Apartment Look

Sir John's Apartments | Phoenix, AZ PHOENIX - Aug. 21, 2017 - PRLog -- ABI Multifamily , the Western US's leading multifamily brokerage and advisory services firm , is pleased to announce the $1,484,000 / $106,000 Per Unit sale of the Sir John's Apartments, a 14- unit apartment community located in Phoenix, Arizona. The property is a one- story apartment community , built of block construction in 1967 and rests on 0.88 acres. The property features all (14) 2-bedroom units with an average size of 850 square feet. Each unit is individually metered for electricity and features its own enclosed backyard. Ryan Smith, Vice President at ABI, who represented the Seller and Buyer in the transaction, states, "The Buyer saw opportunity in both implementing a value add strategy, as well as, the property's Arcadia submarket location . The Buyer intends to reposition the property to compete with the on-going demand for more affordable B class housing." The Seller was ...

bedroom floor plans and features a swimming pool, grilling stations, courtyard areas, clubhouse, fitness center and a racquetball court." /> The Citizen at Shirlington includes one- to three- bedroom floor plans and features a swimming pool, grilling stations, courtyard areas, clubhouse, fitness center and a racquetball court. ARLINGTON, VA. — Waterton has acquired Windsor at Shirlington Village, a 404- unit multifamily community located within The Village at Shirlington, a transit-oriented neighborhood in Arlington, roughly five miles southwest of Washington, D.C. The sales price was not disclosed, but the Washington Business Journal reports the Chicago- based real estate owner and operator acquired the asset for $144 million. Constructed in 1992, the property will be rebranded as The Citizen at Shirlington Village and will undergo capital improvements including the upgrade of unit interiors , renovation of the fitness center and community room and enhancement of outdoor...

ARLINGTON, TX - Eagle Property Capital Investments announced the acquisition of Central Park, a 331- unit multifamily property located in Arlington, Texas within the Dallas / Fort Worth Metropolitan Area. The Property was acquired by EPC Multifamily Partners III, a private investment vehicle raised and managed by EPC. The Property represents the fifth acquisition for Fund III. DFW has one of the strongest fundamentals in the United States in terms of population, job, household income, and economic growth . The Property is in close proximity to abundant employment, recreation, shopping and entertainment venues. It is conveniently located less than 1.8 miles from the Arlington medical cluster , 2.0 miles from Arlington’s retail hub (which includes Arlington Highlands and Parks at Arlington Mall), 1.6 miles from University of Texas at Arlington and just 20 miles from the major employment centers of Downtown Fort Worth and Downtown Dallas . EPC will execute its proprietary ...

Massachusetts firm pays $56M for Jupiter apartment complexes Mallards Cove and Shell Trace Apartments sold for about $156,000 per unit By Amanda Rabines | August 15, 2017 12:00PM Mallards Cove Apartments Inset : Lawrence R. Gottesdiener CEO Northland Investment Big ticket multifamily complexes keep trading in South Florida. Newton, Massachusetts- based Northland Investment Corp . just bought two sister rental communities in Jupiter for $56 million, property records show . The real estate investment firm financed the deal with a $46.4 million mortgage from CBRE Capital Markets . Records show the mortgage is a Freddie Mac loan . The communities are called Mallards Cove and Shell Trace Apartments . The properties, located at 6705 Mallards Cove Road , stretch nearly 31 acres and offer about 359 units, meaning the trade breaks down to about $156,000 per unit. The seller is linked to Rhode Island- based Preston Giuliano Capital Partners . Records show the company is led by Michael Giul...

unit Lake Tivoli Apartments is located at 851 Lake Tivoli Blvd. in Kissimmee, Fla., roughly 22 miles south of Orlando." /> The 384- unit Lake Tivoli Apartments is located at 851 Lake Tivoli Blvd . in Kissimmee, Fla., roughly 22 miles south of Orlando. KISSIMMEE, FLA. — CBRE has brokered the $49.5 million sale of Lake Tivoli Apartments , a 384- unit multifamily property located at 851 Lake Tivoli Blvd . in Kissimmee, roughly 22 miles south of Orlando. Shelton Granade, Luke Wickham and Justin Basquill of CBRE represented the seller, Lake Tivoli Apartments LLC . Newport News, Va.- based Chandler Residential acquired the asset. The property comprises 36 two- and three-story buildings. Community amenities include a lakeside sundeck, pool, tennis, racquetball and basketball courts, clubhouse, fitness center and a spa. Lake Tivoli Apartments was 97 percent occupied at the time of sale. Tagged sales_and_leases

Gebroe-Hammer Associates Coveted apartment  complex fetches $40M An apartment community in tony West Orange , NJ,  has been sold for $40.5 million. Gebroe- Hammer Associates brokered the sale of the 178- unit Crest Ridge Apartments complex . The team of Greg Pine and Adam Zweibel exclusively represented the original developer , Rockledge Realty, LLC, and procured the buyer, Sela Realty Investments , in the transaction. Located at 200 Mt. Pleasant Ave. at the base of an 80 ft. cliff, the 16-building, historically well- occupied complex posed an extremely rare acquisition opportunity within the Northern New Jersey metro. “Situated in the Town Center section of West Orange, Crest Ridge Apartments is at the heart of one of the most expensive, in- demand local neighborhoods as well as the transit- filled greater West Essex County submarket ,” said Pine. “In a township where apartment rentals make up only about one-third of the housing stock, Crest Ridge Apartments is a gem favored...

CHANDLER, AZ - Security Properties purchased Arches at Hidden Creek, a 432- unit multifamily property located in Chandler, AZ for $55 million.  Security Properties now own five assets in the Phoenix marketplace.Arches at Hidden Creek is located within the dynamic Chandler submarket .  Chandler's median annual household income is approximately $71,000, 32% higher than Maricopa County, which covers most of the Phoenix MSA.  Chandler's greatest strength is its employment base.  Arches sits within five miles of 70,000 jobs in industries that include high-tech manufacturing, aerospace, bioscience, and advanced business services .  Because of the city's central location and proximity to three freeways, it can pull from more than 1.7 million people within a 30-minute commute. The Price Road Corridor is the area's largest and most established employment center . Silicon Desert, as it is known, is located just one mile southwest of Arches. The property is also within clo...

LAKEWOOD, CO - Wood Partners, a national leader in multifamily real estate development , announced that its clubhouse is open and it has begun on-site leasing at Alta Pinehurst , a 350-unit community in Lakewood, Colorado.Conveniently located on the border of Lakewood and Denver, it is adjacent to the historic 27- hole Pinehurst Country Club . The community is surrounded by the natural beauty and views of the Colorado landscape while providing state-of-art amenities and modern living spaces . " Alta Pinehurst is ideally located where residents can enjoy all of the perks and conveniences of metro Denver, while still having quick access to the mountains," stated Tim McEntee , Director of Wood Partners' Rocky Mountain and Midwest Regions. "This location is a perfect fit for outdoor enthusiasts with highly active lifestyles ." Alta Pinehurst is close to the Wadsworth shopping corridor , with easy access to Southwest Plaza Mall and Belmar. Highway 285 provi...

Botnick Realty is boosting its presence in Cheesman Park. The firm paid $6.75 million for 1295 Race St. in Denver, also known as the Campbell Stone Memorial Residences , an income- and age-restricted community – located across the street from its Metropolitan Apartments, a mixed-age and -income property. Botnick Realty plans to continue to operate the building for the foreseeable future as housing for low-income seniors, noted Craig Stack of Colliers International Multifamily Advisory Group . “There was a lot of initial interest in the property,” said Stack, noting that due to the low-income and age-restricted nature of the community to individuals 55 and up earning 60 percent of area median income , it drew fewer bids than a market-rate property but still saw 16 offers. The community has been well maintained, included upgraded windows and underwent a number of additional capital improvements over the last 10 years, added Stack. The buyer is expected to make modest upgrades on t...

29th Street Capital and Stonemark Equities Acquire Southern Hills Apartments in Arlington, TX Irvine, CA, November 10, 2013 --(PR.com)-- 29th Street Capital (29SC), through its high net worth fund , has closed on an off-market opportunity to acquire Southern Hills , a 250- unit apartment community located in Arlington, TX. The property was acquired through a partnership sponsored by Stonemark Equities . Southern Hills was owned and self-managed by a group of private investors. The property suffers from deferred maintenance that has resulted in rents and occupancy below neighboring competitive properties . The business plan is to immediately implement professional management through Stonemark Management , LLC, and invest $1.3 million for both interior and exterior improvements to achieve rents in line with the market. “This asset is a great addition to our high net worth fund with strong cash flow and future upside,” said Robb Bollhoffer, Managing Partner at 29SC. “We are also ...

SAN DIEGO — A joint venture between Allstate and TruAmerica Multifamily has acquired the 519- unit Eagles Point Apartment Community in the San Diego submarket of Escondido for $90 million. The community is located at 1501 E. Grand Ave. Eagles Point includes studio to three-bedroom apartments. The asset has not been updated since it was built in 1985. The JV plans to refurbish all interior units and upgrade the property’s two pools and spas, tennis courts and clubhouse. Plans also call for a new fitness center to be built into the existing clubhouse. CBRE’s Troy Tegeler arranged the project financing through Fannie Mae. The firm’s Kevin Mulhern, Rachel Parsons and Dixie Hall represented the seller in this transaction. Tagged more_sales_and_leases

Funny how your tastes change. There once was a time – back when Coolio actually was cool – when I desperately wanted to live in a town with an Applebee’s . I now reside in a metro area with five, and I’m more concerned that a hole-in-the-wall joint like Silla Cafe is closing. The Broad Street eatery , whose teriyaki chicken has been beloved by downtown denizens for more than two decades, is calling it quits next month. Owned and operated by Felton and Tae Mitchell , the literal “mom-and-pop” restaurant serves its last dish at 855 Broad St. on Sept. 14. “We had fun, but we’re ready to retire now,” Tae said. “We’ve been talking about retiring for a couple years now.” She said that decision to retire was hastened, however, by a steep increase in their rent. “It’s almost double,” she said in a phone interview. Last year the building was purchased by Rafik “Rafi” Bassali , a young real estate investor who is becoming somewhat of a downtown property mogul . The owner of The Swank Company...