Property Type

Markward Group Arranges Sale of 18,086 SF Industrial Facility in Allentown

by David Cohen June 5, 2018

ALLENTOWN, PA. — The Markward Group has arranged the sale of 211 Lloyd Street, an 18,086-square-foot industrial facility located on 2.26 acres in Allentown. The sales price was not disclosed. Chip Miers of Markward Group represented the seller, Kay Louise Krapf, in the transaction. The buyer, Serfass Development and Acquisitions, was represented by Ann Kline of Markward Group. The building has been in use as a truck terminal and service repair garage for Ransome CAT. Prior to the sale, the property was leased to ABLE Equipment Rental Inc. ABLE is a supplier of construction equipment rentals and plans to open the Lloyd Street facility in Allentown as its fifth location in the Northeast.

June 5, 2018

Acquisitions Connecticut Mixed-Use Northeast

Allied Property Group Orchestrates Sale of Mixed-Use Building in Greenwich for $6.5M

by David Cohen June 5, 2018

GREENWICH, CONN. — Allied Property Group has orchestrated the sale of a mixed-use building at 171-173 Greenwich Ave. in Greenwich for $6.5 million. The three-story property consists of a 3,700-square-foot retail storefront leased to Club Monaco and four apartment units. Thomas Torelli of Allied Property Group represented the undisclosed seller in the transaction and Matt Torrance of Cushman & Wakefield represented the buyer, Winter HPG.

June 5, 2018

Advenir-at-Woodbridge-Reserve-Sugar-Land-Texas

Loans Multifamily Texas

Advenir Refinances Two Apartment Properties Totaling 546 Units in Houston Area

by Taylor Williams June 5, 2018

HUMBLE AND SUGAR LAND, TEXAS — Florida-based investment firm Advenir Inc. has refinanced two apartment properties totaling 546 units in the Houston area. The properties include the 258-unit Advenir at Eagle Creek in the northern metro of Humble and the 288-unit Advenir at Woodbridge Reserve in the southwestern metro of Sugar Land. Eric Tupler, Josh Simon and Cortney Cole of HFF secured seven-year, fixed-rate loans with an average interest rate of 4.27 percent for the properties through Freddie Mac.

June 5, 2018

Acquisitions Multifamily Texas

ARA Newmark Brokers Sale of 299-Unit Apartment Community in San Antonio

by Taylor Williams June 5, 2018

SAN ANTONIO — ARA Newmark has brokered the sale of Ridgeline at Rogers Ranch, a newly built, 299-unit multifamily community located in northwest San Antonio. The property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, business center and a resident clubhouse. Pat Jones of ARA Newmark represented the seller, San Antonio-based Embrey Partners, in the transaction. Atlanta-based multifamily investment firm Benimax purchased the property for an undisclosed price.

June 5, 2018

Westmount-at-Three-Fountains-San-Antonio

Acquisitions Multifamily Texas

Westmount Realty Capital Acquires 272-Unit Apartment Community in San Antonio

by Taylor Williams June 5, 2018

SAN ANTONIO — Dallas-based Westmount Realty Capital LLC has acquired Three Fountains, a 272-unit multifamily community located in the Westover Hills area of San Antonio. Built in 1998, the property consists of 120 one-bedroom units, 120 two-bedroom units and 32 three-bedroom units. Westmount will rebrand the property as Westmount at Three Fountains. The company will also invest in capital improvements to the property’s lighting and plumbing systems, unit interiors and communal amenities, which include a pool, fitness center, on-site laundry facilities and a business center.

June 5, 2018

Acquisitions Multifamily Texas

Transcontinental Opens 198-Unit Apartment Property in Metro Dallas

by Taylor Williams June 5, 2018

WYLIE, TEXAS — Transcontinental Realty Investors Inc. and its subsidiary, Adobe Properties, have opened Parc at Wylie, a 198-unit multifamily community in Wylie, a northeastern suburb of Dallas. The property consists of 13 three-story buildings and offers amenities such as a pool with a tanning deck, dog park, playground, fitness center and walking trails. The property, which also offers convenient access to two nearby lakes, was approximately 95 percent leased at its opening.

June 5, 2018

Acquisitions Multifamily Seniors Housing Texas

CPF Acquires 175-Unit Seniors Housing Community in Dallas

by Taylor Williams June 5, 2018

DALLAS — Chicago Pacific Founders (CPF), a private equity firm specializing in healthcare real estate, has acquired Churchill Estates, a 175-unit luxury seniors housing community in Dallas. The property, which will undergo a capital improvement plan, is located in the city’s Lake Highlands area. Amenities include a game and activity room, spa and salon, champagne lounge, library and an arts studio. The seller and sales price were not disclosed.

June 5, 2018

Acquisitions Maryland Multifamily Southeast

Morgan Properties, Core Real Estate Buy Apartment Community Near Baltimore for $50M

by Camren Skelton June 5, 2018

ELLICOTT CITY, MD. — Morgan Properties, in a joint venture with Core Real Estate Partners, has acquired Orchard Meadows in Ellicott City for $50 million. The 240-unit community, located roughly 16 miles west of Baltimore, was constructed in two phases in 1998 and 2012. The new ownership will invest $2 million to upgrade the property. Planned renovations included kitchen upgrades, an enhanced fitness center, new grilling area and fire pit and a refreshed clubhouse, leasing office and business center. In addition, the joint venture will add a putting green, outdoor gaming area, playground, exterior fitness stations, a dog park and package rooms. Orchard Meadows features a mix of one- and two-bedroom apartment units. The transaction marks Morgan Properties’ seventh acquisition in the Mid-Atlantic with Core Real Estate Partners since 2012.

June 5, 2018

Development Georgia Loans Multifamily Southeast

Cushman & Wakefield Secures $37.8M Construction Financing for Multifamily Project on Atlanta’s Upper Westside

by Camren Skelton June 5, 2018

ATLANTA — Cushman & Wakefield has secured $37.8 million in construction financing for the development of Vue at the Quarter, a 271-unit multifamily community that will be located at 2048 Bolton Drive N.W. in Atlanta’s Upper Westside submarket. Mike Ryan, Brian Linnihan, Richard Henry and Blake Cohen of Cushman & Wakefield arranged a $32.8 million senior loan through Ameris Bank and $5 million in preferred equity through RSE Capital Partners on behalf of the project developer, GJ Enterprises Acquisitions. The 359,000-square-foot community will include five four- and five-story buildings. GJ Enterprises expects to wrap up construction on the project in May 2020.

June 5, 2018

Acquisitions Florida Multifamily Southeast

FCP Acquires 264-Unit Apartment Community in Orlando for $23.6M

by Camren Skelton June 5, 2018

ORLANDO, FLA. — Federal Capital Partners (FCP) has acquired Royal Isles, a 264-unit multifamily community in Orlando, for $23.6 million. The community includes a mix of one-, two- and three-bedroom units and features a 24-hour fitness center, swimming pool with sundeck, playground, picnic area with grills and an onsite laundry center. Evan Kristol and Felipe Echarte of Marcus & Millichap’s The Kristol Group arranged the transaction on behalf of the undisclosed seller. Berkadia arranged the assumption of the existing Fannie Mae mortgage.

June 5, 2018

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