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.
MORAN & COMPANY ARRANGES SALE OF 580-UNIT APARTMENT PORTFOLIO FOR $107 MILLION IN LAKEWOOD, COLORADOJuly 5, 2017 • Moran & Company
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.