sales_and_leases

Lloyd Jones Capital Acquires Two Texas Apartment Communities

by Haisten Willis October 20, 2015

HOUSTON AND FORT WORTH, TEXAS — Lloyd Jones Capital has acquired the Carol Oaks and Villa Oaks apartment communities in Fort Worth and Houston, respectively. Both properties are considered value-add opportunities, which the company anticipates improving and rebranding in order to enhance the asset value. The Carol Oaks is a gated community consisting of 224 units on 18 acres. It is now called The Vibe at Landry Way. The Houston property, Villa Oaks, with 212 units of affordable housing, will be rebranded as TownParc at Sherwood and is a townhouse community.

October 20, 2015

China City Construction Buys Oceanfront Development Site in Miami Beach for $38.5M

by John Nelson October 20, 2015

MIAMI BEACH, FLA. — China City Construction Co. has purchased a one-acre, oceanfront development site at 6747 Collins Ave. in Miami Beach from The Peebles Corp. for $38.5 million. The site is zoned for multifamily and was previously approved for 60 residential units or 150 hotel rooms, with a gross building square footage up to 93,600. Robert Taylor and Paul Weimer of Miami-based CBRE Hotels, along with Gerard Yetming of CBRE Multifamily and Irving Padron of Engel & Volkers, represented the seller in the transaction. American Da Tang Group and Borda Commercial Real Estate represented the buyer.

October 20, 2015

California Multifamily Western

Mauna Loa Apartments in Santa Ana Sells for $14.6M

by Nellie Day October 19, 2015

SANTA ANA, CALIF. — An unnamed buyer has purchased the 60-unit Mauna Loa Apartments in Santa Ana for $14.6 million. The community is located at 1311 Washington Ave. It is situated near Westfield MainPlace Mall and the Discovery Cube Orange County science museum. Tyler Leeson of Marcus & Millichap’s Newport Beach office represented the seller, an LLC.

October 19, 2015

Massachusetts Multifamily Northeast

CBRE/New England Brokers Multifamily Sale in Boston

by Jeff Shaw October 19, 2015

BOSTON — The CBRE/New England Multifamily Capital Markets team brokered the sale of West Square, a 255-unit infill apartment community in the South Boston neighborhood. CBRE/NE represented the seller, a joint venture between Lincoln Property Company and an institutional partner, and procured the buyer, 5514 D Street 320 Boston LLC, an affiliate of Akelius US LLC. Lincoln Property Co. will manage the property. The community was completed in April 2014 and has 33 apartments set aside under inclusionary zoning for residents at 70 percent of area media income. Akelius has also acquired the adjacent property 339 D Street, which comprises 24 apartment units.

October 19, 2015

Connecticut Multifamily Northeast

TGM Associates Sells TGM Village in Stamford

by Jeff Shaw October 19, 2015

STAMFORD, CONN. — TGM Associates L.P. has sold the 160-unit apartment project TGM Village at Stamford to Cherry Hill, N.J.-based Silverman Group. Jeffrey Dunne and Gene Pride of CBRE Group Inc. brokered the transaction for the property, which is located in downtown Stamford. TGM purchased Village at Stamford in 2008. Terms of the transaction were not disclosed.

October 19, 2015

Illinois Midwest Multifamily

The Connor Group Acquires 368-Unit Apartment Community in Aurora, Ill.

by Christina Cannon October 19, 2015

AURORA, ILL. — The Connor Group has acquired a 368-unit apartment community in Aurora, approximately 40 miles west of Chicago, from American Realty Advisors. The sales price was undisclosed. The Class A asset, located at 1840 Clubhouse Drive, was 96 percent occupied at the time of sale. Susan Lawson and Debbie Corson represented American Realty Advisors in the transaction.

October 19, 2015

Multifamily North Carolina Southeast

MHA Brokers Sale of Three Apartment Communities in Triangle Area for $62.4M

by John Nelson October 19, 2015

CHARLOTTE, N.C. — Multi Housing Advisors (MHA) has brokered three separate sales of three apartment communities in the Raleigh-Durham area totaling $62.4 million. The transactions include Atlanta-based TriBridge Residential selling The Hamptons at RTP, a 286-unit property in Durham, to Cortland Partners for $34.6 million; Los Angeles-based Robertson Properties Group selling Emerald Forest, a 320-unit property in Durham, to New York-based Somerset Partners for $19.5 million; and New York-based JEM Holdings purchasing Westchester, a 160-unit property in Garner, from Carlisle Residential for $8.3 million. Marc Robinson, Jordan McCarley and Watson Bryant of MHA’s Charlotte office represented the sellers in all three transactions.

October 19, 2015

Illinois Midwest Retail

SVN | Chicago Commercial Brokers $1.5M Sale of Retail Property in Winnetka, Ill.

by Christina Cannon October 19, 2015

WINNETKA, ILL. — SVN | Chicago Commercial has brokered the $1.5 million sale of a 7,800-square-foot retail building in downtown Winnetka, a northern Chicago suburb. Bertha Turner TN4 LLC sold the property, located at 563-571 Lincoln Ave., to Edgewood Real Estate Investment II LLC. Wayne Caplan of SVN | Chicago Commercial represented the seller and was the sole broker in the transaction. The building features six storefronts and includes tenants such as apparel retailers J. McLaughlin and Sara Campbell, a local real estate office and two local antique dealers. One storefront is currently vacant. This transaction is the first time the property has traded hands since its construction nearly 90 years ago.

October 19, 2015

Arizona Multifamily Western

TruAmerica Multifamily Buys Trevi Apartments in Chandler for $47.5M

by Nellie Day October 16, 2015

CHANDLER, ARIZ. — TruAmerica Multifamily has purchased the 290-unit Trevi apartments in Chandler for $47.5 million. The Class A community is located at 635 S. Ellis Street. Trevi was built in 2005. It is currently 97 percent occupied. TruAmerica leveraged the acquisition with $34.2 million in agency debt financing secured through Berkeley Point Capital. Mitch Clarfield originated the loan. This is TruAmerica’s second acquisition in the Greater Phoenix area. The purchase was made in partnership with an institutional investor. The seller was Alliance Residential Company.

October 16, 2015

California Multifamily Student Housing Western

IPA Arranges Sale of USC Student Housing Portfolio for $39.1M

by Nellie Day October 16, 2015

LOS ANGELES — Institutional Property Advisors (IPA) has arranged the sale of The Shrine Collection, a 324-bed, 103-unit student housing community near the University of Southern California (USC), for $39.1 million. The sales price equates to just under $380,000 per unit and approximately $120,700 per bed. Ron Harris, IPA executive vice president of investments, director Paul Darrow and associate director Michael DiSimone advised the seller and procured the buyer, a joint venture between Stuho and Cambridge Capital Advisors. Situated on seven parcels of land totaling more than two acres, the properties are Chez Ronne, The Bungalows, Roma, Pisa, Corsica and Habitat Soozee. All are located one block from USC’s main campus, one block west of Figueroa Street and less than two miles from downtown Los Angeles. The portfolio’s properties feature controlled entry, security services, USC network accessibility, 24-hour on-site laundry facilities and all residents have the use of a fitness center.

October 16, 2015

Newer Posts

Older Posts

Upcoming Events

Aug
18