Multifamily

Arcapita Acquires Three-Property Seniors Housing Portfolio in Atlanta, D.C. for $110M

by John Nelson November 23, 2016

ATLANTA AND WASHINGTON, D.C. — Arcapita, a global investment management firm based in Bahrain, has acquired a portfolio of three senior living communities near Atlanta and Washington, D.C., for $110 million. The Arbor Co. will operate the three communities following the sale. Although Arcapita did not disclose details on the properties, CBRE recently arranged Arcapita’s purchase of two Atlanta-area properties — Arbor Terrace Peachtree City and Arbor Terrace at East Cobb. Combined with an $87 million portfolio purchase in Colorado earlier this year, Arcapita has invested nearly $200 million in U.S. seniors housing in 2016, totaling six properties and 506 units of independent living, assisted living and memory care.

November 23, 2016

Maryland Multifamily Southeast

Klein Enterprises Delivers Apartment Community in Maryland

by John Nelson November 23, 2016

BEL AIR, MD. — Klein Enterprises has delivered The Park at Winters Run, a 288-unit apartment community located on a 17-acre parcel in Bel Air. Units feature 9-foot ceilings, walk-in closets, Energy Star appliances, granite countertops, washers and dryers, patios or balconies, elevator access and internal access to garage parking for many units. Community amenities include a 24-hour fitness center; saltwater swimming pool; pet wash area; clubhouse with an entertainment kitchen; game room with billiards, shuffleboard and card tables; playground; outdoor patio with a grill and fire pit; 24-hour business center; free Wi-Fi in common areas; and 24-hour maintenance. A future retail component is planned for the property. The Dolben Co. Inc. manages The Park at Winters Run on behalf of Klein Enterprises.

November 23, 2016

Georgia Loans Multifamily Southeast Student Housing

HFF Secures $33.5M Loan for Student Housing Community Near Georgia Southern University

by John Nelson November 23, 2016

STATESBORO, GA. — HFF has arranged a $33.5 million permanent loan for The Hamptons, a recently built, 668-bed student housing community located within walking distance of Georgia Southern University in Statesboro. Delivered in fall 2015, The Hamptons features 117 Tudor-style cottages with a mix of two-, three-, four- and five-bedroom floor plans, as well as 120 one- and two-bedroom residential flats. Community amenities include a 10,000-square-foot clubhouse with a café, business center, study room, fitness center, steam rooms, cardio room, game room, bicycle rentals and tanning beds. Other amenities include a resort-style swimming pool with an 80-yard lazy river, sand volleyball court, bocce ball court, two dog parks and a separate study lounge. Jeremy Sain led HFF’s debt placement team in arranging the 10-year, fixed-rate loan through a national bank on behalf of the borrower, IMS Development.

November 23, 2016

Loans Midwest Multifamily Ohio Student Housing

NorthMarq Capital Arranges $4.7M in Acquisition Financing for Student Housing Portfolio in Cincinnati

by Kristin Harlow November 23, 2016

CINCINNATI — NorthMarq Capital has arranged the $4.7 million acquisition financing for Clifton Quarters, a student housing portfolio located near the University of Cincinnati. The portfolio includes 18 properties and 136 beds. The three-year, fixed rate loan includes a 25-year amortization schedule. The buyer was an out-of-state investor. NorthMarq arranged financing for the borrower through its relationship with a regional bank.

November 23, 2016

California Multifamily Student Housing Western

American Campus Communities, UC Berkeley Break Ground on 781-Bed Residence Hall

by Nellie Day November 23, 2016

BERKELEY CALIF. — American Campus Communities and the University of California, Berkeley have broken ground on a 781-bed residence hall located on the south side of the university’s main campus in Berkeley. The development, expected to house first-year students, will feature eight stories of residential and amenity space, 7,000 square feet of ground-floor retail and an 11,000-square-foot community center. The community center will include an “academic success center,” fitness center and student and gaming lounges. The project will also be home to 5,000 square feet of integrated space owned by Stiles Hall, a nonprofit student service group associated with the university. The public-private partnership transaction was structured under the American Campus Equity (ACE) program, which gives universities the opportunity to expand and modernize their student housing portfolio without the use of university financial resources. The development will seek LEED Gold certification. The project will include outdoor courtyards for student gathering that incorporate sustainable landscaping to treat rainwater runoff, reducing water usage by 50 percent and heat island effect by 50 percent. An expected completion date has not been announced.

November 23, 2016

Multifamily Oregon Western

Alliance Residential Co. Buys Multifamily Development Site in Portland for $5.8M

by Nellie Day November 23, 2016

PORTLAND, ORE. — Alliance Residential Co. has purchased a 30,000-square-foot development site in Portland’s Pearl District for $5.8 million. The site is located at 1400 N.W. Raleigh St. It previously housed a 28,000-square-foot industrial building that has since been demolished. Alliance has already broken ground on a new 147-unit, six-story apartment building known as Broadstone Reveal. The project will also feature ground-floor retail. Gary Griff, Jim Lewis and Paul Carlson of Cushman & Wakefield’s Capital Markets team represented the seller, Diller Properties LLC.

November 23, 2016

Loans Multifamily Texas

Greysteel Secures Permanent Refinancing for Multifamily Property in Euless, Texas

by Amy Works November 22, 2016

EULESS, TEXAS — Greysteel has secured an undisclosed amount of permanent refinancing for Royal Terrace, a multifamily property located in Euless. The 10-year, non-recourse loan, provided under the Freddie Mac Small Balance Loan program, features a fixed interest rate of 4.24 percent and a 30-year amortization schedule. Anton Mattli, John Marshall Doss and Zach Ghormley of Greysteel negotiated the loan for the borrower, Countrywide Hospitality LLC. Built in 1964, Royal Terrace features 120 units, a swimming pool and an on-site laundry facility.

November 22, 2016

Loans Multifamily New York Northeast Seniors Housing

HFF Secures $29.5M Construction Loan for Seniors Housing Condo Community in Long Island

by Amy Works November 22, 2016

NEW YORK CITY — HFF has arranged $29.5 million in construction financing for Phase II of The Vineyards at Blue Point, an active adult condominium community restricted to residents age 55 and older in Long Island’s Blue Point area. Evan Pariser of HFF arranged the construction loan through Bank of the Ozarks for the borrowers, Ornstein Leyton Co. and Latus Partners. Upon completion, the 280-unit property will encompass 44 buildings with townhomes and single-level flats. The units will feature oversized master bedrooms, in-unit washer/dryers and attached garages. Situated on 65 acres, the community features a heated outdoor swimming pool and bocce club, along with the Vineyards Club, which includes a fitness center, social rooms and lounge space.

November 22, 2016

Multifamily New York Northeast

Cushman & Wakefield Negotiates $29.4M Sale of Two-Building Multifamily Property in Manhattan

by Amy Works November 22, 2016

NEW YORK CITY — Cushman & Wakefield has arranged the sale of The Clarke, two contiguous buildings located at 222-224 W. 21st St. in Manhattan’s Chelsea neighborhood. Slate Property Group sold the property to a local investor for $29.4 million. The five-story buildings contain a total of 22,437 square feet and 27 free-market apartment units, including two Section 8 units, in a mix of one-, two-, three-, four- and five-bedroom layouts. Brock Emmetsberger and James Nelson of Cushman & Wakefield, along with David Schechtman, Lipa Lieberman and Abie Kassim of Meridian Capital Group, represented the seller. Jingying Wu of Sagewood Equity represented the buyer in the deal.

November 22, 2016

Florida Multifamily Southeast Student Housing

Colliers Arranges $24M Sale of Student Housing Community Near the University of South Florida

by John Nelson November 22, 2016

TAMPA, FLA. — Colliers International has arranged the $24 million sale of University Lake Apartments, a 401-bed student housing community located near the University of South Florida campus in Tampa. The property offers one- and two-bedroom units with bed-to-bath parity, granite countertops and washers and dryers. Community amenities include a 24-hour fitness center, three saltwater pools, a five-acre lake, sundeck with lounge chairs and a technology center. Travis Prince of Colliers represented the seller, CREI-Tampa LLC, in the disposition of the property to FPA Multifamily LLC.

November 22, 2016

Newer Posts

Older Posts