REBusinessOnline

Republic Urban Properties Sells Luxury Apartment Community in San Jose for $104M

SAN JOSE, CALIF. — Republic Urban Properties has sold Meridian at Midtown in San Jose for $104 million. The luxury apartment community includes 218 units and 14,000 square feet of ground-floor retail space. The property is situated at 1432 W. San Carlos St., less than one mile west of downtown and just north of I-280. The location is surrounded by restaurants and retail, as well as just a few blocks from a light rail station. Built in 2015, the mid-rise property offers amenities such as …

ESI Arranges $31.5M Sale of Two Skilled Nursing Facilities in New Jersey

RIDGEWOOD AND MONTCLAIR, N.J. — Evans Senior Investments (ESI) has arranged the sale of a two-property skilled nursing portfolio in New Jersey for $31.5 million. Totaling 161 beds, the two Van Dyk Health Care facilities are located in Ridgewood and Montclair, approximately 15 miles apart from each other and just west of Manhattan. ESI represented the seller, an independent owner-operator, in the transaction. The buyer was a New York-based private equity group, and a New Jersey-based operator …

HFF Arranges $90M Sale of New Multifamily Property in Northern Virginia

ARLINGTON, VA. — HFF has arranged the sale of 672 Flats, a newly completed multifamily community located in Arlington’s Ballston submarket. The Chevy Chase Land Co. acquired the property from a joint venture between The Penrose Group and Clark Enterprises for $90 million. Walter Coker and Brian Crivella of HFF represented the seller in the deal. The buyer purchased the property free and clear of existing debt. Jamie Leachman, Chris Hew and Nicole Brickhouse of HFF’s debt placement …

Hunt Provides $18.3M Fannie Mae Loan for Acquisition of Charlotte Multifamily Property

CHARLOTTE, N.C. — Hunt Real Estate Capital has provided a $18.3 million Fannie Mae multifamily loan for the purchase of Fields at Archdale Station, a multifamily property located at 6614 Wisteria Drive in Charlotte. The borrower, Roseland, N.J.-based Gellar Associates, acquired the property from Elite Street Capital Grand Oaks Equity LP. The new loan has a 12-year term. Built from 1968 to 1975, Fields at Archdale Station features 243 apartments spread across 26 three-story apartment …

Levin Johnston Negotiates Two Multifamily Sales in California Totaling $32.1M

REDWOOD CITY, CALIF. — Levin Johnston of Marcus and Millichap has negotiated the sales of two multifamily assets located in Redwood City. The combined sales price was $32.1 million. Adam Levin and Robert Johnston of Levin Johnston handled the transactions. In the first deal, a private equity investment firm sold 180 Flats, a 48-unit apartment community in Redwood City, for $21.7 million. Built in 1964, the property features studio, one- and two-bedroom apartments with open floor plans, …

Cortland Acquires 531-Unit Multifamily Community at The Battery Atlanta for $156M

ATLANTA — Cortland has acquired Home at The Battery Atlanta, a 531-unit multifamily community, from a joint venture between Braves Development Co. (BDC) and Pollack Shores for $156 million. Walker & Dunlop brokered the transaction. The three-building property — to be renamed Cortland at the Battery Atlanta — offers 328 one-bedroom units, 195 two-bedroom units and eight three-bedroom units. The apartments were 92 percent occupied at the time of sale. Each building offers a range …

AvalonBay Buys Apartment Community in Metro D.C. for $83M

LINTHICUM HEIGHTS, MD. — AvalonBay Communities has purchased Alexan Concorde, a multifamily property located at 811 Concorde Circle in Linthicum Heights, about 34 miles northeast of Washington, D.C. A joint venture between Trammell Crow Residential and an affiliate of Western & Southern Financial Group sold the asset for $83 million. Situated adjacent to Baltimore-Washington International Airport and less than one mile from the Baltimore-Washington Parkway, the property features 310 luxury …

Preiss Opens 425-Bed Student Housing Community Near East Carolina University

GREENVILLE, N.C. — The Preiss Co. has opened The Eastern on 10th, a 425-bed student housing community located near East Carolina University (ECU) at 2301 E. 10th St. in downtown Greenville. The ground-up, garden-style development offers studio, one-, two- and three-bedroom units with bed-to-bath parity. Shared amenities include a resort-style swimming pool, an outdoor lounge with cabanas, grilling and picnic stations, a 24-hour clubhouse and fitness center, private study rooms, a cybercafé, …

Berkadia Negotiates Sale of 144-Unit Multifamily Property in Metro Memphis

HORN LAKE, MISS. — Berkadia has arranged the sale of Mallard Creek Apartments, a multifamily community located at 7197 Mallard Creek Drive in Horn Lake, a Mississippi town situated 20 miles south of Memphis. Memphis-based WI Memphis acquired the property from North Kansas City, Mo.-based Maxus Realty Trust for an undisclosed price. Built in 1998, the property features 144 units in a mix of one-, two- and three-bedroom floorplans, all equipped with modern kitchens with white appliances, …

NorthMarq Capital Secures $38M Refinancing for Multifamily Community in New Jersey

CINNAMINSON, N.J. — NorthMarq Capital has secured a $38 million refinancing for Camelot at Cinnaminson, a 405-unit multifamily community in Cinnaminson. The property is located at 198 Camelot Court. NorthMarq arranged the financing for the borrower, Kaplan Cos. The lender was a life insurance company. The permanent, fixed-rate loan was structured with a fully amortizing, 30-year

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