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CA Student Living Acquires Two Student Housing Communities in Georgia, Florida Totaling 972 Beds

ATHENS, GA. AND BOCA RATON, FLA. — CA Student Living has acquired two student housing communities in Georgia and Florida for an undisclosed price. The acquisitions include Ikon at Athens, a 374-bed property located near the University of Georgia campus in Athens, and University Park, a 598-bed community located near Florida Atlantic University in Boca Raton. Ikon at Athens offers two-, three- and four-bedroom units with bed-to-bath parity. Communal amenities include a pool, outdoor spa, …

Acquisitions, Florida, Georgia, Multifamily, Southeast, Student Housing

McShane to Build 138-Unit Seniors Housing Property Near Nashville for Avenida Partners

HENDERSONVILLE, TENN. — Avenida Partners has selected McShane Construction Co. to build Avenida Hendersonville, a 138-unit active adult community in the Nashville suburb of Hendersonville. The three-story building will be positioned on a five-acre site. The community will offer 6,000 square feet of amenities. Completion of Avenida Hendersonville is slated for May 2022. This will be Newport Beach, Calif-based Avenida’s third active adult community in Tennessee and seventh overall in five …

Development, Multifamily, Seniors Housing, Southeast, Tennessee

Essex Brokers $21.6M Sale of Apartment Property in Suburban Chicago

HANOVER PARK, ILL. — Essex Realty Group Inc. has brokered the $21.6 million sale of Pebblewood Court Apartments in Hanover Park, a northwest suburb of Chicago. The 220-unit property is comprised of 11 buildings. Each building features 20 units along with storage lockers and a laundry room. Doug Imber, Kate Varde, Jaimie Steinher and Dan Shepherd of Essex represented the seller, a regional investment group. Brian Kochendorfer and Brian Karmowski of Essex represented the buyer, a local …

Acquisitions, Illinois, Midwest, Multifamily

Interra Realty Arranges Sales of Two Chicago-Area Multifamily Buildings for $14.1M

CHICAGO — Interra Realty has arranged the sales of two Chicago-area multifamily buildings for a total of $14.1 million. Craig Martin and Brian DiBasilio of Interra represented the buyers and sellers in both transactions. The duo arranged the $9 million sale of Vine Place Apartments in Park Ridge. The newly constructed property, located at 400 Talcott Road, features 22 units and one commercial space that is leased to STEM Studio, a daycare and preschool. Vine Place LLC sold the asset to DAG …

Acquisitions, Illinois, Midwest, Multifamily

Sherman Residential Acquires 299-Unit Axis Kessler Park Apartments in West Dallas

DALLAS — Sherman Residential has acquired Axis Kessler Park Apartments, a 299-unit multifamily community in West Dallas. Units at the property, which was formerly known as Lincoln Kessler Park, feature quartz countertops, custom cabinetry, individual washers and dryers and private balconies or yards in select units. Amenities include a pool, exercise center, pet park, business center, putting green, outdoor lounge and a complimentary virtual fitness membership. The seller was not

Acquisitions, Multifamily, Texas

JLL Negotiates Sale of 300-Unit Workforce Housing Community in Metro Houston

PASADENA, TEXAS — JLL has negotiated the sale of a 300-unit workforce housing community located in the eastern Houston suburb of Pasadena. The garden-style property is located near Beltway 8 and Port Houston. Chris Young, Joey Rippel and Kyle Whitney of JLL represented the privately held seller, Chicago-based investment firm 29th Street Capital, in the deal. The buyer and sales price were not

Acquisitions, Multifamily, Texas

Langdon Street Capital Buys 225-Unit Broadstone Crossing Apartments in Austin

AUSTIN, TEXAS — Los Angeles-based investment firm Langdon Street Capital has purchase Broadstone Crossing, a 225-unit apartment community in North Austin. The property was built in 2006 and offers amenities such as a pool, dog park and a fitness center. Sean Sorrell, Joe Dowdle and Ryan McBride of JLL represented the undisclosed seller in the transaction. The sales price was not

Acquisitions, Multifamily, Texas

Colliers Provides Fannie Mae Acquisition Financing for 160-Unit Multifamily Property in Denton

DENTON, TEXAS — Colliers Mortgage has provided an undisclosed amount of Fannie Mae acquisition financing for The Loop Apartments, a 160-unit multifamily property located in the North Texas city of Denton. The property was built in 1969 and consists of 12 two-story residential buildings, a leasing office and two maintenance buildings. Colliers Mortgage originated the 12-year loan through a partnership with Old Capital Lending on behalf of the borrower, a local entity doing business as 517 Loop …

Loans, Multifamily, Texas

TMG Negotiates $49.8M Sale of Portico Villas Apartment Community in Fullerton, California

FULLERTON, CALIF. — The Mogharebi Group (TMG) has arranged the sale of Portico Villas, an apartment property located at 140 West Hills Ave. in Fullerton. A Southern California-based investment group sold the asset to a Southern California-based private investment group for $49.8 million.Built in 1987, Portico Villas features 128 one- and two-bedroom apartments spread across nine two-story buildings, totaling 114,656 rentable square feet. Situated on 3.5 acres, the community features a …

Acquisitions, California, Multifamily, Western

Colliers Mortgage Arranges $33.1M Refinancing for Three-Property Multifamily Portfolio in Cottonwood, Arizona

COTTONWOOD, ARIZ. — The Orange County, Calif, office of Colliers Mortgage, part of Colliers International, has closed two separate Fannie Mae loans totaling $33.1 million for the refinancing of a three-property apartment portfolio in Cottonwood.Totaling 340 units and constructed between 1985 and 1999, the portfolio includes Mountain View Villa Apartments, Rio Verde Apartments and Sagewood Apartments.The loans utilized Green Rewards and both carry 10-year terms and 30-year amortization …

Arizona, Loans, Multifamily, Western
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