Market Rate
Marcus & Millichap Brokers Sale of MN Asset
Led by Michael Glass, regional manager of the firm’s Minneapolis office, Evan Miller, Mox Gunderson, Dan Linnell and Josh Talberg of GLT Partners completed the $2.8 million transaction.
JV Nabs 300-Unit Orlando Property
Robbins Property Associates and LEM acquired Art Avenue, which spreads across 11 buildings and features a business center, a swimming pool and 350 parking spaces.
Capstone Expands TX Management Portfolio
The firm will manage two recently traded Class C communities in Houston and Waco, totaling 315 units across 27 buildings.
On the Market: 5 Interesting Listings for the Week of 3/12
This week’s listings include a newly constructed asset in Culver City, Calif., which includes ground-floor retail, as well as a community in southern Dallas near the booming I-45 industrial sector.
Passco Extends in ATL with $69M Acquisition
The increasing job and population growth in Gwinnett County is what drove Passco Cos. to make the investment, with existing assets like Merritt at Sugarloaf presenting strong value-add opportunities.
Covenant Capital Flips 2 SC Assets
The transaction netted the seller nearly $45 million after the renovation and expansion of the communities in Greenville’s East and Overbrook submarkets.
Miami-Area Community Chooses New Management
The 226-unit garden-style community, situated between Miami and Fort Lauderdale, includes one- and two-bedroom apartments across more than 50 buildings.
Broadtree Expands ATL Portfolio With $59M Buy
Stone Ridge at Vinings is a 440-unit community that includes a swimming pool, tennis court and dog park.
High Street, MetLife Break Ground in Phoenix
The partnership will construct a five-story 190-unit community that will include a coffee bar, interactive lounge space and gaming area.
Phoenix Community Sells for $15M
Weidner Apartment Homes sold the Murano Apartment Homes, located in the Arcadia neighborhood of Phoenix. Berkadia represented the firm in the transaction.