Property Acquisitions and Dispositions
JLL Capital Markets announced today that it has closed the sale and acquisition financing for the garden-style Willow Ridge apartments in Southwest Houston.
Kiser Group, Chicago’s leading multifamily brokerage firm, recently represented the buyer and seller of Park Beach Apartments, located at 5327 S. Cornell Ave. in the Hyde Park neighborhood. The 77-unit Single Room Occupancy (SRO) building sold for $2,200,000. Jimal Gilbert and Lee Kiser were the brokers in the transaction.
Multifamily investment firm DB Capital Management has closed the acquisition of Red Owl Apartments, a 46-unit community in Denver, CO for $16.2 million, marking the firm’s entry into the Denver market.
The View of Fort Worth will be rebranded to The Shelby at Northside
JLL Capital Markets announced today that it has closed the sale of the bulk condominium interest in Gull Harbor, a multi-housing property located at 17105 Gulf Blvd. in North Redington Beach, Florida.
JLL Capital Markets announced today that it has arranged a $21.285 million refinancing for Westover Parc, a 160-unit, multi-housing property located at 6515 W. McDowell Rd. in Phoenix, Arizona.
JLL Capital Markets placed the loan on the 96-unit The Point at Biscay f.k.a. Outlook Biscay property
Sacramento, Calif. – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired Amber Park Apartments and Davenport Apartments totaling 248 units in Sacramento, California. 29SC plans to make improvements to unit interiors, including adding high-quality laminate countertops, vinyl plank flooring, modern paint schemes and stainless-steel appliances. The firm also plans value-creating improvements to the amenities, roofing and curb appeal at both properties.
Los Angeles, Calif. – Stepp Commercial, a leading multifamily brokerage firm in the Los Angeles market, has completed the $3.75 million sale of a vacant parcel of land totaling 8,750 square feet located at 5717 Carlton Way in Hollywood. The site, which is within an Opportunity Zone, is fully entitled for the development of Fifty-Seven 17, a 39-unit apartment community.
