Thursday, March 28, 2024

Deal boom

Apartment deals, mergers and acquisitions

Villatree Apartments

$28.4 million in financing secured for Arizona multihousing community

JLL Capital Markets announced that it has arranged the $28.4 million financing for Villatree Apartments, a 150-unit, garden-style multihousing community in Tempe, Arizona. JLL represented the borrower, Epic Investment Services, to secure the five-year, floating-rate...
The Mark Parsippany

$82.5 million sale of New Jersey multihousing community

JLL Capital Markets announced that it has closed the $82.5 million sale of The Mark Parsippany, a 212-unit, four-story, Class A, luxury apartment community in Parsippany, New Jersey. JLL represented the seller, an affiliate of...
917 6th Street

Stepp Commercial completes $5.5 million sale of 11-unit apartment asset in Santa Monica, California

Stepp Commercial, a leading multifamily brokerage firm in the Los Angeles market, has completed the $5.5 million sale of an 11-unit apartment property located at 917 6th Street in Santa Monica, Calif. The property,...
1835 N Flint Avenue

Parkview Financial originates $19 million construction loan for 134-unit multifamily project with a ground...

Parkview Financial announced it has provided a $19 million leasehold construction loan to Ethos Development to build a seven-story, 134-unit multifamily project located at 1835 N Flint Avenue, Portland, Oregon. Ethos purchased the 0.36-acre site...
1026 Third Ave

Mixed-use Lenox Hill portfolio sells for $33.75 million

JLL Capital Markets announced that it has closed the $33.75 million trade of a three-building, mixed-use multihousing and commercial portfolio in Manhattan’s Lenox Hill neighborhood. Located at 1026 Third Ave. and 1020-1024 Third Ave., the...
Bell Fair Oaks

Sale of multihousing community in Northern Virginia closes

JLL Capital Markets announced that it has closed the sale of Bell Fair Oaks, a 246-unit, value-add multihousing community in Fairfax, Virginia. JLL marketed the property on behalf of the seller and procured the buyer...
Skywater at Town Lake

Mesa West Capital funds $108 million loan for acquisition of Phoenix, Arizona multifamily development

Mesa West Capital has provided KB Investment and Development Company with $108 million in first mortgage debt for its acquisition a 328-unit multifamily property in Phoenix, Arizona. The five-year, floating rate loan is secured by...
85 Cleaveland

$94.3 million financing arranged for San Francisco-area multihousing development

JLL Capital Markets announced that it has arranged $94.3 million in construction financing for a 189-unit, four-story, Class A multihousing development located in downtown Pleasant Hill, California. JLL worked on behalf of the borrower, Gemdale...
Encore Narcoossee

Berkadia secures $16.39 million in equity for encore enterprises to develop Orlando apartments

Berkadia announces it has sourced a capital partner for Dallas-based Encore Multifamily, a division of Encore Enterprises, to develop its second apartment community in Orlando. The “Encore Narcoossee” community will be a three-story, 249-unit...
The Monroe

Cushman & Wakefield arranges $91 million sale of The Monroe

Cushman & Wakefield announced that the commercial real estate services firm has arranged the sale of The Monroe, a 217-unit multifamily property in the Brookwood neighborhood of Atlanta. The final sale price was $91 million,...
Westchase Forest

Berkadia arranges sale of luxury apartment community in Houston, Texas

Berkadia announces it has arranged the sale of Westchase Forest, a 400-unit luxury apartment community in Houston, Texas. Managing Directors Chris Young and Joey Rippel, Director Kyle Whitney, Managing Director Jeffrey Skipworth, and Senior...
Villas at Henderson Pass

DB Capital acquires 228-unit apartment community in San Antonio

Multifamily investment firm DB Capital Management (DB Capital) has partnered with Sabal Financial Group to acquire Villas of Henderson Pass, a 228-unit multifamily community in San Antonio, Texas. The property, which was 98 percent...
Center & Stone

Financing secured for Massachusetts multihousing development

JLL Capital Markets announced that it has arranged the construction financing for Center & Stone, a 201-unit, two-building multihousing project with 9,500 square feet of retail space and 10,500 net square feet of amenity...
Highland Lakes

Cushman & Wakefield arranges $42 million sale of Highland Lakes

Cushman & Wakefield announced that the commercial real estate services firm has arranged the $42 million sale of Highland Lakes, a 224-unit multifamily property located in the Prattville submarket northwest of Montgomery, Alabama. Craig Hey and...
Mosaic Dallas

Institutional Property Advisors brokers Mosaic Dallas sale

Institutional Property Advisors (IPA), a division of Marcus & Millichap, announces the sale of Mosaic Dallas, a two-tower multifamily high-rise with 440 apartments and 8,766 square feet of ground-floor retail in Downtown Dallas, Texas. “Constructed...
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