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. 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.

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Read the May 2021 issue of MHN.