Thursday, October 31, 2024

Deal boom

Apartment deals, mergers and acquisitions

Canopy Creek

Cushman & Wakefield arranges $37.75 million sale of Canopy Creek multifamily property in Jacksonville

Cushman & Wakefield announced that the commercial real estate services firm has arranged the sale of Canopy Creek, a 288-unit multifamily community located at 11291 Harts Rd. The final transaction price was $37.75 million,...
Amber Commons

SKS, MRK acquire 198-unit Gaithersburg, Maryland apartment community for $51.5 million

Newly launched SKS Realty Partners of Rockville, MD has joined with MRK Partners of Los Angeles, CA to acquire Amber Commons, a 198-unit garden apartment community in Gaithersburg, Maryland, for $51.5 million. Over the...
Portola at Grovers Park

Institutional Property Advisors brokers multifamily asset sale in Northeast Phoenix

Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Portola at Grovers Park, a 141-unit multifamily asset in Phoenix, Arizona. The $36.6 million sales price equates to $259,574 per...
The Alora

Berkadia arranges sale of two multifamily properties in Houston, Texas

Berkadia announces it has arranged the sale of two workforce multifamily properties in a Qualified Opportunity Zone (QOZ) in Houston, Texas. Managing Directors Joey Rippel, Chris Young and Jeffrey Skipworth, Director Kyle Whitney, and...
The Millennium

UIP, Churchill Living acquire 300-unit apartment tower across from Amazon HQ2

An affiliate of The UIP Companies, Inc. (UIP) and an affiliate of Churchill Living (CRE) have acquired The Millennium, a 300-unit apartment community directly across Metropolitan Park from Amazon’s new HQ2. The 19-story tower...
Oaks St. Clair

JLL arranges $318.45 million financing for six-property multihousing portfolio

JLL’s Capital Markets group announced that it secured a $318.45 million acquisition loan for a six-property, 1,494-unit multihousing portfolio located across Maryland, Virginia and Alabama. JLL represented the borrower, Carter Multifamily, to secure the floating-rate,...
Roslindale House

MassHousing closes on $13.2 million for the refinancing, renovation and extension of affordability of...

MassHousing has closed on $13.2 million in affordable housing financing to Roslindale Senior Housing Corporation, an affiliate of Rogerson Communities, for the refinancing, renovation and extension of affordability for at least 26 years for...
Woodrow Apartments

Record sale of multihousing community in North Dakota closes for $19 million

JLL Capital Markets announced that it has closed the $19 million sale of Woodrow Apartments, a 97-unit apartment complex located in Fargo, North Dakota. JLL marketed the property on behalf of local Fargo-based seller, Kilbourne...
Volta on Pine

Gelt, Inc. acquires Volta on Pine, a newly developed 271-unit apartment property in downtown...

Gelt, Inc. is pleased to announce it has acquired Volta on Pine for $156 million. The 271-unit, Class A apartment community is located at 635 Pine Avenue in downtown Long Beach, CA. “Volta on Pine...
Vista Brooklyn

Capital Square 1031 acquires luxury, mixed-use, Class A multifamily community in fast-growing submarket of...

Capital Square 1031, a leading sponsor of Delaware statutory trust (DST) offerings for Section 1031 exchange and other accredited investors, announced the acquisition of a 10-story, luxury, mixed-use, Class A multifamily community in Jacksonville,...
Broadway Towers

Gebroe-Hammer’s Debbie Pomerantz orchestrates $22.75 million sale of 118-unit Paterson, NJ hi-rise

In Paterson, which continues to evolve from its industrial roots into a dynamic urban-core municipality, Gebroe-Hammer Associates Senior Vice President Debbie Pomerantz has arranged the $22.75M sale of a 118-unit multifamily hi-rise in the...
Summer Place

Cushman & Wakefield arranges $19.2 million sale of two apartment communities to Safe Harbor...

Cushman & Wakefield announced that the commercial real estate services firm has arranged the $19.2 million sale of Summer Place and Summertree, two apartment communities in Mobile that total 304 units. Andrew Brown and Parker...
The Mahalo Isles

Franklin Street arranges sale of Fort Lauderdale apartment property for $340K per unit

Franklin Street has arranged the sale of a 20-unit, waterfront multifamily property in Fort Lauderdale’s Harbordale submarket for $6.8 million. The pricing—considered top of market for a 1970s era property—equates to $340,000 per unit...
Vermella at Garwood Station

$80 million in refinancing secured for pre-stabilized multihousing property

JLL Capital Markets announced that it has arranged $80 million in pre-stabilized permanent financing for Vermella at Garwood Station, a newly built, 296-unit, transit-oriented, luxury apartment building located in Garwood, New Jersey. JLL worked on...
Radius at Shadow Creek

Berkadia arranges contribution and finance of 1,115-unit multifamily portfolio in Texas and Florida

Berkadia has arranged the contribution and finance of the Southstar Sunbelt Multifamily Portfolio, a four-property portfolio consisting of 1,115 apartment units in Texas and Florida. Senior Managing Directors Chris Curry and Todd Marix, along...
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