FORT WORTH — CSFB 2003-C4 Carlton Apartments has sold the 108-unit Carlton apartment complex to G8 Capital LLC Opportunity Fund LLC for an undisclosed price. The property is located at 6301 Woodway Drive in Fort Worth. Peter Hartnett of Hendricks & Partners' Dallas office brokered the sale.
ARVADA, COLO. — Pinnacle Real Estate Advisors has handled the $3.65 million sale of the 58-unit Village West Apartments located at 12155 W. 58th Place in Arvada. Constructed in 1972, the multifamily property features 48 two-bedroom/two-bath units and 10 one-bedroom/one-bath units. Pinnacle’s Mike Phillips and Josh Newell represented the buyer and seller, respectively.
TAMPA, FLA. — Franklin Real Estate Services has brokered the $8.8 million sale of Johnson and Kenneth Court Apartments between two undisclosed parties. The 200-unit property, which is located at 5711 Troy Court in Tampa, was built in 1976. Section 42 Low Income Housing Tax Credits were used to finance the deal. The firm's Darron Kattan, Robert Goldfinger and Kevin Kelleher brokered the sale.
VAN BUREN TOWNSHIP, MICH. — Southfield, Mich.-based Bernard Financial Group has arranged $13 million in financing for Westlake Apartments in Van Buren Township. The 510-unit multifamily property contains 446,510 square feet of rentable space. Dennis Bernard and Kevin Kovachevich of Bernard Financial originated the loan for Occidental Development. Minnesota Mutual Life Insurance Co. funded the financing.
LAWRENCE, MASS. — Centerline Capital Group has secured $10.6 million in Freddie Mac financing for a new multifamily project located in the Boston suburb of Lawrence. Legacy Park contains a total of 104 townhome and apartment units. It was completed in March of this year. The loan carries a 10-year term. Steven Cox, Joshua Messier and Ian Monk of Centerline's newly opened Boston office arranged the deal.
LAUREL, MD. — Charlie Mentzer of Walker & Dunlop has secured a $20.20 million acquisition loan for the 220-unit Spring House Apartments in Laurel. The property, which was built in 1986, is 92.3 percent occupied. The 10-year loan carries a 30-year amortization schedule and a 78.3 percent loan-to-value ratio. John Street of Allied Mortgage & Realty Corp. originated the loan.
CHICAGO — Dallas-based Behringer Harvard has purchased Burnham Pointe Apartments, which is located at 730 S. Clark St. in Chicago. Situated within Chicago’s South Loop submarket, the property features 298 apartment units, 267 parking spaces and 16,000 square feet of commercial space. Community amenities include a fitness club, a pool, a spa, a clubroom, a terrace and a business center. Peter Marino, Jesse Karasik, John Clifford, John Jaeger, Dan Cohen and Melissa Strauss of CB Richard Ellis Capital Markets represented the seller, Stark Burnham Pointe, in the transaction. Terms of the transaction were not disclosed.
NEW YORK CITY — GFI Realty Services has brokered the sale of a Brooklyn apartment building for $2.29 million. The four-story, walk-up property is located at 1202 66th St. in the borough's Bensonhurst neighborhood. It contains 19 units, all of which are rent stabilized. Rick Helfand of GFI represented the seller, and Erik Yankelovich, also of GFI, represented the buyer. The deal was completed as part of a 1031 exchange.
EL PASO, TEXAS — EPT The Trails at Rancho Vista Apartments LLC has purchased the 310-unit Amberwood apartment complex from Amberwood Housing for an undisclosed amount. The El Paso property contains one-bedroom, two-bedroom and three-bedroom apartments. Winston Black of Hendricks & Partners represented the buyer.
ATLANTA — Bell Fund III has purchased the 318-unit The Heights at Cheshire Bridge from a private seller for an undisclosed price. Located on 11 acres of land at 2124 Cheshire Bridge Road in Atlanta, the property contains eight separate buildings and a clubhouse. Bell Partners will manage the property.