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On the Market: 5 Interesting Listings for the Week of 5/22
This week’s listings range from a townhouse in trendy North Hollywood, Calif., to a student housing asset located near the University of Alabama, the largest university in the state.
North Dallas 152-Unit Community Changes Hands
A Dallas-based partnership acquired Sienna Creek from Madera Residential. The buyer plans to rebrand the property and to implement a value-add strategy. The community is situated within the Richardson Independent School District.
Avesta Nabs Orlando Portfolio for $32M
As part of the firm’s strategy, Avesta has commenced a $5 million renovation program to modernize the interior units and upgrade the exterior aesthetics of its latest acquisition.
Denver Community Sells for $31M
ARA Newmark represented Nichols Partnership in the sale of Turntable Studios. Built in 1967, the building was renovated and converted to multifamily in 2015.
HFF Closes Recap of NC Community, Arranges New JV Equity
The Dickson family will co-own Solis Ninth Street with Blue Heron Asset Management LLC. Terwilliger Pappas Multifamily Partners sold its stake in the 229-unit property.
Baltimore Community Sells for $31M
The 390-unit Marble Hall Gardens previously changed hands in 2007, when Tryko Partners acquired the Class C asset from Lightstone Group for $13.2 million.
Marcus & Millichap Leads San Diego County Community Sale
A family trust sold Villa Quixote, a 78-unit apartment community in Escondido, Calif., for $11.8 million. The community was built in 1969, presenting the buyer with an opportunity to renovate the property and raise rents.
Silvershore Properties’ Queens Community Up for Grabs
Jason Silverstein and David Shorenstein’s firm has selected a team from Greysteel to market the sale of a 20-unit apartment building located in Queens’ Elmhurst neighborhood.
Carrier Johnson + CULTURE LA Project Begins Construction
The 161-unit apartment community will replace an empty 81-year-old two-story building with a modern design that utilizes metal panels and ceramic tile.
HFF Tapped to Market Pennsylvania Residential Asset
The company is representing the seller, a joint venture between CenterSquare Investment Management and Korman Residential, which acquired the asset back in 2007 for $30 million.