AUSTIN AND HOUSTON — Johnson Capital has secured two loans totaling $11.5 million for a pair of Texas apartment communities. Jason Pumpelly of Johnson Capital's Dallas office arranged a $6.5 million acquisition/renovation loan for the 248-unit Research Pointe complex in Austin through a regional bank. The owner, a private investor, has rebranded the community as The Park at Crestview. Pumpelly also arranged a $5 million acquisition/renovation loan for the 200-unit Northwoods Apartments in Houston through a regional bank. The community will be rebranded as Cypress Parc.
ATLANTA — The Harbor Companies has sold a three-property multifamily portfolio, located in Atlanta. The value-add portfolio is 60 percent occupied on average. The properties include the 203-unit Sandlewood Apartments, the 180-unit Wyntrace Apartments and the 138-unit Wynview Apartments. John Stone, Ron Cameron and Robert Selton of Colliers International represented the seller in the transaction. Tyler Averitt of Southeast Apartment Partners represented Sage Equities, the buyer.
VIRGINIA — Arbor Commercial Funding has arranged $62.7 million in 13 loans across Virginia, North Carolina and Georgia through Fannie Mae and Arbor Bridge Loan product lines. The properties that received funding include the 236-unit Woodland Trail Apartments in Georgia. In North Carolina, the properties include the 192-unit Ashbury Square Apartments, a 112,880-square-foot retail property, the 132-unit Chase on Commonwealth Apartments, the 125-unit The Landing on Farmhurst, the 88-unit The Oaks Apartments and the 75-unit Sharonridge Apartments. The Virginia properties include the 32-unit 930 Providence Road, the 28-unit 710-722 East 29th Street, the 24-unit 1507 O'Keefe Street, the 24-unit 2011 Chesapeake Drive and the 24-unit 811-819 East 29th Street. Brian Scharf of Arbor's Uniondale, N.Y., office originated the loans.
MIAMI — Love Funding has secured a $26.8 million construction loan for the construction of the 240-unit Alta Mira Apartments, a market-rate apartment complex located in Miami. Construction is slated to begin in July, with the first units scheduled for completion in February 2013. Carolyn Whatley of Love Funding's Palm Beach, Fla., office secured the 40-year permanent loan through HUD.
BELVIDERE, ILL. — National Foundation for Affordable Housing Solutions Inc. (NFAHS) has acquired Shadley Apartments, a 119-unit property in Belvidere, for $7.6 million. Orput Companies Inc. and Shadley Apartment Associated were the sellers. Orput developed the apartment property in 1978 and has been retained by NFAHSI as the property's managing agent.
NEW YORK CITY — Marcus & Millichap has arranged the $1.7 million sale of 452 Atlantic Ave., an eight-unit apartment building in Brooklyn. Matthew Rosenzweig of Marcus & Millichap's Brooklyn office represented the seller, a local investor. He also secured the buyer, a local investor.
HOUSTON — ARA has brokered the sale of the 256-unit Briar Meadows Apartments, located at 1414 S. Dairy Ashford St. in Houston's West Memorial/Briar Forest submarket. The complex is 94 percent occupied and features a swimming pool, heated outdoor spa, indoor sauna, tennis courts and a business center. David Mitchell of ARA's Houston office represented the seller, Austin-based Falcon Southwest, in the transaction. The buyer was San Francisco-based Stockbridge.
INDIO, CALIF. — The 186-unit Andorra apartments in Indio has sold to ROC | Bridge Partners for $12,025,000. The community was built in 1987 at 81720 Ave. 46. The seller, The Situs Companies, was represented by Alex Mogharebi of Hendricks & Partners’ Ontario office in this all-cash transaction.
QUINCY, MASS. — Berkshire Property Advisors has acquired Highpoint Apartments, a 394-unit apartment community in Quincy. Built in 2004 by Roseland Property Co. and The Congress Group, Highpoint is located on 22 acres. The property includes an 8,000-square-foot clubhouse, a health and fitness facility, a community lounge and heated swimming pool. Richard Robinson and Terence Scott represented the seller, Highpoint Apartments LLC, in the transaction. They also procured the buyer.
HOUSTON — ARA has arranged the sale of The Bristol, an 856-unit, REO apartment community located at 1221 Redford Road in Houston. David Wylie, Russell Jones, Matt Saunders and Zach Springer represented the seller, Atlanta-based TriMont Real Estate Advisors. Philadelphia-based Resource Real Estate purchased the community in an all-cash transaction.