INGLEWOOD, CALIF. — Bell Partners has received a $73 million loan for the refinancing of Bell South Bay, a 264-unit community located at 11622 Aviation Blvd. in Inglewood, about 13 miles southwest of Los Angeles. Justin Nelson and Craig West of Walker & Dunlop’s Capital Markets and Multifamily Finance teams arranged the bridge loan. The financing was provided by accounts managed by KKR. Built on 3.05 acres in 2016, Bell South Bay consists of 264 apartments. Units come in studio, one- and two-bedroom layouts. Amenities include a fitness center and …
PHOENIX — IMT Capital, together with its affiliated property management company IMT Residential, has acquired Marquis at Desert Ridge, a 370-unit property in the Desert Ridge neighborhood of Phoenix. Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen of CBRE represented the seller, a national investor and operator, in the deal. Built in 2014, Marquis at Desert Ridge offers one- and two-bedroom units. Amenities include a pool and spa area with a sundeck lounge and cabanas, outdoor kitchen and grill stations, fitness center, clubhouse with entertainment kitchen, billiard room and business center. The new …
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 …
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 …
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- …
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 …
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 …
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 …
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 …
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.