Colliers International has arranged the sale of three student housing communities located in Statesboro, Georgia, and Tallahassee, Florida.
Major diversified real estate firms led our 2017 Top 50 Property Management Firms ranking, as Colliers International, Cushman & Wakefield, CBRE Group and JLL took the top spots.
CGI Strategies has sold City Walk, a mixed-use development in Atlanta’s Sweet Auburn Avenue Historic District, to two separate investors. Located at 171 Auburn Ave. NE and covering an entire city block, the six-story City Walk features 144 one- and two-bedroom apartment units and over 30,500 square feet of street-level retail.
San Francisco-based FPA Multifamily acquired River Glenn, a 300-unit value-add asset in Fort Collins, CO for $47.5-million. ARA Newmark’s Terrance Hunt, Shane Ozment, Doug Andrews and Jeff Hawks represented Ocwen Loan Servicing, LLC, the asset manager for the unnamed seller. Read More
A San Francisco investment firm paid $48 million for most of a failed South Loop condominium project, and it’s not stopping there.
San Francisco-based FPA Multifamily sold off another apartment asset, this time in Everett, for $16.8 million or $180,645 per unit. FPA sold the building to The Stinson Associates LLC out of Belmont, CA in a deal that closed June 9th.
Gelt Inc. has acquired a 580-unit apartment portfolio in Lakewood, a western suburb of Denver, for $107 million. The two-property portfolio includes Ascend at Red Rocks and Elevate at Red Rocks.
Marking the firm’s largest property acquisition to date, Gelt Inc., a Los Angeles-based real estate investment and asset management firm, has acquired a two-asset, 580-unit apartment portfolio for $107 million. Located in Lakewood, CO, a thriving suburban market approximately eight miles west of downtown Denver, the adjacent properties include Ascend at Red Rocks, a 408-unit property, and Elevate at Red Rocks a 172-unit property.
Investment Property Group just closed the 97-unit, Las Ventanas multifamily property in the city of Vista, with a sale price of $17.5 million. This marks the Irvine-based firm’s second large out of area closing.
An unnamed buyer has acquired the 140-unit Las Palmas apartments in the San Diego submarket of Vista for $20.9 million. The community is located at 300 W. Los Angeles Drive.