sale1

D&S Development Divests of Multifamily Tower in Midtown Sacramento for $57.1M

by Amy Works March 18, 2022

SACRAMENTO, CALIF. — Sacramento-based D&S Development has sold an eight-story multifamily building located at 1430 Q St. in Sacramento to San Francisco-based Soma Capital for $57.1 million, or $761,333 per unit. Built in 2020, the 95,461-square-foot property features 75 apartments and 8,744 square feet of ground-floor retail space. At the time of sale, the asset was 99 percent occupied. The building features one studio, 29 one-bedroom, 43 two-bedroom and two three-bedroom units with washers/dryers, central heat/air, upscale design and construction, floor-to-ceiling windows, large closets and private patios/balconies in select units. Community amenities include a rooftop terrace, fitness center, yoga room, courtyard with outdoor seating, garage parking, electric vehicle charging station, bike storage and pet spa. Jason Parr, Scott MacDonald, John Hansen, Michael Bissada and Sydney Ladrech of Cushman & Wakefield’s Multifamily Advisory Group in Northern California represented the seller in the transaction.

March 18, 2022

Acquisitions Multifamily Texas

RangeWater Real Estate Acquires 306-Unit Legacy Heights Apartments in San Antonio

by Taylor Williams March 18, 2022

SAN ANTONIO — Atlanta-based RangeWater Real Estate has acquired Legacy Heights, a 306-unit apartment community located in San Antonio’s Alma Heights neighborhood. The garden-style property was built in 2009. According to Apartments.com, the property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, playground, picnic areas and a clubhouse. RangeWater plans to implement a value-add program. The seller was not disclosed.

March 18, 2022

Acquisitions Multifamily New Jersey Northeast

JLL Negotiates $49.6M Sale of Apartment Community in Bayonne, New Jersey

by Taylor Williams March 18, 2022

BAYONNE, N.J. — JLL has negotiated the $49.6 million sale of 19 East, a 138-unit apartment community in the Northern New Jersey community of Bayonne. Built in 2018, the property offers studio, one- and two-bedroom units with stainless steel appliances, quartz countertops and individual washers and dryers. Amenities include a fitness center, game room and multiple business centers and terraces. Jose Cruz, Michael Oliver, J.B. Bruno, Steve Simonelli, Kevin O’Hearn and Austin Pierce of JLL represented the seller, a partnership between Ingerman Group and Verde Capital, in the transaction. Steven Klein, Matthew Pizzolato, Gerard Quinn and Jimmy Cochran of JLL arranged $35 million in fixed-rate acquisition financing through Kearny Bank on behalf of the borrower, locally based private equity firm KABR Group.

March 18, 2022

Acquisitions Multifamily Texas

ShainRealty Capital Buys LBJ Station Apartments in Dallas for $51M

by Taylor Williams March 17, 2022

DALLAS — Los Angeles-based investment firm ShainRealty Capital has purchased LBJ Station, a 249-unit apartment community in the Northwood Heights area of Dallas, for $51 million. The property was built in 2017. Units average 767 square feet and feature one- and two-bedroom floor plans. Amenities include a pool with a sundeck, fitness center with yoga and Pilates studios, coffee bar, clubhouse, two dog parks and a package handling system. Chris Deuillet of CBRE brokered the sale. Alpha Barnes Real Estate sold the property, and Rialto Capital provided $42 million in acquisition financing. ShainRealty Capital plans to invest $1.8 million in renovations and rebrand the property as Infinity on the Point.

March 17, 2022

Acquisitions California Retail Western

Hollywood Holdings Acquires The Gershwin Lofts Retail Property for $30.4M

by Amy Works March 17, 2022

LOS ANGELES — Hollywood Holdings, a Los Angeles-based private family office, has purchased The Gershwin Lofts Retail @ Hollywood, an urban retail center in Los Angeles. An undisclosed seller sold the property for $30.4 million. Located at 5501-5521 Hollywood Blvd. and 1719-1723 N. Western Ave., the two-building property features 42,916 square feet of retail space. One building was remodeled in 2015 and the other was built in 2015. At the time of sale, Marshalls, Petco and Farmer Boys fully occupied the property. Patrick Wade and Alex Kozakov of CBRE represented the seller in the deal.

March 17, 2022

Acquisitions District of Columbia Multifamily Southeast

Avanath Capital Management Acquires 2M Street Apartments in D.C. for $103.5M

by Julia Sanders March 17, 2022

WASHINGTON, D.C. — Avanath Capital Management LLC has acquired 2M Street Apartments, a 315-unit multifamily community in Washington, D.C., for $103.5 million. The seller was not disclosed. Built in 2014, 2M Street is an apartment community that offers studio, one- and two-bedroom floorplans. Unit features include fully equipped kitchens, balconies, breakfast nooks, granite countertops and washers and dryers in-unit. Community amenities include a basketball court, onsite maintenance, media center, movie theater, pool and a fitness center. The apartment community was designed to meet LEED Gold standards. Located at 2 M St. NE, the property is situated close to the Capitol Building and is 1.6 miles from downtown.

March 17, 2022

Acquisitions Midwest Retail Wisconsin

Colliers Arranges $4.3M Sale of Retail Center in Metro Milwaukee

by Kristin Harlow March 17, 2022

WEST ALLIS, WIS. — Colliers has arranged the $4.3 million sale of a 14,079-square-foot retail center in the Milwaukee suburb of West Allis. The recently built property sits at the corner of South 108th Street and West Oklahoma Avenue. Some of the tenants at the fully leased center include HuHot, Tropical Smoothie, Elements Massage and AT&T. Adam Connor, Josh Minkin and Heather Dorfler of the Colliers Wisconsin investment services team represented the seller, a Milwaukee-based private developer. The private buyer is also based in Wisconsin.

March 17, 2022

Acquisitions North Carolina Retail Southeast

Irgang Group Acquires 196,462 SF Shopping Center in Metro Charlotte

by Julia Sanders March 16, 2022

MONROE, N.C. — Nyack, N.Y-based Irgang Group has acquired Poplin Place, a 196,462-square-foot regional shopping center in Monroe, about 21.3 miles south of Charlotte. Ben Bruner of the Bruner Group represented Irgang Group in the transaction. Thomas Kolarczyk, Danny Finkle and Eric Williams of JLL Capital Markets represented the seller, Big V Property Group. The sales price was not disclosed. Built in 2005, Poplin Place is fully occupied by an anchor tenant lineup that includes T.J. Maxx, Ross Dress for Less, PetSmart, Burlington, Big Lots and pOpshelf. Poplin Place’s other tenants include Boot Barn, Rack Room Shoes, Kay Jewelers and Claire’s. Additionally, the center’s former Dress Barn space was divided to accommodate Bath & Body Works and Spectrum. Located on 30.2 acres at 2901 W US Highway 74, Poplin Place is located 28 miles from Charlotte Douglas International Airport and 28 miles from the University of North Carolina at Charlotte. Target shadow-anchors the shopping center.

March 16, 2022

Acquisitions Multifamily Texas

Lynd Group Sells Suburban Houston Apartment Community for $61.3M

by Taylor Williams March 16, 2022

HUMBLE, TEXAS — San Antonio-based multifamily investment firm The Lynd Group has sold Paramount at Kingwood, a 372-unit apartment community located on the northern outskirts of Houston. Massachusetts-based Colony Hills Capital purchased the property for $61.3 million. Built in 2000, Paramount at Kingwood features one-, two- and three- bedroom units and amenities such as a clubhouse, business center, pool and a fitness center. Lynd acquired the property in June 2021 for $44.5 million and implemented approximately $2 million in capital improvements.

March 16, 2022

Acquisitions Multifamily Northeast Pennsylvania

OneFive Capital Acquires Modular Housing Community in Philadelphia for $88M

by Taylor Williams March 16, 2022

PHILADELPHIA — Locally based investment firm OneFive Capital has acquired Next LVL, a 281-unit modular housing community in Philadelphia’s University City neighborhood, for $88 million. The seven-story building includes 7,391 square feet of commercial space and 54 underground parking spots. Ken Wellar, Douglas Sitt, Mark Duszak and Corey Lonberger of Rittenhouse Realty Advisors represented the seller and developer, Philadelphia-based Alterra Property Group, in the transaction. The Rittenhouse team also procured OneFive Capital, which plans to rebrand the community as SOLO on Chestnut, as the buyer. ACORE Capital provided acquisition financing.

March 16, 2022

Newer Posts

Older Posts