HOMESTEAD, FLA. — Deerfield Beach, Fla.-based SIKON Construction Co. has completed the $10 million, 99-unit Veranda Senior Apartments, a seniors housing facility located at 28355 SW 152nd Ave. in Homestead. HTG Veranda Senior Ltd. developed the property. Amenities include a leasing office/clubhouse and a swimming pool.
BOLINGBROOK, ILL. — The LaSalle Group has announced plans to build a $10.2 million memory care assisted living community at 351 Lily Cache Lane in Bolingbrook. The 26,000-square-foot Autumn Leaves of Bolingbrook will serve residents living with Alzheimer's and dementia. The LaSalle Group is partnering with RT Partners and local lender, BMO Harris Bank, on the project. The community is expected to open in the third quarter of 2013.
NEW YORK CITY — A portfolio of six multifamily buildings in Brooklyn has sold for $7.3 million. The buildings, which are all in or within close proximity to the Stuyvesant Heights Historic District, are located at 654 Putnam Ave.; 419-21 Marcus Garvey Blvd.; 319 Malcolm X Blvd.; and 804 and 814 Macon St. The portfolio consists of 47 apartments, 38 of which have been fully renovated with new kitchens and bathrooms. The properties total 37,950 square feet. Michael Amirkhanian of Massey Knakal represented both parties in the transaction.
PHILADELPHIA — Beech Street has arranged a $10.5 million Fannie Mae loan for the refinancing of Cricket Court Commons, a 228-unit Low-Income Housing Tax Credits apartment complex in Philadelphia. David Cohen and Ben Brown of Meridian Capital Group originated the 10-year loan. Cricket Court was built in the 1930s and underwent a major renovation in 2000. The property is located in the Germantown neighborhood, approximately six miles north of Philadelphia's Center City.
HOUSTON — Marcus & Millichap has arranged the sale of Buffalo Terrace, an apartment complex located near Montrose Boulevard and Allen Parkway in Houston. Sheri Carey of Marcus & Millichap's Houston office represented both the seller and buyer, both limited liability companies, in the transaction.
IRVING — Transwestern has brokered the sale of the 130-unit Tanner Place, an apartment community located at 3327 Willow Creek Drive in Irving. The complex includes eight two-story garden-style buildings. Mark Freeman, Taylor Snoddy and Philip Wiegand of Transwestern's Dallas office represented the seller, a special servicer client, in the transaction. HDC Agave Hill Country Equities was the buyer.
ORLANDO, FLA. — The 240-unit Silver Pines Apartments, a garden-style multifamily community located at 5402 Pine Chase Drive in Orlando, has sold for $6.26 million. Cole Whitaker, Hal Warren and Jason Stanton of Hendricks & Partners represented the seller, a Dallas-based special servicer, in the transaction.
STAMFORD, CONN. — Axiom Capital has arranged a $69 million construction loan for a 314,518-square-foot apartment complex in Stamford. The Class A building will include 344 apartments, 17,489 square feet of retail and clubhouse space and a two-story parking garage. The building is located within blocks of the North American headquarters of UBS and the Royal Bank of Scotland. Other major employers in the area include GE, Xerox and Reuters.
BURNSVILLE, MINN. — Ebenezer Management Services will breark ground on a $12 million addition to Arbors at Ridges, an assisted living community in Burnsville, later this month. The community currently offers 44 senior apartments. Kraus-Anderson Construction will construct a three-story building that will house 63 assisted living units. The new campus will also feature gardens, walking paths, a movie theater, library, barber shop, clubroom, chapel and coffee shop. The addition is slated for completion in the spring of 2013. Sperides Reiners Architects is designing the project.
OXFORD, MISS. — Carter and Chance Partners plan to build the $39 million, 750-bed The Highlands, a student housing community located at the University of Mississippi in Oxford. The development will include a town square with roughly 15,000 square feet of retail and amenity space and a large clubhouse. Amenities will include a coffee shop, three swimming pools, fitness center with tanning facilities, a basketball court, car wash and dog wash station, a dog park, sand volleyball and other outdoor activities such as bocce ball and horseshoes. Regions Bank is providing construction financing for the project, Reese Vanderbilt is the architect and Apex Cos. is the contractor. Completion is slated for July 2013.