Multifamily

NORTH MIAMI, FLA. — Marcus & Millichap has completed the sale of a North Miami multifamily portfolio for $14.65 million. The Royal Properties Portfolio comprises five properties totaling 233 units that were constructed between 1964 and 1971. They include: Royal Vista, a 59-unit property located at 400 NE 137th St.; Royal Place, a 55-unit property located at 14050 NE 6th Ave.; Royal Village, a 51-unit property located at 13055 NE 6th Ave.; Royal Point, a 44-unit property located at 1525 NE 125th St.; and Royal Courtyard, a 24-unit property located at 13020 NE 6th. Ave. The properties were extensively renovated in 2011 and 2012. Still Hunter, III; Evan Kristol; and Felipe Echarte of Marcus & Millichap’s Ft. Lauderdale office represented the seller, a limited liability company managed by CFH Group. The same team partnered with Mark Thompson of Marcus & Millichap’s Orlando office to represent the undisclosed buyer.

COLUMBIA, S.C. — Colliers International has brokered the sale of a Class A apartment community in Columbia. Constructed in 2008, Preserve at Spears Creek is located at 325 Spears Creek Church Road. It contains 240 units in a mix of one-, two- and three-bedroom apartments. Amenities include a resort-style swimming pool, a fitness center, a computer lounge and a media room. Ron Cameron and Will Mathews of Colliers International’s Atlanta office represented the seller, Spears Creek Partners LLC. The buyer, Nashville, Tenn.-based Carter-Haston, provided in-house representation. The acquisition price was not released.

WASHINGTON, D.C. — UIP General Contracting has completed the $4.5 million renovation of the Takoma Flats apartment community in Washington, D.C. The general contractor created 17 new units, bringing the community’s total to 88 units. Additional work included upgrading building HVAC and electrical systems, renovating all unit interiors, and creating in-ground patios for terrace-level units. UIP completed the work for Rock Creek Property Group and Baybridge Group, which purchased the property in November 2011.

CHARLOTTE, N.C. — Woodfield Investments has acquired a nearly 3.9-acre site for $4.53 million with plans to construct the 250-unit Mercury NoDa, a transit-oriented apartment community in the Charlotte neighborhood of NoDa. NoDa, short for North Davidson, is Charlotte's historic arts district. The development will be built along the planned extension of the city's light rail system that will extend north of Uptown to the UNC Charlotte university area. Beau McIntosh, Brian Ford and Andrew Klenk of Capstone Apartment Partners represented the seller, a Charlotte-based private developer, in the land transaction.