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544 South Sixth Street in San Jose, California
CaliforniaInvestment SalesNewsWestern

Marcus & Millichap Arranges $4.3 Million Sale of 10-Unit Property in San Jose, California

by Channing Hamilton

SAN JOSE, CALIF. — Marcus & Millichap has arranged the sale of a 10-unit property located at 544 South Sixth Street in San Jose. The property sold for $4.3 million. Eymon Binesh, Adam Levin and Robert Johnston of Marcus & Millichap’s Palo Alto office marketed the property on behalf of the seller, a limited liability company. The community was originally built in 1969 on a 11,868 square-foot parcel of land. All units come in two-bedroom layouts and include washers and dryers. The community was recently renovated with new wood flooring, stainless …

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Georgetown Crossing in Savannah, Georgia
GeorgiaInvestment SalesNewsSoutheast

Peach Hill Capital, RK2 Property Group Acquire Georgetown Crossing in Savannah, Georgia for $25.6 Million

by Channing Hamilton

SAVANNAH, GA. — A joint venture between Peach Hill Capital and RK2 Property Group has acquired Georgetown Crossing, a 168-unit community in the Georgetown neighborhood of Savannah. The asset traded hands in an off-market transaction for $25.6 million. Mark Boyce and Blake Coffey of Berkadia represented the undisclosed seller in the deal. Georgetown Crossing was built in 1994. Located at 1015 King George Boulevard, the property comprises seven three-story residential buildings surrounding a clubhouse and a pool. Units come in one- and two-bedroom layouts. Other amenities include a series of …

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The Jade at Frisco in Frisco, Texas
Investment SalesNewsTexas

MLG Capital Acquires 424-Unit The Jade at Frisco Near Dallas

by Channing Hamilton

DALLAS — MLG Capital has acquired The Jade at Frisco, a 424-unit property in the northern Dallas suburb of Frisco. The garden-style community is located at 16220 Phoebe Road, adjacent to Craig Ranch, a 400-acre master-planned development. Amenities include a pool with sundeck and cabanas, fitness and yoga facilities, game room and EV charging stations. According to the property website, units come in one-, two- and three-bedroom floor plans.

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75 Glenwood Ave. in Yonkers, New York
Investment SalesNew YorkNewsNortheast

Redwood Realty Advisors Brokers $2.6 Million Sale of 18-Unit Portfolio in Yonkers, New York

by Channing Hamilton

YONKERS, N.Y. — Redwood Realty Advisors has arranged the $2.6 million sale of an 18-unit portfolio in Yonkers. The portfolio comprises eighteen units across multiple buildings at 53 & 74-76 Glenwood Ave. Michael Scrima and Thomas Gorman of Redwood Realty Advisors represented both the buyer and seller in the deal. Neither party’s name was disclosed. 

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CaliforniaInvestment SalesNewsWestern

Marcus & Millichap Brokers $3.5 Million Sale of 14-Unit Property in Los Angeles

by Channing Hamilton

LOS ANGELES — Marcus & Millichap has arranged the $3.5 million sale of a development currently underway in the Echo Park neighborhood of Los Angeles. The property is situated at 319 N Westlake Ave. and will comprise fourteen units, once completed. A construction timeline for the project was not disclosed. Jason Tuvia of Marcus & Millichap’s Encino office brokered the deal on behalf of the undisclosed seller. The buyer was also not disclosed.

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Moreland Apartments in San Jose, California
Affordable HousingCaliforniaInvestment SalesNewsWestern

Marcus & Millichap Brokers $71 Million Sale of Affordable Housing Community in San Jose, California

by Channing Hamilton

SAN JOSE, CALIF. — Marcus & Millichap has arranged the sale of Moreland Apartments, a 160-unit affordable housing community in San Jose. The asset traded hands for $71 million. Mitchell Zurich, Kirk Trammell, David Cutler and Joshua Johnson of Marcus & Millichap represented the seller, the original developer of the property, and procured the buyer.  Moreland Apartments consists of eight two-story residential buildings and one single-story amenities building on an 8-acre site. Apartments come in one- and two-bedroom floor plans. Townhome units come in three-bedroom layouts. Income restrictions for the …

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Millennium PQ in San Diego
CaliforniaInvestment SalesNewsWestern

The Dinerstein Cos. Sells 331-Unit Millennium PQ in San Diego for $167 Million

by Channing Hamilton

SAN DIEGO — The Dinerstein Cos. has completed the disposition of Millennium PQ, a 331-unit property located in San Diego’s Rancho Penasquitos neighborhood, to GID Real Estate Investments. The garden-style community traded hands for $167 million. Hunter Combs led the Walker & Dunlop investment sales team that represented the seller and buyer in the transaction.

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CaliforniaFinanceInvestment SalesNewsWestern

MMCC Brokers $3.4 Million Acquisition Financing for 30-Unit Property in Lompoc, California

by Channing Hamilton

LOMPOC, CALIF. — Marcus & Millichap Capital Corp. (MMCC) has arranged $3.4 million for the acquisition of a 30-unit community located at 701-717 N. F Street in Lompoc, 54 miles northwest of Santa Barbara, California. The property consists of five buildings, each housing six two-bedroom units. Ron Balys of MMCC’s Orange County office secured the loan, which features a one-year loan with an interest rate of 11.5 percent. A western based fund provided the financing. The borrower was a local investment management company.

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Vroom Street Apartments in Jersey City, New Jersey
DevelopmentFinanceNew JerseyNewsNortheast

JLL Capital Markets Arranges $13.1 Million in Construction Financing for Vroom Street Apartments in Jersey City, New Jersey

by Channing Hamilton

JERSEY CITY, N.J. — JLL Capital Markets has arranged $13.1 million in construction financing for the development of Vroom Street Apartments, a 42-unit project in the Journal Square neighborhood of Jersey City. JLL worked on behalf of the borrower, Urban Square Properties, to secure the two-year loan through First Bank. Max Custer and Salvatore Buzzerio led the JLL Capital Markets Debt Advisory team. The unit mix at Vroom Street Apartments will include five studio units, 14 one-bedroom units and 23 two-bedroom units. The average unit size will be 913 square feet. …

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Affordable HousingDevelopmentNew YorkNewsNortheast

Partnership Receives $332.3 Million in Financing for Redevelopment of West Brighton I and II on Staten Island

by Channing Hamilton

NEW YORK CITY — A partnership consisting of BFC Partners, CB Emmanuel, nonprofit organization Catholic Homes, Pinnacle City Living and the New York City Housing Authority (NYCHA) has secured $332.3 million in financing for the redevelopment of West Brighton I and II on Staten Island. The project will rehabilitate 574 affordable housing units that are home to more than 1,300 residents. The development team will also reactivate 24 vacant units, with 12 restored as permanently affordable units and 12 converted into a new senior center. Planned renovations to West Brighton …

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