occupied at the time of sale. Queens WeHo marks the second acquisition of the Chicago-based buyer’s Origin Exchange …
CONCORD, N.C. — Denholtz and Lansing Melbourne Group (LMG) have opened Novi Lofts, an 89-unit mixed-use complex located at 26 Union St. in Concord, about 25 miles northeast of Charlotte, North Carolina. The community offers studio, one- and two-bedroom units. Novi Lofts also includes 5,134 square feet of retail space, including a rooftop restaurant and a pilates studio that is scheduled to open in March. Novi Lofts is the third and final piece of the Novi portfolio, which consists of three mixed-use communities in downtown Concord. The portfolio also includes Novi …
BUENA PARK, CALIF. — C&C Development and Riverside Charitable Corp. have broken ground on Lincoln Avenue Apartments, an affordable housing project in Buena Park, roughly seven miles west of Anaheim, California. The project will comprise 54 apartments across four three-story buildings. The unit mix includes five residences for student families, 11 apartments for veterans and 13 permanent supportive housing units for families and individuals with special needs. Income restrictions were not disclosed. Units will range from approximately 500 to 900 square feet and will be both ADA-accessible and adaptable. The …
CHICAGO — Interra Realty, a Chicago-based investment services firm, has promoted Paul Waterloo to the role of managing partner, as well as Harrison Pinkus to managing director. Waterloo joined Interra in 2017. The most recent middle-market multifamily deals Waterloo has arranged include the $8.4 million sale of an 18-unit, new-construction asset in Wheaton, Illinois, and the $7.8 million sale of an 84-unit property in Waukegan, Illinois. Prior to this, he was a sales executive with ADP. He received a Bachelor of Science in marketing from the University of Illinois Urbana-Champaign. Since joining the company …
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