Wednesday, April 30, 2025
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Multifamily

Bear-Valley-Park-Apts-Denver-CO
AcquisitionsColoradoMultifamilyWestern

MG Properties Buys Bear Valley Park Apartments in Denver for $76M

by Amy Works

DENVER — MG Properties has acquired Bear Valley Park Apartments, a garden-style community in Denver, from Jackson Square Properties for $76 million. Located at 5775 W. Dartmouth Ave., Bear Valley Park Apartments features one- and two-bedroom units with stainless steel appliances, islands and designer finishes. The pet-friendly community offers a heated pool, outdoor fire pit, 24-hour package lockers, private parking lot with available garages, resident lounge, fitness center and spa. Jordan Robbins and Alex Possick of JLL Capital Markets represented the seller in the transaction. Charles Halladay, Rick Salinas, Brandon Smith and Annie Rice of JLL Capital Market arranged acquisition financing through Fannie Mae for MG Properties.

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The-Vickery-Fort-Worth
DevelopmentMultifamilyTexasWalker & Dunlop

Trademark to Develop 321-Unit Multifamily Project in Downtown Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Trademark Property Co. will develop The Vickery, a 321-unit multifamily project that will be located at the corner of Hemphill Street and West Vickery Boulevard in downtown Fort Worth. Designed by GFF and developed in partnership with SCOA Real Estate Partners, The Vickery will consist of 307 apartments, 14 townhomes and a 5,300-square-foot restaurant with a second-story lounge. Residential amenities will include a pool, rooftop lounge, coworking space and two dog parks. First United Bank provided a $61 million construction loan for the project that was arranged by Heather McClure and Jonathan Paine of Walker & Dunlop. Construction is set to begin early next year and to be complete in spring 2026.

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AcquisitionsGeorgiaMultifamilySoutheast

Goldrich Kest Purchases 14-Story Novel Midtown Apartment Tower in Atlanta

by John Nelson

ATLANTA — Southern California-based Goldrich Kest has purchased Novel Midtown, a 14-story apartment high-rise in Midtown Atlanta. The seller, Crescent Communities, delivered the 340-unit property in 2022. The Charlotte-based developer also recently delivered Novel West Midtown in Atlanta. The sales price for Novel Midtown was not disclosed. The property features studio, one-, two- and three-bedroom units, as well as a 3,000-square-foot fitness center, swimming pool, sky deck, outdoor kitchen, private conference rooms and coworking spaces, dog park with a pet spa and a Land of a Thousand Hills Coffee & Social on the ground level.

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Affordable HousingDevelopmentKentuckyMultifamilySeniors HousingSoutheast

Woda Cooper, Housing Services Alliance Open Affordable Seniors Housing Community in Walton, Kentucky

by John Nelson

WALTON, KY. — Affordable housing developer Woda Cooper Cos. Inc. and Housing Services Alliance have opened Haven Crossing, an affordable seniors housing community in Walton, approximately 20 miles south of Cincinnati. Haven Crossing is a three-story, elevator-served building that provides 33 one-bedroom units and 24 two-bedroom units. It is restricted to residents age 55 and over earning 30 percent to 80 percent of the area median income (AMI). Project partners included Kentucky Housing Corp., Boone County, City of Walton, Marble Cliff Capital and First Financial Bank. Primary financing for the $13.2 million property was supported through the allocation of Low-Income Housing Tax Credit (LIHTC) equity by Kentucky Housing Corp. Marble Cliff Capital invested in the tax credits to provide equity financing. First Financial Bank invested in the project via MCC, and provided the construction loan. Cedar Rapids Bank & Trust is providing permanent debt for the project. Other partners on the project included Grimm Architecture, Chadan Engineering Inc. and Woda Construction Inc. Woda Management & Real Estate will handle leasing and management.

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AcquisitionsArkansasSoutheastStudent Housing

Tailwind Group Acquires 670-Bed Student Housing Community Near University of Arkansas

by John Nelson

FAYETTEVILLE, ARK. — The Tailwind Group has acquired Ozark Villas, a 670-bed student housing community located near the University of Arkansas campus in Fayetteville. The 213-unit property was acquired from Fountain Residential Partners for an undisclosed price. Teddy Leatherman of JLL brokered the transaction. Upon closing, the community was rebranded College Town Fayetteville. The new ownership has plans to begin major exterior renovations at the property imminently. Shared amenities at the community include a resort-style swimming pool, clubhouse, billiards, a fitness center, dog park, basketball court, sand volleyball court, collaborative study spaces, private study rooms, an outdoor kitchen and a fire pit.

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AcquisitionsMultifamilyTexas

Matthews Real Estate Arranges Sale of 22-Unit Marsol Apartments in Austin

by Taylor Williams

AUSTIN, TEXAS — California-based brokerage firm Matthews Real Estate Investment Services has arranged the sale of Marsol Apartments, a 22-unit multifamily complex located just northwest of downtown Austin. The three-story building was originally constructed in 1972 and was recently renovated. Richard Waterhouse and Tyler Marshall of Matthews represented the undisclosed seller in the transaction. The buyer was also not disclosed.

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The-Arbella-at-Bramble-Hill-Worcester
DevelopmentLoansMassachusettsMultifamilyNortheastSeniors Housing

United Group Receives $35M Construction Loan for Active Adult Project in Worcester, Massachusetts

by Taylor Williams

WORCESTER, MASS. — The United Group of Cos. Inc. has received a $35 million construction loan for The Arbella at Bramble Hill, a 123-unit active adult project that will be located in the central Massachusetts community of Worcester. The property will span 17 acres and offer one- and two-bedroom apartments across three buildings. The community will also feature an 8,500-square-foot clubhouse. JLL arranged the debt through The Washington Trust Co. on behalf of United Group. Construction is scheduled for an early 2025 completion.

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AcquisitionsMultifamilyNew YorkNortheast

Ariel Property Advisors Negotiates $9.2M Sale of Manhattan Multifamily Building

by Taylor Williams

NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $9.2 million sale of an 81-unit, rent-stabilized multifamily building located at 75-89 Wadsworth Terrace in Manhattan’s Washington Heights area. Victor Sozio, Shimon Shkury, Alexander Taic and Jake Brody of Ariel represented the undisclosed seller in the transaction. The buyer was also not disclosed. The deal traded at a cap rate of 6.38 percent.

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AcquisitionsIllinoisMidwestMultifamily

Interra Realty Brokers $11M Sale of Multifamily Property in Waukegan, Illinois

by Kristin Harlow

WAUKEGAN, ILL. — Interra Realty has brokered the $11 million sale of Westwood Apartments in the Chicago suburb of Waukegan. The 132-unit multifamily property is spread across 11 buildings and is located on Westwood Drive. Originally constructed in 1970, the community was 96 percent leased at the time of sale. Patrick Kennelly, Paul Waterloo and Nathan Zito of Interra represented the local private buyer, which plans to make improvements to the building exteriors, common areas and unit interiors. The team also represented the seller, a local investment group. The transaction marked the largest by dollar amount in Waukegan in the past four years, according to CoStar.

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Azure-Apts-Santa-Maria-CA
AcquisitionsCaliforniaMultifamilyWestern

MBK Rental Living Divests of 318-Unit Azure Apartment Community in Santa Maria, California

by Amy Works

SANTA MARIA, CALIF. — MBK Rental Living has completed the sale of Azure, a multifamily property in the Central Coast city of Santa Monica. Terms of the transaction were not released. Developed in MBK Rental Living and opened in September 2020, Azure features 318 one-, two- and three-bedroom units ranging in size from 406 square feet to 1,211 square feet. The units feature open floor plans with vaulted ceilings, wood-style flooring, wall-controlled ceiling fans, gas ranges, stainless steel appliances, quartz countertops, closets with built-in shelves and covered patios with storage rooms. Community amenities include a modern farmhouse-style clubhouse with an entertainment kitchen; two resort-style swimming pools surrounded by cabanas and a firepit; two spas; traditional and Santa Maria-style barbecue grills; a 24-hour fitness center; futsal sports court; Tesla charging stations; two playgrounds; a dog park; pet spa; and business center. Azure is situated on 14 acres at 703 E. Meehan St. Kevin Green, Joseph Grabiec and Greg Harris of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller in the deal.

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