News

Weeks after pulling off the highest-priced multifamily sale in Chicago since 2023, a California investor has paid $89 million for a nearby tower in the Streeterville neighborhood.

San Francisco-based FPA Multifamily has purchased a 679-unit portfolio consisting of seven properties throughout the Twin Cities metro from Centerspace (NYSE: CSR), a Minot, North Dakota-based REIT.

Berkadia has completed the sale of 1901 South Charles, a two-property, LEED Gold-certified residential community consisting of 345 units and commercial space located in the South Baltimore section of Baltimore, Maryland.

The property consists of The Lofts (193 units at 1901 S. Charles St.; built in 2012) and The Flats (152 units at 2 E. Wells St.; built in 2015).

A CBRE team led by Simon Butler, Biria St. John, John McLaughlin, and Brian Bowler completed the $52.5-million sale of Residences at Brentwood, a 240-unit apartment community in North Providence, RI.

A CBRE team led by Simon Butler, Biria St. John, John McLaughlin and Brian Bowler closed the sale of The Gateway at Malden Center, a 203-unit, 100% market rate apartment community in Malden, MA, for $97 million.

JLL has brokered the sale of a 192-unit apartment complex in Danbury, located along the Connecticut-New York border.

CBRE has negotiated the sale of a 99-unit apartment building in Easton, located roughly midway between Boston and Providence.

JLL Capital Markets arranged the sale of ReNew Danbury, a 192-unit multifamily community in Danbury, CT.

FPA Multifamily has sold ReNew Danbury to Jones Street Investment Partners for an undisclosed sum. JLL represented FPA in the transaction.

FPA Multifamily has paid $121 million for a 693-unit multifamily portfolio in Connecticut.

Institutional Property Advisors (IPA) has arranged the sale of the Central & Southeast Connecticut Portfolio, which consists of four-properties totaling 693 units.

Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $121 million sale of a portfolio of four multifamily properties totaling 693 units in Connecticut.

Newmark announces the company arranged the $18.2 million sale of The Hills, a 52-unit multifamily property located at 850 Warwick Avenue in Thousand Oaks, California.

Suburban Chicago property bought out of distress in 2018 by Greg Fower’s San Francisco-based multifamily giant headed to investor landlord.

FPA Multifamily has purchased Cascade at Town Center, a 204-unit community in Eden Prairie, 18 miles southwest of Minneapolis.

JLL Capital Markets has brokered the sale of Cascade at Town Center, a 204-unit multifamily community in the Minneapolis suburb of Eden Prairie.

Rockwell Partners sold the 356-unit Huntington Apartments in Naperville, Illinois to FPA Multifamily for $68 million.

FPA Multifamily sold another property in its Chicago portfolio.

Cushman & Wakefield has arranged the sale of The Hub at Auburn, a 368-bed student housing community located at 626 Shug Jordan Parkway near the Auburn University campus in Alabama.

FPA Multifamily acquired the ground lease for the 535-unit apartment building at 6201 Hollywood Blvd. from DLJ Real Estate Capital Partners in a deal that valued the property at $191 million.

The large-scale Union Wharf apartment complex in Fells Point has traded to California-based investors for $79 million – a big drop in value from the last time it traded nine years ago.

San Francisco-based FPA Multifamily paid $221M to acquire a 696-unit, garden-style apartment community in Waltham in the Boston area’s largest multifamily sale this year.

CBRE represented the seller, an affiliate of Harbor Group International, a Norfolk, Virginia -based real estate investment firm. CBRE also procured the buyer, an affiliate of San Francisco-based Fowler Property Acquisition (FPA Multifamily). The buyer has renamed the community ReNew Waltham.

San Francisco-based FPA Multifamily early this month bought the 47-story Paragon apartment tower in the South Loop for $144 million, the biggest apartment deal in Chicago so far this year, according to CoStar.

A California investor has paid $144 million for a 500-unit apartment tower in Chicago's South Loop, completing the largest multifamily deal in the city of early 2024.

CIM Group has sold the high-rise Downtown apartment complex 888 at Grand Hope Park for $186M. The sale to Irvine-based FPA Multifamily closed March 5, according to public first reported by The Real Deal.

FPA Multifamily has been living up to its name the past few months after closing what is now a string of high-figure apartment complex acquisitions in Southern California.

FPA Multifamily has purchased a two-property apartment portfolio in Ventura County from a private multifamily investor for $153 million.

Institutional Property Advisors (IPA) has brokered the sale of a two-property, 409-unit portfolio in California's Ventura County. FPA Multifamily acquired the portfolio for $153 million.

Institutional Property Advisors (IPA) has arranged the sale of Atrium on James, a 300-unit community in the Seattle suburb of Kent. FPA Multifamily LLC purchased the asset from a Tenants in Common managed by Open House Westwood LLC for $60.5 million.

FPA Multifamily has acquired the 300-unit Atrium on James apartments near Seattle as the residential investor expands its footprint in the Puget Sound region.

WS Communities sold the three properties for a combined $76 million, according to property records filed with L.A. County.

FPA Multifamily, on behalf of its Core Plus Fund V, has acquired a two-property multifamily portfolio totaling 399 units in Thousand Oaks, a suburb west of Los Angeles. Decron Properties sold the assets for $171.2 million.

A local investor has bought three half-century-old apartment buildings in San Jose for $134.8 million. An affiliate of FPA Multifamily, based in San Francisco, bought the Sierrabrook Apartments at 1265 N. Capitol Avenue, the Casa Verde Apartments at 2050 McKee Road, and Pacific Terrace West at 496 Boynton Avenue.

JLL Capital Markets has brokered the sale of The Edge on Hovey, a 481-bed student housing community located adjacent to Illinois State University in Normal.

CBRE has arranged the sale of Gates at Carlson Center, a 435-unit apartment community in Minnetonka, a western suburb of Minneapolis.

As a multifamily real estate investment company investing in apartment buildings across the US, FPA Multifamily has placed importance on environmental, social and governance initiatives that provide a positive impact and increase asset values, says Managing Partner Greg Fowler.

As a multifamily real estate investment company investing in apartment buildings across the US, FPA Multifamily LLC believes it can leverage its operations, supply chain and business model to create a positive impact. The firm's Managing Partner, Greg Fowler, explains how ESG initiatives integrate with workplace culture, impact objectives and financial considerations.

Newmark has arranged the sale of Seminole Grand, a 1,557-bed student housing community located near the Florida State University campus in Tallahassee.

Cushman & Wakefield's Midwest multifamily team has arranged the sale of Oxford Hills in St. Louis for an undisclosed price.

FPA Multifamily has acquired Marina Shores Apartment Homes in Virginia Beach for $101.9 million. Cushman & Wakefield's Jorge Rosa and TJ Liberto partnered with NAI Global to represent the seller in the transaction.

San Francisco-based investment firm FPA Multifamily has acquired Valleybrook at Chadds Ford, a 352-unit multifamily property located about 30 miles southwest of Philadelphia, for $96.5 million.

Three San Jose apartment complexes encompassing 415 units have been acquired by Irvine-based FPA Multifamily in a deal totaling $135M.

Nitya Capital has acquired two student housing communities in Mississippi and North Carolina. The properties offer a total of 1,829 beds. In the first transaction, Nitya acquired an undisclosed property in Starkville, Mississippi, from FPA6 The Pointe.

CBRE has negotiated the $26.7 million sale of ReNew Tatnuck Square, a 120-unit apartment complex located in the Central Massachusetts city of Worcester.

A San Francisco investor has cashed out of a big apartment complex near O'Hare International Airport for a hefty gain less than three years after buying i, another sign of strength for the suburban multifamily market.

FPA Multifamily has completed the sale of ReNew Mills, an apartment property in Ontario. San Diego-based Interwest Capital Group acquired the asset for $45.6 million.

JLL Capital Markets has arranged the sale of a three-property student housing portfolio totaling 1,152 beds near Florida State University in Tallahassee. Stewart Hayes, Scott Clifton and Jack Goldberger of JLL represented the seller, FPA Multifamily, in the disposition of the properties to Ancient City Capital.

San Francisco-based FPA Multifamily has completed the disposition of The Social Fort Collins, a 68-unit student housing community in Fort Collins. A Denver-based private equity group acquired the property for $25.5 million, or $375,000 per unit.

FPA Multifamily has sold The Social Fort Collins, a 136-bed student-dedicated community in Fort Collins, Colo., near Colorado State University.

Rittenhouse Realty Advisors (RRA), a member of GREA, has arranged the $38.8 million sale of ULake, a 401-bed student housing community located near the University of South Florida, Tampa.

FPA Multifamily has sold ReNew, a 128-unit development in the Central Valley community of Visalia, Calif., for $30.65 million.

Salt Lake City-based Bridge Investment Group has acquired ReNew on Sunset, an apartment community located in Suisun City. FPA Multifamily sold the asset for $72 million, or $321,430 per unit.

Redwood Capital Group has acquired ReNew Eden Prairie, a 375-unit apartment complex located at 13905 Chestnut Drive in suburban Minneapolis.

FPA Multifamily has completed the disposition of an apartment property located at 13225 N. Fountain Hills Blvd. in Fountain Hills. A joint venture between Continental Realty Assets, a subsidiary of Denver-based Continental Realty Group, and Tokyo-based Nippon Steel Kowa Real Estate has acquired the asset for $58.2 million.

An overview of the Diversity, Equity and Inclusion Initiatives at Fowler Property Acquisitions.

Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of ReNew Riverside, a multifamily property in Riverside. FPA sold the asset to Interwest Capital Group for $35.3 million, or $276,171 per unit.

As part of our ESG education to both our residents and internal team, FPA recently invited Bonneville Environmental Foundation (BEF) to speak on carbon offsets. Curious as to what a carbon offset is and why we need it? Tune in to this intro on carbon offsets hosted by our friends at BEF.

Zevulon Capital, Inc. and FCP announce the acquisition of ReNew Parc Shores, a 520-unit apartment community at 3925 Satellite Blvd. in Duluth, Georgia.

Another GRESB reporting season has come to a close, and the results are in. In its second year of submission to GRESB, FPA Multifamily saw a 76% improvement in its score. View a recording of a panel of experts featuring Dan Winters from GRESB, Gopi Jayaswal from FPA Multifamily, and Sarah Jung and Andrea Shoaf from Goby to discuss the results.

Learn how FPA Multifamily, a leading multifamily organization, utilized the robust combination of utility bill automation software, ESG platform, and strategic consulting services offered by Conservice and Goby to streamline their utility data acquisition process, improve their GRESB performance, expand the scope of their ESG efforts and programs, and incorporate ESG dedication across their entire business.

Guardian Real Estate Services has sold Hidden Village, a 98-unit, garden-stule multi-housing community in West Linn, Ore., for $30.25 million.

Women's Equality Day was on August 26, 2021. The team hosted a panel of some of our women executives to talk influence, leadership, allyship, and more.

The Capella at Rancho del Oro has traded hands for $110 million, making it the highest priced apartment transaction on record in Oceanside, a city in San Diego County. Property West Residential acquired the property from FPA Multifamily.

San Francisco-based real estate firm Hamilton Zanze (HZ) has acquired the 204-unit 45Eighty Dunwoody Apartment Homes in Dunwoody, Georgia. HZ purchased the property from FPA Multifamily, LLC, who was represented by Cushman & Wakefield.

Greg Fowler's FPA Multifamily has acquired The Fairfield Apartments, a 263-home community located in Stamford, CT from Gary Broxmeyer's Fairfield Properties for $84 million, REW first reported.

Since the start of economic calamity initiated by COVID-19, the multifamily sector has been one of two that has shown some resiliency in the market, and institutional investors have been raising funds to prepare for acquisitions. San Francisco-based FPA Multifamily is one of those firms.

A San Francisco investment firm has acquired McClurg Court Center, a 1,061-unit apartment complex in Streeterville, the biggest local multifamily deal of the year in a quickly recovering downtown Chicago market.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced the sale of Capella at Rancho del Oro, a 284-unit multifamily asset in Oceanside, California. The property traded for $110 million, which equates to $387,324 per unit.

CGI+ Real Estate Investment Strategies, in partnership with a family office, has acquired a two-property, 712-unit multifamily portfolio in Atlanta from an FPA Multifamily affiliate in an off-market transaction for $144.75 million.

Hamilton Zanze has acquired the 204-unit 45Eighty Dunwoody Apartment Homes in Dunwoody, GA.

FPA Multifamily has sold Capella at Rancho del Oro, a 284-unit multifamily asset in Oceanside, Calif., for $101 million.

In what is believed to be the largest multifamily transaction in Atlanta in 2021, CGI+ Real Estate Strategies (CGI+), in partnership with a family office, has acquired a two-property, 712-unit multifamily portfolio in Atlanta, GA from an affiliate of FPA Multifamily in an off-market transaction for $144.75 million.

FPA Multifamily has sold a multifamily property in Sandy Springs, GA., to privately held multifamily real estate firm 29th Street Capital for $43.3 million.

The Los Angeles-based investment firm CGI Plus snagged a two-property portfolio in Atlanta as part of its plan to spend roughly $1 billion on apartments in the U.S. Southeast.

Congratulations! You have earned EPA's ENERGY STAR for 1910 on Water, located at 1910 N Water Street, Milwaukee, WI 53202, for label year 2020. This property's 1-100 ENERGY STAR Score is 100, meaning that it is more energy efficient than 100 percent of similar properties nationwide.

Move For Hunger is a national non-profit organization that has created a sustainable way to reduce food waste and fight hunger. We have mobilized the leaders of moving, relocation, and multi-family industries to provide their customers, clients, and residents with the opportunity to donate their food when they move.

Congratulations! You have earned EPA's ENERGY STAR for Arrive Skyline, located at 2001 South Hudson Ave., Boise, ID 83705, for label year 2020. This property's 1-100 ENERGY STAR Score is 94, meaning that it is more energy efficient than 94 percent of similar properties nationwide.

The Science Based Targets initiative champions science-based target setting as a powerful way of boosting companies' competitive advantage in the transition to the low-carbon economy. It is a collaboration between CDP, World Resources Institute (WRI), the World Wide Fund for Nature (WWF), and the United Nations Global Compact (UNGC).

CBRE has negotiated the $84.3 million sale of The Fairfield Apartments, a 263-unit multifamily community in the southern coastal Connecticut city of Stamford.

Real estate organizations recognize the strong business case for incorporating environmental, social, and governance (ESG) factors into their normal business operations with the increasing public focus on climate change and its impacts, new policies affecting building energy performance, and pressure from investors.

While some large buildings are largely empty in the near term, multifamily real estate is facing the opposite challenge: unprecedented continuous occupancy.

An apartment complex in Birmingham, Alabama, sold for nearly 43% more than the value it traded for just four years ago.

Stonepine Apartments has traded hands in Thousand Oaks. A private family trust sold the 108-unit garden-style multifamily property has sold for $33.4 million

PA Multifamily, a privately held real estate investment company that specializes in acquisition, development and asset management, has joined the Urban Land Institute's Greenprint Center for Building Performance (Greenprint).

Diversified real estate service firms continue to dominate management of commercial real estate properties. Find out which firms top the list.

New York-based Dalan Management has acquired the Vue Apartment Homes in San Bernardino for $37.4 million. It is a 197-unit property.

West Coast-based FPA Multifamily, LLC has established a beachhead in the greater Boston market with the $130-million purchase of the Fountainhead Apartments

Tower 16 Capital Partners, a San Diego-based investor, has acquired the District at Grand Terrace in Colton for $63 million in an off-market transaction from FPA Multifamily.

The portfolio is a collection of six properties that have both student and conventional housing in three different locations throughout the Fort Collins area.

CBRE has negotiated the sale of The Grammercy Apartment Homes, a multifamily property located at 9600 E. Girard Ave. in southeast Denver.

Following up on Raymond Capital Advisors' recent acquisition of the Sunset Station Apartments for just over $13 million on February 28th, another apartment property in the city of SeaTac has recently sold.

HFF has arranged the $92.5 million sale of Fifty Twenty-Five, a 942-bed student housing community located near San Diego State University.

San Francisco-based management and investment company FPA Multifamily sold the James Apartments in Lakewood for $18.05 million, or approximately $125,347 per unit, according to Pierce County records.

FPA Multifamily, LLC, sold Fifty Twenty-Five, a luxury student housing community serving San Diego State University, to Denver-based Cardinal Group Investments, LLC for $92.5 million.

The MIRO at Dash Point Apartments, a 386-unit multifamily garden-style property in Federal Way, WA, traded hands for $71.5 million.

FPA Multifamily LLC sold a pair of multifamily communities in Mission Viejo, Calif., and Federal Way, Wash., in separate transactions worth $76 million and $71.5 million, respectively.

Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of The Dylan Apartment Homes, a multifamily property located in Oceanside.

ReNew at the Shops, a 400-unit garden-style multifamily property in Mission Viejo, CA, has sold for $76 million.

Miro at Dash Point, at 31004 19th Place S.W. in Federal Way, has sold for just over $71.3 million, according to King County records.

Activity in the Puget Sound region's multifamily market shows no signs of slowing, and local and out-of-town investors alike are looking further afield to acquire in-demand assets.

San Francisco-based FPA Multifamily LLC has sold two metro Denver apartment communities for a total of $48.25M.

HFF has arranged the sale of Wheaton Center, a 758-unit, multi-building apartment complex in the west Chicago suburb of Wheaton, IL, to FPA Multifamily LLC. The purchase price was not disclosed; Crain's Chicago Business cited estimates of $135 million.

Holliday Fenoglio Fowler, L.P. (HFF) announces the $42.5 million sale of Stone Rise, a 216-unit, Class A multi-housing community in the Philadelphia suburb of Glenmoore, Pennsylvania.

A partnership between San Francisco-based FPA Multifamily LLC and Southern California-based Trinity Property Consultants has acquired a mixed-use development located at the intersection of Westheimer Road and Kirby Drive in Houston.

West Ave, a mixed-use project at the key intersection of Kirby and Westheimer in the Upper Kirby District of Houston, has been acquired by California-based FPA Multifamily.

San Francisco-based FPA Multifamily has acquired the upscale West Ave mixed-use project at the southwest corner of Kirby Drive and Westheimer and plans to renovate and rebrand the complex next year.

An affiliate of FPA Multifamily bought the AT Lewis Lofts and Rio Grande Lofts at 1531 and 1543 Stout Street in downtown Denver for $32.5 million.

FPA Multifamily has sold two apartment complexes to a Philadelphia investor for a combined total of just over $103.5 million. Chris Ross of HFF represented the seller. The entire deal was worth about $150,727 per unit.

Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of The Lex, a 332-unit, high-rise apartment property in Chicago's South Loop.

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.

FPA Multifamily LLC has acquired The Lex, a 332-unit high-rise apartment complex located within the McCormick Square entertainment district in Chicago's South Loop.

Lone Star Funds ended its hold on the 539-unit Eilan Luxury Residences, selling the San Antonio property to FPA Multifamily of San Francisco. The sales price was not disclosed, though was assessed at $102.6 million by the Bexar Appraisal District.

Los Angeles-based Gelt Inc. acquired a two-property apartment portfolio totaling 491 units for $74 million in two submarkets 25 minutes south of downtown Seattle. The properties include The Row, a 247-unit asset in Kent (pictured above), and The Union, a 244-unit property in Federal Way.

Two entities formed by Vancouver, Canada's Western Wealth Capital purchased Carlyle at South Mountain Townhomes & Apartments in Phoenix for $90 million.

Demmon Partners has acquired The Falls at Arden apartments in Sacramento for an undisclosed sum. The 272-unit community is located at 2345 Northrop Ave.

FPA Multifamily has acquired Barclay at Dunwoody, a 204-unit apartment community in Dunwoody, Ga., a suburb of Atlanta, for $29.3 million. The seller was a group of investors known as Barclay at Dunwoody LLC.

FPA Multifamily has acquired Barclay at Dunwoody, a 204-unit apartment community in Dunwoody, Ga., a suburb of Atlanta, for $29.3 million.

FPA Multifamily LLC sold the 180-unit The Social at South Florida student housing complex at 2919 Network Pl. in Lutz, FL to Vesper Holdings LLC for $26 million, or approximately $144,000 per unit.

Colliers International has brokered the sale of Solhaus and Solhaus Tower in Minneapolis for $27.4 million.

Cushman & Wakefield has arranged the sale of City Walk, an urban mixed-use development located in Downtown Atlanta. Completed in 2007, the midrise fronts famed Auburn Avenue at Piedmont Avenue, in the heart of Atlanta's urban renaissance area served by the new Atlanta Streetcar. Mike Kemether, Vice Chair of Cushman & Wakefield's Multifamily Advisory Group, along with Fain Hicks, Senior Director of Cushman & Wakefield's Retail Investment Sales team, represented the seller, Los Angeles-based CGI Strategies in the transaction. FPA Multifamily LLC acquired the 144-unit multifamily component, and an Atlanta-based private-partnership acquired the 28,000-square-foot retail portion of the property.

A San Francisco real estate investor continued its recent spending spree in the Chicago area with the purchase of a $40 million suburban apartment complex, adding to what will likely be a record year of sales for the asset class.

FPA Multifamily has acquired Barclay at Dunwoody, a 204-unit apartment community in Dunwoody, Ga., a suburb of Atlanta, for $29.3 million. The seller was a group of investors known as Barclay at Dunwoody LLC.

Cushman & Wakefield's Southeast Multifamily Advisory Group has arranged the $29.3 million sale of Barclay at Dunwoody, a 204-unit apartment community located in Dunwoody, Georgia. Mike Kemether, Josh Goldfarb and Travis Presnell of Cushman & Wakefield represented Barclay at Dunwoody, L.L.C., the seller, in the transaction. FPA Multifamily acquired the property.

Colliers International has arranged the sale of three student housing communities located in Statesboro, Georgia, and Tallahassee, Florida.

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.

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.

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.

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.

CBRE has completed the sale of Mirabella and 3800 Lux, two adjacent multifamily communities totaling 715-units. The buyer was Priderock Capital Management and the seller, FPA Multifamily,

FPA buys third complex in Twin Cities area.

FPA Multifamily ranked #39 on NMHC 50 Largest Apartment Owners list.

CBRE completed the sale of Mirabella and 3800 Lux, two adjacent multifamily communities totaling 715 units.

In what's being called a "gamechanger" for the Drag near the University of Texas campus, Target confirmed Thursday that it will open a smaller version of its department store next to the campus next year.

Gelt has purchased the 400-unit Westhills apartments in Lakewood for $66 million. The community is located at 453 Van Gordon St.

Colliers International has arranged the $24 million sale of University Lake Apartments, a 401-bed community located near the University of South Florida campus in Tampa.

HFF recently announced the successful marketing and sale of a Lake Oswego residential community.

Interstate Equities Corp. has a new asset in its portfolio: A 137-unit apartment complex in Milpitas. The fund manager just paid $46 million, or about $336,000 per door, for the project, formerly called Meritage Apartments. IEC's new name is "555 Apartments," which is a reference to the address at 555 S. Park Victoria Drive.

CBRE has finalized the sale of Lakeside Village apartment community in Atlanta, Ga. CBRE's Shea Campbell and Kevin Geiger of the Southeast Multifamily Group led the sale on behalf of Arenda Capital Management LLC, a private investment firm based on Los Angeles, Calif.

Marcus & Millichap (NYSE:MMI) today announced its Institutional Property Advisors (IPA) division has arranged the sale of Montage Apartments, a 636-unit garden-style multifamily community located in Citrus Heights, California. The $74 million sales price equates to more than $116,000 per unit.

Hotel Metro, located at 434-435 13th St. in the submarket of East Village, has sold for a total consideration of $6.1 million. The seller was San Diego Housing Commission (SDHC), a public housing agency that creates and preserves affordable housing in San Diego. The buyer was Fowler Property Acquisitions LLC, based in Newport Beach, Calif.

Gelt Inc. has paid $45.5 million, or $196,121/unit, for the 232-unit Monterra Ridge apartments in Santa Clarita, Calif., about 35 miles northwest of Los Angeles. The seller was FPA Multifamily of San Francisco. Marcus & Millichap brokered the transaction.

Toronto-headquartered Sutter Hill Acquisition Corp. has bought the District at Vinings in Atlanta's Buckhead submarket.

New Standard Equities has purchased The Venue, a 284-unit apartment complex in Renton, for $41.5 million. The community is located at 4455 N.E. 12th St.

CBRE's Capital Markets team announced the sale of The Domain at Holcomb Bridge, a 420-unit apartment community in Peachtree Corners, Ga. CBRE's Shea Campbell and Kevin Geiger of the Southeast Multifamily Group exclusively represented the seller, FPA Multifamily.

A Tempe apartment complex has been sold for $25.1 million. The Nines Apartments is a 244-unit complex located at Baseline and Rural roads in Tempe.

Record renter demand continues to fuel apartment industry growth, as revealed in the National Multifamily Housing Council's (NMHC) newly released 2016 NMHC 50, the authoritative ranking of the country's largest apartment owners, managers, developers and contractors.

San Francisco-based Fowler Property Acquisitions has acquired two multifamily communities in Denver's Bear Valley Multifamily submarket from Asher Investments Group in two separate transactions for a total purchase price of $64.25 million, or approximately $137,000 per unit.

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.

Last Wednesday, King County recorded a deed that showed a San Francisco company paid $46 million for a big Federal Way apartment complex. Two days later, the county recorded a second deal showing that the same investor, Fowler Property Acquisitions (FPA), bought a larger complex 15 miles to the north in Burien for nearly $51.5 million.

Fowler Property Acquisitions has purchased the 388-unit Landing at Dashpoint apartment community in the Seattle submarket of Federal Way for $46 million. The community is located at 31004 19th Place SW.

A San Francisco company is the latest apartment investor to make a big bet on suburban Seattle. Trinity Property Consultants, an affiliate of Fowler Property Acquisitions (FPA) Multifamily of San Francisco, paid $46 million for the Landing at Dash Point, a 387-unit apartment complex in Federal Way.

Fifty Twenty-Five, a student housing property in San Diego, has come under new ownership, and HFF played no small part in the deal. The provider of commercial real estate and capital markets services facilitated the sale of the premier 942-bed asset to FPA Multi-Family L.L.C. in a $69.5 million transaction.

FPA MultiFamily LLC has purchased Fifty Twenty-Five, a 260-unit, 942-bed Class A luxury student housing community serving San Diego State University, for $69.5 million.

California-based Fowler Property Acquisitions was the buyer in Edmond's largest multifamily deal this year.

FPA MultiFamily LLC, of San Francisco has agreed to pay $69.5 million for Fifty Twenty-Five, a 260-unit, 942-bed, class A luxury student housing community serving San Diego State University. Holliday Fenoglio Fowler, (HFF) which marketed for an undisclosed seller announced the sale on Thursday.

Two significant commercial real estate deals were recently completed in San Diego's College Area, including the $69.5 million acquisition of a 263-unit student housing community by an affiliate of San Francisco-based Fowler Property Acquisitions LLC.

TruAmerica Multifamily, with the backing of its institutional equity investors including Allstate and The Guardian Life Insurance Company of America acquired five apartment properties in the Pacific Northwest.

The Apartment Co. of Encinitas has purchased the 100-unit Oceana Apartment Homes in Oceanside for $18.2 million, according to Institutional Property Advisors (IPA), a division of brokerage company Marcus & Millichap. The seller of the property, at 180 Canyon Drive, was San Francisco-based Fowler Property Acquisitions LLC.

Oceana Apartment Homes, a 100-unit apartment complex in Oceanside, was recently purchased by The Apartment Company for $18.2 million. Fowler Property Acquisitions sold the property.

CBRE has completed the sale of most of the units in the historic El Cortez condominium complex in midtown Phoenix. The sale included 146 of the 165 units in the complex for a sale price of $6.4 million.

San Francisco-based FPA Multifamily LLC has bought up most of the units at the historic El Cortez condominum complex in Phoenix for $6.4 million. The El Cortez is located in Phoenix's Melrose Distrct near Seventh Avenue and Osborn Road. It was built in 1964 by longtime television personality Art Linkletter.

Adding to the record pace of apartment sales in the metro region, a California investment firm has purchased an 82-unit community in Lake Oswego for $15.5 million.

ABI Multifamily, a dedicated multifamily brokerage and advisory services firm, is pleased to announce the $10,750,000 sale of the 138-Unit, Paradise North Apartments located on 40th Street, just North of Bell Road in the Northeast Phoenix/North Paradise Valley submarket.

The iconic Dobie Center has a prosperous future ahead of it. Forty-three years after opening, Dobie Center has a promising future ahead. San Francisco-based Fowler Property Acquisitions recently acquired the 27-story high-rise near the University of Texas campus and plans to rebrand it Dobie 2021.