DALLAS — Bell Partners Inc. has acquired Alta West Davis Apartments, a 207-unit multifamily complex in the Bishop Arts district of Dallas. Completed in 2013, the community offers one- and two-bedroom layouts plus amenities such as a resort-style pool, fitness center and resident lounge. Apartments feature stainless steel appliances, natural wood cabinetry, walk-in closets, washers and dryers. New ownership will manage and rebrand the property, which was 90 percent leased at the time of the sale, as Bell Bishop Arts.
DALLAS — Marcus & Millichap has brokered the sale of Sienna Palms, a 152-unit multifamily property in Dallas, for $3.7 million. Constructed in 1980, the 14-building, garden-style community offers one- and two-bedroom floor plans averaging 840 square feet. Al Silva of Marcus & Millichap represented the seller, Cash Investments of El Paso, in the transaction. The purchaser, a Texas investment group also secured by Silva, plans improvements for the complex.
CARLSBAD, CALIF. – The 12-unit Sea Breeze condominium complex in Carlsbad has sold to Global Integrity Realty for $5.2 million. The complex is located at 3150 Ocean Street. It was built in 1982. Global Integrity represented itself in this transaction, while the seller, Holualoa Companies, was represented by Philip Buckley of CBRE San Diego. Universe Holdings will act as Global Integrity’s general partner.
HAYWARD, CALIF. – The 24-unit Pinehurst Apartments in Hayward has sold to a limited liability company for $3.9 million. The community is located at 29359 Dixon Street. It was built in 1992. David Weglarz of Marcus & Millichap’s Oakland office represented both the buyer and the seller, a private investor, in this transaction.
NEW YORK CITY — Marcus & Millichap has arranged the $12 million sale of 7 East 19th Street, a five-story, loft-style apartment building in the Flatiron district of Manhattan. The sales price equates to $960,000 per unit. Peter Von Der Ahe, Scott Edelstein and Seth Glasser, all in Marcus & Millichap’s Manhattan office, represented the seller, a New York-based private investor. Edelstein, Von Der Ahe and Glasser, along with Sean Beuche and Christopher Sjurset, also of Marcus & Millichap, represented the buyer, another New York-based private investor. The 10,144-square-foot property is located on East 19th Street between Broadway and 5th Avenue.
TULSA, OKLA. — The RADCO Companies has acquired The Overlook Apartments, a 284-unit multifamily community in Tulsa, from an undisclosed seller for $12.8 million. The property, which will be renamed Ashford Overlook, offers one- to three-bedroom options as well as amenities such as a fitness center and swimming pool. Located at 6339 S. 33rd West Ave., the complex is in proximity to a 1 million-square-foot retail development anchored by Lowe’s, Target and Sam’s Club. Atlanta-based RADCO plans $2.8 million of capital improvements to the asset, including interior, exterior and landscaping upgrades.
FORT LAUDERDALE, FLA. — Housing Trust Group (HTG) has broken ground on Village Place, a $15 million seniors housing development located at 720 N.E. 4th Ave. in Fort Lauderdale. Village Place will include 112 units with eco-friendly water fixtures, cable and satellite hookups, exercise room and a gated entrance with touchpad entry. The National Association of Home Builders is expected to designate Village Place a green building upon completion. Broward County Housing provided $125,000 toward the project, while U.S. Bank provided $38.6 million through its community development subsidiary. The loan amount includes a $13.2 million construction loan, $3 million permanent financing loan and more than $22.4 million of Low Income Housing Tax Credit equity, which was awarded by Florida Housing Finance Corp.
THE WOODLANDS, TEXAS — CBRE has arranged a $38 million take-out loan for The Village at The Woodlands Waterway, a 207-unit seniors housing property in The Woodlands. This long-term financing replaces the original construction loan for the project. A joint venture between Houston-based Bridgewood Property Co. and Chicago-based Harrison Real Estate Capital, the Class A facility offers independent living, assisted living and memory care options plus amenities such as a library, convenience store, barber shop, fitness center and indoor pool. The five-year, floating-rate mortgage includes an all-in interest rate of 2.35 percent and 36 months of interest-only payments. Aron Will of CBRE arranged the refinancing.
ATLANTA — Carter-Haston Holdings has purchased Glenwood East, a 236-unit multifamily community located at 390 Stovall St. in Atlanta's Glenwood Park neighborhood. Property amenities include a penthouse-level clubroom, outdoor courtyard, dog park and fitness centers. The mid-rise complex is also located in close proximity to the city's BeltLine. David Gutting and Derrick Bloom with Jones Lang LaSalle's capital markets team represented the sellers, Alliance Residential and Prudential Real Estate Investors, in the transaction.
GAITHERSBURG, MD. — NorthMarq Capital has arranged $22.4 million in acquisition financing for Oakwood Corporate Apartments, a 136-unit multifamily property located at 9890 Washingtonian Blvd. in Gaithersburg. The high-rise apartment community is located in Washingtonian Center and Rio Entertainment Center, a mixed-use development. Gary McGlynn, Jason Smith and Frank Relihan of NorthMarq’s Washington, D.C., office arranged the financing on behalf of the borrower through an insurance company.