O’FALLON, MO. — Blueprint Healthcare Real Estate Advisors has arranged the $54 million sale of Park Place Senior Living at WingHaven, a 206-unit independent living and assisted living community in the St. Louis suburb of O’Fallon. Blueprint represented the seller, AEW Capital Management, which sold the property on behalf of AEW Senior Housing Investors to CNL Healthcare Properties. Originally built in 2006, a joint venture of AEW and First Capitol Group acquired Park Place in 2011. The venture expanded the community with the addition of assisted living units and by converting units to memory care. Blueprint’s Ben Firestone was lead advisor on the transaction.
TOLEDO, OHIO — Marcus & Millichap has brokered the sale of a 200-unit apartment community for $15.3 million. Quail Hollow at the Lake is located in Toledo. Quail Hollow was built in 1999 and features a combination of one-, two- and three-bedroom units. Units include a private entrance, 9-foot ceilings, fully furnished kitchens, walk-in closets, washers and dryers and a private balcony or patio. Community amenities include a clubhouse with fitness center, outdoor pool with sundeck and Jacuzzi, a playground and a dog park. Michael Barron, Daniel Burkons and Joshua Wintermute of Marcus & Millichap listed the property on behalf of the seller and procured the buyer.
GREENFIELD, IND. — Resource Commercial Real Estate has arranged the sale of a 142-unit apartment property in Greenfield, approximately 25 miles east of Indianapolis, for an undisclosed price. Broadway Village Apartments was built in three phases with the last phase commencing in 2001. The community is comprised of one-, two- and three-bedroom units. Unit amenities include attached garages, vaulted ceilings, full-size washers and dryers and full-size appliances. The buyer was Broadway Village Apartment Partners LLC, and the seller was Fource LLC. Michael Wernke of Resource Commercial Real Estate brokered the transaction.
NEW YORK CITY — Ariel Property Advisors has brokered the sale of a development property located at 515 E. 86th St. in the Upper East Side. The 22-foot wide development site, which is part of an assemblage, sold for $11.2 million. The property has approximately 22,150 buildable square feet as of right for a rental or condominium development. A four-story, 6,060-square-foot vacant building currently sits on the lot. Victor Sozio, Howard Raber, Shimon Shkury, Randy Modell and Jesse Deutch of Ariel Property Advisors represented the seller, a private investor, and procured the buyer, a private investor, in the transaction.
NEW YORK CITY — The Brodsky Organization has opened Enclave at the Cathedral, located at 400 W. 113th St. in Manhattan’s Morningside Heights, for leasing. Situated on the ground of The Cathedral of Saint John the Divine, the two-tower property features 430 residences in a mix of studio, one- and two-bedroom with rents ranging from $2,400 per month to $4,720 per month. On-site amenities include an indoor art gallery, game room, screening room, a café, fitness center, parking garage, two roof decks and landscaped terrace with outdoor television. The property was designed by Handel Architects.
BOGOTA, N.J. — Redwood Realty Advisors has arranged the sale of an apartment building located in Bogota. Landmark Development Co. sold the property to Real Estate Growth Advisors for $6.7 million. Built in 1962, the garden-style property features 48 apartment units. Michael Scrima, Matthew Sandelands, Kevin McCrann and Thomas McConnell of Redwood Realty Advisors brokered the transaction.
NEW YORK CITY — Besen & Associates has brokered the sale of a mixed-use property located at 957 Utica Ave. in Brooklyn’s East Flatbush neighborhood. A private investor acquired the property for $5.1 million. Built in 2007, the three-story property features 18 apartment units in a mix of studio, one-, two- and three-bedroom units; 6,000 square feet of retail spaces; and a 26-space gated parking lot. The property features a 421-A tax exemption in place, which expires in June 2023. Greg Corbin and Miguel Jauregui of Besen & Associates, along with former Besen broker Jacob Aronov, represented the seller and procured the buyer in the transaction.
LOS ANGELES — NorthMarq Capital has arranged a $22.1 million refinancing for The Meadows, a 690-unit apartment complex in the Los Angeles submarket of Culver City. The community is located at 6100-6500 Green Valley Circle. The loan features a 10-year term with three years of interest-only payments followed by a 30-year amortization schedule. Jeffrey Weidell, Nathan Prouty and Andrew Slaton of NorthMarq Capital’s San Francisco office arranged the financing through the firm’s correspondent relationship with a life insurance company.
MONROVIA, CALIF. — A private investor has purchased a 53-unit apartment building in Monrovia for $12.2 million. The community is located at 1219 S. Alta Vista Ave. It was built in 1971. Warren Berzack and Stephen Geiger of Berzack Investment Property Advisors Group of Lee & Associates-LA North/Ventura represented both the buyer and seller, another private investor, in the transaction.
SAN ANTONIO — Berkadia has negotiated the sale and financing of Oak Hills Village located at 1847 Babcock Road in San Antonio. Mike Miller, Chris Ross, Will Caruth and Cody Courtney of Berkadia’s San Antonio office negotiated the transaction. Jeffery Kinney of Berkadia’s Jacksonville, Fla., office arranged the 10-year, fixed-rate CMBS financing. Built in 1972, the 121-unit property features one-, two- and three-bedroom floor plans. Each unit features fully equipped kitchens, walk-in closets, linen closets and ceiling fans. Select units feature a fenced backyard or patio, wet bar, gas fireplace, extra storage and golf course views. Community amenities include laundry facilities, covered parking, outdoor picnic and barbecue areas, swimming pool and pet park. The community is located near Loop 410 and I-10. Oak Hills Village is four miles from Ingram Park Mall and 10 miles from downtown San Antonio. A private investor from California was the seller. A Florida-based private investor was the buyer and will rehabilitate the units to optimize rent potential.