REBusinessOnline

Arbor Provides $16M Refinancing for Manufactured Housing Community in Kansas City

KANSAS CITY, MO. — Arbor Realty Trust Inc. has provided a $16 million Freddie Mac loan for the refinancing of Lakeview Terrace in Kansas City. The 541-unit manufactured housing community is located just north of the Missouri River. Built in 1970, the community features newly renovated mobile homes in addition to a clubhouse, basketball court, playground and two swimming pools. Jason Scott of Arbor originated the 10-year loan. The undisclosed borrower acquired the property in

ORIX Provides $28M Construction Loan for 236-Bed Student Housing Property in Austin

AUSTIN, TEXAS — ORIX Real Estate Americas, a division of Dallas-based financial services firm ORIX Corp. USA, has provided a $28 million loan for the construction of a student housing community in Austin. The property will serve the University of Texas at Austin and total 236 beds across 66 units. Amenities will include a fitness center, rooftop deck, cyber lounge and conference rooms. Construction of the property began in April, with completion expected in time for the 2019-2020 school year. …

LMI Capital Closes Three Acquisition Loans Totaling $24M in Houston Area

HOUSTON AND PASADENA, TEXAS — LMI Capital has closed three loans totaling roughly $24 million for the acquisitions of two multifamily complexes and one retail center in the Houston area. The undisclosed properties include a 215-unit apartment complex in northwest Houston, a 200-unit apartment property in the southeastern suburb of Pasadena and a 21,000-square-foot retail center in west Houston. Jamie Mullin, Brandon Brown and Jamie Safier of LMI Capital closed the deals for the first, second …

Newmark Arranges $22M Bridge Loan for Apartment Community in Metro Dallas

WAXAHACHIE, TEXAS — Newmark has arranged a $22 million bridge loan for Hunter’s Cove, a 192-unit multifamily community in Waxahachie, a southern suburb of Dallas. The property offers a mix of one-, two- and three-bedroom units and amenities such as a pool, fitness center, dog park and outdoor kitchen area. Andy Bratt and Spencer Seibring of Newmark secured the two-year loan, which features an 80 percent loan-to-purchase-price ratio, through Greystone. The borrower was not

Berkadia Negotiates $32.5M Sale, $28M Financing for Affordable Housing Community Near Atlanta

CLARKSTON, GA. — Berkadia has arranged the $32.5 million sale of Lakes at Indian Creek, a 603-unit affordable housing community in Clarkston, located roughly 18 miles northeast of Atlanta. Jeremiah Jarmin and Judy MacManus of Berkadia arranged the transaction on behalf of the seller, Alden Torch Financial. In addition, Josh Finley of Berkadia arranged a 10-year, $28 million Fannie Mae loan on behalf of the buyer, EB Real Estate Group. Lakes at Indian Creek is an affordable housing community …

HFF Secures $30.4M Refinancing for Student Housing Property Near University of Georgia

ATHENS, GA. — HFF has arranged a $30.4 million loan for the refinancing of River Club Apartments and River Club Townhomes, two student housing assets located roughly two miles from the University of Georgia (UGA) campus in Athens. The adjacent communities operate as a single property, and include a total of 1,134 beds. David Keller and Mark Sixour of HFF arranged the seven-year, floating-rate loan through Freddie Mac’s Capital Markets Execution program on behalf of the borrower, an entity …

Marcus & Millichap Brokers $20.9M Sale of Student Housing Portfolio Near Wake Forest University

WINSTOM-SALEM, N.C. — Marcus & Millichap has brokered the $20.9 million sale of Deacon Properties, a 64-home, 251-bed student housing portfolio located within walking distance of Wake Forest University in Winston-Salem. Nate McDaniel, Allen Smith and Ian Turnbull of Marcus & Millichap arranged the transaction on behalf of the seller, Deacon Rental Properties, and procured the buyer, Mission Bay Investments. The properties feature three- and four-bedroom units ranging from 1,800 to …

Security Properties Buys 254-Unit Multifamily Property in Phoenix for $59M

PHOENIX — Security Properties, along with funds managed by Oaktree Capital Management, has purchased Pavilions on Central, a multifamily property located at the intersection of Central and Campbell avenues in Phoenix, for $59 million. The name of the seller was not released. Located within the Midtown neighborhood of Phoenix, Pavilions on Central features 254 apartments in a mix of one-, two- and three-bedroom floorplans with an average unit size of 1,109 square feet. Although the property …

Kidder Mathews Negotiates $6.4M Sale of Apartment Building in Costa Mesa, California

COSTA MESA, CALIF. — Kidder Mathews has arranged the sale of Casa Del Mar, an apartment building located at 147 E. 18th St. in Costa Mesa. Newport 18th Partners acquired the 16-unit property from a private trust for $6.4 million. Steven Brombal and Joshua Rhee of Kidder Mathews represented the seller and buyer in the deal. The offering is the first time Casa Del Mar has been on the

IPA Arranges Sale of 350-Unit Apartment Community in Corpus Christi

CORPUS CHRISTI, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Sendera Baypoint, a 350-unit multifamily community in Corpus Christi. The property was built in 1998 and offers amenities such as two pools, a sports court, business center, putting green, pet park, 24-hour fitness center and outdoor picnic and grilling areas. Will Balthrope, Drew Kile and Jordan Featherston of IPA represented the seller, Austin-based Sendera …

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