Multifamily

OCOEE AND ST. PETERSBURG, FLA. — Landmark Apartment Trust of America Inc., a multifamily REIT, has acquired and rebranded two apartment communities in Florida for $53.2 million. Collectively, the two communities total 826 units and are 94 percent occupied. In the first transaction, Landmark acquired Vizcaya Lakes, a 522-unit property located at 1024 Vizcaya Lake Road in Ocoee, a suburb of Orlando. The community is now known as Landmark at Stafford Landing. In the second transaction, Landmark acquired Avondale by the Lakes, a 304-unit community located at 5473 27th St. South in St. Petersburg. The community is now known as Landmark at Avondale. In July, Landmark acquired 11 multifamily communities totaling 3,586 units in Florida, North Carolina, Texas and Tennessee.

LOUISVILLE, KY. — PRG Investments has arranged the sale of the 192-unit, Class C Colonial Oaks Apartments in Louisville for $4.3 million. The property is located at 101 Colonial Oaks Court in southern Louisville off Southside Drive. Reed Weinberg and Fred Sutterlin of PRG Investments represented the seller, New York City-based Intervest Bank, in the transaction. Multifamily owner and manager Goldin Management acquired the property from Intervest Bank.

JACKSONVILLE, FLA. — Hendricks-Berkadia Real Estate Advisors has arranged the $19.2 million sale of Addison Landing Apartments, a 289-unit multifamily community located at 9455 103rd St. in Jacksonville. The community's amenities include a controlled-access gate, swimming pool, fitness center, business center and 24-hour maintenance services. Cole Whitaker, Hal Warren and Jason Stanton of Hendricks-Berkadia represented the seller, Jacksonville Zone LLC, in the transaction. St. Petersburg, Fla.-based WRH Income Properties acquired the property from Jacksonville Zone.

RICHMOND AND CHESTER, VA. — Arbor Commercial Mortgage LLC has arranged two FHA-insured multifamily loans totaling more than $29 million. Hal Reinauer of Arbor's Boston office arranged a 40-year, $22 million construction loan for Shafer Grace, a planned apartment community in Richmond that will include 152 units. The loan features a 40-year amortization schedule. Planned amenities include a fitness center, roof deck, clubhouse, washer/dryer units, garage parking, storage and Internet, phone and cable included in the rent payments. Reinauer also arranged a 37-year, $7.3 million refinance loan for Chesterfield Gardens Apartments, a 105-unit community in Chester, located 17 miles south of Richmond. The loan features a 37-year amortization schedule. Amenities include a clubhouse, 24-hour fitness center, swimming pool, tennis court and playground.