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Agave Azul on Boulder Apartments in Dallas

Marcus & Millichap Brokers Sale of 66-Unit Asset in Dallas

by Channing Hamilton January 27, 2025

DALLAS — Marcus & Millichap has arranged the sale of Agave Azul on Boulder Apartments, a 66-unit community in Dallas. Built in 1965, Agave Azul on Boulder Apartments offers one-, two- and three-bedroom floor plans. The average unit size is 950 square feet. The property was renovated with new individual HVAC systems and pitched roofs over the past five years. Ford Braly, Al Silva and Dylan York of Marcus & Millichap’s Fort Worth office marketed the asset on behalf of the seller, a locally based private investor. The seller originally …

January 27, 2025

Prospect Union Square in Somerville, Massachusetts

Finance Massachusetts News Northeast

Joint Venture Secures Loan for Refinancing of 450-Unit Property Near Boston

by Channing Hamilton January 27, 2025

SOMERVILLE, MASS. — A joint venture between affiliates of Magellan Development Group, RAS Union Square Development LLC, Cypress Equity Investments and Affinius Capital has secured a loan for the refinancing of Prospect Union Square in Somerville, roughly 5 miles northwest of Boston. Danny Kaufman, Brett Paulsrud, Madeline Joyce and Ali Howard of JLL Capital Markets arranged the loan through Northwestern Mutual. Located at 20-50 Prospect St. in Somerville’s Union Square neighborhood, Prospect Union Square spans two buildings on a 1.3-acre site. The property consists of a 25-story high-rise tower and …

January 27, 2025

Development Finance Illinois Midwest News

Waterton Contributes Equity for DAC’s Aurora, Illinois, Development

by Lynn Peisner January 27, 2025

AURORA, ILL. — Waterton has contributed $16 million in preferred equity for the development of Residences at Eastbank, a five-story, 258-unit, mid-rise project underway in downtown Aurora, about 40 miles west of Chicago. Geneva Capital Group arranged the equity and provided a $45 million senior loan. Further support came from the City of Aurora. Construction began in May 2024 and is expected to be completed in 2026. According to the developer, DAC Developments, the total project cost is $90.4 million. Floor plans will include a mix of studios, one-, two- …

January 27, 2025

Investment Sales Massachusetts News Northeast

CBRE Brokers Sale of 133-Unit Boston Apartment Complex

by Channing Hamilton January 26, 2025

BOSTON — CBRE has brokered the sale of a 133-unit apartment complex located in the Dorchester Lower Mills area of Boston. The site originally housed the Baker Chocolate Factory, and the building was converted to residential usage in the 1980s and subsequently renovated in 2008. Units come in studio, one- and two-bedroom floor plans and have an average size of 793 square feet. Amenities include a fitness center and a business center. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller, a partnership created …

January 26, 2025

Investment Sales Midwest Minnesota News

Habitat Acquires 214-Unit Rental Townhome Community in Woodbury, Minnesota

by Channing Hamilton January 26, 2025

WOODBURY, MINN. — Habitat has acquired Seasons Villas, a multifamily community with 214 townhome-style rental units in the Twin Cities suburb of Woodbury. The purchase price was undisclosed. Seasons Villas features 47 single-story units and 167 two-story units. Floor plans span 960 to 1,160 square feet. Habitat also assumed management of the property. In addition to performing routine asset preservation and maintenance improvements, Habitat plans to enhance the pet-friendly community with the addition of a dog park. The seller was Boston Capital Group, and Willow Bridge Property Co. previously managed …

January 26, 2025

Investment Sales Midwest News Wisconsin

FPA Multifamily Buys Two Communities Totaling 674 Units in Fitchburg, Wisconsin

by Channing Hamilton January 26, 2025

FITCHBURG, WIS. — CBRE has arranged the sale of The Pines and The Fairways, two properties totaling 674 units in Fitchburg, a southern suburb of Madison. FPA Multifamily LLC purchased the assets from E.J. Plesko & Associates Inc. affiliated entities for an undisclosed price. CBRE’s Gretchen Richards, Patrick Gallagher, Matson Holbrook, Sean Beuche, Abe Appert, Keith Collins and Ted Abramson represented the seller. The Pines is located at 2302 High Ridge Trail near the southeastern end of Nine Springs Golf & Disc Golf Course. Built in 1978, the 305-unit property …

January 26, 2025

Indiana Investment Sales Midwest News

CBRE Arranges Sale of 222-Unit Federal Hill Apartments in Noblesville, Indiana

by Channing Hamilton January 26, 2025

NOBLESVILLE, IND. — CBRE has arranged the sale of Federal Hill Apartments, a 222-unit multifamily property in the Indianapolis suburb of Noblesville. The sales price was undisclosed. Built in 2024, the asset features a range of studio, one- and two-bedroom floor plans averaging 863 square feet. Amenities include a fitness center, pool, indoor pet grooming spa, electric vehicle charging stations and an outdoor grilling area. There are three onsite retailers — Indie Coffee Roasters, Café Noricha and Bocado. Hannah Ott, George Tikijian, Cam Benz, Clair Hassfurther, Ryan Stockamp and Sean …

January 26, 2025

Investment Sales News Texas

Quannah Partners, VaultCap Sell 114-Unit Property in Waxahachie, Texas

by Channing Hamilton January 26, 2025

WAXAHACHIE, TEXAS — A partnership between Denver-based Quannah Partners and Dallas-based VaultCap Partners has sold The Townhomes at Bluebonnet Trails, a 114-unit property located in the southern Dallas suburb of Waxahachie. The community offers three- and four-bedroom residences with private patios/balconies as well as various outdoor amenities. Eric Stockley, Taylor Snoddy and Charles Hubbard of Northmarq arranged the sale of the property. The buyer and sales price were not disclosed.

January 26, 2025

Development Finance News Texas

David B. Norton Arranges $35.4 Million Construction Financing for Project Near San Antonio

by Channing Hamilton January 26, 2025

UNIVERSAL CITY, TEXAS — Capital advisory firm David B. Norton Inc. has arranged $35.4 million in construction financing for a 268-unit project in Universal City, a northeastern suburb of San Antonio. The development will consist of 10 buildings on a 14-acre site. The financing, which represents about 77 percent of the total project capitalization, includes both debt from an undisclosed regional bank and preferred equity from an undisclosed institutional investor. The name of the developer was also not released.

January 26, 2025

Sweetwater at Buckingham in Richardson, Texas

Investment Sales News Texas

DVO Real Estate Buys 312-Unit Community in Richardson, Texas

by Channing Hamilton January 25, 2025

RICHARDSON, TEXAS — DVO Real Estate has purchased Sweetwater at Buckingham, a 312-unit community in the northeastern Dallas suburb of Richardson. The property offers one-, two- and three-bedroom units with an average size of 889 square feet. Amenities include a pool, fitness center, business center and a playground. Drew Kile, Joey Tumminello, Michael Ware, Taylor Hill, William Hubbard, Cameron Purse and Shelby Clark of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller, REM Finance, in the transaction. The team also procured DVO as the buyer.

January 25, 2025

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