SAN ANTONIO — LMI Capital has arranged a $3.1 million refinancing loan for a 131-unit multifamily property in north San Antonio. Jamie Mullin of LMI Capital arranged the 10-year loan to amortize over 25 years through Fannie Mae. The loan has a fixed interest of 4.19 percent and features 75 percent leverage.
Multifamily
BROOMFIELD, COLO. – The 216-unit Willow Run Village in Broomfield has received $22.1 million in financing. The community is located at12621 N Zuni Street. The fixed-interest rate loan includes a 30-year amortization schedule. Financing was arranged by Charles H. Williams and Jon Reible of KeyBank Real Estate Capital through Freddie Mac for Griffis/Blessing, Inc.
SCOTTSDALE, ARIZ. – A 6.5-acre site inside Scottsdale’s McCormick Ranch development has sold to Standard Pacific of Arizona for $6.5 million. The company plans to develop 60 multifamily units on the Class A location. Standard Pacific was represented by Grant D. Helgeson and Don McCaul of the Westland Properties Group. The seller, Mark-Taylor (MT Victor, LLC), was represented by Greg Hopley of Colliers International’s Scottsdale office in this fee-simple transaction.
ORLANDO — BB&T Real Estate Funding, a subsidiary of Grandbridge Real Estate Capital, has arranged a $13.1 million acquisition and renovation loan for Carlton Arms, a 558-unit multifamily property in Orlando. The nonrecourse financing was structured with a 36-month term with tow, 12-month extensions.
HUDSON COUNTY, N.J. — A 13-property multifamily portfolio has sold to a private investment group for $37.6 million. The portfolio includes seven properties in West New York, five in Union City and one in North Bergen and has a total of 398 units. All of the properties are located within Hudson County, the smallest, but most densely populated county in New Jersey. West Orange-based Feinstein, Raiss, Kelin & Booker LLC arranged the sale.
IRVING, TEXAS — Marcus & Millichap has arranged the sale of the 51-unit Briarcrest Apartments, located at 506 N. Rogers Road in Irving. Boyan Radic of Marcus & Millichap's Fort Worth office represented the seller, a limited liability company, in the transaction.
BROOMFIELD, COLO. – The 216-unit Willow Run Village in Broomfield has received $22.1 million in financing. The community is located at 12621 N Zuni Street. The fixed-interest rate loan includes a 30-year amortization schedule. Financing was arranged by Charles H. Williams and Jon Reible of KeyBank Real Estate Capital through Freddie Mac for Griffis/Blessing, Inc.
SCOTTSDALE, ARIZ. – A 6.5-acre site inside Scottsdale’s McCormick Ranch development has sold to Standard Pacific of Arizona for $6.5 million. The company plans to develop 60 multifamily units on the Class A location. Standard Pacific was represented by Grant D. Helgeson and Don McCaul of the Westland Properties Group. The seller, Mark-Taylor (MT Victor, LLC), was represented by Greg Hopley of Colliers International’s Scottsdale office in this fee-simple transaction.
JACKSONVILLE, FLA. — GoldOller Real Estate Investments has acquired Country Club Lake Apartments in Jacksonville for $56 million. The 555-unit complex is located in the East Jacksonville section of the city and the transaction was part of GoldOller's open-ended apartment fund. The fund, launched in 2010, now includes a portfolio of 6,500 units in seven states, valued at $500 million. Country Club Lake includes three swimming pools, three clubhouses and an adjacent golf course.
MELBOURNE, FLA. — Pollack Shores Real Estate Group has acquired the 252-unit Polo Glen Apartments in Melbourne for $28.2 million. Matrix Residential will manage the Class A gated community. The property is 94 percent occupied and amenities include a heated pool, fitness center, and playground. Kevin Judd of ARA arranged the sale and Stephen Farnsworth of Walker & Dunlop secured a 10-year, Freddie Mac loan for the property. The community is located at 3603 Middleburg Lane.