Multifamily

Amerige Pointe Apartments in Fullerton Trades for $115M

by Nellie Day October 27, 2016

FULLERTON, CALIF. — A global fund has purchased the 292-unit Amerige Pointe apartments in Fullerton for $115 million. The Class A community is located at 1001 Starbuck St. within the master-planned community of Amerige Heights. The property also contains 10,300 square feet of retail space. The buyer plans to upgrade the unit interiors, as well as some common area spaces. Joe Leon, Jeff Rowerdink and Dean Zander of Berkadia represented both the buyer and original owner and developer in this transaction.

October 27, 2016

California Multifamily Retail Western

CBRE Arranges $13.4M Sale of Shops on Hill in Pasadena

by Nellie Day October 27, 2016

PASADENA, CALIF. — CBRE has arranged the $13.4 million sale of Shops on Hill, a 32,685-square-foot mixed-use center in Pasadena. The two buildings are located on opposite corners of the intersection of East Washington Boulevard and North Hill Avenue, and feature 12 apartments with ground-floor retail. Shops on Hill LLC, an entity controlled by Engine Real Estate, acquired the property.

October 27, 2016

Georgia Loans Southeast Student Housing

NorthMarq Secures $22.2M Refinancing of Student Housing Property Near University of West Georgia

by John Nelson October 27, 2016

CARROLLTON, GA. — NorthMarq Capital has secured the $22.2 million refinancing of Flats at 316, a 240-unit student housing community located near the University of West Georgia in Carrollton. The transaction was structured with a three-year, interest-only term. Will James of NorthMarq Capital arranged the financing on behalf of the undisclosed borrower through a bridge lender. Flats at 316’s community amenities include a basketball court; cyber café; dog park; a lounge with a flat screen, pool table, ping pong, poker and other games; a resort-style swimming pool; sand volleyball court; coffee bar; fitness center; and shuttle service to and from campus.

October 27, 2016

District of Columbia Maryland Seniors Housing Southeast Top Stories Virginia

HCP Acquires Seniors Housing Portfolio in Mid-Atlantic for $186.3M

by John Nelson October 27, 2016

BALTIMORE AND WASHINGTON, D.C. — An affiliate of HCP Inc. (NYSE: HCP), a seniors housing REIT based in Irvine, Calif., has purchased a portfolio of assisted living and memory care properties in the Mid-Atlantic for approximately $186.3 million. Developed between 1993 and 2013, The Morningside House Mid-Atlantic Portfolio consists of seven seniors housing communities located in the greater Baltimore and Washington, D.C. areas. The seller, a joint venture between Morningside House Senior Living and Harrison Street Real Estate Capital, sold the portfolio for roughly $354,000 per unit. HCP has selected Chicago-based Senior Lifestyle Corp. to operate the assets. The portfolio included: — Morningside House of Ellicott City in Ellicott City, Md. — Morningside House of Friendship in Hanover, Md. — Morningside House of Laurel in Laurel, Md. — Morningside House of Satyr Hill in Parkville, Md. — Morningside House of Leesburg in Leesburg, Va. — Morningside House of Saint Charles in Waldorf, Md. and — Poet’s Walk Memory Care in Fredericksburg, Va. Lisa Widmier and Matthew Whitlock led CBRE Capital Markets’ National Senior Housing team in representing the joint venture in the sale. “This transaction had multiple moving parts, including a new operator — Senior Lifestyle — partnering with a …

October 27, 2016

Delaware Multifamily Northeast

The Galman Group Completes $31.1M Sale of 286-Unit Apartment Building in Claymont, Delaware

by Amy Works October 26, 2016

CLAYMONT, DEL. — The Galman Group has completed the disposition of The Edge at Greentree, a garden-style apartment community located off Namaans Road in Claymont. A joint venture between two private groups acquired the asset free and clear of existing debt for an undisclosed price. The 26-building community features 286 apartments in a mix of one-, two- and three-bedroom units averaging 844 square feet. Community amenities include a state-of-the-art fitness center and tech lounge. Mark Thomson and Carl Fiebig of HFF represented the seller in the transaction.

October 26, 2016

Loans Massachusetts Multifamily Northeast

EagleBridge Capital Arranges $9.5M Loan for 24-Unit Apartment Complex in Boston

by Amy Works October 26, 2016

BOSTON — EagleBridge Capital has arranged $9.5 million in permanent mortgage financing for an apartment complex located at 8-12-16 Harvard Terrace in Boston’s Allston neighborhood. Brian Sheehan and Ted Sidel of EagleBridge secured the loan, which was provided by a major commercial bank, for the undisclosed borrower. The fully occupied three-building apartment complex features 18 three-bedroom/two-bath units and six two-bedroom/one-bath units. Apartments feature hardwood floors, fully equipped designer kitchens with stainless steel appliances, granite countertops, contemporary cabinetry and a private balcony or patio.

October 26, 2016

Massachusetts Multifamily Northeast

True North Capital Partners Acquires 207-Unit Apartment Community in Waltham, Massachusetts

by Amy Works October 26, 2016

WALTHAM, MASS. — An affiliate of True North Capital Partners has acquired Waltham Overlook, an apartment community located in Waltham, for an undisclosed sum. Built in 1979 and renovated in 2010, the community comprises nine three-story garden-style apartment buildings, a fitness center, outdoor pool, grill area and sun deck. The property features 207 apartment units in a mix of one- and two-bedroom layouts. Simon Butler and Biria St. John of CBRE/New England represented the undisclosed seller and procured the buyer in the deal.

October 26, 2016

Multifamily Texas

StreetLights Residential Opens The Carter Apartment Community in Houston

by Haisten Willis October 26, 2016

HOUSTON — StreetLights Residential has opened The Carter, a 305-unit apartment community in Houston. Located on Chelsea Boulevard just east of Montrose Boulevard, The Carter is situated near Hermann Park, midtown, downtown, the Texas Medical Center and Rice University. On-site amenities include a bar, fitness center, conference center, pet washing station, dog park, pool and 24-hour concierge service. The Carter’s fitness center features Precor fitness equipment, flex fitness room with spin bikes and a yoga studio. There is also a lounge with billiards and a card table located on the 19th floor. The Carter offers one-, two- and three-bedroom residences, along with four townhomes and five penthouses. Units range from 723 to 3,329 square feet. Unit amenities include 10-foot ceilings, granite countertops and backsplashes, hardwood flooring and stainless steel appliances. GDA Architects designed the building, Lynda Tycher & Associates designed the landscape and SLR Texas Construction served as the general contractor. StreetLights Residential and 5G Studio collaborated on the interior design. Lincoln Property Co. will manage the community.

October 26, 2016

Multifamily Texas

Transwestern Arranges Three Multifamily Sales in Metro Houston Totaling 773 Units

by Haisten Willis October 26, 2016

HOUSTON and GALVESTON, TEXAS — Transwestern has arranged the sale of three multifamily properties in metro Houston totaling 773 units. Transwestern’s Ed Cummins, Tim Gregory, Ryan Mendez, Kenady Davis and Lupe Olivares represented the sellers. The transactions include: Park Hollow, a 172-unit community located at 4343 S. Shaver St. in Houston, was purchased for an undisclosed amount. Transwestern represented the seller, Umbrella Home LLC, in the transaction. Maxey Village, a 409-unit community located at 666 Maxey Road in Houston, was purchased for an undisclosed amount. Transwestern represented the seller, Sintoro Capital LLC, in the transaction. Park at Cedar Lawn, a 192-unit community located at 4400 Ave. N. in Galveston, was purchased for an undisclosed amount. Transwestern represented the seller, Mosaic PCL LP, in the transaction.

October 26, 2016

Multifamily Texas

DCM Acquires 240-Unit Apartment Property in Metro Houston

by Haisten Willis October 26, 2016

BAYTOWN, TEXAS — Drever Capital Management (DCM) has acquired Aria at Rollingbrook, a 240-unit apartment community previously known as Watercolor, in Baytown. DCM purchased the property, located at 1700 Rollingbrook Drive, from The Leyendecker Group of Houston. A renovation program is planned to enhance the community and resident experience. Interior upgrades will include granite kitchen countertops, Energy Star appliances and a washer and dryer in each unit. Clint Duncan of CBRE’s Houston office represented the seller in the transaction. Tom Cabibi of DCM internally represented the buyer.

October 26, 2016

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