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Infinity Apartment Homes in Arlington, Virginia
Investment SalesNewsSoutheastVirginia

Shoreham Capital Acquires Infinity Apartment Homes in Arlington, Virginia, for $51 Million

by Channing Hamilton

ARLINGTON, VA. — Shoreham Capital has purchased Infinity Apartment Homes, a 227-unit property in Arlington, for $51 million. Infinity Apartment Homes offers a mix of studio, one-, two- and three-bedroom units. Amenities include a pool, fitness center, lounge, bike storage, package lockers and business center. The community is located within the Columbia Pike Corridor near Amazon’s HQ2 project. Robert Dean and Jonathan Greenberg of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the undisclosed seller in the deal. Cameron Chalfant and Tyler Johnson of IPA arranged a …

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3926 Franklin Ave. in Fullerton, California
CaliforniaInvestment SalesNewsWestern

CBRE Negotiates $2.7 Million Sale of 10-Unit Property in Fullerton, California

by Channing Hamilton

FULLERTON, CALIF. — CBRE has arranged the sale of a 10-unit building located at 3926 Franklin Ave. in Fullerton, just north of Anaheim, California. The asset traded hands for $2.7 million in an off-market transaction. Built in 1985, the two-story building comprises 7,410 square feet and offers exclusively two-bedroom units. The property also includes 17 parking spaces, including 12 garage spaces, as well as an on-site laundry facility. Dan Blackwell of CBRE, along with Andrew Boukather, who is now with MBI Equity Partners, represented the Los Angeles County-based buyer in the …

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Shelby Commons in Minneapolis
Affordable HousingDevelopmentLeasing & MarketingMidwestMinnesotaNews

Woda Cooper, Project for Pride in Living Open 46-Unit Affordable Shelby Commons in Minneapolis

by Channing Hamilton

MINNEAPOLIS — Woda Cooper Cos. Inc. and Project for Pride in Living (PPL) have opened Shelby Commons, a 46-unit affordable housing community in the North Loop neighborhood of Minneapolis. The four-story building features one-, two- and three-bedroom units. All of the units are reserved for households earning 30 to 80 percent of the area median income. Amenities include a community room, laundry facility and outdoor spaces such as a rooftop terrace, playground and community gardens. Underground parking is also available on-site. The property will feature two large murals currently underway …

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Hanover Parkview in Houston
FinanceNewsTexas

JLL Capital Markets Arranges Refinancing for Two Properties Totaling 745 Units in Houston

by Channing Hamilton

HOUSTON — JLL Capital Markets has arranged financing for Hanover Autry Park and Hanover Parkview, two communities located in Houston. JLL represented the borrowers, Hanover Co. and Lionstone Investments, to secure the five-year, fixed-rate loans from accounts managed by KKR. The borrowers will use the funds to refinance their existing construction loans that JLL sourced in 2019. Cortney Cole, Colby Mueck, Laura Brown, Davis Burnett and Scot Sarlin led the JLL Capital Markets Debt Advisory team. Hanover Autry Park is a 23-story high-rise community located at 811 Buffalo Park Drive. …

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The Village at Union Mills in Lacey, Washington
Investment SalesNewsWashingtonWestern

TMR Investments Purchases 182-Unit The Village at Union Mills in Lacey, Washington

by Channing Hamilton

LACEY, WASH. — TMR Investments has acquired The Village at Union Mills, a 182-unit community located at 8146 Sweetbrier Lane SE in Lacey, roughly five miles east of Olympia, Washington. The seller was not disclosed. The buyer plans to invest $4.1 million to execute a value-add strategy for the property. Planned renovations include updates to the fitness center, clubhouse and outdoor amenity spaces, as well as the addition of electric vehicle charging stations. Each apartment will also receive new stainless steel appliances, stone countertops and contemporary lighting and hardware.

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Huntington Townhomes in Shelton, Connecticut
ConnecticutInvestment SalesNewsNortheast

Institutional Property Advisors Brokers Sale of 99-Unit Community in Shelton, Connecticut

by Channing Hamilton

SHELTON, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Huntington Townhomes, a 99-unit community in Shelton, approximately 10 miles west of New Haven, Connecticut. Beachwold Residential acquired the asset from an affiliate of Inland Private Capital for an undisclosed price. Victor Nolletti, Eric Pentore, Wes Klockner and Ross Friedel of IPA represented the seller and procured the buyer in the deal. Huntington Townhomes was constructed in 2008 on seven acres. The unit mix includes 86 townhomes and 13 apartments. Units come …

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The Parker in Chicago
IllinoisInvestment SalesMidwestNews

JLL Capital Markets Arranges Sale of 29-Story Apartment Tower in Chicago

by Channing Hamilton

CHICAGO — JLL Capital Markets has arranged the sale and acquisition financing of The Parker, a 29-story apartment tower in Chicago’s Fulton Market district. JDL Development purchased the high-rise community for an undisclosed price. The sellers were institutional investors advised by J.P. Morgan Asset Management and Atlantic Residential. Atlantic Residential, Focus Development and Shapack Partners built The Parker in 2016. The property is located at 730 W. Couch Place, around the corner from the city’s Randolph Street Restaurant Row. The Parker consists of 227 units in studio through three-bedroom layouts. …

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6744 Orizaba Ave. in Long Beach, California
CaliforniaInvestment SalesNewsWestern

CBRE Negotiates $2.4 Million Sale of Nine-Unit Property in Long Beach, California

by Channing Hamilton

NEWPORT BEACH, CALIF. — CBRE has arranged the $2.4 million sale of a nine-unit property located at 6744 Orizaba Ave. in Long Beach, 25 miles south of Los Angeles. Built in 1973, the building comprises 7,770 square feet across two stories. The community is situated on a 9,540-square-foot lot at the corner of Orizaba Avenue and East 67th Way. The unit mix includes one studio and eight two-bedroom apartments. The community also offer an on-site laundry facility and 10 single-car garages. The roof was replaced in 2017. Dan Blackwell, Trey Mitchell …

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IllinoisLeasing & MarketingMidwestNewsOperations

29th Street Capital Expands into Third-Party Property Management

by Channing Hamilton

CHICAGO — 29th Street Living, the property management division of 29th Street Capital (29SC), has expanded into third-party property management services. The division currently manages more than 55 properties across 23 markets. According to 29SC, 29th Street Living has a resident-first approach and is focused on providing cutting-edge technology and streamlining operations. 29SC is an investment management firm based in Chicago with back-office support in Louisville, Kentucky. The firm has acquired and developed more than 158 properties throughout the nation. 

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O’Connor Oaks in San Antonio
Investment SalesNewsTexas

Newmark Negotiates Sale of 165-Unit O’Connor Oaks in San Antonio

by Channing Hamilton

SAN ANTONIO — Newmark has arranged the sale of O’Connor Oaks, a 165-unit community located at 13658 O’Connor Road in northeast San Antonio. Jim Young and Chase Easley of Newmark Multifamily Capital Markets represented the seller, Austin-based JMB Group, in the deal. Salt Lake City-based Preserve Partners was the buyer. O’Connor Oaks was built in 1983. The garden-style community offers a mix of one-, two- and three-bedroom floor plans. The average unit size is 900 square feet. Amenities include two pools with sun lounges, outdoor grilling and picnic areas, a …

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