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



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.


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.

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Read the May 2021 issue of MHN.