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ACI Apartments Brokers $9.6M Acquisition of Villas Bonita Multifamily Property in El Centro, California

EL CENTRO, CALIF. — ACI Apartments has arranged the purchase of Villas Bonita, a multifamily complex located at 699 Wake Ave. in El Centro. Imperial Properties acquired the asset from Villas Bonita LCC for $9.6 million. Built in 2005, the 71,250-square-foot community features 75 apartments spread across seven two-story buildings. The property offers one-, two- and three-bedroom apartment layouts ranging from 730 square feet to 1,130 square feet, each with an in-unit washer/dryer and …

Colliers Arranges Sale of 1,087-Bed Student Housing Community Near Georgia Southern

STATESBORO, GA. — Colliers International has arranged the sale of Cottage Row, a 1,087-bed student housing community located near the Georgia Southern University campus in Statesboro. Rialto Capital Advisors sold the property to a joint venture between XFD Real Estate Partners, Ash Real Estate, Saxum Real Estate and Anchor Real Estate Capital for an undisclosed price. Sean Baird, Jonathan Holt and Will Mathews of Colliers represented both the buyer and seller in the transaction. Cottage Row …

MassHousing Provides $87.2M in Financing for Preservation of Apartment Property Near Boston

CAMBRIDGE, MASS. — MassHousing has provided $87.2 million in financing for the renovation and preservation of a 300-unit affordable housing community located at 808 Memorial Drive in Cambridge. MassHousing provided the borrower, Homeowners Rehab Inc., with a $61.5 million tax-exempt construction and permanent loan, $24.9 million in taxable and tax-exempt tax credit equity bridge financing and a $787,763 interest reduction payment (IRP) loan. The project will …

Alpha Realty Arranges Sale of 48-Unit Apartment Building in Brooklyn

NEW YORK CITY — Alpha Realty has arranged the sale of a 48-unit apartment building located at 1675 Ocean Ave. in the Midwood area of Brooklyn. The property also houses two office spaces for a total of approximately 54,000 square feet of commercial space. Lev Marshev and Yehuda Leser of Alpha Realty brokered the off-market transaction between a local family that sold the asset to a private investor for $8.5

Rosewood, Trinsic Residential to Develop 339-Unit Aura Avery Ranch Apartments in Austin

AUSTIN, TEXAS — A partnership between two Dallas-based firms, Rosewood Property Co. and Trinsic Residential Group, will develop Aura Avery Ranch, a 339-unit apartment community that will be located on the north side of Austin. Designed by Davies Collaborative, the property will be built on 16.1 acres and will offer amenities such as a pool, fitness center, dog park and a resident clubhouse. The first units are expected to be available for lease by spring 2021, and full completion is slated …

Presidium Begins Leasing 272-Unit Apartment Community at Pecan District in Metro Austin

PFLUGERVILLE, TEXAS — Texas-based developer Presidium has begun leasing Presidium The Pecan District, a 272-unit apartment community in the northern Austin suburb of Pflugerville. The property represents Phase I of the Texas-based developer’s Pecan District mixed-use project, a multi-phase project that will feature more residential units, office space and retail and restaurant space. Mark Odom Studios designed the apartment community, which features one- and two-bedroom units and amenities …

Hunt Real Estate Capital Provides $11M Loan for Refinancing of Dallas Multifamily Asset

DALLAS — Hunt Real Estate Capital has provided an $11 million loan for the refinancing of Buckner Village Apartments, a 172-unit multifamily asset in Dallas. Built in 1972, Buckner Village Apartments is a garden-style workforce housing community that was approximately 98 percent occupied at the time of the loan closing. The loan carried a fixed interest rate and a 12-year term with two years of interest-only payments. Duke Stone of Churchill Capital placed the loan on behalf of the borrower, …

Western Wealth Capital Sells Signature Place Apartments in Tempe for $62.5M

TEMPE, ARIZ. — Western Wealth Capital has completed the sale of Signature Place, a multifamily asset located at 600 W. Grove Parkway in south Tempe. Knightvest Capital acquired the property for $62.5 million. Signature Place features 300 apartments with nine-foot ceilings, fully equipped kitchens, full-size washers/dryers and private patios. Select units feature walk-in closets, dual vanities and fireplaces. Community amenities include two swimming pools, a fitness center, lighted tennis …

Ensign Group Acquires 224-Unit Seniors Housing Campus in Tempe, Arizona

TEMPE, ARIZ. — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the real estate and operations of a post-acute care retirement campus located in Tempe. The acquisition includes Tempe Post Acute, a 62-bed skilled nursing facility, and Desert Marigold Senior Living of Tempe, a senior living center with 72 assisted living beds and 90 independent living units. These acquisitions bring Ensign’s growing portfolio to 226 healthcare operations, 24 of which also include assisted living …

Levin Johnston Arranges $34.3M Sale of Three-Property Multifamily Portfolio in Bay Area

SUNNYVALE, LOS GATOS AND SAN JOSE, CALIF. — Levin Johnston of Marcus & Millichap has arranged the sales of three apartment properties located in the Bay Area for a total consideration of $34.2 million. Adam Levin and Robert Johnston of Levin Johnston of Marcus & Millichap represented the seller and procured the buyer for the sales. Details on the buyer and seller were not disclosed. The transactions include: The $15.3 million sale of 1234 Sunnyvale Saratoga Road in …

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