Multifamily

Champion Real Estate Plans 516-Bed Student Housing Development Near University of Washington

by Amy Works July 13, 2022

SEATTLE — Champion Real Estate Co. has acquired 0.33 acres of land at 700 NE 45th St. near the University of Washington campus in Seattle for the development of a 516-bed student housing community. Named Victory at the U, the community will offer fully furnished units alongside shared amenities including study and fitness centers, recreation space and a rooftop deck offering views of Lake Union. Dylan Simon of Kidder Matthews represented Champion and the undisclosed seller of the development site, which Champion acquired for $7.3 million.

July 13, 2022

Acquisitions Multifamily New Jersey Northeast

Kislak Negotiates $8.4M Sale of Three Multifamily Properties in North Arlington, New Jersey

by Taylor Williams July 13, 2022

NORTH ARLINGTON, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $8.4 million sale of three multifamily properties totaling 43 units in North Arlington, located in Bergen County. All structures were originally built more than 100 years ago and include four office spaces and three retail units. Scott Davidovic, Michael Kossak and Andrew Scheinerman of Kislak brokered the deals. The sellers were family partnerships that sold the assets to a single buyer, with all parties involved requesting anonymity.

July 13, 2022

Acquisitions Multifamily New York Northeast

Ariel Property Advisors Arranges $5.2M Sale of Two Brooklyn Multifamily Buildings

by Taylor Williams July 13, 2022

NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has arranged the $5.2 million sale of two multifamily buildings totaling 37 units in Brooklyn’s Sunset Park neighborhood. The rent-stabilized buildings offer a mix of one-, two- and three-bedroom units. Victor Sozio, Stephen Vorvolakos, Sean Kelly and Benjamin Vago of Ariel Property Advisors brokered the sale. The buyer and seller were not disclosed.

July 13, 2022

Acquisitions Multifamily North Carolina Southeast

Blaze Capital Purchases 240-Unit Fieldstone Apartments in Mebane, North Carolina

by John Nelson July 13, 2022

MEBANE, N.C. — Blaze Capital Partners, a multifamily investment firm based in Charleston, has purchased Fieldstone Apartments, a 240-unit, garden-style community in Mebane. This deal marks the first in the Triangle market for the investment firm. The seller and sales price were not disclosed. Blaze Capital plans to invest $2.5 million in property improvements at Fieldstone, including select unit interior enhancements and upgrades to landscaping and community amenities. Fieldstone offers one-, two- and three-bedroom residences with granite countertops, stainless steel appliances and outdoor patios and balconies. Community amenities include a 24-hour fitness center, resort-style pool and sundeck, coffee bar, dog park and a playground.

July 13, 2022

Hospitality Loans Multifamily New York Northeast Top Stories Walker & Dunlop

Walker & Dunlop Arranges $754M in Financing for Aman New York Luxury Residences

by Kristin Harlow July 13, 2022

NEW YORK CITY — Walker & Dunlop Inc. has arranged $754 million in financing for Aman New York, a luxury hotel and condo development in Midtown Manhattan. Aman New York occupies the top 20 floors of the 100-year-old Crown Building at the corner of 57th Street and Fifth Avenue, across the street from Trump Tower. OKO Group was the developer. The 95,000-square-foot residential portion includes 22 units, while the 117,000-square-foot hotel section contains 83 guest rooms and suites. The rooms are among New York’s largest, and the hotel is the only one in New York to offer working fireplaces in each room. The lower floors of the building remain retail space. The hotel portion is scheduled to open on Tuesday, Aug. 2. Reservations will be available beginning Monday, July 25. The development is Aman’s first U.S. urban residence project and provides special features for owners such as private entrances, plus access to three dining venues, a jazz club, wine room and 25,000-square-foot Aman Spa. Nearly all of the condos are pre-sold, with one of the units selling for $55 million, marking one of the priciest residential transactions in New York so far this year. Originally built in 1921, the Crown …

July 13, 2022

Florida Loans Multifamily Southeast

JLL Provides $76.7M Freddie Mac Loan for Apartment Property in West Tampa

by John Nelson July 12, 2022

TAMPA, FLA. — JLL has provided a $76.7 million Freddie Mac loan for the refinancing of Hamilton Point on Egypt Lake, a 638-unit apartment community located at 6900 Concord Drive in west Tampa. Elliott Throne and Kenny Cutler of JLL originated the 10-year, floating-rate loan on behalf of the undisclosed borrower. Situated near several public beaches and Hyde Park Village, Hamilton Point on Egypt Lake features one-, two- and three-bedroom units that average 858 square feet in size. Amenities include two swimming pools, a lakefront sand volleyball court, clubhouse that can be reserved for events, fitness center, two tennis courts, reserved covered parking, a children’s playground and an onsite laundry facility.

July 12, 2022

Acquisitions Multifamily North Carolina Southeast

Magma Equities, Prudent Growth Buy Metro Charlotte Apartment Community for $17.8M

by John Nelson July 12, 2022

LINCOLNTON, N.C. — A joint venture between Magma Equities and Prudent Growth Partners has purchased The Oaks Apartment Homes, a 111-unit multifamily community located in the Charlotte suburb of Lincolnton. The duo purchased the property from the undisclosed seller in an off-market transaction for $17.8 million. Built in 2002, The Oaks comprises one-, two- and three-bedroom apartments located on an 11.7-acre site. Community amenities include a fitness center, basketball court, grilling area, playground and a dog park. The community was 97 percent occupied at the time of sale.

July 12, 2022

Acquisitions Multifamily Texas

Berkadia Brokers Sale of 372-Unit Life at Spring Estates Apartments in Houston

by Taylor Williams July 12, 2022

HOUSTON — Berkadia has brokered the sale of The Life at Spring Estates, a 372-unit apartment community in Houston’s North View neighborhood. The Life at Spring Estates features one-, two- and three-bedroom units ranging from 1,017 to 1,332 square feet. Amenities include a pool, fitness center, business center, clubhouse, bark park, picnic areas and parcel lockers. Chris Young, Joey Rippel, Kyle Whitney, Jeffrey Skipworth, Todd Marix and Chris Curry of Berkadia represented the seller, New York City-based Olive Tree Holdings, in the transaction. The buyer, Nashville-based Inman Equities, purchased the asset for an undisclosed price.

July 12, 2022

Acquisitions Multifamily Texas

Fogelman Properties Acquires 201-Unit Moorings Apartments in Metro Houston

by Taylor Williams July 12, 2022

LEAGUE CITY, TEXAS — Memphis-based investment firm Fogelman Properties has acquired The Moorings, a 201-unit apartment complex in League City, a southeastern suburb of Houston. The Moorings, which was 95 percent occupied at the time of sale, offers recently upgraded units in one- and two-bedroom floor plans. Amenities include a pool, fitness center, game room, outdoor lounge areas and Amazon package lockers. The seller and sales price were not disclosed.

July 12, 2022

Loans Multifamily Northmarq Oklahoma Texas

Northmarq Arranges $9.2M Acquisition Loan for Multifamily Property in Moore, Oklahoma

by Taylor Williams July 12, 2022

MOORE, OKLA. — Northmarq has arranged a $9.2 million bridge loan for the acquisition of Mansions South Apartments, a 146-unit multifamily property in Moore, a southern suburb of Oklahoma City. Built in 1972, the property comprises 12 two-story buildings that house one-, two- and three-bedroom units. Amenities include a pool, fitness center, clubhouse, volleyball and basketball courts and a playground. Bob Harrington of Northmarq arranged the loan, which features two years of interest-only payments. The borrower and direct lender were not disclosed.

July 12, 2022

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