Multifamily

Brixton Capital Acquires 300-Unit Royalton at Sunfield Apartments in Buda, Texas

by Taylor Williams June 2, 2022

BUDA, TEXAS — Southern California-based investment firm Brixton Capital has acquired Royalton at Sunfield, a 300-unit apartment community located in the southern Austin suburb of Buda. Built in 2021, the garden-style property comprises 14 three-story buildings. Amenities include a pool, dog park, office space, community kitchen, entertainment pavilion, tenant lounge and fitness center. Will Balthrope, Jordan Featherston, Kent Myers and Taylor Hill of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller, Dallas-based developer SWBC, in the transaction. Brixton Capital, which plans to implement minor upgrades to unit interiors, was self-represented.

June 2, 2022

Loans Multifamily Texas

Terrydale Capital Arranges $2.9M Refinancing for Multifamily Property in Dallas

by Taylor Williams June 2, 2022

DALLAS — Locally based financial advisory firm Terrydale Capital has arranged a $2.9 million loan for the refinancing of an undisclosed multifamily property located in the Dallas Central Business District. Brian Gramlich of Terrydale Capital arranged the loan through an agency lender on behalf of the undisclosed borrower. The loan carries an interest rate that is fixed at 3.16 percent for a five years, followed by 15 years of floating-rate financing with one year of interest-only payments.

June 2, 2022

Acquisitions Affordable Housing Florida Multifamily Southeast

Greysteel Arranges Sale of 144-Unit Parkside Gardens Affordable Housing Property in Ocala, Florida

by Amy Works June 2, 2022

OCALA, FLA. — Greysteel has brokered the sale of Parkside Gardens, a Section 8 affordable multifamily community in Ocala. An affiliate of Boston-based JE Properties acquired the asset from Christiansburg, Va.-based Community Housing Partners for an undisclosed price. Built in 1970, Parkside Gardens features 144 apartments. The buyer plans to rehabilitate the property to improve the physical asset and the quality of life for residents. Fletcher Hultman of Greysteel represented the seller and procured the buyer in the transaction.

June 2, 2022

Acquisitions Multifamily Northeast Pennsylvania Student Housing

Rittenhouse Realty Brokers $23.5M Sale of Student Housing Community in Philadelphia

by Taylor Williams June 2, 2022

PHILADELPHIA — Rittenhouse Realty Advisors, a member of GREA, has brokered the $23.5 million sale of Diamond Green, a 350-bed student housing community located near Temple University in Philadelphia. Orens Brothers Real Estate developed the 92-unit property using modular construction. The community features six retail spaces on the ground floor and a 28-stall parking garage. Apex Student Living, a joint venture between Alexandra Capital and Axela Group, acquired the property.

June 2, 2022

Acquisitions Massachusetts Multifamily Northeast Seniors Housing

Blueprint Negotiates Sale of 86-Unit Senior Living Campus in Brockton, Massachusetts

by Taylor Williams June 2, 2022

BROCKTON, MASS. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of Connemara Senior Living, an 86-unit independent living, assisted living and memory care community located in the southern Boston suburb of Brockton. The community was originally built in 1990. Elevation Financial Group acquired the property and plans to convert it to an affordable seniors housing complex. The seller and price were not disclosed.

June 2, 2022

Acquisitions Multifamily Southeast Tennessee

Conor Group Sells Elliston 23 Apartment Property in Nashville for $162M

by Amy Works June 1, 2022

NASHVILLE, TENN. — Dayton, Ohio-based The Conor Group has completed the disposition of Elliston 23, a multifamily community located at 2312 Elliston Place in Nashville’s West End submarket. San Diego-based Sunroad Enterprises acquired the asset for $162 million. Brett Carr and Kevin Geiger of CBRE represented the seller in the transaction, and Nate Sittema of CBRE’s Debt & Structured Financing Group arranged acquisition financing for the buyer. Elliston 23 features 331 apartments in a mix of studio, one- and two-bedroom floorplans averaging 844 square feet. Units offer in-suite washers/dryers, granite countertops and stainless steel appliances. Community amenities include a 24-four fitness center, year-round heated pool and sundeck area, 24-hour conference room, controlled access parking structure and a courtyard with gas grilling stations. Additionally, Elliston 23 features more than 15,000 square feet of ground-floor retail space, including multiple restaurants, a cycling studio, beauty salons and a spa.

June 1, 2022

Acquisitions Maryland Multifamily North Carolina Seniors Housing Southeast Virginia

Foundry Commercial Buys 24-Property Spring Arbor Senior Living Portfolio in Mid-Atlantic

by Amy Works June 1, 2022

ORLANDO — Foundry Commercial, in partnership with an investment fund managed by Morgan Stanley Real Estate Investing, has purchased the Spring Arbor Senior Living collection of 24 assisted living and memory care communities across the Mid-Atlantic. As part of the transaction, Foundry Commercial acquired the current operator, which will continue to manage the properties post-closing. The portfolio contains 1,424 units throughout Maryland, North Carolina and Virginia, with capacity for more than 1,800 residents. The Spring Arbor platform will continue operations under the Spring Arbor Senior Living brand. Capital Funding arranged financing for the transaction. Terms of the acquisition were not released.

June 1, 2022

Acquisitions Georgia Multifamily Southeast

Fogelman Properties, Thackeray Acquire 111-Unit Multifamily Community in Carrollton, Georgia

by Amy Works June 1, 2022

CARROLLTON, GA. — A joint venture partnership between Memphis, Tenn.-based Fogelman Properties and Thackeray has purchased a 111-unit apartment property in Carrollton for an undisclosed price. The partnership has rebranded the community, formerly known as Renew at Carrollton, as Venue at Carrollton. Built in 1974, Venue at Carrollton features one-, two- and three-bedroom apartments ranging from 900 square feet to 1,200 square feet. At the time of sale, the property was 96 percent occupied. The partnership plans to renovate all of the unit interiors, pool, clubhouse and amenity areas.

June 1, 2022

Trailhead-at-Chisholm-Trail-Ranch-Fort-Worth

Development Multifamily Texas

Titan Development, Aberg Property Break Ground on $63M Multifamily Project in Fort Worth

by Taylor Williams June 1, 2022

FORT WORTH, TEXAS — A partnership between Titan Development and Dallas-based investment firm Aberg Property Co. has broken ground on The Trailhead at Chisholm Trail Ranch, a $63 million multifamily project in Fort Worth. The 284-unit development will be situated within the 625-acre Chisholm Trail Ranch master-planned community. Units will be spread across seven buildings and will be available in studio, one-, two- and three-bedroom formats. Amenities will include a pool, dog park and a pickleball court. HEDK Architects is designing the project, and Links Construction LLC is the general contractor. Completion is slated for the first quarter of 2025.

June 1, 2022

Acquisitions Multifamily Texas

Marcus & Millichap Brokers $56M Sale of Three Houston Multifamily Properties

by Taylor Williams June 1, 2022

HOUSTON — Marcus & Millichap has brokered the $56 million sale of three Houston multifamily properties. Ridgepoint Apartments totals 168 units, was built in 1980 and sold for $21.3 million. Green Tree Place comprises 196 units, was constructed in 1983 and traded for $22.6 million. Pine Lake Village consists of 96 units, was delivered in 1983 and fetched a price of $12.1 million. Matthew Peters and Matthew Roth of Marcus & Millichap brokered the deal. The buyer and seller were not disclosed.

June 1, 2022

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