OMAHA, NEB. — NorthMarq Capital’s Omaha office has arranged an approximately $25 million loan for Broadmoor Hills Apartments, a 299-unit multifamily property located in Omaha. The financing was based on a 10-year term with a 30-year amortization schedule. John Bendon of NorthMarq Capital arranged the financing for the borrower, Dodge Street Apartments, through NorthMarq’s seller-servicer relationship with Freddie Mac.
WICHITA, KAN. — David Farrell of NorthMarq Capital’s Kansas City office has arranged $8 million in first mortgage financing for Berkshire Apartments, a 252-unit multifamily property in Wichita. The 10-year loan, which includes a 30-year amortization schedule, was secured for the borrower, Berkshire Renovations LLC/Maxus Realty Trust, through NorthMarq’s seller-servicer relationship with Freddie Mac.
HOUSTON — Cadence McShane Construction Co. has completed La Maison, a 423-unit luxury apartment community located in Houston's River Oaks submarket. Situated on 5.3 acres at 2727 Revere St., the project consists of adjoining four- and five-story buildings designed in the New Orleans Garden District style. The community is subdivided into five separate areas, each containing courtyards with pools, fountains and extensive native landscaping. The project also features an arched entry with a grand fountain as well as ornate brick columns, wrought iron fencing and gas lamps throughout the development. Other amenities include a six-level parking garage and a clubhouse that features leasing and management offices, a business center, and recreational facilities. The developer of La Maison is ZOM Inc. and the project architect is RTKL Associates.
HOUSTON — Dominium Development & Acquisition has purchased Chateau Village Apartments, a 150-unit affordable housing community located in Houston. The buyer plans to complete several improvements to the property, including new landscaping and updates to the community building. Unit improvements include new lighting, flooring fixtures, appliances, counters, cabinets and paint. Dominium also plans to rename the community St. James Village Apartments. The seller the purchase price were not disclosed.
CARROLLTON, TEXAS — Arbor Commercial Funding has secured $3.2 million in Fannie Mae DUS financing for Marsh Highland Apartments, a 102-unit multifamily community located in Carrollton. The loan carries a 10-year term, a 30-year amortization schedule and a 5.54 percent interest rate. John Edwards of Arbor's Boston office originated the loan on behalf of the undisclosed borrower.
SUNNYVALE, CALIF. — Marcus & Millichap has arranged the $43.8 million sale of Avalon at Parkside, a 192-unit apartment community located in the heart of the Silicon Valley at 355 N. Wolfe Rd. in Sunnyvale. Marcus & Millichap’s Stanford Jones, Phil Saglimbeni and Sal Saglimbeni represented AvalonBay Communities Inc. in its sale of the 204,600-square-foot property, which was completed in 1991, to Acacia Capital Corp.
NEW YORK CITY — GFI Realty Services has brokered the sale of a six-story apartment building located in New York City for $4.7 million. Situated at 86 Bay 29th St., the elevator-served building contains 42 units. It was purchased by a local investor at a 5.5 percent capitalization rate. Erik Yankelovich and Shulem Paneth of GFI represented both parties in the transaction.
NEW YORK CITY — Massey Knakal Realty Services has negotiated the $2.65 million sale of 39 cooperative units within a 54-unit residential building located in the Bronx, New York City. The units comprise four studios, 24 one-bedroom units and 11 two-bedroom units. The six-story residential building was constructed in 1950 and is situated at 3250 Netherland Ave. Karl Brumback and Paul Smadbeck of Massey Knakal were the sole brokers in the deal. The property traded for 6.8 percent.
LOS ANGELES — Marcus & Millichap has brokered the $1.9 million sale of 1973 S. Bedford St., a 16-unit apartment property located in west Los Angeles. The firm’s Earle Hyman represented both the buyer and the seller.
CHICAGO — The Chicago and Boston offices of Holliday Fenoglio Fowler (HFF) have arranged $100 million in financing for a 1,617-unit, four-property multifamily portfolio. The financing includes a 10-year, $23.7 million loan for The Gates of Carlson Center, a 435-unit property located at 300 Carlson Parkway in Minnetonka, Minn.; a 7-year, $27.48 million loan for Fountain View on the Plaza, a 396-unit community located at 4800 Oak St. in Kansas City, Mo.; a 7-year, $17.7 million loan for the 486-unit Villages of Bogey Hills, located at 2200 Lake Ct. in St. Charles, Mo.; and a 10-year, $31.05 million loan for Jefferson at Dedham Station, a 300-unit property located at 1000 Presidents Way in Dedham, Mass. Mike Kavanau and Fred Wittmann of HFF arranged the financing through Freddie Mac for the borrower, RREEF.