REBusinessOnline

Marcus & Millichap Brokers Sale of 225-Unit Apartment Complex Near Kansas City

OVERLAND PARK, KAN. — Marcus & Millichap has brokered the sale of Carson Street Towers, a 225-unit apartment complex in the Kansas City suburb of Overland Park. The sales price was undisclosed. Built in 2020, the property sits on just over two acres. Amenities include a fitness center, pool and covered parking. Jason Hornik, Greg Parker, Ryan Bowlby, Greg Price and Drew Isaac of Marcus & Millichap represented the seller, a private investor. The brokerage team also procured the buyer, …

Interra Realty Negotiates $8.3M Sale of Apartment Building in Skokie, Illinois

SKOKIE, ILL. — Interra Realty has negotiated the $8.3 million sale of a 43-unit apartment building located at 4602 Grove St. in Skokie, a northern suburb of Chicago. The transaction marks the largest multifamily sale in Skokie in five years, according to CoStar Group. Built in 1927, the property consists of two-bedroom units that were 93 percent occupied at the time of sale. Residents have access to onsite laundry, storage lockers, bike storage and garage parking. Joe Smazal of Interra …

Blue Heron Sells Indigo Apartments in Metro Raleigh for $121.9M

MORRISVILLE, N.C. — Blue Heron Asset Management has sold Indigo Apartments, a 489-unit multifamily community in Morrisville, for $121.9 million. The firm sold the asset to an undisclosed buyer via its third fund, Blue Heron Real Estate Opportunity Fund III. NorthMarq represented the seller in the transaction.Built in 2005 about eight miles south of Durham, Indigo Apartments offers one- and two-bedroom floorplans with features such as stainless steel appliances, full-size washers and …

American Landmark Buys 328-Unit Palmetto Point Apartments in San Antonio

SAN ANTONIO — Tampa-based multifamily investment firm American Landmark has acquired Palmetto Point Apartments, a 328-unit community in San Antonio’s Medical Center submarket. The site is located across from USAA’s corporate headquarters on the city’s northwest side. Built in 2020, the gated community features one- and two-bedroom units ranging in size from 653 to 1,451 square feet. Residences are furnished with stainless steel appliances, quartz countertops, individual washers and …

Cushman & Wakefield Secures $75M Refinancing for Three Multifamily Communities in Atlanta, Louisville

ATLANTA AND LOUISVILLE, KY. — Cushman & Wakefield has secured a $75 million loan on behalf of Middleburg Communities for the refinancing of a three-property, 1,154-unit apartment portfolio in Atlanta and Louisville. Blake Cohen, Mike Ryan and JP Cordeiro of Cushman & Wakefield secured the two-year loan through Synovus Bank.The portfolio includes Vesta Adams Park, a 298-unit apartment community located at 1991 Delowe Dr. SW in Atlanta. The apartment property offers one-, two- and …

Cadence McShane Completes 242-Unit Broadway Chapter Multifamily Project in Fort Worth

FORT WORTH, TEXAS — General contractor Cadence McShane has completed construction of Broadway Chapter, a 242-unit multifamily project in Fort Worth’s Near Southside District. Developed by CRG Real Estate Solutions and designed by Lamar Johnson Collaborative, the property spans two acres and 320,000 square feet. Units come in studio, one- and two-bedroom formats and include private balconies. The amenity package consists of a pool, dog run, outdoor grilling areas, a fitness center, coffee …

CBRE Negotiates Sale of 184-Unit Multifamily Property in Orlando

ORLANDO, FLA. — CBRE has negotiated the sale of Shoreview at Baldwin Park, a 184-unit apartment complex in Orlando. Michael Regan, Francesco Carriera, Jeff Gray and Chip Wooten of CBRE represented both the buyer, an entity doing business as FP Baldwin Park LLC, and the sellers, NorthEnd Equities and Residential Management Inc., in the transaction. The sales price was not disclosed.Located at 1001 Shoreview Drive, Shoreview at Baldwin Park is a garden-style community featuring a mix of …

Bascom Group Adds to Las Vegas Portfolio with $49.6M Apartment Building Acquisition

LAS VEGAS — The Bascom Group has purchased ReNew at Decatur, a multifamily community in Las Vegas, for $49.6 million, or $229,630 per unit in an off-market transaction.Built in 1988, ReNew at Decatur features 216 apartments with private patios or balconies, with 78 percent of the floorplans two- or three-bedroom layouts. The community features a fitness center, resident clubhouse, business center, pool and barbecue area. Bascom plans to upgrade the property’s unrenovated units and …

Urbana Group, Fringe Capital Partners Acquire Camino Village Multifamily Community in Phoenix for $16M

PHOENIX — A partnership between Arizona-based Urbana Group and Illinois-based Fringe Capital Partners has purchased Camino Village I & II, an apartment property located at 2015 and 2039 W. Union Hills Drive in Phoenix. A private investor from Santa Barbara, Calif., sold the asset for $16 million.The property features 80 apartments with 70 percent as two-bedroom layouts averaging 1,000 square feet. Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke of CBRE represented the …

Aspen Heights Partners Breaks Ground on 96-Unit Multifamily Project Near Penn State University

STATE COLLEGE, PA. — Austin, Texas-based Aspen Heights Partners has broken ground on Aspen West End, a 96-unit multifamily project that will be located within walking distance of Penn State University’s campus in State College. Amenities will include a two-story fitness room, game room and breakout study areas. Residents will also have access to shuttle service to campus and three outdoor courtyards. Completion of the project, which follows the beginning of construction of the nearby Aspen …

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