Transactions: April 2021

A short list of recent major investment sales and financings from coast to coast.
Ventana Residences. Rendering courtesy of Presidio Bay Ventures

READ THE DIGEST

SALES

Property Location No. of Units Buyer Seller Notes/Rep. Value Date Announced
Lands End Manhattan 489 Related Cos. L+M Development Partners, CIM Group Cushman & Wakefield brokered the transaction. $424 Million 12-Jan.
Crystal House Arlington, Va. 825 Washington Housing Conservancy Mack-Cali Realty $376.6 Million 6-Jan.
Hyde Square Bellevue, Wash. 618 DWS Carmel Partners Berkadia represented the buyer. $279.1 Million 20-Jan.
Heritage at Deer Valley Phoenix 832 Millburn & Co. Priderock Capital Partners CBRE represented the seller. $178.5 Million 5-Feb.
Midtown 5 Miami 400 Sterling American Property Magellan Development Group $154.4 Million 5-Jan.
Ten01 on the Lake Tempe, Ariz. 523 Oxford Properties Group PGIM Real Estate CBRE brokered the transaction. $146 Million 27-Jan.

FINANCING

Property Location Type of Financing No. of Units Lender Arranged by Borrower / Notes Amount Date Announced
Union Square D2 Block Somerville, Mass. Construction 450 Bank OZK Union Square Station Associates, Magellan Development, USAA Real Estate Co. $120 Million 7-Jan.
Ventana Residences San Francisco Construction 193 AFL-CIO Housing Investment Trust Presidio Bay Ventures $120 Million 27-Jan.
The Rise Hollywood Los Angeles Construction 369 Square Mile Capital Management Encore Capital Management, Cal-Coast Development $110.4 Million 1-Feb.
Andante Phoenix Acquisition 576 Fannie Mae CBRE Capital Markets MG Properties Group $99.5 Million 7-Jan.
Normandie Court Manhattan Refinance 1,477 JPMorgan Chase Ogden Cap Properties $125 Million 5-Jan.
Polyclinic Manhattan Refinance 151 HUD Walker & Dunlop NYC Housing Partnership, Housing on Merit $93.9 Million 12-Jan.

To have your transaction featured, submit details to Jeffrey.Hamann@cpe-mhn.com.

Read the April 2021 issue of MHN.