Cities
Phoenix Community Commands $42M
Brass Enterprises made its first foray into the metro’s multifamily market with the acquisition of 1221 Broadway, a 194-unit garden-style property in Tempe, Ariz.
Houlihan Lawrence Adds to C-Suite
The 130-year-old company has announced the promotion of Anne Marie Gianutsos to CMO and the appointment of Nicholas Fears as CFO of the company’s corporate management team, headquartered in Rye, N.Y.
Sussex Capital Snags LA Community
Avison Young brokered the deal, which amounted to $450,000 per unit. The property, called Hillpointe, includes 30 units in Hollywood Hills.
6 Innovative Products from the NAA Education Conference
Some of the most interesting products included an augmented reality interior design app, a smart shower system and pet-friendly carpeting.
ARA Newmark Closes $60M Sale of Denver Asset
The 200-unit mixed-use community is located near the city’s central business district and was completed in 2015. The property includes 4,220 square feet of ground-floor retail space.
Aimco Buys Out Palazzo JV Partners for $452M
The company sourced funds for the acquisition by taking title subject to existing allocable debt and using cash proceeds from the pending sales of some of its assets in the Northeast.
Napali Nabs Atlanta-Area Community
The deal is in line with the company’s long-term plan to grow its portfolio and strengthen its focus on creating passive income streams for its investors.
Marcus & Millichap Arranges Sale of Two Texas Communities
The company worked on behalf of two Texas-based sellers for the sale of a 484-unit community in Fort Worth, Texas, and for the 536-unit property in Dallas.
The Praedium Group Invests $90M in TX, FL
“The real estate investment firm added 530 units to its multifamily portfolio by acquiring the 288-unit Fox Hill Apartments in Austin and the 242-unit Park Place at Maguire in Orlando.
LA Investor Snags $107M Suburban Denver Portfolio
Gelt’s acquisition includes two assets in Lakewood: the 408-unit Ascend at Red Rocks and the 172-unit Elevate at Red Rocks.