SHERMAN, TEXAS — Hendricks & Partners (H&P) has brokered the sale of Woodridge, a 200-unit multifamily community located at 301 Highway 1417 North in Sherman. Tom Burns and Jay Gunn of H&P’s Dallas office represented the seller, Centerline Servicing Inc./Wells Fargo Bank, which was acting as trustee for Irving, Texas-based DLJ 2000 CKP1. The property was purchased by Dallas-based Trost Living Trust for an undisclosed amount.
HOUSTON — The Woodlands, Texas-based LMI Capital has arranged $2.92 million in acquisition financing for Witte Oaks Apartments, a 124-unit multifamily community located in Houston. Brandon Brown of LMI secured the loan on behalf of the undisclosed borrower. The lender, as well as the terms of the loan, were not released.
PITTSBURG, CALIF. — David Silver, Nathan Blair and Casey Davis of Arroyo & Coates represented both undisclosed parties in the disposition and acquisition of Creekside Village Senior Apartments, an 88-unit senior-living apartment complex located near the intersection of Buchanan Road and Kirker Pass Road in Pittsburg. Built in 2004, the property features one- and two-bedroom units offering gas fireplaces, washer/dryers and walk-in closets. Additionally, the age-restricted community features a community center, a heated swimming pool and a spa.
CARLSBAD, CALIF. — Locally owned Barker Family Trust has completed the disposition of two multifamily properties in Carlsbad. Glenn L. Goldman Family Trust, also of Carlsbad, purchased the properties for a combined total of approximately $3.16 million. The nine-unit Oak Villa Apartments, which is located at 3095 Harding St., sold for $1.34 million; and the 13-unit Jefferson Apartments, which is located at 3110-3132 Jefferson St., sold for $1.82 million. David Andrews of Hendricks & Partners’ San Diego office represented both parties in the transaction.
COLUMBIA. MO. — The St. Louis office of Love Funding has arranged a $4.26 million loan for Lake Broadway Townhomes, a 58-unit multifamily community located in Columbia. The property contains all two-bedroom townhomes; amenities include private patios, yards and a community pool. Love Funding’s Harry Cheatham originated the loan using the FHA 223(f) mortgage insurance loan program. The financing carries a 5.9 percent fixed interest rate and a 35-year amortization schedule. The borrower was Broadway Apartments LLC.
MT. KISCO, N.Y. — Scarsdale, N.Y.-based Goldschmidt & Associates has brokered several sale and lease transactions in Mt. Kisco. First, the company completed the sale of 19 East Main Street, which contains 12 apartments and two retail stores. The property was fully occupied at the time of closing. It was purchased by a local investor for $3.2 million. In addition, a local operator acquired 117 Smith Avenue, a 3,000-square-foot, commercially zoned house, for $500,000. The property had formerly been used as a pediatrician’s office and will be converted to a non-medical use by the new owner. Community Mutual Savings Bank also leased 3,000 square feet at 16 S. Bedford Ave. Finally, Q Restaurant and Mt. Kisco Liquor & Wine leased a total of 5,300 square feet at 487 Main St. Eric Goldschmidt of Goldschmidt & Associates was the sole broker in the first three transactions. Joshua Jacobs, also of Goldschmidt & Associates, represented the landlord in Q Restaurant and Mt. Kisco Liquor & Wine’s leases.
NEW YORK CITY — One Brooklyn Bridge Park, a 438-unit residential building located in Brooklyn, New York City, that was completed in March, has received a 2-year loan extension. In a statement, R.A.L. Companies & Affiliates, the developer of the project, said the extension will allow the company to meet its obligations to its residents, and to fund common charges and real estate taxes on unsold units within the project. R.A.L. has also announced a new pricing structure for the residences. The listing price has been lowered as much as 20 percent, with studio loft units now starting at $545,000. In addition, up to 25 percent of the project’s residences will be marketed as rental units, and some of them will be marketed as rent-to-own. Monthly rents will start at $1,875 for studios and $2,800 per month for one-bedroom units. One Brooklyn Bridge Park is located at 360 Furman St. It comprises the redevelopment of the former Brooklyn Heights distribution center into a residential community. The project is located within the 85-acre Brooklyn Bridge Park, a waterfront public park that is currently under construction along the East River.
VENICE, CALIF. — Sperry Van Ness has brokered the sale of The Venice Rose, a 24-unit apartment building, between two undisclosed parties for $3.8 million in cash. The property, located at 15 Rose Ave. in Venice, was constructed in 1908. The Venice Rose encompasses 13 single units, nine one-bedroom/one-bathroom units and two two-bedroom/one-bathroom units. Kevin N. Sabin and Lev Galitzin of Sperry Van Ness’ Los Angeles office represented the seller.
CHANDLER, ARIZ. — Marty Meagher and Gardiner Champlin of NorthMarq Capital’s San Diego office have secured a $13.72 million loan for the 272-unit Waterside at Ocotillo apartment complex. The property is located at 4800 S. Alma School Rd. in Chandler. The 10-year loan carries a 30-year amortization schedule. AmeriSphere Multifamily Finance provided financing through Fannie Mae.
CHAPEL HILL, N.C. — Jeff Frankel of NorthMarq Capital’s Chicago office has secured a $13.1 million loan for the 240-unit The Pointe at Chapel Hill apartment complex. The property is located at 100 Saluda Court in Chapel Hill. AmeriSphere Multifamily Finance provided financing for the 5-year interest-only loan.