Multifamily

Franklin Street Brokers $6.9M Sale of Apartment Community in Fort Lauderdale

by Camren Skelton July 27, 2017

FORT LAUDERDALE, FLA. — Franklin Street has arranged the $6.9 million sale of First Street Apartments, a 65-unit multifamily community located on Northwest 1st Avenue in Fort Lauderdale. Hernando Perez, Greg Matus, Dan Dratch, Kameron Djamal and Tony Gannacone of Franklin Street represented both the buyer, City View Colony LLC, and the seller, First Avenue Apartments LLC. Franklin Street’s Evan Seacat and Ryan Cassidy insured the asset for First Avenue Apartments, which acquired the property in 2015 for $3.8 million. City View Colony has plans to upgrade the unit interiors, convert the existing manager’s office into a fitness center and add a media room with computers for tenants.

July 27, 2017

Arizona Multifamily Western

Rivendell Global Real Estate Acquires San Paulo Apartments in Phoenix for $32.5M

by Nellie Day July 27, 2017

PHOENIX — Rivendell Global Real Estate has acquired the 208-unit San Paulo apartment complex in Phoenix for $32.5 million. The complex is located at 14625 S. Mountain Parkway. It was built in 1996. Community features include a swimming pool, 24-hour fitness center and resident clubhouse. CBRE’s Sean Cunningham, Tyler Anderson, Asher Gunter and Matt Pesch represented the seller, PrivatePortfolio Group, in this transaction.

July 27, 2017

Multifamily Texas

AMAC, EBEX Acquire 306-Unit Apartment Community in San Antonio for $37M

by Taylor Williams July 27, 2017

SAN ANTONIO — A joint venture between AMAC Holdings and EBEX Holdings has acquired Crescent at Alamo Heights, a 306-unit apartment community located in the Alamo Heights neighborhood of San Antonio for $37 million. Built in 1993, the property is situated on 14.6 acres and features a mix of one-, two- and three-bedroom units ranging in size from 669 to 1,370 square feet. Amenities include a pool, playground, picnic area and a business center.

July 27, 2017

Illinois Midwest Multifamily

McShane Breaks Ground on 295-Unit Luxury Apartment Complex in Lombard, Illinois

by Kristin Harlow July 27, 2017

LOMBARD, ILL. — Greystar has selected McShane Construction Co. to build Elan Yorktown, a 295-unit luxury apartment complex in the Chicago suburb of Lombard. The four-story property is under construction on a six-acre parcel at 50 Yorktown Shopping Center. The building will feature a mix of studio, one-, two and three-bedroom units. Amenities will include exterior courtyards, a fitness center, golf simulator room, theater room, library, clubroom, pool and grilling stations. ESG Architects is providing the architectural services for the project, slated for completion in May 2019.

July 27, 2017

Loans Mixed-Use Multifamily New York Northeast Office Retail

HFF Arranges $28M in Refinancing for Mixed-Use Building in Brooklyn

by Amy Works July 27, 2017

NEW YORK CITY — HFF has arranged $28 million in refinancing for a mixed-use building located at 110 Fourth Ave. in Brooklyn’s Boerum Hill neighborhood. Scott Aiese of HFF secured the 10-year, fixed-rate, interest-only loan for the undisclosed borrower. The property features 49 residential units in a mix of studio, one- and two-bedroom layouts, and 5,197 square feet of retail and medical office space on the ground level. On-site amenities include a concierge, common room and fitness center. Additionally, most units feature balconies and/or in-unit washers and dryers. Built in 2007, the property was 100 percent leased at the time of financing.

July 27, 2017

Multifamily New York Northeast

Akelius Buys Multifamily Building in Brooklyn for $7.2M

by Amy Works July 27, 2017

NEW YORK CITY — Akelius has acquired a multifamily building located at 185 Prospect Park West in Brooklyn. A private local investor sold the property for $7.2 million, or $725,000 per unit. Built in 1920, the building features 10 apartment units. Michael Stimler of Greysteel represented the buyer and seller in the transaction.

July 27, 2017

Colorado Multifamily Western

CBRE Global Investors Fund Purchases 227-Unit Apartment Community Near Denver

by Nellie Day July 26, 2017

DENVER — A fund advised by CBRE Global Investors has acquired Viridian at the Gardens on Havana near Denver for an undisclosed sum. The 227-unit garden-style community is located at 10901 E. Garden Drive in Aurora. Viridian is two miles from a light rail station that is scheduled to open later this year. It sits adjacent to the 500,000-square-foot Gardens on Havana Shopping Center. The Class A community is nearly 95 percent occupied. ARA represented the seller.

July 26, 2017

Hospitality Multifamily New Jersey Northeast

Korman Communities, Rockefeller Group Open 256-Unit Flexible-Stay Residences in New Jersey

by Amy Works July 26, 2017

FLORHAM PARK, N.J. — Korman Communities and Rockefeller Group have opened AVE Florham Park, a flexible-stay residential community located at 90 Park Ave. in Florham Park. The 256-unit community is designed for extended-stay business travelers and individuals in transition. AVE Florham Park features 65,000 square feet of indoor and outdoor amenity space, including courtyards, a pool, fire pits, 24-hour business center, conference room, media theatre, spa room, a 3,600-square-foot fitness center and a 24-hour resident service team. The property is located within The Green at Florham Park, Rockefeller Group’s 268-acre master-planned development.

July 26, 2017

Multifamily Northeast Pennsylvania

High Real Estate Group Acquires 412-Unit Multifamily Portfolio in Central Pennsylvania

by Amy Works July 26, 2017

LANCASTER, ELIZABETHTOWN AND LEBANON, PA. — High Real Estate Group has purchased a four-property, value-add multifamily portfolio in Central Pennsylvania from Equus Capital Partners for an undisclosed price. The portfolio comprises the 112-unit Greenview Terrace and 85-unit Barrcrest Manor in Lancaster, the 128-unit Village Green in Elizabethtown and the 87-unit Lebanon Court in Lebanon. Mark Thomson, Carl Fiebig, Francis Coyne, Jose Cruz and Matthew Lawton of HFF represented the seller in the transaction. High Real Estate acquired the portfolio free and clear of debt.

July 26, 2017

Multifamily New York Northeast

Ariel Property Advisors Negotiates $15.8M Sale of Two Apartment Buildings in Manhattan

by Amy Works July 26, 2017

NEW YORK CITY — Ariel Property Advisors has arranged the sale of a two-building multifamily portfolio located at 517 W. 180th St. and 570 W. 182nd St. in the Washington Heights neighborhood of Manhattan. A private investor acquired the portfolio for $15.8 million. Totaling 37,305 square feet, the portfolio features 51 residential units in one-, two-, three- and five-bedroom layouts. Thirty-nine of the units are rent stabilized and 12 are free-market apartments. Michael Tortorici, Victor Sozio, Matthew Gillis and Shimon Shkury of Ariel Property Advisors represented the seller, a private investor, and the buyer in the deal.

July 26, 2017

Newer Posts

Older Posts