News

Cushman & Wakefield Arranges Sale of 303-Unit Harlow in Atlanta Suburb

by Channing Hamilton January 12, 2024

SMYRNA, GA. — Cushman & Wakefield has negotiated the sale of Harlow, a recently-completed community in the Atlanta suburb of Smyrna. RA Capital Partners purchased the asset from South City Partners for an undisclosed price. Robert Stickel, Alex Brown, Ashlyn Warren, Michael Kay, and Sim Patrick of Cushman & Wakefield represented the seller in the deal. Harlow offers 303 units, as well as more than 6,000 square feet of amenity space. The property is situated nearby The Battery, a mixed-use entertainment district and home of the Atlanta Braves.

January 12, 2024

Idaho Investment Sales News Western

Hamilton Zanze Sells 229-Unit Arbor Crossing in Boise, Idaho

by Channing Hamilton January 12, 2024

BOISE, IDAHO — San Francisco-based investment firm Hamilton Zanze has sold Arbor Crossing, a 229-unit community in Boise. The sales price and buyer were not disclosed. Arbor Crossing was built in 1992 at 5122 W Stoker Lane. The property offers one-, two- and three-bedroom units with an average size of 930 square feet. Community amenities include a fitness center, business center, pool, daycare, playground, coffee and tea bar, detached garages, a sports court and a gazebo with a grilling area.

January 12, 2024

Investment Sales New Jersey News Northeast

Kislak Negotiates $6.9 Million Sale of Sheridan Gardens Apartments in Roselle, New Jersey

by Channing Hamilton January 12, 2024

ROSELLE, N.J. — The Kislak Co. has arranged the $6.9 million sale of Sheridan Garden Apartments, a 35-unit complex in the New York City suburb of Roselle. Sheridan Garden Apartments was originally built in 1928. Joni Sweetwood of Kislak represented the seller, an entity doing business as Sheridan Estate Urban Renewal LLC, in the deal. Sweetwood also procured the buyer, Harrison Grove Holdings LLC.

January 12, 2024

Hawaii Avenue Apartments in Washington, D.C.

Affordable Housing Finance News Northeast Washington, D.C.

Red Oak Capital Provides $5.8 Million for Affordable Housing Community in Washington, D.C.

by Channing Hamilton January 11, 2024

WASHINGTON, D.C. — Red Oak Capital Holdings has provided a $5.8 million bridge loan for Hawaii Avenue Apartments, an affordable housing community located in Washington, D.C.’s Brookland neighborhood. The interest-only loan features a 12-month term with two six-month extension options and an all-in interest rate of 11 percent. The financing was underwritten based on the property’s forecast stabilized value of $8 million. The borrower, an entity doing business as Legacy Lofts II & III, plans to use the funds to acquire and rehabilitate the property into 22 apartments that will …

January 11, 2024

Investment Sales News Texas

Northmarq Brokers Sale of 118-Unit Las Misiones Apartments in Mission, Texas

by Channing Hamilton January 10, 2024

MISSION, TEXAS — Northmarq has brokered the sale of Las Misiones Apartments, a 118-unit complex in the Rio Grande Valley city of Mission. McGuire Family Properties purchased the asset from a pair of private investors for an undisclosed price. Zar Haro, Moses Siller, Phil Grafe, Bryan VanCura and Brian Booth of Northmarq brokered the deal. Las Misiones Apartments was built in 2005. The property offers one-, two- and three-bedroom units. Amenities include a pool, fitness center, business center, playground, clubhouse, basketball court and a lounge.

January 10, 2024

California Investment Sales News Western

CBRE Brokers $5 Million Sale of Crestview Apartments in Costa Mesa, California

by Channing Hamilton January 10, 2024

COSTA MESA, CALIF. — CBRE has arranged the sale of Crestview Apartments, a 19-unit property in Costa Mesa. Crestview Apartments was built in 1957 on 0.5 acres. Dan Blackwell and Mike O’Neill represented the seller in the deal. Blackwell and O’Neill, along with Jack O’Connor, also represented the buyer. Both parties were Orange County-based private investors. Crestview Apartments rises two stories and comprises one 8,931-square-foot building. The value-add property includes in-place RUBS (Ratio Utility Billing System), where tenants pay for water and trash, in addition to being individually metered for …

January 10, 2024

Investment Sales News Texas

Marcus & Millichap Brokers Sale of 288-Unit Brookside in Arlington, Texas

by Channing Hamilton January 10, 2024

ARLINGTON, TEXAS — Marcus & Millichap has arranged the sale of Brookside, a 288-unit asset in Arlington. Reap Capital acquired the property, which comprises 22 buildings, for an undisclosed price. Marcus & Millichap’s Racht, Nick Fluellen, Bard Hoover and Chris Pearson represented the seller in the deal. Amenities at Brookside include a pool, fitness center and three outdoor grilling stations. Apartments feature stainless-steel appliances, fireplaces, reserved parking, covered parking and walk-in closets.

January 10, 2024

The Grove at La Frontera in Arlington, Texas

Development Finance News Texas

JLL Capital Markets Arranges Construction Financing for The Grove at La Frontera Near Dallas

by Channing Hamilton January 9, 2024

ARLINGTON, TEXAS — JLL Capital Markets has arranged a loan to facilitate the construction of The Grove at La Frontera, a 396-unit project in the Dallas suburb of Arlington. John Brownlee, Bo Beidleman and Chad Lisbeth of JLL worked on behalf of the borrower, Zale Properties, to secure the four-year, fixed-rate loan through Principal Asset Management. The Grove at La Frontera will include 336 apartment units, 60 single-family rental units and 10,000 square feet of ground-floor retail. Amenities include two pools, a fitness center, pickleball courts, a dog park and pet …

January 9, 2024

Finance News North Carolina Southeast

NewPoint Provides $45 Million to Refinance 300-Unit Community in Charlotte, North Carolina

by Channing Hamilton January 9, 2024

CHARLOTTE, N.C. — NewPoint Real Estate Capital has provided a $45 million lease-up bridge loan to refinance a recently completed 300-unit community in Charlotte. Mike Ortlip of NewPoint originated the floating-rate, interest-only bridge loan, which features a two-year initial term. The borrower is an undisclosed North Carolina-based development firm. The property offers a mix of one-, two- and three-bedroom apartments. Amenities include a pool, grilling pavilion, fitness center with a yoga and spinning room, a billiards room and a dog park.

January 9, 2024

Investment Sales News Texas

The Multifamily Group Arranges Sale of 72-Unit Lorenzo Apartments in San Antonio

by Channing Hamilton January 8, 2024

SAN ANTONIO — The Multifamily Group (TMG), a Dallas-based commercial real estate brokerage firm, has arranged the sale of Lorenzo Apartments in San Antonio. TMG’s Jon Krebbs represented the seller, while Christopher Siemasko procured the buyer. Neither party was disclosed. Lorenzo Apartments was built in 1960. The property comprises 72 units in one- and two-bedroom layouts. Amenities include a laundry facility, bark park and 24-hour courtesy patrol.

January 8, 2024

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