Northmarq Closes Sale of Mixed-Use in Mission Hills
Northmarq’s San Diego Multifamily Investment Sales team of Tyler Sinks, Ed Rosen and John Chu brokered the $12.75-million sale of The Charmer, an urban, mixed-use community located in the Mission Hills neighborhood of San Diego. Northmarq represented the seller, Charmer LLC. The buyer was Monro Capital Real Estate Fund.
“The sale of The Charmer represents the strong demand for well-located core assets that provide attractive risk-adjusted returns,” said Sinks. “The Charmer is a trophy asset and received a lot of interest from investors looking for an attractive long-term investment.”
Built in 2011 and located at 1737 Chalmers St., The Charmer includes 19 luxury apartment homes, two live-work lofts and three commercial units developed by one of San Diego’s most renowned architects, Jonathan Segal. It offers loft-style floor plans with outdoor space, including private patios and gardens.
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Lincoln, McCourt Launch 344-Unit Culver City Mixed-Use
Lincoln Property Company and McCourt Partners have broken ground for ElevenOneEleven, a new mixed-use development in Culver City. The groundbreaking occurred three weeks after Lincoln and McCourt announced $133 million in construction financing from Bank OZK. Set to rise on a vacant parcel, ElevenOneEleven will deliver 344 rental apartments, including 52 affordable units, along with 2,000 square...
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Logisco Launches $60M Quebec Rental Project With New Brand
Logisco is stripping back the amenity race with a $60M Quebec City apartment development aimed at renters who would rather pay less each month than fund pools, gyms and other extras. The developer has started construction on 193 apartments at 7075 Wilfrid-Hamel Blvd., the first project under its new Elie rental brand. The 10-storey building...
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Virtus Buys Hamilton Retirement Residence For $26M
Virtus Diversified REIT has purchased a 91-suite retirement residence in Hamilton for $26M, expanding its seniors housing portfolio. The acquisition of Abington Court Retirement Residence at 1500 Main St. E. closed Nov. 3. The independent living property opened in 2005 and added 20 suites in a 2018 expansion. Located west of the Red Hill Valley...
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout