Multifamily

Cushman & Wakefield Brokers $27.5M Sale of Seniors Housing Community in St. Augustine

by Camren Skelton October 27, 2017

ST. AUGUSTINE, FLA. — Cushman & Wakefield has arranged the $27.5 million sale of Glenmoor, a 223-unit seniors housing community in St. Augustine. Allen McMurty, Paul Carr, David Kliewer and Megan Fetter of Cushman & Wakefield represented the seller, Life Care St. John’s Inc., an affiliate of Life Care Pastoral Services Inc., in the disposition. Orlando-based Westminster Communities of Florida acquired the asset and will rename the property Westminster of St. Augustine. Constructed in 2001, the community is located at 235 Towerview Drive in St. Augustine’s World Golf Village. Westminster St. Augustine includes a mix of cottage homes, independent living apartments, assisted living units and skilled nursing units. Community amenities include a clubhouse, heated outdoor lap pool, putting green, bocce court, pub and a fitness center. In addition, residents can enjoy benefits at World Golf Village, including access to two golf courses, a swimming pool, fitness center and social areas.

October 27, 2017

Midwest Multifamily Wisconsin

CBRE Brokers Sale of 144-Unit Apartment Property in Milwaukee

by Kristin Harlow October 27, 2017

MILWAUKEE — CBRE has arranged the sale of Sunset Ridge in Milwaukee for an undisclosed price. The 144-unit apartment property is located at 8183 N. 107th St. Constructed between 1981 and 1992, the property features a mix of one- and two-bedroom units across seven buildings. The property was 98 percent occupied at the time of sale. Patrick Gallagher, Benjamin Schmitt, Peter Langhoff and Max Schultz of CBRE represented the seller, Mandel Group. Weidner Apartment Homes purchased the property.

October 27, 2017

California Multifamily Western

JB Matteson Acquires 130-Unit Tralee Village Apartments in Dublin, California

by Nellie Day October 26, 2017

DUBLIN, CALIF. — JB Matteson has purchased the 130-unit Tralee Village Apartments in Dublin for an undisclosed sum. The community is located at 6599 Dublin Blvd. in the 680 Corridor. Tralee Village was built in 2011 in the East Bay submarket. It offers a range of units including studios, three-bedrooms, lofts and townhomes. Each residence features nine-foot ceilings, granite kitchen countertops, stainless-steel appliances, full-sized washers and dryers, dual-pane windows and patios with balconies. Shared community amenities include a fitness center, large pool, business center, secured underground parking with elevator access and open green space. Tralee Village Apartments is less than a mile from the Pleasanton and Dublin BART stations, as well as interstates 580 and 680.

October 26, 2017

Colorado Multifamily Student Housing Western

ARA Newmark Brokers Sale of 151-Bed Student Housing Community in Colorado Springs

by Nellie Day October 26, 2017

COLORADO SPRINGS, COLO. — ARA Newmark has arranged the sale of the Lookout on Cragmor, a 151-bed community located near the University of Colorado-Colorado Springs. Newsome Development sold the Lookout on Cragmor to Student Quarters for an undisclosed price. Ryan Lang, Brandon Buell and Trent Houchin of ARA Newmark represented the seller.

October 26, 2017

Delaware Multifamily Northeast

Aulder Capital Acquires 414-Unit Multifamily Community in Newark, Delaware, for $44.5M

by Amy Works October 26, 2017

NEWARK, DEL. — Aulder Capital has purchased Foxwood Apartments, a 414-unit value-added multifamily property located at 15 Fox Hall in Newark. Fairfield English Village LLC, an affiliate of Fairfield Residential, sold the property for $44.5 million. Foxwood Apartments comprises 31 three- and four-story residential buildings completed in the 1970s. At the time of sale, the property was 96 percent leased. The community features a mix of one-, two- and three-bedroom floor plans averaging 869 square feet. Community amenities include a resort-style pool with sundeck, playground, fitness center, barbecues, picnic areas and landscaped grounds. Mark Thomson, Carl Fiebig, Francis Coyne and Jose Cruz of HFF, along with Robert Stella of Financial & Consulting Services, represented the seller in the transaction. Additionally, James Conley of HFF arranged a $34.3 million acquisition loan for the buyer. The seven-year loan features a fixed-rate with four years of interest-only payments at 75 percent loan-to-value. The loan was provided through Freddie Mac’s Capital Markets Execution Program.

October 26, 2017

Massachusetts Multifamily Northeast

NAI Hunneman Arranges $8M Sale of Multifamily Complex in Belmont, Massachusetts

by Amy Works October 26, 2017

BELMONT, MASS. — NAI Hunneman has brokered the sale of a multifamily community located at 61-63 Moraine St. in Belmont. CMS Moraine sold the property to an undisclosed buyer for $8 million. Constructed in 1970, the community features 24 apartments in a mix of one- and two-bedroom units. Carl Christie and Dan McGee of NAI Hunneman represented the seller and procured the buyer in the deal.

October 26, 2017

Multifamily Texas

ARA Newmark Arranges Sale of 230-Unit Apartment Community in Dallas

by Taylor Williams October 26, 2017

DALLAS — ARA Newmark has arranged the sale of Las Terrazas Apartments, a 230-unit multifamily community located at 14018 Brookgreen Drive in Dallas. Built in 1968, the garden-style property offers amenities such as a pool, playground, laundry facility and resident clubhouse. Kevin O’Boyle, Matt Wideman and Jakob Andersen of ARA Newmark brokered the sale. The buyer, seller and sales price were not disclosed.

October 26, 2017

Georgia Multifamily Southeast

Berkadia Arranges $27.9M Sale of Three-Property Multifamily Portfolio in Jacksonville

by Camren Skelton October 26, 2017

JACKSONVILLE, FLA. — Berkadia has arranged the $27.9 million sale of three apartment communities in Jacksonville. Tal Frydman, Greg Rainey and Cole Whitaker of Berkadia represented the seller, Nova Eagle, in the transaction. Infinity Acquisitions LLC acquired the assets. The portfolio includes: Reserve at Water’s Inlet, a 205-unit community located at 6100 Arlington Expressway; Magnolia I, a 276-unit community located at 2045 Jammes Road; and Magnolia II, a 112-unit community located at 2401 Jammes Road. Constructed in 1970, Reserve at Water’s Inlet features one- and two-bedroom apartment units. Community amenities include laundry facilities, a fitness center, business center and a pool. Magnolia I, constructed in 1965, includes one- to three-bedroom units and features barbecue/picnic areas, a clubhouse, on-site laundry facility and a swimming pool. Constructed in 1973, Magnolia II offers one- and two-bedroom units and features laundry facilities, 24-hour security camera monitoring, a swimming pool and a playground.

October 26, 2017

Georgia Multifamily Southeast

Starlight Buys Newly Built, 330-Unit Multifamily Community in Metro Atlanta

by Camren Skelton October 26, 2017

DULUTH, GA. — Starlight U.S. Multifamily has acquired The Heights at Sugarloaf, a 330-unit apartment community in Duluth, roughly 30 miles northeast of Atlanta. The sales price was not disclosed. Constructed this year by The Worthing Cos., The Heights at Sugarloaf is situated within the Sugarloaf Market development, a 30-acre mixed-use project. Upon completion, Sugarloaf Market will feature 80,000 square feet of commercial space including a national grocery retail anchor tenant and a future seniors housing community. The Heights at Sugarloaf includes five three- and four-story buildings. Community amenities include a fitness center, business center, package concierge system, resort-style swimming pool, gas grilling stations and a courtyard with park benches and a dog park.

October 26, 2017

Multifamily South Carolina Southeast

Federal Capital Partners Acquires Apartment Community Near Charleston for $16.4M

by Camren Skelton October 26, 2017

SUMMERVILLE, S.C. — Federal Capital Partners (FCP) has acquired The Gates at Summerville, a 232-unit apartment community in Summerville, roughly 25 miles northwest of Charleston. Elliot Calhoun and Andrew Braden of NAI Charleston arranged the transaction on behalf of FCP. Andrew Batkins of Avison Young represented the seller, Somerset South Carolina LLC. The Gates at Summerville includes one- to three-bedroom apartment units and features a fitness center, tennis court, playground, swimming pool and an outdoor grilling area.

October 26, 2017

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