Property Acquisitions and Dispositions
Mesa, Arizona – 29th Street Capital (29SC), a privately-held real estate operator, has acquired Argenta Apartments, a 396-unit multifamily community located in Mesa, Arizona. 29SC plans to invest over $3.2 million in capital improvements. Interiors will receive updated flooring, new black appliances and upgraded fixtures as well as plumbing and lighting packages. Cabinets will also be re-faced. Exterior improvements will focus on landscaping, A/C units and roof repairs. The new owner will add a dog park and playground and upgrade the pool area.
Admiral Capital Group and Elite Street Capital recently announced the successful sale of The Fields Peachtree Corners, a 490-unit multifamily property located in Norcross, Ga., in the Atlanta MSA. The asset was sold for $51.2 million, representing an increase of over 40% in value.
Los Angeles, CA (Nov. 15, 2018) —Decron Properties has acquired Willow Creek, a 208-unit multifamily community in San Jose, CA for $84.6 million, increasing its annual investment activity for the year to a record $345 million.
, , and ,of Northcap Commercial Multifamily, are pleased to announce the recent sales of Casa Bonita Apartments and Valley Vista Apartments for $7,150,000 ($99,305/unit). This sale consisted of 72 multifamily units built in 2004, located at 1411 N. 23rdStreet and 2930 Mountain Vista Street in Las Vegas, Nevada. This was a portfolio sale which consisted of two separate parcels being sold at the same time.
Fogelman Properties, one of the country’s largest, privately-owned and fully integrated multifamily investment and property management companies, is pleased to announce the acquisition of Reserve Bartram Springs Apartments in Jacksonville, Fla.
FLORHAM PARK, NJ – November 7, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $43 million sale of The Fairview, a 12-story, Class A apartment property in Fairview, Bergen County, New Jersey.