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.
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.
FPA Multifamily sold two Denver-area residential communities for a total of $48.25 million.
The Olso, located at 11501 Washington St. in Northglenn, sold for $26.75 million. The buyer was Littleton-based Skyline Real Estate Investments, who purchased the property with a joint-venture equity partner.
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.
Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of The Lex, a 332-unit, high-rise apartment property in Chicago’s South Loop.
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.
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.