Multifamily

CORPUS CHRISTI, TEXAS —Marcus & Millichap has arranged the sale of Glen Willows Apartments, a 233-unit apartment complex in Corpus Christi. Zar Haro of Marcus & Millichap’s San Antonio office, along with Mike Moffitt Jr. of the firm’s Austin office, represented the seller, a limited partnership. The buyer is a limited liability company. Built in 1973 on 10.3 acres, Glen Willows Apartments is located at 5802 Everhart Road. Floor plans at the property include 32 one-bedroom, 128 two-bedroom and 47 three-bedroom single-level units, along with 26 two-bedroom/one-and-one-half-bath townhomes. The units feature central air conditioning, all-electric kitchens, spacious closets, patios and second-floor balconies. Community amenities include controlled access gates, two on-site laundry rooms, two swimming pools and a playground.

HOUSTON — Transwestern has arranged the sale of four multifamily properties totaling 704 units in Houston. Ed Cummins, Tim Gregory, Guadalupe Olivares and Ryan Mendez of Transwestern represented the sellers. Transwestern arranged the sale of Cancun Apartments, a 324-unit, garden-style community located at 1855 Wirt Road, purchased off-market for an undisclosed amount by DCM Cancun LP. Transwestern represented the seller, Elite Spring Branch Properties LLC, in the transaction; Huntington at Stonefield, a 264-unit, garden-style community located at 13100 Stonefield Drive, purchased by a first-time Houston buyer for an undisclosed amount and financed with a Fannie Mae loan. Transwestern represented the seller, CRP TBG Huntington Green LP, in the transaction; Legacy Apartments, a 70-unit, garden-style community located at 3905 and 4515 Lockwood Drive, a recent foreclosure that was purchased by an in-state buyer for an undisclosed amount. Transwestern represented the seller, SAMC REO 2013 01 LLC, in the transaction; Hidden Pines, a 46-unit, garden-style community located at 7611 Jalna St., purchased for an undisclosed amount by a private investment group. Transwestern represented the seller, Fat Property LLC in the transaction.

HURST, TEXAS — Marcus & Millichap has arranged the sale of Sutton Square Apartments, a 154-unit apartment property located in Hurst. John Barker of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a limited liability company. Barker also represented the buyer, another limited liability company. Sutton Square Apartments is located at 601 Bellaire Drive. The location provides access to State Highway 10 and State Highway 183.

SAN ANTONIO — San Antonio Commercial Advisors (SACA), an independently owned and operated member of the Cushman & Wakefield Alliance, has brokered the sale of The Place at Commerce, a 184-unit apartment community located in east San Antonio. The buyer was a Texas-based private investor, and the seller was a California-based partnership.

OKLAHOMA CITY — The RADCO Cos. (RADCO) has acquired Warwick West, an apartment complex located in the Northwest submarket of Oklahoma City. The 424-unit property was purchased for $31.2 million. RADCO financed the acquisition with private capital, in addition to a bridge loan from NXT Capital. Since August 2011, the company has raised more than $226 million of private equity to fund its purchases. Warwick West was originally built in 1978 on 17.4 acres in the city’s Northwest submarket. It features 16 floor plans, including 195 one-bedroom apartments, 199 two-bedroom units, 29 three-bedroom units and one five-bedroom layout. In addition, 16 of its units are townhomes. Community amenities include three swimming pools, a fitness facility, rentable event space, tennis courts and a picnic area with barbeque grills. The property is situated along the Northwest Expressway, which connects Oklahoma City residents with downtown, and is next door to the 511-bed Integris Baptist Medical Center.