SEATTLE — Kidder Mathews has arranged the off-market sale of Union Park, an apartment property in Seattle’s First Hill neighborhood. Terms of the transaction were not released. Located at 1310 Minor Ave., Union Park offers 84 apartments. Dylan Simon, Jerrid Anderson and JD Fuller of the Simon | Anderson Multifamily Team at Kidder Mathews represented the undisclosed seller and sourced the undisclosed buyer in the deal.
TUALATIN, ORE. — Next Wave Investors has completed the disposition of River Lofts, an apartment property in Tualatin, to FPA Multifamily for $15.8 million, or $214,189 per unit. Located on the banks of the Tualatin River, 12 miles from Portland, River Lofts offers 74 apartments. Built in 1974, the asset has undergone interior and exterior upgrades. Anthony Palladino, Philip Assouad, Giovanni Napoli, Nick Ruggiero and Ryan Harmon of Institutional Property Advisors (IPA), a division of Marcus & Millichap, and Georgie Christensen-Riley of Marcus & Millichap represented the seller and procured the buyer in the deal. David Tabata of Marcus & Millichap served as broker of record in Oregon.
CHICAGO — Kiser Group has negotiated the $5.7 million sale of a fully occupied apartment building in Chicago’s Edgewater neighborhood. A former condo deconversion, the property features a mix of one-, two- and three-bedroom units and presented a value-add opportunity. All units were equipped with individual/central HVAC systems and varying levels of finishes from renovations completed roughly 20 years ago. Jacob Price and Katie LeGrand of Kiser brokered the transaction. The buyer owns apartments nearby.
WINTER GARDEN, FLA. — A joint venture between Pearlmark and Ashcroft Capital has acquired Birchstone Waterleigh, a 300-unit multifamily community in the Horizon West master-planned community near Winter Garden. Birchstone Residential, Ashcroft’s in-house property management and construction management company, will operate the community. DHI Residential sold the property for an undisclosed price. Built in 2023, Birchstone Waterleigh, formerly known as Ascend Waterleigh Club, offers one-, two- and three-bedroom units ranging from 880 square feet to 1,563 square feet, according to Apartments.com. Amenities at the property include a resort-style, saltwater pool with a poolside pavilion, wet bar and grills; a 24-hour gym with a Peloton room; an entertainment club room with arcade; and a cybercafé with private offices and a conference room with a coffee and beverage station. The property also features an activity lawn with table tennis, a dog park, pet spa and electric vehicle charging stations.
COLLEGE STATION, TEXAS — McNair Collegiate Partners has arranged the sale of The Trails at Wolf Pen, a 1,006-bed student housing property serving students at Texas A&M University in College Station. Built in 1997, the property offers 404 units in one-, two- and four-bedroom configurations. Shared amenities include a fitness center, two pools, study rooms and tennis, basketball and volleyball courts. The buyer, Stonebridge Property Group, plans to upgrade units and shared amenity spaces following the acquisition. Jeyton McNair and Mitch Holt of McNair Collegiate Partners represented the undisclosed seller in the transaction.
HARLINGEN, TEXAS — KeyBank Real Estate Capital has provided a $28 million loan for the refinancing of Valor at Harlingen, a 288-unit multifamily property located in the Rio Grande Valley region of South Texas. The garden-style property was built on 16.4 acres in 2013 and consists of 13 three-story residential buildings, a clubhouse, maintenance/storage buildings and seven parking garages. Patrick McFarland and Benjamin Baxter of KeyBank originated the nonrecourse, five-year loan on behalf of the borrower, Texas-based owner-operator Presidium.
FORT WORTH, TEXAS — The Multifamily Group (TMG), a Dallas-based brokerage firm, has negotiated the sale of Victoria Place, 43-unit apartment complex in southwest Fort Worth that was built in 1968. According to Apartments.com, the property offers one- and two-bedroom units with average sizes of 830 and 1,105 square feet, respectively. The buyer and seller were not disclosed.
MONTEBELLO, N.Y. — A partnership between owner-operator FilBen Group and Dallas-based private equity firm RSF Partners has completed Braemar at Montebello, a $54 million assisted living facility in New York’s Lower Hudson Valley region. The property spans 133,675 square feet and features one- and two-bedroom units with an average size of 500 square feet, as well as an array of entertainment- and wellness-based amenities. H2M Architects + Engineers designed the project, and McAlpine Contracting handled construction. Work on the project began in January 2023.
ENGLEWOOD CLIFFS, N.J. — New Jersey-based owner-operator Garden Communities is underway on construction of Phase I of The Sylvan, a 112-unit multifamily project that will be located across the Hudson River from New York City in Englewood Cliffs. Phase I will exclusively offer three-bedroom units. Preleasing is set to begin this fall. Additional details on the project were not disclosed.
PALM BAY, FLA. — JLL has secured a $48 million loan for the refinancing of Westshore Palm Bay, a 248-unit luxury apartment community located at 2331 Commerce Park Drive NE in Palm Bay, a city on Florida’s Space Coast. Brian Gaswirth, Ted Taylor, Kyle Butler, Aaliyah St. Louis and Noli Muratovic of JLL arranged the floating-rate loan through ACORE Capital LP on behalf of the borrower, Northshore Development. Built in 2023, Westshore Palm Bay features a 24-hour fitness center with on-demand virtual classes, resort-style pool with sun shelves, clubhouse and an 8-acre lake within a nature preserve. The property was 94 percent occupied at the time of financing.
