Property Acquisitions and Dispositions
CHICAGO, IL – January 7, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of LINEA, a newly constructed, 265-home, luxury high-rise apartment building located at 215 West Lake Street in downtown Chicago.
, and of Northcap Commercial Multifamily, are pleased to announce the recent sale of Summit Estates Apartments for $1,115,000 ($61,944/unit). This sale consisted of 18 multifamily units built in 1972, located at 2131, 2135, 2141, and 2145 Daley Street in North Las Vegas, Nevada.
American Landmark continues to selectively acquire properties in excellent locations across the Southeast and Southwest. The company has completed 28 property acquisitions worth over $1.5 billion since the beginning of 2018.
Kiser Group, Chicago’s leading multifamily brokerage firm, recently brokered 1140 N. LaSalle Dr. for $38 million. The Flats on LaSalle Condominium Association agreed to a bulk sale of all 250 units. The buyer, ESG Kullen, acquired the property as a deconversion and will turn all of the units to apartments. The deal was brokered by Kiser Group’s Lee Kiser, Michael D’Agostino and Jake Parker. Kiser Group also introduced equity broker Alpha Capital to ESG Kullen, resulting in Harrison Street Capital becoming a partner in the deal.
Katy, Texas - Berkadia announces it has secured $22.264 million in acquisition financing for Echo at Katy Ranch, a 260-unit garden-style Class A asset located in Katy. Senior Managing Director Tucker Knight and Director Nicholas Murphy of Berkadia’s Houston office arranged the loan on behalf of Olympus Property, a Fort Worth based full service multifamily investment and property management organization who owns and operates 17,000 units across 10 states.
December 20, 2018
TAMPA, FL (December 20, 2018) — Franklin Street has completed the sale of The Avenue Apartments in the Temple Terrace submarket of Tampa, for $23.3 million. The 216-unit multifamily property is located at 9101 Avenue Clue Drive in Hillsborough County. The Avenue Apartments, LLC, a partnership led by a private local investor with Canadian equity partners, acquired the property from locally-based Bayside Ventures V, LLC., , and of Franklin Street Real Estate Services in Tampa represented both parties in the transaction. Franklin Street’s provided insurance services for the asset.
Thorofare Capital has provided a $15 million floating-rate first mortgage to Highpoint Property Group (Highpoint) to acquire, renovate and stabilize a mixed-use multifamily property in Brooklyn, NY.