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The-Hemlock-Seattle
Investment SalesNewsWashingtonWestern

Security Properties Buys Seattle Portfolio for $400.8 Million

by Lynn Peisner

SEATTLE — Locally based Security Properties has acquired a five-property, 903-unit Seattle portfolio from Washington Holdings for $400.8 million. The sale includes Liza Eastlake, The Hemlock, The Hayes on Stone Way, Carter on the Park and Heron Flats & Lofts. Eastdil Secured represented Washington Holdings in the transaction. According to the parties to the transaction, the portfolio sale marks the largest dollar-figure trade in the region to date this year. Security Properties is seeking additional investments in Denver, Nashville, Tennessee, and the San Francisco Bay area.

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8th-and-Republican-Seattle
Investment SalesNewsWashingtonWestern

CBRE Arranges $94.9 Million Seattle Transaction

by Lynn Peisner

SEATTLE — CBRE has arranged the $94.9 million sale of 8th + Republican in Seattle’s South Lake Union neighborhood. CBRE did not disclose the identity of either party to the transaction, but according to the Daily Journal of Commerce, the buyer was locally based Goodman Real Estate along with an unnamed partner, and the seller was the original developer, Scottsdale, Arizona-based The Wolff Co. CBRE’s Eli Hanacek, Kyle Yamamoto, Mark Washington and Natalie Kasper represented the seller. According to CBRE Research, this transaction is one of the highest prices per …

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Durango-Las-Vegas
DevelopmentNevadaNewsWestern

NRP Group, Haseko Underway on $133 Million Las Vegas Project

by Lynn Peisner

LAS VEGAS — The NRP Group has partnered with Haseko North America, the U.S. subsidiary of a Japanese condominium builder, and broken ground on a $133 million community in Las Vegas. Located at the northeast corner of West Maule Avenue and Gagnier Boulevard, the site is across from the Durango Casino & Resort and adjacent to The UnCommons, a mixed-use destination featuring apartments, retail, dining and office space. The four-story, single-building development will comprise a mix of 309 studio, one-, two- and three-bedroom units. Amenities include a pool, two landscaped …

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The-Perennial
Affordable HousingDevelopmentNew YorkNewsNortheast

Construction Underway on $150 Million Redevelopment of Former Queens Hospital

by Lynn Peisner

NEW YORK CITY — Foxy Development and Selfhelp Realty Group have closed on financing and begun construction of The Perennial, a 145-unit, multi-generational affordable housing property that also will be the future home of the Forest Hils Jewish Center. The project is a redevelopment of a former Parkway Hospital building that is located at 70-35 113th St. in the Forest Hills section of Queens. The building has been vacant since the hospital closed down in 2008. The building was constructed in the 1960s. Once complete, by approximately the end of …

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Nines-at-Kierland-Scottsdale
ArizonaColoradoGeorgiaInvestment SalesNevadaNewsNorth CarolinaSouth CarolinaSoutheastWestern

Sunroad Sells $1.1 Billion Portfolio to Fairfield

by Lynn Peisner

SAN DIEGO — Sunroad Enterprises has sold a 15-property portfolio to Fairfield for $1.1 billion. Both firms are based in San Diego. The portfolio includes properties in six states: six in Arizona, one in Nevada, three in Colorado, two in North Carolina, two in South Carolina and one in Georgia. The deal took six years to put together. JLL, representing Sunroad, arranged the sale as well as a $415 million Freddie Mac loan for 10 of the assets and an additional $250 million in fixed-rate senior debt provided by KKR. …

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Emerson-Sleepy-Hollow
Company NewsInvestment SalesNewsNortheast

Toll Brothers Exits Apartment Business With $347 Million Sale to Kennedy Wilson

by Lynn Peisner

FORT WASHINGTON, PA. — Toll Brothers (NYSE: TOL) has agreed to sell its portfolio of stabilized and in-development apartment and student housing properties to Kennedy Wilson (NYSE: KW) for $347 million. The transaction is expected to close in October. As part of the transaction, Kennedy Wilson will acquire Toll Brothers’ general partner interests in 18 apartment and student housing properties with a combined total asset value of $2.2 billion. Kennedy Wilson also will acquire a pipeline of 29 sites in various stages of development which, if completed, would total approximately …

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The-Mason-Chicago
IllinoisInvestment SalesMidwestNews

Waterton Buys Fulton Market High-Rise for $90 Million

by Lynn Peisner

CHICAGO — Waterton has acquired The Mason, a 263-unit high-rise in Chicago’s Fulton Market district. According to CoStar, the asset traded for approximately $90 million, and the seller was a joint venture between Marquette Cos. and an affiliate of Deutsche Bank, which developed the property in 2019. Floorplans at The Mason include studios and one-, two- and three-bedroom apartments. Waterton plans to implement a light value-add program, which will include flooring upgrades in the units and enhancements to common areas and amenity spaces. The property features a pool, a fitness …

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Flats-at-East-Bay-Fairhope
AlabamaInvestment SalesNewsSoutheast

Oakley Group Buys Flats at East Bay in Fairhope, Alabama

by Lynn Peisner

FAIRHOPE, ALA. — Birmingham, Alabama-based investment and development firm Oakley Group has acquired Flats at East Bay in Fairhope for $49.8 million. Stoa Group was the seller. Craig Hey of Cushman & Wakefield arranged the sale. Oakley has appointed Arlington Properties to manage the asset. The 240-unit community is located at 9376 Twin Beech Road on the eastern shoreline of Mobile Bay, about 26 miles south of Mobile. Flats at East Bay was completed in 2024 and features 10 three-story buildings with one-, two- and three-bedroom units and amenities such …

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Westside-Village
DevelopmentNewsTexas

Fort Worth’s $1.7 Billion Westside Village to Include 1,785 Residential Units

by Lynn Peisner

FORT WORTH, TEXAS — FW Westside RE Investors, a partnership between The Keystone Group and Larkspur Capital, will begin construction of the first phase of a mixed-use project about two miles west of downtown Fort Worth in 2026 with completion slated for 2028. The $1.7 billion Westside Village project will be developed in phases on 37 acres at 100 University Drive in Fort Worth. Phase I will include a 308-unit multifamily community and a 100,000-square-foot office building, which will also include retail and restaurant space. HPI is leasing the office …

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Antioch
Affordable HousingCompany NewsInvestment SalesNews

Manulife, TruAmerica Team Up for $1 Billion Affordable Housing Venture

by Lynn Peisner

LOS ANGELES — Manulife Investment Management and TruAmerica Multifamily have forged a $1 billion, affordable housing-focused joint venture known as Anchor Point Residential. The partners’ debut investment is the acquisition of a 51-property, 6,000-unit LIHTC portfolio constructed between 2003 and 2023. The properties are located across major metro areas in California, Texas and Washington. The first portion of the investment closed in August with remaining deals to be completed through the fall. The names of the sellers were not disclosed. According to the two companies, the size of this acquisition, …

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