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Multifamily

Oasis at West Ashley
AcquisitionsMultifamilySouth CarolinaSoutheast

Berkadia Negotiates $19.5M Sale of Multifamily Property in Charleston

by Julia Sanders

CHARLESTON, S.C. — Berkadia has negotiated the $19.5 million sale of Oasis at West Ashley, a garden-style multifamily property in Charleston. Mark Boyce and Blake Coffey of Berkadia led the transaction on behalf of the seller, New York-based URS Capital Partners. The buyer was not disclosed. Built in 1979, Oasis at West Ashley features 116 units with newly renovated kitchens, walk-in closets and select units with patio or balcony options. The apartment community sold for a per-unit price of $167,672. Located at 1751 Dogwood Road, the property is 7.5 miles from the Charleston International Airport. The property was 96 percent occupied at the time of sale.

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AcquisitionsMultifamilyTexas

Bell Partners Acquires 435-Unit CityLine Park Apartments in Metro Dallas

by Taylor Williams

RICHARDSON, TEXAS — North Carolina-based investment firm Bell Partners has acquired CityLine Park, a 435-unit apartment community located within the CityLine mixed-use development in the northeastern Dallas suburb of Richardson. Built in 2019, the property features studio, one-, two- and three-bedroom units and amenities such as a pool, fitness center and a clubhouse with a coffee bar. Bell Partners will rebrand the property as Bell CityLine.

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Presidium-Chase-Hill-San-Antonio
DevelopmentMultifamilyTexas

Presidium Begins Leasing 370-Unit Multifamily Project in Northwest San Antonio

by Taylor Williams

SAN ANTONIO — Texas-based developer Presidium has begun leasing Presidium Chase Hill, a 370-unit multifamily project in northwest San Antonio. Designed by REES Associates Inc., the community will be situated on a 17-acre site near La Cantera Resort & Spa, which USAA Real Estate recently sold. Units will feature stainless steel appliances, granite countertops and walk-in closets. Amenities will include a pool, outdoor kitchens with grilling areas, a playground, dog park, fitness center, media room, bar and an onsite car wash. Presidium expects to complete the project by next summer.

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Stafford-Oaks
AcquisitionsMultifamilyTexas

Catalyst Equity Partners Buys 176-Unit Workforce Housing Community in Metro Houston

by Taylor Williams

STAFFORD, TEXAS — Dallas-based investment firm Catalyst Equity Partners has purchased Stafford Oaks, a 176-unit workforce housing community in the southwestern Houston suburb of Stafford that was built in 1978. The new ownership plans to implement a $2 million capital improvement program that will add amenities such as a turf soccer field and package lockers, as well as upgrade unit interiors with new flooring, appliances and washer/dryer connections. The seller was undisclosed.

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AcquisitionsMultifamilyTexas

Marcus & Millichap Brokers Sale of 50-Site Mobile Home Park in Mineral Wells, Texas

by Taylor Williams

MINERAL WELLS, TEXAS — Marcus & Millichap has brokered the sale of Tuck’s Mobile Home Park, an 50-site manufactured housing community in Mineral Wells, about 50 miles west of Fort Worth. Robert Denninger of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.

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The-Preserve-at-Great-Pond-Windsor-Connecticut
AcquisitionsConnecticutMultifamilyNortheast

IPA Negotiates $63M Sale of Preserve at Great Pond Apartments in Windsor, Connecticut

by Taylor Williams

WINDSOR, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $63 million sale of The Preserve at Great Pond, a 230-unit apartment community in Windsor, a northern suburb of Hartford. The property was built on 12 acres in 2020 and offers studio, one- and two-bedroom units. Amenities include a pool, dog park and a fitness center. Victor Nolletti, Eric Pentore and Wes Klockner of IPA represented the seller, an entity doing business as Eastpointe Great Pond Owner LLC, in the transaction. The trio also procured the buyer, Preserve Ventures LLC.

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The-James-Ridge-Park-New-Jersey
DevelopmentMultifamilyNew JerseyNortheast

Claremont Development Opens 240-Unit Apartment Complex in Park Ridge, New Jersey

by Taylor Williams

PARK RIDGE, N.J. ­— Claremont Development has opened The James, a 240-unit apartment complex in the Northern New Jersey community of Park Ridge that includes 17,600 square feet of retail space. Units come in studio, one- and two-bedroom floor plans and feature stainless steel appliances, quartz countertops, espresso cabinetry and tile backsplashes. Indoor amenities include a coffee bar, game room, catering kitchen, coworking spaces with private offices, fitness center and a yoga studio. Outside, residents have access to multiple gathering areas, including an outdoor pool, grilling and dining areas, fire pits, TV and lounge areas and a turf lawn. Rents start at $1,965 per month for a studio unit.

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Superstition-Canyon-Mesa-AZ
AcquisitionsArizonaMultifamilyWestern

KB Development Sells Superstition Canyon Apartments in Mesa, Arizona for $65M

by Amy Works

MESA, ARIZ. — KB Development has completed the sale of Superstition Canyon, an apartment community located in Mesa. A Southern California-based investor acquired the asset for $65 million. Located at 1247 S. 96th St., Superstition Canyon features 200 apartments; a heated swimming pool with TV, fireplace and barbecues; sauna; fitness center; clubhouse with a billiards table; business center; basketball court; sand volleyball court; and gated dog park. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE’s Phoenix Multifamily Institutional Properties represented the seller in the deal.

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Capstone-Centerra-Loveland-CO
ColoradoDevelopmentMultifamilySeniors HousingWestern

Hunt Midwest Breaks Ground on 102-Unit Seniors Housing Community in Loveland, Colorado

by Amy Works

LOVELAND, COLO. — Hunt Midwest has broken ground on The Capstone at Centerra, a 78,000-square-foot assisted living and memory care community in Loveland. Located within the 3,000-acre, master-planned Centerra development, the community is projected to open in late 2022. Integral Senior Living (ISL) will be the operator of the 102-unit property.

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AcquisitionsMultifamilyWashingtonWestern

Berkadia Negotiates $11.1M Sale of Evergreen Park Multifamily Community in Olympia, Washington

by Amy Works

OLYMPIA, WASH. — Berkadia has arranged the sale of Evergreen Park, a garden-style apartment property located at 2121 Evergreen Park Drive SW in Olympia. The community traded for $11.1 million, or $150,000 per unit. The names of the buyer and seller were not released. Built in 1979, Evergreen Park features 74 one- and two-bedroom apartments. The property has been partially renovated and was 99 percent occupied at the time of sale. Chad Blenz, Mitchell Belcher, Steven Chattin and Jay Timpani of Berkadia Seattle represented the seller in the transaction.

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