Thursday, January 16, 2020

Deal boom

Apartment deals, mergers and acquisitions

Mansfield Multihousing Property

JLL arranges financing for Mansfield, Texas, apartments

JLL Capital Markets announced today that it has arranged acquisition financing for a multihousing community located in the Fort Worth suburb of Mansfield, Texas. JLL worked exclusively on behalf of Hilltop Residential to arrange the...

Pathfinder Partners acquires value-add multifamily community in Phoenix submarket

Pathfinder Partners, a San Diego-based firm specializing in multifamily real estate investments, has announced the $8.4 million acquisition of Park Paloma—a 60-unit apartment community just south of the Lower Arcadia neighborhood at 2930 North...
nVe at Fairfax

Luxury West Hollywood apartment building sold by Institutional Property Advisors for $36 million

Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of nVe at Fairfax, a luxury boutique multifamily building in Los Angeles. The asset sold for $36 million, which equates to...
Arbor Place Apartment Homes

Cushman & Wakefield arranges sale and financing of 206-unit apartment community in Jacksonville, FL

Cushman & Wakefield has arranged the sale of Arbor Place Apartment Homes, a 206-unit multifamily property in Jacksonville. Located in the fast-growing Southside submarket, the asset presents significant value-add opportunity for the new-to-market buyer. Executive...
Sycamore on Main in Brockton

Construction is underway at Sycamore on Main in Brockton as MassHousing closes $4.7 million...

Construction is underway at Sycamore on Main in Brockton, as MassHousing has closed on $4.7 million in financing to an affiliate of NeighborWorks Housing Solutions. The MassHousing financing will allow NeighborWorks Housing Solutions to...
Guardian Arms Apartments

Institutional Property Advisors sells $26.2 million multifamily asset on Hollywood Boulevard in Los Angeles

Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced today the sale of Guardian Arms Apartments, a 101-unit multifamily asset with 9,207 square feet of ground-floor retail between the Hollywood and Los...
Rockvale Apartments

Avison Young completes $7.5 million sale of 34-unit apartment property in Azusa, CA

Avison Young announced today the $7.5 million sale of Rockvale Apartments, a 34-unit, multifamily property located at 333 N. Rockvale Avenue in Azusa, CA (Los Angeles county). Avison Young’s Peter Hauser, Matt Hauser and Masa...
The Pearl on Wilshire

Institutional Property Advisors closes luxury mixed-use asset sale in LA’s Koreatown

Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of the Pearl on Wilshire, a seven-story, 346-unit multifamily property with 7,813 square feet of retail on Wilshire Boulevard in Los Angeles’ Koreatown neighborhood. The complex sold for $170,875,000, which represents $493,858 per apartment unit. “Over the...
7070 Sheridan

Interra Realty brokers $3.5 million multifamily sale in Chicago’s Rogers Park Neighborhood

Interra Realty, a Chicago-based commercial real estate investment services firm, today announced it brokered the sale of 7070 N. Sheridan Road, a 24-unit rental community in Chicago’s Rogers Park neighborhood that overlooks Loyola Park...
Elmwood Park Plaza

Historic Downtown Detroit mixed-use high-rise apartment and penthouse community to be fully redeveloped this...

Detroit-based City Club Apartments, a 100-year-old mixed-use multifamily pioneer, broke ground on the redevelopment of the formerly named Elmwood Park Plaza, an innovative and progressive 18-story apartment community built by Toby and David Hotlzman...
Hanover Cambridge Park

CBRE sells Hanover Cambridge Park to Guardian Life

CBRE announced the sale of Hanover Cambridge Park located at 80 Cambridge Park Drive in Cambridge, Massachusetts, to Guardian Life. CBRE Capital Markets’ multihousing experts Simon Butler and Biria St. John exclusively represented the seller,...
930 North Blvd

Kiser Group brokers 930 North Blvd. in Oak Park for $8.3 million

Kiser Group, Chicago’s leading multifamily brokerage firm, recently brokered 930 North Blvd., a 48-unit, 7-story property in Oak Park, Illinois, for $8,300,000. Kiser Group’s Matt Halper and Marco Cesario represented the buyer Goldman Investments...
Ingram Park Apartments

Franklin Street closes $8.2 million multifamily asset sale in Miami-Dade MSA

Franklin Street has negotiated the sale of Ingram Park Apartments, a 118-unit rental community located at 14255 – 14460 NW 22nd Avenue in Opa-Locka, Fla., approximately 20 minutes northwest of Miami. Hernando Perez, Joe Rubin...

JLL arranges $35.5 million financing for The Jax

JLL Capital Markets announced today that it has arranged $35.5 million in financing for The Jax, a 322-unit multihousing property in Northwest San Antonio. JLL worked on behalf of the borrower, Casoro Group, to secure...

JLL arranges $6 million loan for 80 Terrace Street in Boston

JLL Capital Markets announced today that it has arranged a $6 million construction loan for the development of 80 Terrace Street, a nine-unit, boutique, for-sale condominium building in the Mission Hill neighborhood of Boston. JLL...
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