KATY, TEXAS — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 78-unit seniors housing property in the western Houston suburb of Katy. Opened in 2018, the unnamed property consists of 70 short-term rehab beds and 34 assisted living beds across 78 units. The seller was a privately held investment and development firm. Ignite Medical Resorts acquired the property for an undisclosed price. Amy Sitzman, Michael Segal and Giancarlo Riso of Blueprint brokered the deal.
COON RAPIDS, MINN. — JLL Capital Markets has arranged the sale of Oakmont Apartments in Coon Rapids, a northern suburb of Minneapolis. The sales price was undisclosed. Built in 1974, the 48-unit multifamily property features an onsite laundry facility, garage parking and access to the neighboring Pheasant Ridge Park. Josh Talberg and Bill Mork of JLL represented the seller, Gaughan Cos. The asset was part of Gaughan’s Minnesota Legacy Apartment Portfolio, which consists of nearly 800 units. The buyer was a local private investor.
ELIZABETH, N.J. — Berkadia has negotiated the $4.8 million sale of Marlaw Apartments, a 36-unit multifamily complex located in the Northern New Jersey community of Elizabeth. The property’s unit mix comprises one studio, 17 one-bedroom units and 18 two-bedroom apartments. Nat Gambuzza, Trevor Fiebel, Tim Blashford and Nick Balancia of Berkadia represented the seller and procured the buyer, both of which requested anonymity, in the transaction. The property was fully occupied at the time of sale.
DALLAS — CBRE has arranged the sale of a portfolio of four seniors housing properties in the Dallas metro area. The names of the recently rebranded properties in the portfolio are Village on the Park Plano, Village on the Park Denton, Village on the Park Stonebridge Ranch and Village on the Park McKinney. All properties were built between 2014 and 2017 and offer assisted living and memory care services. The buyer is a joint venture between Artemis Real Estate Partners and Bridgewood Property Co. The seller and sales price were not disclosed. John Sweeny, Aron Will and Garrett Sacco of CBRE brokered the deal.
BINGHAMTON, N.Y. — TSB Capital Advisors has arranged a loan of an undisclosed amount for the refinancing of Twin River Commons, a 371-bed student housing property located near the State University of New York (SUNY) at Binghamton campus. The floating-rate loan was secured on behalf of the borrower, Chicago-based Harrison Street. The community offers units in studio through four-bedroom configurations with bed-to-bath parity. Shared amenities include a fitness center, clubhouse, fireplace lounge with billiards and games, package lockers and an outdoor courtyard and kitchen. The direct lender was not disclosed.
HASLETT, MICH. — REDICO has opened American House Meridian, a 132-unit independent living community in Haslett, an eastern suburb of Lansing. The project team included Cunningham-Limp Development Co. and Banko Design. The four-story property is located at 1673 Haslett Road. Amenities include a fitness center, movie theater room, café, game room and Paul Mitchell salon. The Therapy Institute, a physical, occupational and speech therapy company, is moving into the lower-level retail space in June. Prior to opening, 50 of the community’s units were leased.
DICKINSON, N.D. — Bernard Financial Group (BFG) has arranged a $14.2 million CMBS loan for the refinancing of a 392-unit multifamily portfolio in Dickinson, a city in western North Dakota. Dennis Bernard and Joshua Bernard of BFG arranged the loan on behalf of the borrower, Falcon Heights Owner LLC.
NEW YORK CITY — Locally based brokerage firm and financial intermediary Ariel Property Advisors has arranged a $6 million loan for the refinancing of a portfolio of four multifamily buildings totaling 22 units in Brooklyn’s Bedford-Stuyvesant area. The portfolio, which was fully occupied at the time of the loan closing, includes five commercial units. Matthew Dzbanek, Matt Swerdlow, Rhea Vivek and Anthony Priest of Ariel arranged the nonrecourse, fixed-rate loan, which carried a five-year term and a 30-year amortization schedule. The borrower and direct lender were not disclosed.
BAYONNE, N.J. — Emerald Creek Capital, a New York City-based bridge lender, has provided a $5.4 million loan for the refinancing of a 19-unit apartment building in the Northern New Jersey community of Bayonne. The five-story building at 425-429 Avenue C was constructed in 2023, includes 19 parking spaces and is currently in the lease-up stage. Alex Dobosh and Michael Lee of HKS Real Estate Advisors arranged the loan on behalf of the undisclosed borrower.
SANFORD, FLA. — A partnership between Royal Palm Cos. and Mattoni Group has obtained $86 million in construction financing for Tuscany Village, a 420-unit multifamily development located at 4201 W. First St. in the north Orlando suburb of Sanford. The financing comprises $68 million in debt from a partnership between City National Bank and Abanca USA and $18 million in preferred equity from Origin Investments. The co-developers plan to break ground on the 21-acre project in the coming weeks and deliver the property in phases by 2026.