240-Unit Summit at Hilltop in Richmond, CA Sells
Richmond, Calif. – Prime Group Residential has purchased the 240-unit Summit at Hilltop in Richmond, CA for $17.5 million. Brett Betzler, a broker with Moran & Company, and Mary Ann King, president of Moran & Company, represented the buyer in the transaction. The sale closed on July 14, 2010. 04.29.2010
The Gardens at Wilshire Center
Los Angeles, Calif. – Corona, Calif.-based Watermarke Properties has acquired The Gardens at Wilshire Center, a recently completed, 159-unit, mixed-use apartment community in the Wilshire Center/Koreatown neighborhood of Los Angeles, for $48 million, or $301,887 per unit, from a joint venture between Burbank, Calif.-based Chandler Partners and Denver-based Amstar Group, LLC. The sale was brokered by the Irvine office of Chicago-based Moran & Company. Mary Ann King, president, and Tom Moran Jr., a director, brokered the transaction. The sale closed on April 27, 2010. 12.15.2009
The Metro Makes a Mark with $55 M Sale
DENVER – CB Richard Ellis Investors LLC purchased The Metro, a Class A, 415-unit urban apartment community in Denver from RREEF for $55 million, making this the largest multifamily investment sale in Colorado during 2009. Moran & Company was the exclusive listing agent with partners, David Martin and Pamela Koster of Moran & Company’s Mountain States office representing the seller. 12.15.2009
Summitt Ridge, a 360 Unit Multifamily Community near the Denver Technology Center, Sells for $22.7 Million
DENVER – Trilogy Real Estate Group, LLC a Chicago-based real estate investment firm, has purchased Summitt Ridge, a 360 unit apartment community located adjacent to the Denver Technological Center (DTC). Moran & Company was the exclusive listing agent with partners, Pamela Koster and David Martin of Moran & Company’s Mountain States office representing the seller, UBS Realty Investors, LLC. 10.20.2009
Moran & Company Brokers the Sale of Brook Run Apartments
ARLINGTON HEIGHTS, Illinois - The Chicago office of Moran & Company, led by Tom Moran and Peter Evans, represented Denver-based Apartment Investment and Management Company (AIMCO) in the sale of Brook Run Apartments to Chicago-based Draper and Kramer, Incorporated. Built in 1985, Brook Run Apartments is a 182-unit garden-style apartment community located in Arlington Heights, Illinois, a suburb approximately 25 miles northwest of downtown Chicago. The transaction closed on October 20, 2009. 09.24.2009
Madison at Cedar Springs – 380 Units in Uptown Dallas Acquired by M & A Real Estate
DALLAS, Texas - Madison at Cedar Springs (“Madison”), a 380-unit community has been acquired by M & A Real Estate. Brokering the sale on behalf of Equity Residential was Moran and Company’s Southwest Regional office. Of six recent sales in the Uptown submarket, this is the fifth exclusive listing and sale completed by Moran and Company. Paul Harris, Managing Partner, and Directors, Thad Wetterau and Greg Smith represented the seller. 09.22.2009
140-Unit Redwood Lofts in Marina del Rey Sells
Marina del Rey, Calif. – Irvine, Calif.-based Standard Pacific Homes has sold Redwood Lofts, a newly-completed, four-story, 140-unit multifamily community in the Del Rey Loft District of Marina del Rey, Calif., to Behringer Harvard through a strategic alliance with Phoenix-based Alliance Residential for an undisclosed amount in a deal brokered by the California office of Moran & Company. Mary Ann King, president, and Brett Betzler, a director, brokered the transaction. The sale closed on September 22, 2009. 09.03.2009
Ridgeway Apartments, a 225-Unit Multifamily Community on a ground lease in Marin City sells for $28.5 Million
MARIN CITY, Calif. - Sacramento, Calif.-based St. Anton Partners, an affordable housing developer, has purchased a 225-unit apartment community in Marin City, Calif., from Gateway Apartment Partners L.P., an affiliate of TMG Partners of San Francisco, Calif., for $28.5 million. Chicago-based Moran & Company was the exclusive listing agent with Mary Ann King, president, and Brett Betzler, director, of Moran & Company’s West Coast office, representing the seller.
Formed in 1971 as an apartment investment firm, Moran and Company has evolved into a premier, multifamily transaction services firm that provides leadership in complex transactions at every point in the investment cycle.... from peak to trough. We focus all of our energies on the multifamily asset class and on mixed-use properties with significant residential components.
Combining our own resources with the resources of our affiliated companies, Moran & Company provides its clients with a broad range of multifamily services including asset sales and recapitalizations, as well as property and asset management, development services, assistance with loan workouts, and other capital markets and advisory services. Since 1994, Moran & Company has handled the sale or recapitalization of over 87,000 apartments, representing $11 billion in value.
With regional offices in California (Irvine), the Pacific Northwest (Seattle), the Southwest (Dallas), the Mountain States (Denver), the Midwest (Chicago), and the East Coast (Washington DC), Moran & Company provides national coverage, as well as local expertise, in virtually all of the major investment markets. Clients rely on Moran & Company for the breadth of our experience, the effectiveness of our customized execution strategies, and the sophistication and professionalism of our representation.
