Tuesday, May 7, 2024

Deal boom

Apartment deals, mergers and acquisitions

Fall Ridge at Delray

Cushman & Wakefield arranges $13.55 million sale of Fall Ridge at Delray

Cushman & Wakefield announced that the commercial real estate services firm has arranged the sale of Fall Ridge at Delray, a 60-unit apartment community located in Delray Beach. The final sale price was $13.55...
The Boulevard

Davlyn Investments acquires third Phoenix apartment community

Davlyn Investments, a prominent California-based, multifamily investment firm, recently closed escrow on the $112,500,000 purchase of The Boulevard, a 294-unit, luxury, multifamily community in Phoenix, Arizona. The property, which will be re-branded “Boulders at...
The Post

PCCP, LLC provides a $75 million loan to Griffis Residential for the acquisition and...

PCCP, LLC has provided a $75 million senior loan to Griffis Residential for the acquisition and repositioning of The Post, a 16-story, 208-unit apartment property located at 888 Western Avenue in downtown Seattle. Situated at...
Forest Manor Apartments

Kairos Investment Management Company acquires 103-unit affordable multifamily property in Glendale, Colorado

Kairos Investment Management Company (KIMC), a firm that focuses on value-based real estate investments with favorable risk/reward characteristics, has acquired Forest Manor Apartments, a 103-unit affordable multifamily property in Glendale, Colorado. “Kairos is constantly looking...
McKinley Park Apartments

McKinley Park Apartments to be Transformed into Affordable Housing for Seniors

The transformation of Canton’s McKinley Park Apartments into an affordable housing community moved another step closer to reality in December, after The Ohio Department of Development awarded the redevelopment $2 million in state historic...
3708-14 N. Sheffield Ave

Interra Realty brokers $7.4 million sale of 26-unit multifamily building in Chicago’s Wrigleyville Neighborhood

Interra Realty, a Chicago-based commercial real estate investment services firm, announced it brokered the off-market sale of 3708-14 N. Sheffield Ave., a 26-unit vintage courtyard building in Chicago’s Wrigleyville neighborhood, steps from Wrigley Field. The...
West Vue

Berkadia arranges $97.5 million sale of brand-new class AA garden style asset in Orlando’s...

Berkadia announces it has arranged the sale of West Vue, a 442-unit, brand-new, luxury garden-style apartment community within Orlando’s sought-after and award-winning MetroWest master-planned community. The property is encumbered by a long-term ground lease,...
Tree Farm Lofts

$54.5 million secured for development of Colorado multihousing community

JLL Capital Markets announced that it secured $54.5 million in construction financing for Tree Farm Lofts, a 196-unit, six-building multihousing community located in Basalt, Colorado. JLL worked on behalf of the borrower, Lang Partners and...
The Perch

Institutional Property Advisors closes luxury Eastside Los Angeles multifamily property sale

Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of The Perch, a mixed-use asset consisting of 59 luxury residences and 2,646 square feet of ground-floor retail on the border...
Lone Oak

Marcus & Millichap brokers newly constructed apartment asset sale in Parker County Texas

Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Lone Oak, a 396-unit multifamily asset in Weatherford, Texas. “Weatherford has seen...
Excelsior Hotel

Berkadia secures $84 million in stretch senior financing for hotel-to-multifamily conversion on Manhattan’s Upper...

Berkadia announces it has secured stretch senior financing for developer Emmut Properties’ acquisition of Excelsior Hotel, a century-old landmark hotel on Manhattan’s Upper West Side. Emmut Properties acquired the 126-room hotel, which has been...
Ellie May

StoryBuilt and IHP Capital Partners form $44 million real estate joint venture

StoryBuilt, an urban residential and commercial community developer, and IHP Capital Partners, one of the nation's most prominent providers of equity financing for residential real estate development, announced a $44 million real estate joint...
Prelude at Paramount

Institutional Property Advisors completes multifamily sale outside of downtown Boise

Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Prelude at Paramount, a 280-unit core multifamily asset located in Meridian, Idaho. “Prelude at Paramount is located just 12-miles from Downtown...
22 North

Institutional Property Advisors completes Austin area apartment asset sale

Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of 22 North, a 240-unit multifamily asset located 20 miles northwest of Austin in Leander, Texas. “Austin’s technology scene is often referred...
City View at the Highlands

Another large multihousing community in suburban Chicago trades to NYC investor

JLL Capital Markets announced that it has closed the sale of City View at the Highlands, a 403-unit, luxury, value-add, mid-rise apartment building located in the Chicago suburb of Lombard, Illinois. JLL represented the sellers, a...
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