Finance & Investment
Berkadia Completes $31M Vegas Sale
Sundance Bay acquired Desert Ridge Apartments, which includes 304 units and a dog park, a racquetball court and a playground.
JV Scores ’80s-Vintage Phoenix Apartments for $27M
L5 Investments, MLA Properties and BH Equities picked up the 360-unit Cielo Apartments and plan to invest $4.2 million in capital improvements.
Marcus & Millichap Brokers Sale of FL Property
Fifth Avenue Courtyard is a 21-unit value-add community located in St. Petersburg. The buyer plans to upgrade the unit interiors.
Boston’s Pricing Power
Bruce Lusa, vice president of multifamily investment sales with Colliers International, discusses area trends and offers tips to investors targeting the city’s booming market.
Miami Beach Condo Project Receives $137M Loan
Kasowitz Benson Torres’ Douglas Heitner, Erik Nygaard and Albert Delgado represented JDS Development Group in the transaction. Jerold Feuerstein of Kriss & Feuerstein worked on behalf of the borrower, Madison Realty Capital.
Greystone Provides $29M for Sacramento Acquisition
Carmel Pointe is a 332-unit garden-style community that includes a dog park, spa and five laundry rooms.
Investor Buys Chicago Condos, Plans Conversion
Beal Properties acquired the 117-unit asset for $30 million from Wellington Place Condominium Association.
Cresta Properties Lands Refi for Dallas Community
The 144-unit property, constructed in 1963, offers a range of studios, one- and two-bedroom units in the city’s West Vickery Park submarket.
Canadian Investor Acquires Phoenix-Area Property
Western Wealth Capital secured the 256-unit Greentree Place in Chandler from GP Chandler Investco. The community includes a pool, a playground and a tennis court.
Palo Alto Community Changes Hands
Levin Johnston has brokered the sale of the property on behalf of the seller, an international owner and represented the buyer, a local investor.