10.13.2011
Downtown Denver’s Solera Apartments Sold for $37 Million
Denver, CO (October 13, 2011) – Zocalo Community Development, in partnership with Principal Real Estate Investors, has agreed to sell Solera, its high-rise downtown apartment project to The Connell Company of Berkeley Heights, New Jersey for $37 million. The building features 120 units and 5,200-square feet of retail space. The sale, which was finalized Thursday, represents a record price per unit and record price per square foot for the state of Colorado. David Martin and Pamela Koster of Moran and Company represented the seller in the sale. 09.13.2011
Moran & Company Opens New Houston Office
CHICAGO (September 13, 2011) – Chicago-based Moran & Company, a real estate services firm specializing in the sale and recapitalization of multifamily communities throughout the United States, announced today the expansion of its Southwest Region with the addition of a Houston office. Jeffrey Skipworth of Moran and Company’s Dallas office will be promoted to Houston Director and will open the office. Chairman Thomas F. Moran, President Mary Ann King, and Southwest Region Managing Partner, Paul Harris made the announcements. 12.17.2010
250-Unit Anavia in Anaheim, CA Sells
Anaheim, Calif. – Palo Alto, Calif.-based Essex Property Trust has acquired Anavia, a recently completed, 250-unit luxury rental property from a wholly-owned subsidiary of KB Home. 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 price was $80,600,000 and closed on December 16, 2010. 12.01.2010
402-Unit Crystal View in Garden Grove, CA Sells
Garden Grove, Calif. – MG Properties Group has purchased Crystal View, a 402-unit apartment community in Garden Grove, from an institutional seller for $52.5 million. Moran & Company was the exclusive listing agent with Mike Murphy, a Director in Moran & Company’s California office, and Mary Ann King, president of Moran & Company, representing the seller in the transaction. The sale closed on December 1, 2010. 10.11.2010
Apartment Specialist Moran & Company Expands in Phoenix – Matthew Clark Bolsters Team
PHOENIX, AZ – Chicago-based Moran & Company, a full service real estate firm specializing in the sale of quality apartment communities throughout the United States, has hired Matthew Clark as Director in the firm’s Mountain States region. Thomas F. Moran, chairman, and Mary Ann King, president of Moran & Company, made the announcement. 09.22.2010
$55.55mm, 2008 vintage asset in Broomfield, CO sells to AMLI
BROOMFIELD, CO – In the largest single-asset multifamily sale in Colorado thus far in 2010, AMLI Residential, a Chicago-based owner, developer and manager of luxury apartment communities, has purchased Alexan Arista, a Class A, 358-unit --- apartment community in Broomfield, Colorado from Dallas-based Trammell Crow Residential for $55,550,000. Moran & Company was the exclusive listing agent with partners, David Martin and Pamela Koster of Moran & Company’s Mountain States office representing the seller. 09.16.2010
583-Unit Marina Pointe in Marina del Rey, CA Sells
Marina del Rey, Calif. – UDR has purchased Marina Pointe, a four-story, 583-unit multifamily community that was built in 1993 for $157.5 million. In contrast to many of the properties in Marina del Rey, Marina Pointe is not on a ground lease. Brett Betzler, a broker in Moran & Company’s California office, and Mary Ann King, president of Moran & Company, represented the seller in the transaction. The sale closed on September 14, 2010. 08.16.2010
163-Unit Acappella at the Crossing in San Bruno, CA Sells
San Bruno, Calif. – San Francisco, Calif.-based MacFarlane Partners and SNK Realty have sold Acappella at the Crossing, a newly-completed, four-story, 163-unit multifamily community to Behringer Harvard. Brett Betzler, a broker in Moran & Company’s California office, and Mary Ann King, president of Moran & Company, represented Behringer Harvard in the transaction. The sale closed on August 4, 2010. 07.15.2010
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.