Multifamily

IPA Arranges Sale of Multifamily Property in Dallas

by Haisten Willis February 12, 2015

DALLAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Bellagio at Bent Tree, 500-unit apartment community fronting Trinity Mills Road in Dallas. Will Balthrope and Drew Kile of IPA represented the seller, National Asset Services Inc. Willmax Capital was the buyer. Bellagio at Bent Tree is located within the North Dallas Platinum Corridor, which includes more than 30 million square feet of office space and six million square feet of shopping and retail. Located at 3901 Accent Drive, the community is one mile from the Dallas North Tollway and 1.5 miles from President George Bush Turnpike. Built in two phases between 1996 and 2000, Bellagio at Bent Tree includes 20 floor plans with 481,682 total rentable square feet and an average unit size of 963 square feet. Community amenities include three swimming pools, a game room with billiards, two clubhouses and an indoor basketball court.

February 12, 2015

Dougherty Arranges $3.5M Fannie Mae Loan for Hathaway Village Apartments

by Danielle Everson February 12, 2015

FLORISSANT, MO. — Dougherty Mortgage LLC has arranged a $3.5 million Fannie Mae loan for the refinancing of Hathaway Village Apartments, a 128-unit multifamily property located in Florissant. The 10-year loan includes a 30-year amortization schedule. Dougherty’s Dallas office arranged the loan for borrower, Hathaway Village Partners LLC. The property is close to I-270 and other major highways. Units include fully equipped kitchens, ceiling fans, central heat/air and oversized patios and balconies.

February 12, 2015

Loans Multifamily Texas

Dougherty Mortgage Originates $19.3M Loan for Apartment Complex in Dallas

by Haisten Willis February 12, 2015

DALLAS — Dougherty Mortgage LLC has originated a $19.3 million Fannie Mae loan for the acquisition of Mandalay Apartment Homes, a 281-unit apartment complex located in Dallas. The 10-year loan includes a 30-year amortization schedule and three years of interest-only payments. Dougherty’s Minneapolis office arranged the loan for the borrower, Mandalay Apartments LLC. The property is located near the University of Texas at Dallas and four major highways. Amenities include a fitness facility, two pools and a barbeque area. Apartments feature nine-foot vaulted ceilings, garden bathtubs, ceiling fans and walk-in closets.

February 12, 2015

Illinois Midwest Multifamily

M&M Arranges $2.7M Sale of 19-Unit Apartment Property in Chicago

by Danielle Everson February 12, 2015

CHICAGO — Marcus & Millichap has arranged the $2.7 million sale of a 19-unit apartment property in Chicago. The property is located at 900 W. Sunnyside Ave. in Chicago’s Uptown neighborhood. Steve Livaditis and Joseph Scheck of Marcus & Millichap’s Chicago O’Hare office represented the undisclosed seller and buyer, a local investor.

February 12, 2015

Loans Multifamily Northeast Pennsylvania

HFF Arranges Sale, Financing for Acquisition of Riverwalk at Millennium

by Amy Works February 12, 2015

CONSHOHOCKEN, PA. — HFF has arranged the sale of, as well as joint venture equity and acquisition financing for, Riverwalk at Millennium, a multifamily community in Conshohocken. A joint venture between Scully Co. and Long Wharf Real Estate Partners, which was arranged by HFF, purchased the 375-unit community from Riverwalk Realty Co. for an undisclosed price. HFF worked on behalf of the buyer to arrange a 10-year, floating-rate loan through Freddie Mac’s CME Program. The securitized loan will be serviced by HFF through its Freddie Mac Program Plus Seller/Servicer program. Situated on 7.9 acres at 309 Washington St., Riverwalk at Millennium features 239 one-bedroom units and 136 two-bedroom units, averaging 923 square feet. Community amenities include a clubhouse with fireplace, billiards and pub room; a resort-style swimming pool with sundeck; river views; a fitness center; and a business center with conference facilities. Mark Thomson, Zac Pierce, Jose Cruz and Kevin O’Hearn of HFF represented the seller in the transaction. Jim Cardranell, Ryan Ade and James Conley of HFF negotiated the financing for the deal.

February 12, 2015

Multifamily New York Northeast

Marcus & Millichap Brokers $1.7M Apartment Building Sale in Brooklyn

by Amy Works February 12, 2015

NEW YORK CITY — Marcus & Millichap has brokered the sale of an apartment building located at 153 Eagle St. in Brooklyn. The six-unit property sold for $1.7 million. Shaun Riley, James Saros and Michael Salvatico of Marcus & Millichap’s Brooklyn office represented the seller and buyer, both of which are private investors, in the transaction.

February 12, 2015

Colorado Multifamily Western

The Amherst Apartment Homes in Denver Sells for $5.6M

by Nellie Day February 12, 2015

DENVER – The Amherst Apartment Homes, an 81-unit multifamily property in Denver, has sold to a local buyer for $5.6 million. The community is located at 2775 S. Federal Blvd. It was built in 1973. The property was most recently renovated in 2010. The sale was executed by Josh Newell and Robert Lawson of Pinnacle Real Estate Advisors. The buyer assumed the unnamed seller’s current Fannie Mae loan.

February 12, 2015

Georgia Multifamily Southeast

Trillist Cos. Breaks Ground on YOO on the Park in Midtown Atlanta

by John Nelson February 12, 2015

ATLANTA — The Trillist Cos. Inc. has begun construction on YOO on the Park, a 25-story apartment tower located adjacent to Piedmont Park in Midtown Atlanta. The Trillist Cos. partnered with London-based YOO Studio on the 245-unit multifamily project, which will be located at 207 13th St. between Juniper Street and Piedmont Avenue. The property’s amenity package will include multiple resident lounges, game rooms, a virtual golf simulator, indoor and outdoor fitness facilities, resort-style pool and lounge, 24-hour concierge services, bike fix-it station and pet facilities with dog grooming stations. Trillist Cos. and YOO Studio are expecting a summer 2016 completion.

February 12, 2015

Claiborne Hughes Health Center Franklin Tennessee

Multifamily Seniors Housing Southeast Tennessee

CFG Capital Markets Brokers $7.5M Sale of Tennessee Skilled Nursing Facility

by John Nelson February 12, 2015

FRANKLIN, TENN. — CFG Capital Markets has brokered the $7.5 million sale of Claiborne Hughes Health Center, a 157-bed skilled nursing facility (SNF) located in the town of Franklin. The facility is located approximately 30 minutes south of Nashville and is one of five licensed skilled nursing facilities in the county. The building was originally constructed in 1949 as a high school and converted into a SNF in 1981. Claiborne Hughes was sold for $47,770 per bed to a private investor group. Proceeds were used to fully retire HUD mortgage debt and other liabilities. Michael Burchell, Mike Coiro and Samer Tahboub of CFG Capital Markets were the advisors on the transaction representing the seller.

February 12, 2015

Mixed-Use Multifamily Retail Texas

Construction Begins on SkyHouse Main Tower in Houston

by Haisten Willis February 11, 2015

HOUSTON — A development team including Jim Borders and Novare Group, with co-sponsor Batson-Cook Development Co., local development partner Peter W. Dienna, general contractor Batson-Cook Construction Co. and architectural firm Smallwood, Reynolds, Stewart, Stewart, has broken ground on SkyHouse Main. The development will be located at 1725 Main St. in Houston and will feature 336 residences across 24 stories, along with 7,200 square feet of street-level retail space. SkyHouse Main apartment homes will have floor-to-ceiling glass and high-end finishes, including stainless steel appliances, granite countertops, wood floors, balconies and high-speed Internet. The amenity package included a top floor featuring a club room, fitness center, pool and grilling area and unimpeded views of Houston. The project is within walking distance of more than 40 million square feet of office space, the Toyota Center, Minute Maid Park and BBVA Compass Stadium. The project will be adjacent to the Bell Station Metrorail stop, providing access to the Texas Medical Center. SkyHouse Main is the 14th SkyHouse-branded apartment community in the United States following projects in Dallas, Houston, Austin, Atlanta, Tampa, Orlando, Charlotte and Raleigh. The project will generate more than 500 temporary construction jobs and about 50 permanent jobs when finished. Batson-Cook Development …

February 11, 2015

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