REBusinessOnline

FPA Multifamily Buys 192-Unit Hillcroft Village Apartments in Danbury, Connecticut

DANBURY, CONN. — California-based FPA Multifamily has purchased Hillcroft Village, a 192-unit apartment complex in Danbury, about 70 miles north of New York City. The property was built on 10.5 acres in 1971. Units feature an average size of 988 square feet, as well as individual washers and dryers and private balconies/patios. Amenities include a pool, fitness center, playground and a resident clubhouse. Victor Nolletti, Eric Pentore and Wes Klockner of Institutional Property Advisors (IPA), …

JMF Properties Begins Leasing 110-Unit Apartment Complex in Glen Ridge, New Jersey

GLEN RIDGE, N.J. — JMF Properties has begun leasing Clarus Glen Ridge, a 110-unit apartment complex in Glen Ridge, located in Northern New Jersey’s Essex County. The property offers one- and two-bedroom units and amenities such as a fitness center, theater room, parlor with a wet bar, business center, dog park and storage lockers. Rents start at roughly $2,600 per month for a one-bedroom unit. Construction began in May …

Gebroe-Hammer Arranges $21.4M Sale of Jersey City Multifamily Portfolio

JERSEY CITY, N.J. — New Jersey-based brokerage firm Gebroe-Hammer Associates has arranged the $21.4 million sale of a portfolio of five multifamily properties totaling 134 units in Jersey City. Niko Nicolaou of Gebroe-Hammer represented the seller, Coltown Properties, and procured the buyer, West of Hudson Properties, in the transaction. Brad Domenico of Progress Capital arranged an undisclosed amount of acquisition financing on behalf of the new

Gelt Acquires The Oasis Anaheim Apartment Community in California for $146.5M

ANAHEIM, CALIF. — Gelt, a Los Angeles-based, value-add real estate investor, has purchased The Oasis Anaheim, a transit-oriented apartment property in the northeast area of Anaheim. Redhill Realty Investors sold the asset for $146.5 million.Built in 2009 on 5.2 acres, The Oasis Anaheim features 312 apartments spread across two four- and five-story buildings in a mix of loft, townhome, one- and two-bedroom layouts. On-site amenities include a resort-style pool, fitness center/yoga studio, …

Capital Funding Group Provides $262.6M Refinancing for Skilled Nursing Portfolio in Colorado, California, Wyoming

BALTIMORE — Capital Funding Group, a Baltimore-based lender, has provided a $262.6 million term loan to refinance a 29-asset long-term care portfolio.Spanning Colorado, California and Wyoming, the portfolio includes 28 skilled nursing facilities and one joint skilled nursing and assisted living facility, with a total of 3,140 beds. The borrower is a privately owned real estate investment group.Erik Howard and Tim Eberhardt originated the transaction for Capital Funding

HiCap Management Sells Two-Property Multifamily Portfolio in Albuquerque

ALBUQUERQUE, N.M.— HiCap Management has completed the sale of a two-property apartment portfolio in Albuquerque. A private buyer acquired the two assets, totaling 196 units, for an undisclosed price.The portfolio includes the 136-unit Chelsea Village Apartments and the 60-unit Marquee Village Apartments. Chelsea Village Apartments was built in phases between 1964 and 1968 and Marquee Village was built in 1950. Chelsea Village consists of 13 two-story buildings and offers a mix of one-, …

JLL Arranges Sale of 347-Unit Apartment Tower in Baltimore’s Inner Harbor District

BALTIMORE — JLL has arranged the sale of 225 North Calvert, a 347-unit, 17-story apartment tower in the Inner Harbor district of downtown Baltimore. Broadshore Capital Partners, in a joint venture with an undisclosed investment partner, purchased the property for an undisclosed price. Scott Clukies of Broadshore led the firm on the sales transaction. Walter Coker, Brian Crivella and Robert Jenkins of JLL represented the seller, CP Capital US, formerly known as HQ Capital Real Estate.225 …

DLP Capital Acquires 200-Unit Affordable Housing Community in Jonesboro, Arkansas

JONESBORO, ARK. — DLP Capital has acquired Stadium Place, a 200-unit affordable housing property located in Jonesboro. The addition of the community increases the number of DLP Capital-owned apartment homes in the greater Memphis area to 568 units. The sales price and seller were not disclosed. The buyer plans to rebrand the property as DLP Jonesboro.Built in 2000, DLP Jonesboro includes one-, two- and three-bedroom units across 10 buildings. Community amenities include a swimming pool, …

PCCP, Abode to Develop Three Built-to-Rent Residential Communities Near Downtown Raleigh

RALEIGH, N.C. — PCCP LLC, in a joint venture with Abode Communities LLC, plans to develop three build-to-rent (BTR) communities near downtown Raleigh totaling 73 detached homes. The three infill communities will include a mix of single-family homes and townhomes, complete with a variety of neighborhood amenities. The three properties will be located within a half-mile from Raleigh’s central business district.The joint venture closed on its first site, Abode at Hargett, in August of …

Buchanan Street Acquires 294-Unit Apartment Community in Dallas Arts District

DALLAS — California-based investment firm Buchanan Street Partners has acquired 4600 Ross, a 294-unit apartment community located in the Dallas Arts District. Built in 2020, the property’s unit mix consists of 51 studios, 166 one-bedroom units and 72 two-bedroom apartments, as well as five three-bedroom townhomes. Amenities include a pool, fitness center, sky lounge, pet park and a package locker system. The property was 95 percent occupied at the time of sale. The seller and sales price …

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