CHICAGO — Chicago-based Essex Realty Group has arranged the $2.15 million sale of the 38-unit Columbia Gardens, a condominium conversion project located at 1615-25 W. Columbia in Chicago. Seven of the units had been sold and the remaining 31 units were sold in bulk in this deal. Jim Darrow and Jordan Gottlieb of Essex were the sole brokers in the transaction.
WEBSTER GROVES, MO. — ARCO Construction Co. has been selected to build the $18 million, 80-unit Provision Living at Webster Groves, a senior housing project located at 45 E. Lockwood in Webster Groves. On-site amenities will include medical, rehabilitation, wellness and retail space. Completion is slated for summer 2012.
LARGO, FLA. — Marcus & Millichap has brokered the $14.3 million, lender-approved short sale of the 444-unit Chaparral Apartments located at 601 E. Rosery Rd. in Largo, Fla., for $14.3 million to a Massachusetts-based partnership. Norman Eastwood of Marcus & Millichap's Dallas office and Tal Frydman of the firm's Fort Lauderdale, Fla., office represented the seller, a Houston-based partnership.
CHICAGO — Chicago-based general contractors Safeway Construction and Weis Builders have completed construction on the 45-unit King Legacy Apartments, an affordable apartment complex in Chicago. The three-story complex contains six retail units on the first floor. The Martin Luther King Fair Housing Exhibit Center is the main retail tenant.
CHESTER, PA. — Livingston, N.J.-based Gebroe-Hammer Associates has arranged the $8.5 million sale of 386 units of multifamily property in Chester. The property includes: St. James Gardens, a nine-building, 228-unit garden apartment complex at 314 East 224th St. Renshaw Terrace Apartments, a three-building, 78-unit garden apartment complex at 1300 Renshaw Rd. Willow Gardens, a seven-building, 80-unit garden apartment complex at 1101 Dorian Dr. Joseph Brecher and Eli Kessler of Gebroe-Hammer represented the buyer in the transaction.
NEW YORK CITY — A walk-up apartment building in the Fordham/Little Italy neighborhood in north Bronx sold for $1.325 million. The 14,400-square-foot multifamily property is located at 2503 Hughes Ave. The building features 21 units; all but three have been recently renovated. The sales price was $92 per square foot. Karl Brumback of Massey Knakal had the property listing.
DALLAS — Phoenix-based Hendricks & Partners has facilitated the sale of Lochwood, a 190,000-square-foot multifamily property, at 11117 Lochwood Blvd. in Dallas. Lochwood is a garden-style community built in 1958 and includes 200 units. McKinney-based Live Oak Lochwood bought the property from JPMorgan Chase & Co./En Quernus Holding Corp. Peter Hartnett and Chuck LaBenz of Hendricks & Partners represented the seller.
DENVER – ARA has sold the 40-unit Boulevard Gardens in Southwest Denver to an undisclosed buyer for $2,534,000. The transaction was financed through the Neighborhood Stabilization Program 2. The community was completely renovated and remediated in 2009. Boulevard Gardens is now leasing.
GAINESVILLE, FLA. — The 396-unit The Courtyards, a student housing apartment complex adjacent to the University of Florida in Gainesville, has sold for $16.65 million. Mike Ryals of Bosshardt Realty Services' Gainesville office, along with Dorothy Jackman and Travis Prince of Marcus & Millichap's Tampa, Fla., office represented the undisclosed seller. Ryals also represented the buyer, a Florida-based private investor.
PLAINVILLE, CONN. — 94 W. Main Apartments has purchased 42 apartment units in downtown Plainville for $2 million from a private owner. Located at 94 West Main St., the three-story building has 39 one-bedroom units and three efficiency units. Each one-bedroom unit has between 500-600 square feet of living space, while the efficiency units have 400 square feet. Steve Witten, Victor Nolletti and Eric Pentore, all of Marcus & Millichap, brokered the deal along with Westport, Conn.-based attorney Brad Aron, who represented the buyer, and Southington, Conn.-based attorney Roman F. Garbacik, who represented the seller.