PLANO — CB Richard Ellis Investors has acquired The Domaine, a 270-unit luxury apartment complex in Plano, for $33.25 million. The Connor Group, an Ohio-based real estate investment firm, sold the property in the third largest sale in its 20-year history. Located at 6400 Windcrest Dr., the seller purchased the community in 2006 for $26.5 million.
LAKEWOOD, WASH. — Marcus & Millichap has presided over the more than $2.22 million trade of the 54-unit Eagles' Lair Apartments, located at 12710 56th Ave. Court SW in Lakewood. The 39,046-square-foot multifamily property consists of 35 one-bedroom/one-bathroom and 19 two-bedroom/one-bathroom units. Marcus & Millichap’s Scott Morasch represented both the REIT buyer and the government-agency seller in the transaction.
BALTIMORE — The 120-unit Harvey Johnson Towers, a Section 8 mutlifamily property located at 1510 West Mosher St. in Baltimore, has sold for $5.4 million. The buyer, New York City-based HJT, was represented by The Firoozabadi Group of Marcus & Millichap.
FORT LAUDERDALE, FLA. — The 16-unit Caravelle North Apartments in Fort Lauderdale has sold for $1.2 million. The seller, a private investor from Palm Beach Shores, Fla., and the buyer, a private investor from Hollywood, Fla., were represented by Joseph Thomas of Marcus & Millichap's Fort Lauderdale office.
NEW YORK CITY — TerraCRG has brokered the sale of a residential development site located at 191-193 Hurson Street in Brooklyn's Greenpoint neighborhood. The two-lot site is approved for the construction of a 10-unit apartment building with parking. A two-family building currently sits on the property. A local developer acquired the property for $1.05 million in an all-cash deal. The construction timetable was not released.
HUMBLE — Bethesda, Md.-based Crossbeam Capital has acquired Woodland Hills Apartments, a 282-unit, 18-month-old garden-style rental community in Humble. The 11.2-acre community was purchased for an undisclosed amount from Houston-based Verde Apartment Communities, which developed the property. Woodland Hills, located at 3918 Atascocita Rd., is the eighth apartment community acquisition that Crossbeam Capital has completed with its operating partner, Houston-based Concierge Management Services.
DALLAS — Transwestern's Dallas multifamily group has brokered the sale of Timmaron Ridge Apartments in Dallas, located at 9850 Whitehurst Dr. Timmaron Ridge is a 196-unit community that was developed in 1980. Mark Freeman and Taylor Snoddy of Transwestern represented the seller, an institutional special servicer based in Florida, as Timmaron Ridge was sold out of receivership. Knightvest Capital purchased the multifamily property with plans to renovate it.
OKLAHOMA CITY, OKLA. — Dallas-based Rosebriar Properties has sold the 216-unit Quail Landing Apartments, located in Oklahoma City, for $15.7 million. The development was completed in 2000 as part of a larger land investment that made up more than 4 million-square-feet for commercial property surrounding Quail Springs Mall. Rosebriar was represented by Bills Hanks of Rosebriar Holdings Corp.
VISTA, CALIF. — The 36-unit Pacific Sun Apartments, located at 951 Taylor St. in Vista, sold for $4.1 million. Chase Commercial Bank provided acquisition funding. Ray Adams of San Diego-based Cassidy Turley BRE Commercial represented the buyer, Judd RR Investments, and the seller, locally-based Kuhio Partnership.
GOODYEAR, ARIZ. — The 145-acre master-planned community Palm Valley Phase IX, located west of the corner of Litchfield and Camelback roads in Goodyear, has sold for $3.9 million. The land is entitled for a 218-lot residential community, 20 industrial lots and 8.75 acres of high-density residential development. The seller, Phoenix-based Southwest Solar Technologies, was represented by Jason Hyams, Dave Headstream and Mike Ratliff of CB Richard Ellis' Phoenix office. The buyer, New York City-based Crown West Realty, a joint venture of New York City-based Petrus Partners Ltd. and Scottsdale, Ariz.-based Voyager Investment Properties, did not utilize outside representation.