MacKenzie Commercial Real Estate Services, LLC has brokered the sale of 600 South Caroline Street, a 50,000 square foot warehouse building situated between the Harbor East and Fells Point sections of Baltimore City to Chasen Companies for $10 million. The Meyer Seed Company, a three-generation, family-run seed and garden supply operations that dates back to the early 1900s, has owned the property since 1969. The new owner intends to redevelop the 1.19-acre site, combined with the adjoining parcel at 1400 Aliceanna Street, into a 272-unit luxury apartment project that will also feature more than 70,000 square feet or retail amenity space. Mark Deering, Partner and Owen Rouse, Vice President for MacKenzie Commercial Real Estate Services, represented the seller in this transaction.

Long Beach, Calif. – Stepp Commercial, a leading multifamily brokerage firm in the Los Angeles market, has completed the $6.5 million sale of a 16-unit apartment property located at 640 Stanley Avenue in the Rose Park neighborhood of Long Beach. The Rose Park neighborhood is ideally situated just blocks from the trendy Fourth Street/Retro Row area and is just seven minutes from downtown Long Beach.

MIAMI, FL – JLL Capital Markets announced today that it has closed $51.25 million in acquisition financing for a three-property multi-housing portfolio in Gainesville, Florida.

MORRISTOWN, NJ – JLL Capital Markets announced today that it has arranged the $87.1 million financing of Valley and Bloom, a two-building, 258-unit, mixed-use multi-housing community in Montclair, New Jersey. In addition to the residential units, the property also includes 19,812 square feet of office space, 19,921 square feet of retail space and an attached parking garage.

CHARLOTTE, NC – JLL Capital Markets announced that it has arranged $28 million in equity and arranged a $65.2 million construction loan for The Joinery Phase II, a two-building, 361-unit, mid-rise multi-housing development with 17,384 square feet of ground-floor retail in Charlotte, North Carolina.

MORRISTOWN, NJ – JLL Capital Markets announced today that it arranged $68.2 million in senior debt and $22.7 million in mezzanine construction financing for PARQ, a 275-unit, Class A to-be-built apartment community located in Parsippany, Morris County, New Jersey.

Magma Equities (“Magma”) has acquired the recently completed Litchford 315 Apartments, a 240-unit multifamily community in Raleigh, N.C., in an $83 million off-market transaction. This represents Magma’s fourth apartment investment of the year in North Carolina and the firm’s ninth overall in 2022, which nearly equals its total investment volume in 2021.