Tuesday , 27 September 2016
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Multifamily Deals

AUSTIN INVESTMENT FIRM BUYS 327-UNIT APARTMENT COMPLEX

SAN ANTONIO — Brixton Santa Fe SA, LLC, an Austin investment group, has purchased Santa Fe Place, a 327-unit apartment complex in northwest San Antonio.

The 7-acre property at 4210 Fredericksburg Road was built in 1974. SFP Apartments, LLC, was the seller.

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MARCUS & MILLICHAP ARRANGES SALE OF DELUXE UNITS IN WACO

WACO, Texas — Marcus & Millichap, a commercial real estate investment services firm, has arranged the sale of The Retreat at Central Texas Marketplace, a 216-unit luxury apartment community in Waco. Terms of the sale were not released.

Joe James and Kent Myers, vice presidents of investments in Marcus & Millichap’s Austin office, represented the seller and procured the buyer.

The property is located at 2500 Marketplace Drive at Interstate 35 and Loop 340/Highway 6.

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G&D APARTMENTS GETS NEW OWNER; ‘SUBSTANTIAL RENOVATIONS’ DUE

WYANDOTTE, Mich. — Commercial Property Advisors has sold G&D Apartments at 2700 6thSt. in Wyandotte to Huron River Wyandotte, LLC.

The 53-unit property was 89% occupied at the time of closing.

The complex is made up of 12 one-bedroom units, 39 two-bedroom apartments and two, two-bedroom penthouses. The buyer is planning substantial renovations, including interior upgrades, roofs and parking lot repairs.

Scott Sutphin of CPA’s Midwest office negotiated the transaction between the seller, G&D Investment Properties, LLC, and the buyer

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HFF CLOSES $47.75M DEAL ON PROPERTY IN ALPHABET DISTRICT

PORTLAND, Ore. – Holliday Fenoglio Fowler, LP, has closed the $47.75 million sale of The Cordelia, a 135-unit, two-building, multi-housing property in Portland’s Alphabet District.

HFF marketed the property on behalf of Mill Creek Residential Trust and its capital partner.

The Cordelia is located at 777 NW 19th Ave. between Portland’s Pearl District and the NW 23rdAvenue retail corridor.

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MANHATTAN FIRM TO MANAGE TWO BROOKLYN RENTAL SITES

BROOKLYN, NY – Manhattan-based CompassRock Real Estate has been awarded the management of two new rental residential developments within Pacific Park Brooklyn. The area, formerly known as Atlantic Yards, was renamed in August 2014 as part of a rebranding.

Pacific Park Brooklyn will encompass approximately 22 acres between Flatbush and 4th avenues. It will include 6,430 residential units and a million square feet of commercial space, including retail and restaurants.

CompassRock is a multi-family and commercial property management company.

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VENTERRA REALTY BUYS 390-UNIT APARTMENT BUILDING IN SAN ANTONIO

SAN ANTONIO — Houston-based Venterra Realty Management has purchased Ventana, a 390-unit apartment complex in the Northwest Medical Center section of San Antonio.

Patton Jones and Matt Michelson of ARA Newmark represented the seller, California-based Francis Property Management. Ventana was built in 1994.

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JOHN HANCOCK LIFE ACQUIRES THREE CALIFORNIA PROPERTIES

SAN DIEGO – Boston-based John Hancock Life Insurance Co. has acquired two residential communities in San Diego

In addition, the insurance giant acquired Casa Lago Eastlake, a 427-unit Class A rental residential property consisting of two complexes built in 2013 on approximately 20 acres in Chula Vista, Calif., 14 miles southeast of San Diego.

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M&M SELLS 105-UNIT APARTMENT IN TAMPA FOR $3.9 MILLION

TAMPA – Commercial real estate investment services firm Marcus & Millichap has sold Raintree Oaks Apartments I & II, a 105-unit apartment in Tampa, Fla. The property sold for $3,937,500.

Francesco P. Carriera and Michael P. Regan, both vice presidents of  investments, and Joshua Teplitzky, associate, all in Marcus & Millichap’s Tampa office, along with Felipe J. Echarte, vice president of investments, and Alejandro Gonzalez, associate, both in the firm’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a private investor.

The buyer was secured and represented by Teplitzky, Carriera and Regan.

Raintree Oaks Apartments is a fractured-unit condominium multi-family community at 12708 English Hills Court.

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HFF CLOSES SALE OF 40-STORY, RESIDENTIAL TOWER IN SEATTLE

SEATTLE — Holliday Fenoglio Fowler, LP, has closed the sale of Premiere on Pine, a 386-unit, 40-story luxury apartment tower in Seattle’s Pike-Pine retail corridor.

HFF marketed the property on behalf of the Holland Partner Group and its finance partner.

Completed in 2014, Premiere on Pine is a LEED (Leadership in Energy and Environmental Design) Silver-certified tower with studio, one-, two- and three-bedroom condominium-quality units averaging 797 square feet each.

The property also has 3,385 square feet of ground floor retail.

The HFF team representing the developer was led by executive managing director Matthew Lawton, managing director Ira Virden and senior managing director Gerry Rohm.

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57 Units Sell for $3.2 Million

ST. PETERSBURG, Fla. – Commercial real estate investment firm Marcus & Millichap has announced the sale of Charter House Apartments, a 57-unit property in the Kenwood section just west of downtown St. Petersburg, Fla. The asset sold for $3.2 million.

Casey Babb, certified commercial investment member and vice president investments, and Luis Baez, associate, in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.

 

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