RIVERSIDE, CALIF. – The 588-unit Esplanade at Riverwalk in Riverside has received $63.9 million in first-mortgage refinancing. Financing was based on a 10-year term and a 30-year amortization schedule. It was arranged by Dennis Williams of NorthMarq’s San Francisco regional office on behalf of Sequoia Equities through its affiliate AmeriSphere Multifamily Finance, LLC, a Fannie Mae DUS lender.
DENVER — MIG Real Estate, LLChas purchased the 168-unit Churchill Downs apartments in Denver for an undisclosed sum. The unnamed seller was represented by Doug Andrews, Jeff Hawks, Terrance Hunt, Shane Ozment and Jason Wine ofApartment Realty Advisors(ARA). MIG represented itself in this transaction. The property will be managed by Alliance Residential.
SPARKS, NEV. — The Waterford Apartments, a 240-unit apartment community in Sparks, has sold to a California-based apartment investment firm for $17.1 million. The community is located at 800 Nichols Blvd. The selling group was led by Silverwing Development’s J. Carter Witt III and represented by Kenneth Blomsterberg of Marcus & Millichap.
CHARLOTTE, N.C. — Passco Cos. LLC, a real estate investment firm specializing in the tenant-in-common structure, has acquired The Enclave at Rivergate in Charlotte for $24.8 million. The 216-unit Class A apartment complex is located at 12400 Toscana Way and includes one-, two- and three-bedroom units. Irvine, Calif.-based Passco Cos. received a $13.64 million Fannie Mae loan to finance the acquisition. Southeast Apartment Partners represented the unlisted seller.
CHICAGO — An eight-unit apartment property, located at 3801 West Wrightwood Ave., in Chicago has sold for $555,000. The multifamily building, located in the Logan Square neighborhood, is all brick and comprised of eight two-bedroom units. Ryan Engle and James Ziegler of Marcus & Millichap represented the seller, an individual trust. The buyer, a limited liability company, was also represented by Engle and Ziegler.
CHELMSFORD, MASS. — Beech Street Capital has arranged an $11.3 million Fannie Mae loan for the acquisition of the Carriage House and Coach House Apartments in Chelmsford. Built in the 1960s, the properties are 88 percent occupied and total 149 units. Briar Cliff Management oversees the property. Mike Edelman of Beech Street arranged the 10-year, fixed-rate loan that includes a 30-year amortization schedule.
DENVER — MIG Real Estate, LLC has purchased the 168-unit Churchill Downs apartments in Denver for an undisclosed sum. The unnamed seller was represented by Doug Andrews, Jeff Hawks, Terrance Hunt, Shane Ozment and Jason Wine of Apartment Realty Advisors (ARA). MIG represented itself in this transaction. The property will be managed by Alliance Residential.
SPARKS, NEV. — The Waterford Apartments, a 240-unit apartment community in Sparks, has sold to a California-based apartment investment firm for $17.1 million. The community is located at 800 Nichols Blvd. The selling group was led by Silverwing Development’s J. Carter Witt III and represented by Kenneth Blomsterberg of Marcus & Millichap.
LA JOLLA, CALIF. — In Eden, a 17-unit apartment building in La Jolla, has sold to an unnamed buyer for $8.9 million. The community is located at 600-616 Prospect Street. The seller, a limited liability company, was represented by Aaron Bove and Ben Tashakorian of Marcus & Millichap’s San Diego office. The buyer was represented by Dave Plutner of DP Properties.
GOODYEAR, ARIZ. – The 69-unit Greenwood Apartments in Goodyear has sold to Neil Sechan and Mathew Messner for $3.4 million. The community is located at 1322 N. La Jolla Blvd. The seller, Park Shadows Country Homes, was represented by Brian Smuckler and Jeff Seaman of CBRE’s Phoenix office.