Transactions: May 2021

A short list of recent major investment sales and financings from coast to coast.
Brooklyn Basin. Rendering courtesy of Newmark
Brooklyn Basin. Rendering courtesy of Newmark

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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. 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 May 2021 issue of MHN.