VAN NUYS, CALIF. – The 25-unit Vose Manor in Van Nuys has sold to Vose Regency Apartment, LLC for $4.1 million. The community is located at 15329 Vose Street. Ziv Kozaski and Michael Dixon of NAI Capital’s Encino office represented both the buyer and the seller, Vose, LLC and C.F. Saticoy, in this transaction.
SAN JOSE, CALIF. — Chateau La Salle, a 434-unit housing community in San Jose, has received $43.8 million in financing. It is located at 2681 Monterey Road. The 10-year, fixed-rate loan has a 30-year amortization schedule. The Fannie Mae Delegated Underwriting and Servicing (DUS) Loan was originated by Tim Thompson of Greystone’s San Francisco office. The deal was brought to Greystone by Robert Mallett, of Marcus & Millichap Capital Corporation.
FORT LAUDERDALE, FLA. — The Morgan Group has broken ground on a 331-unit mid-rise apartment development in Flagler Village in Fort Lauderdale. Morgan acquired the site, which is located just north of the Las Olas River, in December 2012. The first move-ins are projected for summer 2014. The project marks the company's return to South Florida and its first development in Broward County. “We were very active in the area until the late 1990s and are looking forward to growing our presence here once again,” says Mike Morgan, CEO and chairman of The Morgan Group. “The area is ripe for residential units and amenities that are designed specifically with urban professionals in mind.”
JACKSONVILLE, FLA. — Marcus & Millichap has arranged the $8.4 million sale of Oakwood Villas, a 200-unit apartment property in Jacksonville. The property, located at 8201 Kona Ave., consists of 50, four-unit buildings. Kevin Morris of Marcus & Millichap represented the seller, a limited liability company, in the transaction.
NEW YORK CITY — HFF has closed the sale of 166 W. 75th Street, a 207-unit multifamily property with 3,425 square feet of ground-floor retail on Manhattan’s Upper West Side. HFF marketed the property exclusively on behalf of the seller. The 16-story building is located near the intersection of Amsterdam Avenue and 75th Street close to Central Park, Riverside Park, Lincoln Center and the 72nd Street Subway Station. Simon Development Group purchased the asset and intends to renovate the property. Jeff Julien, KC Patel, Andrew Scandalios, Jose Cruz and Kevin O’Hearn led the HFF team representing the seller. The sales price was undisclosed.
SAN ANTONIO AND NORTHLAKE, TEXAS — Dallas-based SWBC Real Estate LLC has sold three of its multifamily communities in Northlake and San Antonio for approximately $100 million. The communities include the 288-unit Dry Creek Ranch in Northlake, the 304-unit Mission Hills in San Antonio and the adjacent 329-unit Evans Ranch. Will Balthrope and Drew Kyle of Institutional Property Advisors represented the seller in the Dry Creek Ranch sale. Calgary-based Western Securities Limited purchased Dry Creek Ranch. Boston-based TA Associates purchased both Mission Hills and Evans Ranch. Additionally, SWBC plans to break ground on Overlook Ranch later this year. The Class A, 318-unit community will be located in the AllianceTexas development in north Fort Worth.
SAN ANTONIO — Criterion Property Co. LP has opened a new luxury living community in midtown San Antonio called 1800 Broadway, located at its namesake address. The 230-unit community is more than 50 percent leased and is located close to downtown San Antonio, the revitalized Pearl Brewery development, the River Walk, Alama Heights neighborhood and Fort Sam Houston. The community features one- and two-bedroom plans, as well as townhomes. Amenities include three outdoor living areas, a resort-style pool courtyard, oversized fireplace, outdoor grilling kitchen and a courtyard next to a river. The community also features “The Cave,” a covered space with a wet kitchen, flat screen TVs, bar games and free Wi-Fi.
SAN JOSE, CALIF. — Chateau La Salle, a 434-unit housing community in San Jose, has received $43.8 million in financing. It is located at 2681 Monterey Road. The 10-year, fixed-rate loan has a 30-year amortization schedule. The Fannie Mae Delegated Underwriting and Servicing (DUS) Loan was originated by Tim Thompson of Greystone’s San Francisco office. The deal was brought to Greystone by Robert Mallett, of Marcus & Millichap Capital Corporation.
FAIRFAX, VA. — Crow Holdings Capital Partners LLC has secured an $86.8 million acquisition loan for Monument Park, a 460-unit Class A apartment community in Fairfax. The property is located at 4457 Oakdale Crescent Court and units average 1,014 square feet. Community amenities include a clubhouse, resort-style swimming pool, fitness center, pub room and jogging trails. Whitaker Johnson, Andy Scott and Cary Abod led the HFF team that arranged the 10-year, fixed-rate loan through TIAA-CREF.
BALTIMORE — The Greens at Irvington Mews, a 100-unit residential community for seniors and adults with disabilities, has opened in the Irvington neighborhood of southwest Baltimore. Enterprise developed the four-story property, which includes 5,000 square feet of common area space, a fitness center, TV lounge, computer center and community room. The $16 million property is located across from Mount Saint Joseph High School. Hord Coplan Macht designed the development, which includes energy-efficient features, such as Energy Star appliances and water-conserving plumbing features. Harkins Buildings Inc. served as contractor. The project was financed largely through the federal Low-Income Housing Tax credit program.