NEW YORK CITY — GFI Realty Services has arranged the $3.6 million sale of 1409-1451 St. Johns Place, two contiguous apartment buildings in the Crown Heights section of Brooklyn. The four-story buildings consist of 40 apartments and approximately 36,000 square feet. Shulem Paneth of GFI Realty Services represented the sellers, two local investors. Yosef Katz, also of GFI, represented the buyer, a local investor.
LOS ANGELES – The 65-unit Culver Vista Apartments in West Los Angeles has sold to Culver Place, LLC for $12.5 million. The community is located at 11730 to 11846 Culver Blvd. The seller, Culver Vista Partners, was represented by Hamid Soroudi of Charles Dunn Company. Soroudi leads Charles Dunn Company’s The Soroudi Group.
COLORADO SPRINGS, COLO. – The 156-unit Bonterra Lakesideapartments in Colorado Springs has sold to Griffis/Blessing for $16.5 million. The community was built in 1973 and renovated in 2007. It was 94 percent occupied at the time of closing. The seller, Hamilton Zanze and Company, was represented by ARA’s Kevin McKenna, Ken Greene, Doug Andrews and Jeff Hawks.
ARVADA, COLO. — NorthMarq Capital has provided $13.6 million to Aukum Management LLC for the purchase of Ridge at Mountain View Apartments in Arvada. The 168-unit community is located at 7865 Allison Way. Financing was arranged by John M. Stewart and Ilan Reissner of the firm’s Denver office.
WASHINGTON, D.C. — Chevy Chase, Md.-based Federal Capital Partners (FCP) has sold the 297-unit Allegro Apartments, located in Washington, D.C.’s Columbia Heights neighborhood, to an institutional buyer. The mixed-use property includes a 247-space underground parking garage and more than 6,000 square feet of retail space. Dave Nachison and Alan Davis of HFF represented FCP.
EAST RUTHERFORD, N.J. — Meridian Capital Group has arranged a $9 million mortgage loan for Station Square Apartments, an 84-unit apartment complex on Van Winkle Street in East Rutherford. Steven Tessler of Meridian arranged the five-year loan at an interest rate of 3.5 percent.
NEW YORK CITY — Ariel Property Advisors has arranged the $2.9 million sale of an apartment building at 505 W. 161st St. in Washington Heights. The 21,732-square-foot property features 30 units. Michael Tortorici, Victor Sozio, Jesse Deutch and Daniel Tropp of Ariel Property Advisors represented the the seller, an institutional investor, in the transaction. They also represented the buyer, a private investment group.
HOUSTON — Berkeley Point Capital has provided a $40 million acquisition loan for the 380-unit AMLI Towne Square Apartments, located in Houston. The property will be renamed Standard on West Dallas. Ed Belz of Berkeley Point's Boston office arranged the seven-year loan through the Fannie Mae DUS lender program on behalf of the borrower, Baron Properties. The borrower plans to spend $4.4 million on capital improvements on the property.
SAN ANTONIO — NorthMarq Capital has secured $13.7 million in acquisition financing for the 384-unit Enclave Apartments, located at 2555 NE Loop 410 in San Antonio. Luke Donahue of NorthMarq's Phoenix office arranged the 10-year loan amortized over 30 years through Freddie Mac on behalf of the borrower, Enclave Communities.
COLORADO SPRINGS, COLO. – The 156-unit Bonterra Lakesideapartments in Colorado Springs has sold to Griffis/Blessing for $16.5 million. The community was built in 1973 and renovated in 2007. It was 94 percent occupied at the time of closing. The seller, Hamilton Zanze and Company, was represented by ARA’s Kevin McKenna, Ken Greene, Doug Andrews and Jeff Hawks.
