News
45-Unit Garden Apartment Property Trades in LA’s Palms Neighborhood
Northmarq’s Los Angeles Investment Sales team of Mike Hanassab, Steven Goldstein and Elliot Hassan arranged the $13.125-million sale of 3717 Cardiff Ave., a 45-unit garden apartment community located in the Palms neighborhood of Los Angeles, near Culver City. Northmarq represented the seller, a family that had owned the property since the mid-1970s, and the buyer, a local private investor. “Cardiff represented...
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Denver Apartment Venture Trades at Steep Loss
The Civic Lofts apartments in the Golden Triangle area sold at a steep discount. The $30 million sales price was less than half what Centerspace Homes paid for the property in 2021. It traded at $63 million then. FPM Partners was the buyer. FPM has holdings in Broomfield and Fort Collins. Centerspace meanwhile holds four...
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Priority Capital Advisory Closes $11M to Recapitalize Madison Hotel-to-MF Conversion
Zachary Streit, Founder and President of Priority Capital Advisory, announced the closing of an $11.5 million senior loan on behalf of REALM and OTR Real Estate for the recapitalization of Vivo Madison, a 153-unit multifamily property located at 517 Grand Canyon Drive in Madison, Wisconsin. The joint venture acquired the property, which was a Radisson...
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KLNB, HREC Secure $35M Multifamily Conversion Sale of DC Hotel
KLNB, in collaboration with HREC Investment Advisors, has brokered the $35 million sale of Arlington Court Suites, a 187-unit hotel located at 1200 N Courthouse Road in Arlington, Virginia. The property is slated for a conversion into a 180-unit multifamily rental asset. The KLNB Multifamily Capital Markets team of Principal Rawles Wilcox, Senior Vice President Justin Shay, and Vice President Dutch...
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Trademark Opens The Vickery in Ft. Worth
The Vickery multifamily development at 700 W. Vickery Blvd. is now completed and open for tenants in Fort Worth. It features 321 residences — 307 apartments and 14 townhomes — in one-, two-, and three-bedroom layouts. The Vickery is from Trademark Property Co., developers of the 5-acre site at West Vickery Boulevard and Hemphill Street. ...
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Kinect Real Estate Partners Closes $127M Fund for MF Projects
Kinect Real Estate Partners, a Bellevue investment firm linked to multifamily developer American Capital Group, announced the $126.5 million close of Kinect Opportunity Fund II, the firm’s second GP fund, exceeding its $100 million target. The fund will focus on development and value-add opportunities in multifamily assets, with a development pipeline totaling approximately $1.6 billion...
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Sun Life Completes US$350M Acquisition of Bell Partners
Sun Life has completed its acquisition of Bell Partners for US$350 million in cash and stock, the buyer announced. The deal is part of a previously announced series of multi-billion-dollar commercial real estate moves that impact businesses and properties on both sides of the Canada-U.S. border. Toronto-based Sun Life paid 80% of the purchase price...
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Ryan Cos. Building Tampa-Area Apartment, Retail Project
A new mixed-use development is bringing hundreds of residential units and thousands of square feet of commercial space to a fast-growing suburban area in Wesley Chapel in Pasco County. The Tampa Bay Business Journal reports that Pomelo Square will have 325 apartments, 90 townhomes, over 42,000 square feet of retail space and a hotel. Ryan...
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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