REBusinessOnline

Intracorp Divests of AmpliFi Apartments in Fullerton, California for $168M

FULLERTON, CALIF. — Intracorp has completed the sale of AmpliFi Apartments, a multifamily property located at 600 W. Commonwealth Ave. in Fullerton. An undisclosed buyer acquired the asset for $168 million.Built in 2019, AmpliFi features 290 apartments in a mix of studio, one-, two- and three-bedroom floor plans. On-site amenities include a pool with private cabanas, outdoor fireplaces with seating areas, outdoor dining, barbecues, ground-floor retail space and a business center with …

Rise48 Equity Sells Villa Serena Apartments in Phoenix to Tides Equities for $32M

PHOENIX — Rise48 Equity has completed the disposition of Villa Serena, a multifamily community located near Interstate 17 in Phoenix. Tides Equities acquired the property for $32 million, or $233,577 per unit.Cliff David and Steve Gebing of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.Constructed in 1982 on five acres, Villa Serena features 137 apartments in a mix of one- and two-bedroom layouts, with …

Avenir Opens 88-Unit Memory Care Community in Los Angeles

LOS ANGELES — Avenir Senior Living has opened Avenir Memory Care Westside, a seniors housing community in Los Angeles’ Westchester neighborhood. The community features 88 memory care units using a specialized program that aligns residents who have similar cognitive abilities.“We call this the cognitive lifestyle,” says Jason Gurash, vice president of sales and marketing for Avenir Senior Living. “Taking it a step further, every neighborhood is intentionally designed to look …

Carroll Acquires Two Multifamily Properties in Atlanta for $175M

ATLANTA — Atlanta-based Carroll has acquired two new multifamily properties in northeast Atlanta called The Artisan and Berkshires at Lenox Park for a combined purchase price of $175 million. Carroll paid $245,000 per unit with a total of 715 units between the two properties, according to the Atlanta Business Chronicle. The seller(s) was not disclosed.Both properties were acquired through Carroll’s institutional investment vehicle, Carroll Multifamily Venture VI LP. The Artisan and …

Casoro Group Sells Five Multifamily Properties Totaling 1,070 Units in Dallas-Fort Worth

AUSTIN, TEXAS — Austin-based investment firm Casoro Group has sold five multifamily properties totaling 1,070 units that are located throughout the Dallas-Fort Worth metroplex. The 216-unit Mariposa Villas and the 332-unit Vistas at Pinnacle Park were both constructed in 2003 and are located in Dallas. The 198-unit Huntington Ridge was built in 2007 in the southern suburb of DeSoto, and the 180-unit River Oaks is located in nearby Wylie and was built in 2002. Rounding out the portfolio is …

Major Food Group, JDS to Develop 259-Unit Mixed-Use Residential Tower in Miami

MIAMI — Major Food Group and New York-based JDS Development Group have plans to develop MAJOR, a mixed-use residential tower located at 888 Brickell Ave. in Miami. Upon completion, MAJOR will be the tallest building in Miami at 1,049 feet, according to the developers.MAJOR will offer 259 for-sale condominiums, as well as a collection of food and beverage amenities, including standalone restaurants and private clubs. No other project plans were disclosed. William Sofield of Studio Sofield …

Berkadia Arranges $42.1M Sale of Multifamily Property in Largo, Florida

LARGO, FLA. — Berkadia has arranged the sale of Mystic Bay Apartments, a 228-unit garden-style multifamily property in Largo. Jason Stanton, Cole Whitaker, David Etchison, Mary Beale, Lauren Gassie, Greg Rainey of Berkadia represented the seller, New York-based Ashcroft Capital, in the transaction. Indiana-based The Sterling Group purchased the property for $42.1 million.Mystic Bay Apartments features one-, two- and three-bedroom floor plans. The units include features such as walk-in …

Cherry & Associates Sells Short-Term Rental Development in Downtown Nashville

NASHVILLE, TENN. — Cherry & Associates has sold a short-term rental condo development in downtown Nashville. The buyer and sales price were not disclosed. Construction on the property started in March 2020 and is nearing completion this month. Brian Merrill and Grant Hammond of Metropolitan Brokers were the brokers for the residential portion and Nathan Frost and Elam Freeman with Ojas Partners were the brokers for the restaurant/retail space. A short-term rental is a furnished property …

Civitas Capital Acquires 312-Unit Rocco Apartments in East Fort Worth

FORT WORTH, TEXAS — Dallas-based global investment management firm Civitas Capital Group has acquired Rocco Apartments, a 312-unit community located on the east side of Fort Worth. Built in 1984, the property offers one- and two-bedroom units that are furnished with stainless steel appliances and faux granite or quartz countertops, with individual washers and dryers and private balconies/patios available in select units. Communal amenities include a pool, fitness center, dog park, business …

EastGroup Properties Breaks Ground on 212,200 SF Industrial Project in Metro Dallas

MCKINNEY, TEXAS — EastGroup Properties has broken ground on Phase I of McKinney 121, a 212,200-square-foot industrial project that will be located on the northern outskirts of Dallas. The site, which offers proximity to State Highway 121, can support an additional 168,800 square feet of new development. Completion of the two-building Phase I is slated for summer 2022. Lee & Associates is leasing the

Content Partners
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Walker & Dunlop

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