DENVER — Jackson Square Properties has sold the 345-unit Villas at Parker apartment community in Denver to Advenir for an undisclosed sum. The community is located at 1090 S. Parker Road. It was built in 1972 and renovated in 2008 and 2009. ARA Newmark represented Jackson Square in this transaction.
PLAINFIELD, IND. — KeyBank has provided a $13.2 million Fannie Mae loan for an apartment complex in Plainfield, approximately 17 miles southwest of Indianapolis. Gladden Farms Apartments is a 220-unit affordable housing community that operates under the federal Low-Income Housing Tax Credit Program established by the Tax Reform Act of 1986. Gladden Harmony Housing LLC will use the loan proceeds to fund the acquisition and refinance the property.
PHOENIX — A joint venture led by Sunroad Enterprises received $23.5 million in first mortgage debt to finance the acquisition of the 240-unit Sonoma Ridge Apartments in Phoenix. The community is located at 8201 W. Beardsley Road. HFF’s Aldon Cole and Tim Wright arranged the financing, which Mesa West Capital provided.
RIALTO, CALIF. — Blueprint Healthcare Real Estate Advisors has arranged the $14.1 million sale of Vista Cove Care Center, a 177-bed skilled nursing facility in Rialto, about 55 miles east of Los Angeles. A joint venture of a New York-based real estate group and a Los Angeles-based operator bought the property from a regional owner/operator. The purchase price equates to $79,858 per bed and a capitalization rate of 7.3 percent. Blueprint’s Christopher Hyldahl was the lead advisor and Mike Segal assisted in executing the transaction.
BURLESON, TEXAS — Institutional Property Advisors (IPA) has arranged the sale of The Reserve at Village Creek, a 191-unit apartment community in Burleson. Will Balthrope, Drew Kile and Rowan Burch of IPA represented the seller and procured the buyer in the transaction. Built in 2012, the property is located at 444 E. Renfro St., with visibility and frontage on I-35. Texas Health Hughley Hospital is located three miles from the property and Alcon Laboratories, a manufacturer of eye care products, is six miles away. Apartments at The Reserve at Village Creek feature black appliances, island-style kitchens with granite countertops and washers and dryers. Community amenities include a fitness center and a swimming pool.
DALLAS — CBRE | UCR has brokered the sale of 94 acres at the northwest corner of Lancaster Road and I-20 in southern Dallas. Centurion American, based in Farmers Branch, purchased the tract from Sun NLF for an undisclosed price. The parcel will be added to an assemblage of land, currently spanning 294 acres, for a proposed mixed-use development called University Hills. The development will include townhomes, multifamily units, entertainment and retail. Lots should be available beginning in summer 2017. Thurston Witt of CBRE | UCR represented the seller in the transaction. Robert Maxey of MetroCom Properties represented the buyer.
NEW YORK CITY — Cushman & Wakefield has arranged the sale of a mixed-use building in Brooklyn’s Greenpoint neighborhood. Ben Franklin LLC acquired the 4,133-square-foot property for $3.1 million, or $762 per square foot. The four-story building features three residential units and a ground-floor retail space, which is occupied by a neighborhood bar. Brendan Maddigan of Cushman & Wakefield handled the transaction. The name of the seller was not released.
DAVENPORT, FLA. — KeyBank Real Estate Capital has provided a $22.4 million Fannie Mae first mortgage loan for Landings at Four Corners, a 270-unit multifamily apartment complex located in Davenport. Developed in 2009, the community was originally known as Alta Corners. Chris Black and Ben Meeron of KeyBank’s commercial mortgage group arranged the financing, which the undisclosed borrower used to acquire the property.
WICHITA, KAN. — WaterWalk Hotel Apartments has inked a deal with Rockford Development Group to develop eight WaterWalk franchises in San Antonio, Dallas, Austin and Denver. Paul Roberts and hotel industry veteran Rob Mossburg are leading Rockford’s end of the venture. Under the terms of the deal, Rockford will become a WaterWalk franchisee. The cost of building the eight locations was estimated at $150 million. Rockford’s construction arm will also become the preferred builder for WaterWalk-owned locations. Wichita-based WaterWalk’s hybrid hotel and apartment model is a play on the extended-stay model, combining traditional hotel services within a gated, apartment-like community. The complex offers one-, two- and three-bedroom floor plans with the option of being furnished or unfurnished upon rental. Amenities at WaterWalk include all-inclusive pricing, full-sized appliances in a modern kitchen, high-speed Internet, satellite television with premium channels and DVR, housekeeping, fitness club membership, a communal bicycle rental program, local transportation, and free breakfast. Entrepreneur Jack DeBoer, founder of Residence Inn, Summerfield Suites, Candlewood Suites and Value Place, created the new concept, which opened its first site in Wichita in 2014. WaterWalk locations target corporate housing needs, holiday travelers requiring an extended stay and those moving to a new city …
NEW YORK CITY — GFI Realty Services has brokered the sale of an apartment building located at 601 Ocean Parkway in Brooklyn’s Ditmas Park neighborhood. Meridian Properties acquired the property from Duo Ocean Parkway LLC for $19.5 million. The newly constructed 45,000-square-foot building features 44 residential units in a mix of one- and two-bedroom layouts, 14 indoor parking spaces, a lounge, fitness center, common outdoor terrace and a laundry facility. At the time of sale, the property was 100 percent occupied. Shulem Paneth and Eli Matyas of GFI represented the seller, while Erick Yankelovich represented the buyer in the transaction.
