Transactions: April 2021
April 5, 2021
A short list of recent major investment sales and financings from coast to coast.
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. |
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