Multifamily

TruAmerica Multifamily Buys Estates at Canyon Ridge in San Antonio for $46.7M

by Taylor Williams October 6, 2021

SAN ANTONIO — Los Angeles-based TruAmerica Multifamily has purchased Estates at Canyon Ridge, a 270-unit apartment community located within San Antonio’s Stone Oak master-planned development. The sales price was $46.7 million. The property was built in 2007 and features one-, two- and three-bedroom units with an average size of roughly 1,200 square feet. Amenities include a pool, fitness center and a cybercafé. Ryan Epstein, Matt Pohl and Forrest Bass of Walker & Dunlop represented the undisclosed seller in the transaction. Russell Dey, Trevor Fase and Justin Nelson, also with Walker & Dunlop, arranged acquisition financing on behalf of TruAmerica Multifamily.

October 6, 2021

Acquisitions Multifamily Texas

Greystone Arranges Sale of 136-Unit Multifamily Property in Metro Dallas

by Taylor Williams October 6, 2021

FARMERS BRANCH, TEXAS — Greystone has arranged the sale of Riverside Park, a 136-unit multifamily property located in the northern Dallas suburb of Farmers Branch. The property offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, clubhouse, business center and walking trails. A local family office sold the asset to Dallas-based investment firm SPI Advisory for an undisclosed price. Zach Thomas and Mark Allen of Greystone brokered the deal.

October 6, 2021

Acquisitions Multifamily Northmarq Texas

NorthMarq Brokers Sale of 120-Unit Apartment Complex in Waxahachie, Texas

by Taylor Williams October 6, 2021

WAXAHACHIE, TEXAS — NorthMarq has brokered the sale of Solon Place Apartments, a 120-unit complex in Waxahachie, a southern suburb of Dallas. Amenities include a pool, playground and onsite laundry facilities. VaultCap Partners purchased the property from MacDonald Realty Group for an undisclosed price. Taylor Snoddy, James Roberts, Phillip Wiegand and Eric Stockley of NorthMarq brokered the sale.

October 6, 2021

Development Multifamily New Jersey Northeast

Woodmont Properties Opens 443-Unit Apartment Community in West Windsor, New Jersey

by Taylor Williams October 6, 2021

WEST WINDSOR, N.J. — Developer Woodmont Properties has opened Woodmont Way, a 443-unit apartment community in West Windsor, a northern suburb of Trenton. The property features one-, two- and three-bedroom units that are equipped with private balconies/patios. Residents also have access to private garages and individual storage spaces. Communal amenities include a pool, fitness center, game room, golf simulator, theater room, bark park and access to walking trails. To date, Phase I of Woodmont Way is 100 percent occupied with over 130 leases signed since the launch of leasing earlier this year.

October 6, 2021

Acquisitions Multifamily New Jersey Northeast

Gebroe-Hammer Negotiates $11.7M Sale of Multifamily Portfolio in East Orange, New Jersey

by Taylor Williams October 6, 2021

EAST ORANGE, N.J. — New Jersey-based brokerage firm Gebroe-Hammer Associates has negotiated the $11.7 million sale of a two-property, 88-unit multifamily portfolio in the Northern New Jersey community of East Orange. The garden-style buildings at 255 Prospect St. and 284 Prospect St. total 42 and 46 units, respectively, across a variety of floor plans. David Oropeza and Debbie Pomerantz of Gebroe-Hammer represented the seller, F&C Realty Co. LLC, and procured the buyer, a private investor, in the transaction.

October 6, 2021

Development Georgia Multifamily Southeast

Sentral Completes 409-Unit Multifamily Community at Star Metals Development in Atlanta

by Julia Sanders October 6, 2021

ATLANTA — Sentral has completed Sentral West Midtown at Star Metals in Atlanta’s West Midtown neighborhood. Located at 1050 Howell Mill Road, Sentral West Midtown at Star Metals is a 409-unit community that offers a flexible living model in which residents and guests can live at the property for any period of time from one month to several years. Paces Properties and Allen Morris Co. are co-developers of Star Metals. The property offers studio, one- and two-bedroom floor plans that come either unfurnished or furnished. Community amenities include a curated year-round events calendar, rooftop pool and grilling area, fitness center, dog spa, networking café and various indoor and outdoor coworking spaces. Sentral West Midtown at Star Metals features food and beverage offerings including Prevail Coffee; Savi Provisions, a specialty grocer; Wagamama, a UK- based pan-Asian restaurant chain; and Sweetgreen, the fast-casual salad chain. Starting in 2022, qualifying residents at Sentral West Midtown will be able to use Sentral’s homesharing service, which will allow residents to rent out their apartments with short-term stays with a two-night minimum. Sentral will handle all homesharing logistics, including housekeeping, photography, insurance and 24-hour service. The homesharing program will enable residents to offset 25 percent or …

October 6, 2021

Affordable Housing Development Multifamily

Kittle Opens 135-Unit Workforce Housing Community in Slidell, Louisiana

by Julia Sanders October 6, 2021

SLIDELL, LA. — Indianapolis, Ind.-based Kittle Property Group Inc. has opened The Lofts at Canterbury, a Phase III workforce housing development in Slidell. The property features one-, two- and three-bedroom apartments ranging from 685 square feet to 1,110 square feet. The 135-unit community has a total of 39 one-bedroom, 64 two bedroom and 32 three-bedroom apartment homes. The units feature faux-wood flooring, a washer and dryer in each home, balconies and ceiling fans. Garages are also available for rent to residents. Community amenities include a fitness center, game room, community room, business center and pool. The Lofts at Canterbury is a pet-friendly community. Located at 301 Spartan Drive, Lofts at Canterbury is located about 31.5 miles from New Orleans.

October 6, 2021

Indiana Loans Midwest Multifamily

Columbia Pacific Advisors Provides $66M Bridge Loan for Acquisition of Apartment Community in South Bend

by Kristin Harlow October 6, 2021

SOUTH BEND, IND. — Columbia Pacific Advisors Bridge Lending has provided a $66 million bridge loan to fund the acquisition of Prosper Apartments in South Bend. The 739-unit, garden-style apartment community is located at 3001 E. Jefferson Blvd. The property comprises 28 buildings across 47 acres. Amenities include a theater room, fitness center, indoor pool, billiards room, playground, dog park and community room. H&A Properties was the borrower. The property was 99 percent leased at the time of loan closing. Loan terms were not disclosed.

October 6, 2021

Acquisitions Arizona Multifamily Western

ABI Multifamily Brokers $11M Sale of Cornell Apartments in Phoenix

by Amy Works October 5, 2021

PHOENIX — ABI Multifamily has arranged the sale of Cornell Apartments, a multifamily property in Phoenix. An Arizona-based seller sold the property to buyers based in California and Texas for $11 million, or $216,059 per unit. Built in 1968, Cornell Apartments features 51 residences with 34 three-bedroom/two-bath units, 14 two-bedroom/two-bath units and two one-bedroom/one-bath units. All units offer metered electricity, in-suite washers and dryers, stainless steel appliances, stone countertop, new interior fixtures and ceiling fans and vinyl wood flooring in most units. Community amenities include a swimming pool, barbecue grill, central courtyards, outdoor gathering spaces and covered parking. John Klocek and Patrick Burch of ABI Multifamily represented the seller in the deal.

October 5, 2021

Acquisitions Multifamily Texas

Catalyst Equity Partners Buys 290-Unit Apartment Community in Northwest Houston

by Taylor Williams October 5, 2021

HOUSTON — Dallas-based investment firm Catalyst Equity Partners has purchased The Landings at Steeplechase, a 290-unit apartment community in northwest Houston. According to Apartments.com, the property was built in 1981, offers one-, two- and three-bedroom units ranging in size from 501 to 1,088 square feet and includes amenities such as a pool and a fitness center. The seller and sales price were not disclosed. Catalyst plans to invest about $2.5 million in capital improvements to the property.

October 5, 2021

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