Multifamily

Blueprint Arranges $19M Sale of 110-Unit Seniors Housing Community in Sonoma County

by Nellie Day April 2, 2018

HEALDSBURG, CALIF. — Blueprint Healthcare Real Estate Advisors has brokered the sale of Healdsburg Senior Living Community, a 110-unit assisted living, memory care and skilled nursing campus in the Sonoma County city of Healdsburg. Sitting on approximately seven acres, the community features 40 assisted living units, 32 memory care beds and 38 skilled nursing beds. A global private real estate investment firm with a large national seniors housing portfolio acquired the property for $19 million, or $173,000 per bed. The seller was not disclosed, though the property is featured on Pacifica Senior Living’s website. Mario Wilson and Christopher Hyldahl of Blueprint led the transaction.

April 2, 2018

California Loans Multifamily Western

Arriba Capital Arranges $5.3M Acquisition Loan for Multifamily Property in Beverly Hills

by Nellie Day April 2, 2018

BEVERLY HILLS, CALIF. — Arriba Capital has arranged a $5.3 million loan for the acquisition of a multifamily property located in Beverly Hills. The borrower is a private equity real estate investment company, which plans to renovate the property. The 16-unit community was 38 percent vacant at the time of acquisition.

April 2, 2018

Colorado Multifamily Western

Nexus Commercial Facilitates $4.5M Sale of Apartment Building in Denver

by Nellie Day April 2, 2018

DENVER — Nexus Commercial Real Estate has arranged the sale of Glenview Apartments, a multifamily property located at 16300 R. Colfax Ave. in Denver. Odgen Park Town Homes sold the property to 16300 Colfax Avenue Holdco LLC for $4.5 million. Situated on 1.8 acres, the 31,096-square-foot building features 48 apartment units in a mix of one- and two-bedroom layouts. Jason Koch of Nexus represented the seller and buyer in the deal.

April 2, 2018

California Multifamily Student Housing Western

Partnership Forms Arrowroot Real Estate, Acquires First Multifamily Asset

by Nellie Day April 2, 2018

LOS ANGELES — A partnership between D & B Capital Partners, Arrowroot Family Office and ARB Investments has formed Arrowroot Real Estate, a new entity which will invest in modernizing and rebranding well located, Class B multifamily and student housing properties. Arrowroot Real Estate is led by Brennen Degner and Adam Barzilay, former executives of MJW Investments, as well as Devin Antin, co-founder of D & B Capital Partners. The team recently closed on its first multifamily acquisition, 11415 Venice Blvd in Los Angeles. Arrowroot targets total acquisitions in excess of $200 million over the next 18 to 24 months.

April 2, 2018

Acquisitions Connecticut Multifamily Northeast

IPA Arranges Sale of 518-Unit Multifamily Portfolio in Connecticut for $62.6M

by David Cohen March 30, 2018

MIDDLETOWN, CONN. — Institutional Property Advisors, a division of Marcus & Millichap, has arranged the sale of a two-property, 518-unit apartment portfolio located in the Westlake District of Middletown for $62.6 million. The portfolio includes Middletown Brooke, a 280-unit apartment community with eight residential buildings, and Middletown Ridge, a 238-unit apartment community with nine residential buildings. The properties were constructed in 1988 and 1989. IPA represented the seller, Fairfield Midtown Ridge LP, and procured the buyer, Hamilton Zanze and Co. Middletown is located 16 miles south of Hartford and 26 miles north of New Haven.

March 30, 2018

Acquisitions Multifamily New York Northeast

CBRE Brokers Sale of 300-Unit Apartment Community in New York for $91M

by David Cohen March 30, 2018

TARRYTOWN, N.Y. — CBRE has brokered the sale of Talleyrand Apartments, a 300-unit multifamily community in Tarrytown. County records listed the sale at $91 million. Jeffrey Dunne, Gene Pride and Eric Apfel of CBRE represented the seller, a REIT, in the transaction. The buyer was an affiliate of The DSF Group. The community, which is located at 1202 Crescent Drive, is 29 miles north of Manhattan and offers access to the city via the Metro North Railroad.

March 30, 2018

Development Multifamily Texas

Marquette Cos. Completes 359-Unit Apartment Tower in Downtown Houston

by Taylor Williams March 30, 2018

HOUSTON — Chicago-based development firm Marquette Cos. has completed Catalyst, a 359-unit apartment tower located one block from Minute Maid Park in downtown Houston. The 28-story building, which is roughly 25 percent preleased, is the first luxury high-rise to be completed in the area in nearly a decade. Amenities at the property, which was designed by Ziegler Cooper Architects, include a 21,500-square-foot pool, 2,200-square-foot fitness center, dog park, conference room a coffee bar. The property also features 7,400 square feet of ground-floor restaurant space, a 2,000-square-foot club on the 26th floor and a bar and lounge on the 28th floor. Floor plans include studio, one-, two- and three-bedroom units ranging in size from roughly 600 to 2,000 square feet. The property will officially open on April 5.

March 30, 2018

Loans Midwest Multifamily South Dakota

Love Funding Provides $24.2M Construction Loan for Multifamily Property in Rapid City, South Dakota

by Kristin Harlow March 30, 2018

RAPID CITY, S.D. — Love Funding has provided a $24.2 million FHA-insured loan for the construction of Moon Meadows Apartments in Rapid City. The 160-unit multifamily property will feature a mix of one-, two- and three-bedroom floor plans within eight garden-style buildings. Climate-controlled hallways will link garages to unit entrances. Consolidated Construction Co. Inc. is building the property. Way Architects PC designed the project and Vertex Property Management will manage the community. Moon Meadows Apartments is part of the Moon Meadows Park development, which will include an office building, hotel, retail space and a new medical office park.

March 30, 2018

Acquisitions Illinois Midwest Multifamily

Kiser Group Brokers $9M Sale of Apartment Building in Chicago’s Uptown Neighborhood

by Kristin Harlow March 30, 2018

CHICAGO — Kiser Group has brokered the $9 million sale of The Maynard in Chicago’s Uptown neighborhood. The 74-unit apartment building is located at 4875 N. Magnolia Ave. Originally built in 1925, the property features primarily micro-unit studios, some as small as 218 square feet. Rick Ofman and Lee Kiser of Kiser Group brokered the transaction. Becovic Management purchased the asset from CLK Properties.

March 30, 2018

Acquisitions Georgia Multifamily Property Type Southeast

Greystone Brown Brokers $58.3M Sale of Apartment Community in Metro Atlanta’s Vinings District

by Camren Skelton March 30, 2018

VININGS, GA. — Greystone Brown Real Estate Advisors has arranged the $58.3 million sale of Stone Ridge at Vinings, a 440-unit apartment community in Vinings, roughly 11 miles north of downtown Atlanta. Barden Brown, Cory Sams, Taylor Brown, Chandler Brown and Bo Brown of Greystone Brown arranged the transaction on behalf of both the seller, Florida-based Ventron Management LLC, and the buyer, New York-based Broadtree Residential. Stone Ridge at Vinings features a fitness center, pool, playground, tennis court and hiking and biking trails. Greystone Brown Real Estate Advisors is a joint venture formed in 2016 between Greystone and Brown Realty Advisors.

March 30, 2018

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