HOUSTON — Transwestern's Houston office has arranged the sale of two Houston apartments, the 182-unit Oaks of Westchase and the 149-unit Clarke Springs. Mosaic Residential purchased Oaks of Westchase, located at 2851 Wallingford, in an off-market transaction with Pacifica L 49 LLC, the seller. A private investment group purchased Clarke Springs, located at 15706 Clarke Springs Drive, from SCG Multi Apts. Holdings LLC, the seller. Transwestern represented the sellers in both transactions.
LOS ANGELES — A 128-unit apartment complex located at 930 S. Bonnie Brae in Los Angeles has sold to 930 S. Bonnie Brae, LLC for $10.8 million. The buyer represented itself in this transaction, while the seller, Melrose Camerford Partners, LLC, was represented by Hamid Soroudi of Charles Dunn Company.
PHOENIX — Vista Del Monte, a 175-unit apartment complex in North Central Phoenix, has sold to Bean Rio Salado Equity, LLC for $6.3 million. The community is located at 7750 N. 12th Street. The units were assembled from a broken condominium project. They were sold by Robert Guina of 3646 AZ, LLC as apartments through 21 separate transactions. The sale was executed by Todd Braun of Lee & Associates Arizona and the Braun Apartment Group.
ANAHEIM, CALIF. — TSG-Platinum, L.P. has received a $9.9-million loan to acquire and re-entitle 4.3 acres of infill land in Anaheim’s Platinum Triangle. The site contains two separate but contiguous parcels that were entitled in 2008. The non-recourse loan features a two-year term, a fixed interest rate and one year-long extension option. The loan represents 88 percent of the site’s purchase price. The funds were provided by Lucent Capital.TSG is an affiliate of the Shopoff Group.
WASHINGTON, D.C. — A 23-unit apartment property has sold for approximately $1.5 million in Washington, D.C.’s Petworth submarket. It is located at 3921 Kansas Ave. and was built in 1952. Twenty units were occupied at the time of the sale. Peggy Brooks Smith and Marty Zupancic of Marcus & Millichap represented the seller, an unlisted partnership, and also secured the buyer, an unlisted private investor.
ST. LOUIS — Marcus & Millichap has arranged the $9.2 million sale of Surrey Court at D'Adrian Meadows, a 248-unit apartment community in St. Louis. The property is located at 1233 Surrey Court and consists of 62 four-plex buildings. The average unit size is 865 square feet with an average rent of $532 per month. David Gaines and Alex Blagojevich of Marcus & Millichap represented the seller, a partnership, in the transaction. They also represented the buyer, a private investor.
INDIANAPOLIS — Johnson Capital has arranged a $22.1 million refinancing loan for Overlook at Valley Ridge, a 324-unit apartment complex in Indianapolis. The owners are a family business with several properties in the area. Scott Graber of Johnson Capital arranged the 35-year FHA loan through Huntoon Hastings, a subsidiary of Johnson Capital. The new debt was used to refinance an existing FHA loan.
BRIDGEPORT, CONN. — Houlihan-Parnes Realtors has arranged a $3.7 million loan for the acquisition of eight garden-style apartment buildings in Bridgeport. The borrower acquired the assets from U.S. Bank for $5 million. The properties total 160 units and include laundry facilities and on-site parking. Jerry Houlihan of Houlihan-Parnes arranged the three-year loan, which amortizes over 30 years, through a New Jersey-based bank.
SAN ANTONIO — Crossbeam Concierge, a Bethesda, Md.-based real estate investment and development firm, has delivered the 270-unit Villas at Mira Loma, a Class A multifamily community located in San Antonio's Live Oak submarket at 15400 Lookout Road. The development is Crossbeam Concierge's first ground-up development project since 2007. Crossbeam Concierge purchased the development site from Bryan-based Godfrey Residential Group, which developed the community. The community features a resort-like Water Plaza with a pool and sundeck, a fitness center and clubhouse. Dallas-based BGO Architects designed the community and Comerica Bank provided construction financing.
ANAHEIM, CALIF. — TSG-Platinum, L.P. has received a $9.9-million loan to acquire and re-entitle 4.3 acres of infill land in Anaheim’s Platinum Triangle. The site contains two separate but contiguous parcels that were entitled in 2008. The non-recourse loan features a two-year term, a fixed interest rate and one year-long extension option. The loan represents 88 percent of the site’s purchase price. The funds were provided by Lucent Capital.TSG is an affiliate of the Shopoff Group.
