Deals
Western Wealth Completes 40th Acquisition in Phoenix
The Canadian firm expanded its Arizona portfolio with the acquisition of Sun Wood, a 220-unit age-restricted community in Peoria, Ariz.
NorthMarq Multifamily Brokers 120-Unit NM Sale
The community represents the buyer’s first acquisition in Albuquerque. The 10-building asset traded for $7.5 million, with Berkadia arranging the Freddie Mac acquisition financing.
Related, Rockpoint to Launch $2B Value-Add Program
The partnership will concentrate primarily on the Florida market but will also search for opportunities within other successful metros, including Atlanta, Phoenix and Dallas.
Franklin Street Facilitates $2M Miami Sale
Oscar Banegas, Kameron Djamal and Dan Dratch represented the seller in this transaction. Director of Capital Advisors Tony Gannacone secured financing for Sabal Capital Royal Palms Apartments.
Marcus & Millichap Brokers San Diego-Area Buy
Chris Zorbas, senior managing director with Marcus & Millichap, represented the seller in this deal, while ACI Principal Terry More worked on behalf of Paolo & Elisa, the buyer.
ACI Arranges Sale of Small San Diego Community
Principal Terry Moore represented the buyer, while South Coast Commercial Vice President Ben Vogelsang worked on behalf of the seller in this $1.6 million deal.
Praedium Group Snags Houston Community
Discovery at Mandolin comprises 260 units and access to a dog park, a fitness center and a cybercafe. The property is set to undergo capital improvements.
South FL Value-Add Property Sells for $44M
ARA Newmark’s Vice Chairmen Avery Klann and Hampton Beebe, together with Director Jonathan Senn, worked on behalf of the seller in the transaction.
SVN Brokers MD Student Housing Sale
The 48-bed community dubbed The Allston features a mix of studio and one- to three-bedroom units that serve students attending Johns Hopkins University.
Sterling Real Estate Expands Value-Add Portfolio with Phoenix Asset
Cambridge Court Apartments is a 286-unit community that traded for $24 million. The company plans to invest in improvements.