Multifamily

CFH Investment Partners Buys 456-Unit Apartment Complex in Albuquerque

by Nellie Day January 22, 2018

ALBUQUERQUE, N.M. — CFH Investment Partners has purchased the 456-unit Diamond Mesa apartment community in southwest Albuquerque for an undisclosed sum. The community is located at 2300 Diamond Mesa Trail SW. Diamond Mesa was built in 2015. It is situated near one of six Facebook data centers currently under construction just south of Albuquerque. Property amenities include a social lounge with game tables, resort-style pool area, fitness facility, business center and a barbeque grilling area. Each of the one- to three-bedroom units includes nine-foot ceilings, patios and balconies, and full size washers and dryers. Select units include walk-in closets and a separate laundry room. CBRE arranged the transaction.

January 22, 2018

Colorado Multifamily Seniors Housing Western

Greystone Brokers $31.3M Sale of 188-Unit Affordable Community in Denver

by Nellie Day January 22, 2018

DENVER — Greystone’s Real Estate Advisors group has arranged the sale of Juanita Nolasco Apartments, a 188-unit affordable seniors housing community in Denver. Jonathan Rose Cos. acquired the property from a limited liability company for $31.3 million. Greystone’s Aaron Hargrove and Eric Taylor represented the seller. The 13-story Juanita Nolasco Apartments was built in 1972 and rehabilitated in 2008 via 4 percent Low Income Housing Tax Credits.

January 22, 2018

District of Columbia Multifamily Southeast

Gateway, Rise to Deliver 319-Unit Apartment Community in D.C.

by Camren Skelton January 22, 2018

WASHINGTON, D.C. — Gateway Investment Partners and RISE: A Real Estate Co., will soon deliver Trellis House, a 319-unit apartment community located in Washington D.C.’s North Shaw neighborhood. The joint venture broke ground on the property in 2016. The community is designed to meet LEED Platinum-certification, and will feature electric car charging stations, a rooftop hydroponic garden and close proximity to public transportation — three blocks from the U Street/Cardoza Metro Station. Trellis House will offer a mix of studio, one- and two-bedroom units and two-level townhome-style units, ranging from 425 to 1,218 square feet. Community amenities will include a 12,000-square-foot outdoor courtyard, two-level fitness center, pool, subzero test kitchen with video broadcast cooking demonstrations, outdoor fireplaces with grilling stations and an observation deck with downtown and Capitol views. In addition, the community will include 11,500 square feet of ground-floor retail. Preleasing for Trellis House will begin in April, with residents expected to move in by summer.

January 22, 2018

Florida Multifamily Southeast

CBRE Negotiates Sale of Three-Property Multifamily Portfolio in Florida

by Camren Skelton January 22, 2018

INDIAN HARBOUR BEACH AND PALM BAY, FLA. — CBRE has arranged the sale of a three-property multifamily portfolio located in Indian Harbor Beach and Palm Bay. Abacus Capital Group acquired the properties from CFH Group for an undisclosed price. Still Hunter, Chris Smiles, Shelton Granade, Luke Wickham and Justin Basquill of CBRE represented both the buyer and seller in the transaction. The 594-unit portfolio includes two communities in Indian Harbour Beach: The Dunes, located at 201 Harbour City Parkway, and Harbour Pointe Apartments, located at 675 Rosewood Court. In Palm Bay, Abacus acquired The Vinings at Palm Bay, located at 1000 Palm Place Drive. The communities feature 24-hour fitness centers, resort-style pools, poolside kitchens, carports and business centers.

January 22, 2018

Georgia Multifamily Southeast

Cushman & Wakefield Brokers $17.7M Sale of Multifamily Community in East Atlanta

by Camren Skelton January 22, 2018

ATLANTA — Cushman & Wakefield has arranged the $17.7 million sale of Broadway at East Atlanta, a 176-unit apartment community located at 1930 Flat Shoals Road in East Atlanta. Tyler Averitt and Robbie O’Bryan of Cushman & Wakefield arranged the transaction on behalf of the seller, Elite Street Capital. New Jersey-based Liquid Capital acquired the property using a fixed-rate Fannie Mae loan. Constructed in 1967, Broadway at East Atlanta features a fitness center, pool with grilling area, dog park and a playground.

January 22, 2018

Midwest Seniors Housing Wisconsin

Caddis to Develop 104-Unit Senior Living Community in Brookfield, Wisconsin

by Kristin Harlow January 22, 2018

BROOKFIELD, WIS. — Caddis is developing its second Heartis senior living community in Wisconsin in the Milwaukee suburb of Brookfield. Heartis Village Brookfield will feature 104 assisted living and memory care apartments. The 98,660-square-foot community, slated for completion in July 2019, will be located at 16100 W. Greenfield Ave. Amenities will include a media room, fitness center, salon and dining room. Special services will include nurse-supervised staff, a 24-hour emergency call system and housekeeping and laundry services. Pathway to Living will manage the property. Stevens Construction Corp. is the general contractor for the project, while Katus is providing architectural services.

January 22, 2018

Multifamily New York Northeast

Delshah Capital Purchases Apartment Building in Manhattan for $18.9M

by Amy Works January 22, 2018

NEW YORK CITY — Delshah Capital has purchased an apartment building located at 138 Ludlow St. in Manhattan’s Lower East Side. Trikupa Realty sold the six-story property for $18.9 million. The six-story property features 27 apartments in a mix of one-, two- and three-bedroom layouts, and retail space that is occupied by two tenants. The buyer plans to renovate the property, including infrastructure improvements, upgraded kitchen appliances, installation of washers, dryers, wine chillers and flooring, and refurbished bathrooms. Michael DeChester of Cushman & Wakefield represented the buyer and seller in the transaction.

January 22, 2018

Multifamily New Jersey Northeast

AMS Acquisitions Buys 85-Unit Silk Lofts in Bayonne, New Jersey, for $32.1M

by Amy Works January 22, 2018

BAYONNE, N.J. — AMS Acquisitions has purchased Silk Lofts, a multifamily property located at 154 Avenue E in Bayonne, for $32.1 million. The former Maidenform factory was redeveloped into a residential loft building in 2009 by Doug Stern of Stern Capital and Leon Cohen (CSR Group). The five-story building features 85 studio, one- and two-bedroom apartments with modern finishes, a variety of amenities and views of the New York City skyline and Bayonne Bridge. AMS Acquisitions plans to add an additional 125 apartments to the site and construct at least two new buildings on the parking lots that surround the property. Steven Matovski of Redwood Realty Advisors represented the undisclosed seller, while Matovski and Jeremy Wernick, also of Redwood, co-represented the buyer in the deal.

January 22, 2018

Loans Mixed-Use Multifamily New York Northeast Office Retail

Ready Capital Structured Finance Secures $6M Loan for Mixed-Use Property in SoHo

by Amy Works January 22, 2018

NEW YORK CITY — Ready Capital Structured Finance has arranged $6 million in financing for the acquisition, renovation and stabilization of a mixed-use property in SoHo. The financing is a non-recourse senior floating-rate bridge loan. The property features 7,500 square feet of retail, office and multifamily space.

January 22, 2018

Loans Multifamily Seniors Housing Texas

Ziegler Secures $94.7M Bond Refinancing for 310-Unit CCRC in Austin

by Taylor Williams January 19, 2018

AUSTIN, TEXAS — Chicago-based investment bank Ziegler has secured $94.7 million in bond financing for Longhorn Village, a 310-unit continuing care retirement community (CCRC) in Austin. The alumni association of the University of Texas sponsors the nonprofit community, which is situated on 55 acres and features 214 entrance-fee independent living units, 20 assisted living suites, 16 memory support suites and 60 skilled nursing beds. Proceeds from the bonds will advance refund $85.1 million of Longhorn Village’s 2012 bonds, as well as fund $2 million for routine capital expenditures and a debt service reserve fund.

January 19, 2018

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