LOS ANGELES — THG Multifamily, a Marcus & Millichap brokerage team, has negotiated the sale of 1185 Myra Avenue, a 21-unit building in the Silver Lake neighborhood of Los Angeles. Kevin Green and Joseph Grabiec of THG Multifamily represented the seller and procured the buyer in the deal. The asset traded hands for $12 million. The buyer and seller were not disclosed. The seller significantly renovated the 21-unit property, which was built in 1964.
HOUSTON — Newmark has arranged the sale and financing of Stone Brook, a garden-style community in the Houston suburb of Baytown. Built in 2000, Stone Brook offers 376 units in one-, two- and three-bedroom layouts. Amenities include a pool, playground, dog park, gated access and covered parking. Zach Springer of Newmark Multifamily Capital Markets represented the seller, Knightvest Capital. Tip Strickland of Newmark’s debt, equity and structured finance team arranged the 10-year permanent fixed-rate loan on behalf of the buyer, Bluebird. The financing was secured through Freddie Mac at a loan-to-value …
LONG BEACH, CALIF. — CBRE has arranged the sale of two communities totaling 23 units for in Long Beach. The assets sold for a total $7.1 million to two separate buyers. In the first deal, CBRE’s Dan Blackwell and Trey Mitchell represented the seller in the disposition of a seven-unit property at 122 E. 55th Street in North Long Beach. A private investor based in Long Beach acquired the property from an Orange County-based repeat client of CBRE for $2.3 million. The property was built in 1962 on0.2 acres. The two-story, 5,755-square-foot building …
NEW BRAUNFELS, TEXAS — Capital Square and ITOCHU Corp. have formed a joint venture to acquire Creekside Terrace, a build-for-rent community currently being built in the San Antonio suburb of New Braunfels. Pulte Homes is the developer on the project. A development timeline was not disclosed. Creekside Terrace offers 100 units in three- and four-bedroom floor plans, as well as amenities such as a pool, pavilion and park.
PORTLAND, ORE. — Home Forward has opened the first phase of Dekum Court Apartments, a redevelopment project in Portland. Dekum Court originally comprised 40 units and was built in 1972. Home Forward will rebuild the 40 apartments, as well as add 147 new units. At full build-out, Dekum Court will offer 187 units. The first phase of the redevelopment is now complete, and the second phase will be completed in summer of 2025.
DALLAS — Miami-based developer Resia, formerly known as AHS Residential, has begun leasing Resia Dallas West in Dallas. The garden-style community features one-, two- and three-bedroom units across eight buildings. Of the total 336 units, 17 are affordable housing residences. Income restrictions for these units were not disclosed. Amenities include a pool, fitness center and a business center. Fifth Third Bank and Pealmark provided construction financing for the project. Rents start at $1,280 per month for a one-bedroom unit.
WAREHAM, MASS. — Pennrose and Wareham Redevelopment Authority (WRA) have broken ground on Littleton Drive, a 93-unit mixed-income community located off Swifts Beach Road in Wareham. The 16-acre project will include a 49-unit property with a mix of workforce and affordable apartments and a 44-unit affordable development for seniors aged 62 and older. The communities will be affordable to households earning between 30 and 100 percent of the area median income. Units will come in one-, two- and three-bedroom floor plans. Once the community is complete, Pennrose Management Co. will …
VININGS, GA. — GID has acquired ARIUM Vinings Station, a 315-unit community in the Atlanta suburb of Vinings, for an undisclosed price. The garden-style community offers amenities such as a dog park, pool, fitness center, grilling areas, clubhouse, tennis court and business center. GID plans to renovate sixty percent of units with modern finishes and update the fitness center, pool, tennis court, dog park and leasing center. The property will be rebranded as “Windsor Vinings.”
MANCHESTER, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Apex One91 in Manchester. IPA’s Victor Nolletti, Eric Pentore, Wes Klockner and Ross Friedel represented the seller, Paredim Communities, and procured the buyer, Cue Residential. Built in Manchester’s Spencer neighborhood in 1991, Apex One91 comprises 110 units across seven buildings. Units come in studio, one- and two-bedroom floor plans. Amenities include a pool, clubhouse, fitness center and laundry facilities.
NEW YORK CITY — Ariel Property Advisors has brokered the $5.1 million sale of two properties at 105 Wilson Ave. and 153 Wilson Ave. in Brooklyn’s Bushwick neighborhood. Dov Chein, Benjamin Vago and Victor Sozio represented the undisclosed seller in the transaction. The buyer was not disclosed. The building at 105 Wilson Ave. comprises four three-bedroom units and a Japanese restaurant, and the building at 153 Wilson Ave. includes six residential units and a barbershop.