BLACKSBURG, VA. — Frank Relihan, Gary McGlynn and Kenneth Gentzel of NorthMarq's Bethesda, Md., office have arranged $41 million acquisition financing for the 757-unit Terrace View Apartments, located at 301 Hunt Club Rd. in Blacksburg. The 10-year financing has a 30-year amortization schedule and was arranged through AmeriSphere Multifamily Finance, a Fannie Mae DUS Lender.
ELMHURST, ILL. — The Chicago office of Alliant Capital has arranged a $22.2 million loan to refinance Elmhurst Terrace Apartments, a 315-unit multifamily community located in Elmhurst. The proceeds from the loan, which was provided through the Fannie Mae DUS program, will be used to refinance a maturing Freddie Mac loan. Alliant also assisted the undisclosed borrower in securing a master lease with a local college for more than 20 percent of the units.
NEBRASKA — NorthMarq Capital has arranged $7.85 million in Fannie Mae DUS financing for a five-property multifamily portfolio in Nebraska. The portfolio contains a total of 270 units; the properties are located in Fremont, Omaha, Plattsmouth and Wahoo. The first-mortgage loan carries a 10-year term and a 30-year amortization schedule. James DuMars of NorthMarq's Phoenix office arranged the loan on behalf of the undisclosed borrower through AmeriSphere Multifamily Finance.
ARLINGTON, MASS. — Cushman & Wakefield has negotiated the sale of 30 Mill Street, a development site located in Arlington, Mass., approved for the construction of 116 apartments. The firm's Capital Markets Group, including Simon Butler, Biria St. John, Michael Byrne and John McLaughlin, represented the seller, CBS Transaction, and procured the buyer, W.P. East Acquisitions, an affiliate of Atlanta-based Wood Partners. Construction financing for the project is being provided by Cambridge Savings Bank.
JERSEY CITY, N.J. — The 467-unit The Residences at Dixon Mills has started its next phase of redevelopment, which includes the hallways, lobbies and courtyard areas. Nancy Santos, LLC, was the architect for the project and designed each of the five buildings to have their own style through color schemes, artwork and light fixtures that match the old style architecture of the development.
ALPHARETTA, GA. — Chicago-based Waterton Residential has acquired Parc Alpharetta, a Class A, age-restricted, multifamily community in Alpharetta. Located just west of Georgia 400 off Westside Drive, Parc Alpharetta is a four-story, two-building structure containing 210 units and is an active adult (55-plus) community. Constructed in 2008, it offers services and amenities including a fitness center, exercise classes, a library and business center, shuttle services, planned social events, walking paths, a luxury pool and an upscale community room. Parc Alpharetta was acquired as part of Waterton Residential Property Venture XI, a $500 million discretionary multifamily investment venture. It was originally developed by Wood Partners and Parc Communities.
BRADENTON, FLA. — The 336-unit Sawgrass Cove Apartments, located at 4801 47th Ave. West in Bradenton, has sold for $23.2 million to Sawgrass Cove Apartments, LLC, a joint venture between New York-based Atlas Real Estate Partners and Florida-based Andover Real Estate Partners. Amenities include a resort-style pool, tennis courts, fitness center and business center. Cole Whitaker and Hal Warren of Hendricks & Partners' Orlando, Fla., office represented the seller, Chicago-based Equity Residential.
FREDERICKSBURG, VA. — Greg Duvall of NorthMarq Capital's Kansas City, Kan., office has arranged first-mortgage financing of $15 million for the 200-unit Greens of Salem Run, located at 5600 Salem Run Blvd. in Fredericksburg. The 10-year financing has a 30-year amortization schedule and was secured through AmeriSphere Family Finance, a Fannie Mae DUS Lender.
WOODBRIDGE, N.J. — Woodbridge-based Helios Capital has completed the acquisition of a $2.69 million non-performing loan for a 30-unit, 18,613-square-foot multifamily building in Manhattan's Upper East Side. Josh Malka of Helios Capital represented the buyer, an affiliate of Brick Realty Capital. The lender was a New York-based bank.
COLORADO SPRINGS, COLO. — NorthMarq Capital has arranged $7.275 million in first-mortgage financing for Sienna Place Apartments, a 312-unit multifamily complex in Colorado Springs. The loan has a seven-year term and a 30-year amortization schedule. Financing was arranged by Northmarq's Daniel Trebil, senior vice president and senior director of the firm's Minneapolis regional office, and David Link, senior vice president and senior director of the firm's Denver regional office. NorthMarq arranged this financing through its seller-servicer relationship with Freddie Mac.