RANCHO CUCAMONGA, CALIF. — The New York office of Holliday Fenoglio Fowler (HFF) has arranged a $23.28 million loan for the refinancing of Ironwood Apartments, a 260-unit apartment community located in Rancho Cucamonga. Located at 11100 4th St., the 94-percent occupied property features one-, two- and three-bedroom units averaging 920 square feet. Whit Wilcox of HFF secured the 7-year, adjustable-rate loan through Freddie Mac for the borrower.
SANTA MONICA AND HOLLYWOOD, CALIF. — Hamid Soroudi and Kimberly Roberts-Stepp of Charles Dunn Co. has negotiated three multifamily transactions totaling more than $7.42 million in Santa Monica and Hollywood. In a $1.41 million all-cash transaction, E6 LLC acquired a five-unit, 3,256-square-foot property, which is located at 844 14th St. in Santa Monica. Roberts-Stepp represented the buyer in the transaction. Also in Santa Monica, Xenon Investment Corp. sold 1901 Sixth Street, a 16-unit, 14,399-square-foot multifamily property to 1626 N. Fuller LLC for $2.97 million. Soroudi represented the seller; Roberts-Stepp represented the buyer in the transaction. In the final transaction, Jay Harek acquired 1626 N. Fuller Avenue, a 12,540-square-foot multifamily property in Hollywood, from 1626 N. Fuller LLC for $3.05 million. Roberts-Stepp represented the buyer; Soroudi and Roberts-Stepps represented the seller in the transaction.
DENVER — 1620 Grant Street LLC has purchased Winbro, a 66-unit apartment complex in Denver, for $2.12 million. The buyer plans to make capital improvements to the property, which is located at 1620 Grant St. Frank Farrell of Hendricks & Partners’ Denver office represented the seller, Winbro Investors LLC, in the transaction.
CASSELBERRY, FLA. — LaSalle Investment Management has borrowed $18.25 million for its 408-unit Harbor at Lake Howell apartment complex. The property, which sits on 34 acres at 1280 Vinings Lane in Casselberry, is 90 percent leased. Apartment amenities include two swimming pools, a tennis court, a fitness center and a business center. Freddie Mac financed the 7-year, adjustable-rate loan. John Rose of Holliday Fenoglio Fowler’s Dallas office and Paul Stasaitis and Elliott Throne of the firm’s Coral Gables, Fla., office secured the loan.
NEW YORK CITY — Massey Knakal has brokered the $11.22 million sale of 333 Ovington, Ave., a six-story, 119 rental unit elevator apartment building located between Third and Fourth Avenues in Brooklyn’s Bay Ridge neighborhood in New York City. The price equates to 9x GRM, $121 per square foot, $94.3k per unit, and a 6 percent capitalization rate. Landon McGaw of Massey Knakal handled the listing along with colleague Stephen Palmese. The buyer and seller were undisclosed.
LODI, N.J. — Marcus & Millichap has brokered the sale of Manorview Apartments in Lodi. The 21-unit property, which also contains one office space property, was sold for $2.2 million. Greg Babaian of Marcus & Millichap’s New Jersey office represented the seller, a partnership, in the transaction. Manorview Apartments was built on Main Street in 1950. It features a lot size of .24 acres, and a rentable square footage of 17,850 square feet.
VENICE, CALIF. — Kevin Sabin and Lev Galitzin of Sperry Van Ness represented the seller in the disposition of The Venice Rose, an apartment complex located at 15 Rose Ave. in Venice. An undisclosed out-of-state buyer acquired the property for $3.8 million or $348 per square foot. Originally built in 1908 by Abbot Kinney, the property features 13 single units, nine one-bedroom/one-bath units and two two-bedroom/one-bath units. The building also features a rooftop deck with ocean views, huge balconies/patios and hardwood flooring.
HAYWARD, CALIF. — Mariner Health Care (GranCare Inc.) has acquired Hayward Hills Health Care Center, a 74,000-square-foot, 72-bed skilled nursing facility in Hayward. Located at 1768 B St., the property sold for $3.5 million. David Stolte of NAI Capital represented the buyer; Jay Hagglund of NAI BT Commercial represented the undisclosed seller in the transaction.
LEHIGH ACRES, FLA. — Coconut Grove, Fla.-based Carlisle Development Group has opened its 100-unit Heron Pond II Apartments senior living complex. Located at 8421 Heron Pond Dr. in Lehigh Acres, the $14 million complex contains 60 one-bedroom units and 40 two-bedroom units. Residents benefit from on-site health fairs, free medical testing and seminars on financial counseling. The two-story property includes two community clubhouses, a pool, a fitness center, a barber shop and a library. Each unit features roll-in shower stalls, grab bars and scald-control faucets.
MIAMI — J. Jeffrey Robertson of NorthMarq Capital’s Miami office has arranged a $20 million loan for the 424-unit Broadwater Apartments. The complex is located at 15000 S.W. 104th St. in Miami. The 10-year loan carries a 30-year amortization and was financed by Freddie Mac.