NORWALK, CONN. — Greystone has funded a $49.2 million Fannie Mae loan for the refinancing of SoNo Central, a 150-unit apartment building located in the southern coastal Connecticut city of Norwalk. Built in 2024, SoNo Central rises six stories and offers studio, one- and two-bedroom residential units in addition to 12 commercial spaces. Amenities include a pool, fitness center, community great room, bocce ball court and outdoor grilling and dining stations. Clint Darby and Andrew Remenschneider of Greystone originated the financing on behalf of the owner, Spinnaker Real Estate Partners.
MILLERSVILLE, PA. — New Jersey-based brokerage firm The Kislak Co. Inc. has negotiated the $7.9 million sale of a seniors housing development site in Millersville, a suburb of Lancaster. The 67-acre site at 306 S. Duke St. is the future home of a 420-unit, age-restricted community that will be known as The Village at Funk’s Farms. Plans for the project also include a healthcare facility with up to 75 beds. Matt Wolf of Kislak represented the seller, HHF Real Estate, in the transaction and the buyer, Burkentine Builders.
ATLANTA — Bell Partners has reopened Bell Collier Village, a 256-unit multifamily community located along Howell Mill Road in Atlanta’s West Midtown neighborhood. Following a fire, Bell Collier Village closed and terminated all leases in 2024 and has remained closed for restoration since. Preleasing at the restored community has already begun, and the first residences are expected to be available in June. Monthly rental rates begin at $1,315. The five-story apartment complex features a mix of studio, one- and two-bedroom floorplans, ranging in size from 426 to 1,657 square feet, according to Apartments.com. Amenities include a saltwater swimming pool, sundeck, fitness center, dog park, clubhouse, pet washing station, courtyard, grilling areas and a rooftop terrace.
LOS ANGELES — Marcus & Millichap has arranged the sales of two apartment complexes in the Brentwood neighborhood of Los Angles for a combined value of $46.3 million. Rabbie Banafsheha and Tony Azzi of the Azzi Group of Marcus & Millichap represented the seller in the deal. Totaling 61 units, the properties include an asset at 11911 Mayfield Ave. with 31 units and a nonconforming studio and a 29-unit building at 11860 Kiowa Ave.
LOWELL, MASS. — Regional owner-operator Arrowhead Properties has sold a 51-unit apartment building in the northern Boston suburb of Lowell. Wood Crest Apartments consists of two studios, 20 one-bedroom units and 29 two-bedroom residences that were fully occupied at the time of sale. Arrowpoint, which acquired the asset in late 2020 and implemented capital improvements, sold the building as part of a 1031 exchange. The buyer and sales price were not disclosed.
MOKENA, ILL. — Inland Real Estate Acquisitions LLC has purchased Clarendale of Mokena, a 156-unit senior living community in Mokena, a southwest suburb of Chicago. The property features 60 independent living residences, 56 assisted living units and 40 memory care units. Amenities include a bistro, pub, dining room, fitness studio, theater room, salon, outdoor patio and landscaped grounds. Clarendale of Mokena was 94 percent occupied at the time of sale. Inland’s Matthew Tice and Brett Smith completed the transaction on behalf of an Inland affiliate. A joint venture between LCS and Nuveen Real Estate was the seller. LCS Community Operations will continue to provide management services for the community and its residents.
ORLANDO, FLA. — PCCP LLC has provided a $92.5 million construction loan for Emi on 50, a 336-unit apartment development located at 1840 E. Colonial Drive in Orlando’s Mills 50 neighborhood. The borrower is Terian Development. Set for completion in second-quarter 2028, the nine-story community will offer studio, one-, two- and three-bedroom units averaging 895 square feet in size, with 20 apartments designed as live/work units and 15 planned as two-story townhomes. Amenities will include a fitness center, speakeasy and a café, as well as a rooftop deck with a pickleball court, pool, grilling stations and a Zen garden.
GREENVILLE, TEXAS — Pardue Cos., a Texas-based multifamily investment firm, has sold a portfolio of three multifamily properties totaling 428 units in Greenville, about 50 miles northeast of Dallas. The Ridge Apartments is a 112-unit complex that was built in 1985. Highland Terrace totals 172 units and was completed in 1978. Stone Ridge Apartments is a 144-unit property that was constructed between 1968 and 1983. All three are two-story, garden-style properties with pools and onsite laundry facilities. Taylor Hill, Michael Ware, Drew Kile, Joey Tumminello and Jack Windham of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented Pardue Cos. in the transaction. The buyer and sales price were not disclosed.
HOUSTON — Texas-based investment firm Presidium has acquired Whitney at The Heights, a 186-unit apartment complex located just outside of downtown Houston. Built in 2001, Whitney at The Heights offers one-, two- and three-bedroom units that range in size from 666 to 1,320 square feet. Residences are furnished with stainless steel appliances, individual washers and dryers and private entrances/patios. Amenities include a pool, resident clubhouse, fitness center, business center, dog park and outdoor grilling areas with TVs. The seller and sales price were not disclosed. Presidium plans to implement a value-add program that will initially target common areas and amenity spaces.
HANFORD, CALIF. — Dwight Capital has closed a $23 million HUD 223(f) refinance loan for Berkshire Crossing, a multifamily community in Hanford. Keith Hoffman and Aaron Kirshtein of Dwight Capital originated the transaction on behalf of the borrowers, Fresno Supreme and Santa Lucia Ventures. The loan proceeds will be used to refinance existing debt on the property, provide the borrower with cash-out and 35-year fully amortizing, fixed-rate financing. Completed in 2022, Berkshire Crossing offers 92 garden-style one-, two- and three-bedroom floor plans spread across four residential buildings. Units feature stainless steel appliances, ceiling fans, walk-in closets and private patios and balconies. Community amenities include a swimming pool, spa, fitness center, package lockers and a community clubhouse.