Property Acquisitions and Dispositions
JLL Capital Markets announced today that it has arranged the $15 million subordinate loan from The Amazon Housing Equity Fund for the acquisition of 192 Shoreline, an affordable, 250-unit, mid-rise multi-housing development in the suburban Seattle community of Shoreline, Washington.
LaGrange, Ga. (March 17, 2022) – Berkadia announces it has secured a loan for the acquisition of Exchange at 1105, a new Class A 280-unit garden-style multifamily property in LaGrange, Ga., in Troup County. Alliance Bernstein provided the financing.
Berkadia announces it has arranged the sale of Lirio at Rafina, a brand-new, 280-unit, Class AA luxury garden apartment community in Orlando, Fla. Managing Directors Brett Moss and Matt Wilcox, Associate Director Tyler Swidler and Senior Managing Director Cole Whitaker of Berkadia Orlando marketed the property on behalf of Catalyst Development Partners and Six Pines Realty. Preferred Apartment Communities acquired the property.
Houston, Tex. – Privately held real estate investment firm 29th Street Capital (29SC) has acquired Venue Museum District in Houston, Texas. This marks the firm’s 16th multifamily acquisition in the Houston metro area.
Long Beach, Calif. – Stepp Commercial, a leading multifamily brokerage firm in the Los Angeles market, has completed the $5.5 million sale of a 14-unit apartment property located one block from the ocean at 1425 Ocean Avenue Long Beach, CA.
Los Angeles, CA – Stepp Commercial, a leading multifamily brokerage firm in the Los Angeles market, has completed the $6.975 million sale of a 16-unit apartment property located at 1901 6th Street in Santa Monica, CA. The asset is situated just six blocks from the ocean and is a short walk to the Santa Monica Pier, Third Street Promenade and Main Street restaurants and shops.
News From The Mogharebi Group
The Lynd Group has acquired a newly constructed garden-style apartment community in San Antonio, Texas for $49 million. The 244-unit Esperanza Apartments is in the Far West submarket near Highway 211 and close to one of San Antonio’s largest employment centers. The transaction closed March 9.
SB Real Estate Partners (“SBREP”) has acquired Cantamar Apartments, a 180-unit garden style multifamily community in Glendale, AZ for $58.1 million. The property will be rebranded as Portola On Bell.
