Transactions: May 2021
A short list of recent major investment sales and financings from coast to coast.
Brooklyn Basin. Rendering courtesy of Newmark
SALES
| Property | Location | No. of Units | Buyer | Seller | Notes/Rep. | Value | Date Announced |
| North Star Portfolio | Nationwide | 14,414 | Morgan Properties, The Olayan Group | STAR Real Estate Ventures | – | $1.8 Billion | 17-Feb. |
| Jefferson Platinum Triangle | Anaheim, Calif. | 400 | Waterford Property Co., California Statewide Communities Development Authority | JPI | NorthMarq brokered the sale. | $160 Million | 26-Feb. |
| Seabourn Cove | Boynton Beach, Fla. | 456 | Dermot Co. | Heitman | TIAA provided financing. | $143 Million | 16-Feb. |
| Almeria at Ocotillo | Chandler, Ariz. | 389 | Sentinel Real Estate | PASSCO Real Estate | – | $129.3 Million | 19-Mar. |
| Montreux | Phoenix | 335 | Pacific Development Partners | Statesman Group | IPA represented the seller. | $117 Million | 8-Mar. |
| Lumina at Spanish Springs | Sparks, Nev. | 330 | Northland Investment Corp. | Sunroad Enterprises | – | $100 Million | 17-Feb. |
FINANCING
| Property | Location | Type of Financing | No. of Units | Lender | Arranged by | Borrower / Notes | Amount | Date Announced |
| Modera Hollywood | Los Angeles | Refinancing | 248 | Brookfield Asset Management | – | Mill Creek Residential Trust | $131.3 Million | 18-Feb. |
| West Village + Office and Retail Space | Durham, N.C. | Refinancing | 609 | Blackstone Group | Newmark arranged the financing. | The Connor Group | $184 Million | 26-Feb. |
| Brooklyn Basin Parcel E | Oakland, Calif. | Construction | 196 | Bank OZK | Newmark arranged the financing. | Signature Development | $130 Million | 2-Mar. |
| The Opal | Flushing, N.Y. | Refinancing | 388 | Signature Bank | – | A&E Real Estate Holdings | $110 Million | 4-Mar. |
| Stoneridge | Walnut Creek, Calif. | Bond | 209 | California Statewide Communities Development Authority | – | HCF Development | $97.3 Million | 24-Feb. |
| Gables Rock Springs | Atlanta | Refinancing | 558 | Landesbank Baden-Wuerttemberg | – | Jamestown | $87.9 Million | 1-Mar. |
To have your transaction featured, submit details to Jeffrey.Hamann@cpe-mhn.com.
