WHITE HOUSE, TENN. — Graycliff Capital Partners LLC has acquired The Standard at White House, a 240-unit apartment community in White House. The Standard at White House offers one-, two- and three-bedroom floor plans ranging from 830 to 1,325 square feet. Amenities include a saltwater swimming pool, clubhouse, fitness center, courtyard and grilling stations. The property is located at 126 Madeline Way, about 26 miles north of downtown Nashville. The seller and sales price were not disclosed.
TAMPA, FLA. — Coastline Management Group has acquired Park at Ravenna, a garden-style apartment community consisting of 300 units across 19 three-story buildings in Tampa. KeyBank Real Estate Capital has provided a $23.3 million loan for the buyer, which is using the loan to fund the acquisition and capital improvements. Robert Ginsberg of Eyzenberg & Co., structured and placed $6.9 million in equity with JCR Capital. Built in 1972, Park at Ravenna’s amenities include two swimming pools, a fitness center, clubhouse, playground, dog park and a business center. Alan Isenstadt of KeyBank originated the three-year loan, the terms of which were not disclosed.
BOSTON AND LYNN, MASS. — CBRE has arranged a $62 million loan to refinance a 19-building apartment portfolio in Boston and Lynn. The assets consist of workforce housing with a combination of both market-rate and affordable apartments. John Kelly of CBRE secured financing on behalf of the owner, Helge Capital. The lender was undisclosed.
NEWTON, N.J. — Gebroe-Hammer Associates has brokered the $17.9 million sale of Landmark West Apartments, a 168-unit apartment community in Newton. Located at 100 Swartzwood Road, the 11-building community is comprised of one- and two-bedroom units. Stephen Tragash and Adam Zweibel of Gebroe-Hammer represented the seller, Newton West Limited, in the transaction. The buyer was a private investor.
SECANE, PA. — Marcus & Millichap has negotiated the $1.8 million sale of Ashland Terrace, a 27-unit multifamily building in Secane. Located at 711 Ashland Ave., the property consists of six, one-bedroom and 21, two-bedroom units. Clarke Talone, Andrew Townsend, Daniel Bernard and Ridge MacLaren of Marcus & Millichap’s Philadelphia office represented the seller, a private partnership, in the transaction. The buyer was a regional limited liability company.
GILBERT, ARIZ. — Dallas-based Leon Capital Group plans to develop Residences at SanTan Village, a multifamily community located north of SanTan Village Mall in Gilbert. Situated on 15.8 acres, the Residences at SanTan Village will feature 380 units in six three- and four-story buildings designed in a modern prairie style. Construction is slated to begin in summer 2019 with the first units available in early fall 2020. The property will feature a variety of floor plans with best-in-class interior finishes, including nine- to 10-foot ceilings, urban mudrooms, smart locks, walk-in showers, soaking tubs, granite countertops, stainless steel appliances, wood-plank vinyl flooring and private garages. On-site amenities will include a two-tiered, zero-edge resort pool with swim-up hospitality and entertainment area with televisions; poolside cabanas; and a two-story fitness and wellness center with Peloton bikes and an indoor/outdoor yoga garden. The property will also feature a 1,900-square-foot sky terrace with chef’s kitchen; resident’s club and sports bar with kitchen and a multi-screen television wall; a business and conference center; outdoor gaming garden with grilling stations; and on-site, fully furnished guest suites. The property will also be walking distance to Top Golf, Main Event and SanTan Village, a 500-acre, open-air development featuring 3 million …
CARSON, CALIF. — Arbor Realty Trust has funded a $2.8 million Freddie Mac Small Balance Loan (SBL) for Sky South Bay, a multifamily property located in Carson. Built in 2018, Sky South Bay features 13 apartments in a mix of studio-plus, one- and two-bedroom layouts with private patios or rooftop decks. Interior amenities include designer kitchens with quartz countertops and stainless steel appliances, central heating and air conditioning, in-unit washers/dryers and secure on-site parking. Eugene Yanovskiy of Arbor’s New York City office originated the loan.
NEW YORK CITY — Naftali Credit Partners has arranged a $65 million construction loan for a 74-unit luxury condominium project in Queens. Located at 107-02 Queens Blvd., the 10-story property will also include more than 25,000 square feet of retail space. Amenities will feature a fitness center, playroom and rooftop terrace. Naftali Credit Partners secured the financing on behalf of the borrower, a partnership between RJ Capital Holdings and RB Realty Capital through lender CIT Bank. Terms of the financing were undisclosed.
AVON, CONN. — The Clairmont Group has acquired Avon Place Apartments, a 164-unit apartment community in Avon for $24 million. Located at 46 Avonwood road, the 45-year-old property consists of three buildings and a clubhouse. The Clairmont Group secured financing for the acquisition through private equity firm RealtyMogul. Matt Schneid of Cole Scholz P.C. served as legal advisor on the transaction. The seller was undisclosed.
DALLAS — Greysteel has arranged the sale of Meadows at Ferguson, a 264-unit affordable housing property in northeast Dallas. The garden-style community was built in 1983 and features one, two- and three-bedroom units averaging 723 square feet per unit. Communal amenities include two pools, a business center, picnic area, a playground and onsite laundry services. Doug Banerjee, Boyan Radic, Andrew Mueller, Daniel Hartnett and Scott Simon of Greysteel represented the seller in the transaction and arranged acquisition financing for the buyer. Both parties requested anonymity.
