Multifamily

Essex Brokers Sale of Apartment Building in Chicago for $24.5M

by Kristin Harlow December 10, 2018

CHICAGO — Essex Realty Group Inc. has brokered the sale of The Northland Apartments in Chicago’s Old Town neighborhood for $24.5 million. The luxury apartment building comprises 60 units and one restaurant, Two Lights Seafood & Oyster. Amenities include a dog run and rooftop deck. Monthly rents start at $1,700. Jim Darrow and Jordan Gottlieb of Essex represented the seller, local developer JAB Real Estate. Kate Verde of Essex represented the out-of-state buyer who was completing a 1031 tax-deferred exchange.

December 10, 2018

Acquisitions Multifamily North Carolina Southeast

Hudson Capital Properties Acquires Apartment Community in Raleigh-Durham Area for $55M

by Alex Tostado December 7, 2018

CARY, N.C. — Hudson Capital Properties has acquired Cornerstone, a 302-unit apartment community in Cary, for $55 million. Hudson Capital plans to renovate all 302 studio- and townhome-style units and improve the property’s amenity offerings. Cornerstone is located about 17 miles west of Raleigh and about 16 miles south of Durham. The seller was undisclosed.

December 7, 2018

Acquisitions Multifamily North Carolina Southeast

Artesia Real Estate Sells Apartment Complex in Metro Raleigh for $19.6M

by Alex Tostado December 7, 2018

GARNER, N.C. — Artesia Real Estate has sold Greenbrier, a 223-unit apartment complex in Garner, to EBEX Holdings and FriedLam Partners for $19.6 million. Greenbrier, located about six miles south of Raleigh, offers studio, one- and two-bedroom floor plans. Amenities include a pool, playground and extra storage. Watson Bryant, Paul Marley and Brooks Colquitt of Cushman & Wakefield represented the seller.

December 7, 2018

Acquisitions Multifamily North Carolina Southeast Student Housing

FourPoint Brokers Sale of 328-Bed Student Housing Community Near Wake Forest University

by Alex Tostado December 7, 2018

WINSTON-SALEM, N.C. — FourPoint Student Housing Investments has arranged the sale of Deacon Place, a 328-bed student housing community located near Wake Forest University in Winston-Salem. The property opened in 2017 and offers suite- and townhome-style units. Community amenities include a resort-style swimming pool, fitness center, study lounge and a putting green. Chris Epp, Chris Bancroft, Meredith Wolff and Craig Miller of FourPoint arranged the sale on behalf of the seller, Signet Real Estate Group. The buyer and terms of the transaction were not disclosed.

December 7, 2018

Development Multifamily Texas

Leon Capital to Develop 364-Unit Apartment Community in Lewisville, Texas

by Taylor Williams December 7, 2018

LEWISVILLE, TEXAS — Dallas-based Leon Capital Group will develop Lakeyard District, a 364-unit multifamily community that will be located in the northern Dallas metro of Lewisville. Situated on 15.2 acres, the Class A property will offer one-, two- and three-bedroom units and amenities such as a pool, outdoor grilling area, fitness center, dog park and TV lounges. LG Wade is the general contractor for the project and BGO Architects is handling design. Preleasing is expected to begin in August. The first units are slated for a November 2019 delivery.

December 7, 2018

Development Multifamily New York Northeast

Leviathan Capital Secures $20M Construction Loan for Multifamily Development in Westchester, New York

by David Cohen December 7, 2018

WESTCHESTER, N.Y. — Leviathan Capital has secured a $20 million construction loan for the Grand, a transit-oriented multifamily community in Westchester. The 56,000-square-foot project will consist of 15 townhomes and nine penthouse units. The project is slated to be completed in 2021. Leviathan secured the non recourse loan with a completion and carry guaranty to the borrowers, a group that includes NBA basketball player Luol Deng. The lender was undisclosed.

December 7, 2018

Acquisitions Multifamily Texas

Greysteel Arranges Sale of 54-Unit Apartment Community in Fort Worth

by Taylor Williams December 7, 2018

FORT WORTH, TEXAS — Greysteel has arranged the sale of Ridglea Square Apartments, a 54-unit multifamily community in Fort Worth. The property was built in 1960 and is located near Texas Christian University, the Fort Worth Botanical Gardens and Fort Worth Zoo. Doug Banerjee, Boyan Radic, Andrew Mueller, Andrew Hanson, Scott Simon, Jack Stone and Moises Maldonado of Greysteel represented the seller and procured the buyer in the transaction. Both parties requested anonymity.

December 7, 2018

Acquisitions California Multifamily Western

HFF Negotiates $41M Sale of Four-Property Multifamily Portfolio in Sonoma County

by Amy Works December 7, 2018

ROHNERT PARK, CALIF. — HFF has arranged the sale of a four-property multifamily portfolio in Rohnert Park, a community in Sonoma County. A Colorado-based private firm acquired the portfolio from a private investor for $41 million. The assets are Atherton, a 40-unit community at 181 Avram Ave.; Brewster Ames, a 27-unit property at 7300 Adrian Drive; Tivoli Gardens, a 29-unit complex located at 7380 Adrian Drive; and Lancaster Arms, a 105-unit property at 8288 Lancaster Drive. The properties have an average occupancy greater than 97 percent and provide direct access to Highway 101 and the Cotati and Rohnert Park SMART stations. Scott Bales and Peter Yorck of HFF represented the seller and procured the buyer in the deal.

December 7, 2018

Acquisitions California Multifamily Student Housing Western

CBRE Arranges Sale of 658-Bed Community Near University of California, Riverside

by Amy Works December 7, 2018

RIVERSIDE, CALIF. — CBRE has arranged the sale of Sterling Highlander, a 658-bed student housing community located near the University of California, Riverside. The property comprises four buildings and a clubhouse offering studio, two-, three- and four-bedroom units. Shared amenities include a swimming pool, fitness center, tanning dome, gourmet coffee bar, basketball court, private study rooms, a computer center, game room and courtyards with barbecue areas. Seattle-based Horizon Realty Advisors purchased the asset from Houston-based The Dinerstein Companies for an undisclosed price. Jaclyn Fitts, William Vonderfecht, Casey Schaefer and Cray Carlson of CBRE brokered the transaction. Ben Roelke and Ian Walker, also of CBRE, secured long-term financing on behalf of the buyer. The 10-year, fixed-rate loan was provided through CBRE’s Fannie Mae DUS program.

December 7, 2018

Acquisitions Florida Multifamily Southeast

Praedium Group Acquires Apartment Community in Jacksonville for $46.7M

by Alex Tostado December 6, 2018

JACKSONVILLE, FLA. — The Praedium Group has purchased The Point at Town Center, an apartment community in Jacksonville comprising eight three-story buildings offering one- and two-bedroom floor plans. The Praedium Group bought the property from Block One Ventures for $46.7 million, according to Jacksonville Business Journal. Block One delivered the property earlier this year. Amenities at The Point include a dog park with wash station, yoga lawn, pool and package concierge.

December 6, 2018

Newer Posts

Older Posts