Property Acquisitions and Dispositions

ORLANDO, Dec. 7, 2021 – JLL Capital Markets announced today that it has closed the sale of Falcon Square at Independence, a 379-unit, three-story, garden-style community in Winter Garden, Florida.

MORRISTOWN, N.J., Dec. 9, 2021 – JLL Capital Markets announced today that it has closed the sale of Southpoint at Massapequa, a 214-unit, luxury, multi-housing community located in Massapequa, New York.

CHICAGO, Dec. 8, 2021 – JLL Capital Markets announced that it has closed the sale of 1717, a 175-unit, mid-rise apartment building in Evanston, Illinois.

MORRISTOWN, N.J., Dec. 6, 2021 – JLL Capital Markets announced today that it has closed the sale of Montclair Residences at Bay Street Station, a 163-unit, transit-oriented multi-housing community in suburban New York City community of Montclair, New Jersey.

Newmark[1] announced it has completed the sale of The Rexford, a 203-unit fully-renovated multifamily community located at 3400 Country Drive in Fremont, California. The closure sets a new record[2] in Fremont as the largest single multifamily transaction in the city’s history with a sale price of $112.5 million. The buyer was a publicly traded real estate investment trust, and the seller was The Ezralow Company, a diversified real estate development and investment firm based in Southern California.

 

Newmark[1] is pleased to announce the sale of Second and B Street (“815 B Street”), a newly constructed, 41-unit multifamily mixed-use development in downtown San Rafael, California, just north of San Francisco in affluent and severely supply-constrained Marin County. Completed in June 2021, the building was 75% leased and occupied at sale closing.

 

Newmark Executive Managing Directors Haden Ongaro and Mark Leary, Managing Director Jay Cross and Director Rob Ledoux represented the seller, Monahan-Parker, and procured the buyer, Napa-based Channel Properties.

 

This email address is being protected from spambots. You need JavaScript enabled to view it. , This email address is being protected from spambots. You need JavaScript enabled to view it.This email address is being protected from spambots. You need JavaScript enabled to view it., and This email address is being protected from spambots. You need JavaScript enabled to view it. of Northcap Commercial are pleased to announce the recent sale of the Oakridge Villas Apartments for $5,700,000 ($135,714/unit). This sale consisted of 42 units built in 1979 located at 811 Joyce Street in Henderson, Nevada.

Ashcroft Capital, a fully integrated multifamily investment firm, today announced the acquisition of Elliot Pioneer (formerly Monterra Pointe), a garden-style community located almost exactly halfway between Fort Worth and Dallas in Arlington. Birchstone Residential, Ashcroft Capital’s in-house property management company, has assumed management of the community.

JRK Property Holdings through its multifamily value add funds has acquired five garden-style apartment home communities in Florida, Texas, Louisiana and Maine totaling more than 1,500 units for $390 million. These transactions round out a year with nearly $700 million in new acquisition transaction activity for JRK.

Kiser Group, Chicagoland’s leading multifamily brokerage firm, brings to market The Fredona Condominiums, located at 815-817 West Addison, in the Wrigleyville neighborhood of Chicago. The 16-unit condo building is listed for $5.5 million. Director Andy Friedman and Advisor Jake Parker are marketing the property and will lead the Fredona Condominium Association through the Section 15 Deconversion sale.

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