Property Acquisitions and Dispositions
PORTLAND, ORE., June 8, 2020 – JLL Capital Markets announced today that it has completed the sale of Modera Davis, a 204-unit, luxury high-end residential community located in Portland, Oregon’s Pearl District.
Greystar Real Estate Partners, LLC (“Greystar”), a global leader in the investment, development, and management of high-quality rental housing properties, today announced the acquisition of the property management business of Alliance Residential Company (“Alliance”). The combined businesses will continue to deliver best-in-class services for clients, partners and residents under the Greystar brand.
Affordable Housing Investment Brokerage Inc. recently sold a 14-building, 249-unit affordable housing portfolio in Gary, Indiana for $10,375,000. Managing Director Kyle Shoemaker represented both the purchaser, a private investor, and seller, a private investor, to complete the transactions.
Affordable Housing Investment Brokerage Inc. recently sold two Waterloo, Iowa apartment complexes, Mt. Carmel and Mt. Village, for $2,800,000. Managing Director Kyle Shoemaker and Senior Vice President Dan Piatkowski, represented both the purchaser, a non-profit, and seller, a private investor, to complete the transactions.
LaSalle Towers, located at 1211 N. LaSalle Dr., has been listed for sale exclusively by Chicago-based multifamily brokerage firm Kiser Group. The 70-unit, 19-story building was built in 1929 as a hotel, later converted to apartments, and in 2006 was converted to condominiums. The units are a mix of one-bedroom, one-bathroom and two-bedroom, two-bathroom apartments. The property also features two commercial spaces. The LaSalle Towers Condominium Association is represented by Kiser Group Brokers Andy Friedman and Jake Parker.
CHARLOTTE, May 21, 2020 – JLL Capital Markets announced today that it has completed the sale and financing of Hawthorne at Lake Norman, a 232-unit, Class A multi-housing community in Mooresville, North Carolina.
1901 W. Granville Ave. has been listed for sale by Chicago-based multifamily brokerage firm Kiser Group. The 45-unit multifamily property is located in Chicago’s West Ridge neighborhood. 1901 W. Granville Ave. is listed for $5,900,000 and represented by Kiser Group Brokers Rick Ofman and Danny Logarakis.
Floor plans include 13 two-bedroom units, 26 one-bedroom units and six studio units. Two-bedroom rents range from $950 to $1,200, and rents for one-bedroom units range from $800 to $1,000 per month. Studios currently rent between $750 to $800 per month.
“The heavy lifting has been done at the property as the plumbing and electric have been replaced throughout and 24 of the 45 units were recently renovated to condo quality,” said Ofman. “Value-add investors can see tremendous rental upside between renovating the remaining units and improved management. ”
