WILDWOOD, N.J. — U.S. Realty Capital has arranged an $8.2 million non-recourse loan for the refinancing of a manufactured home community on Route 9, just outside of Wildwood. Built in 1997, the property includes 235 pad sites, a swimming pool, playground, basketball courts and a lake for fishing. U.S. Realty arranged the 7-year, fixed-rate loan through a regional bank. The loan contains a 30-year amortization schedule.
HOUSTON — HFF has brokered the sale of the 376-unit Tanglewood at Voss, a Class A, mid-rise multifamily property located at 7510 Burgoyne Road and 2301 S. Voss Road in Houston. Each building of the property includes a clubhouse, resort-style pool and fitness center. The apartment community is currently 96.5 percent leased. Craig LaFollette, Todd Marix, Todd Stewart, Tre Banks and Chris Curry of HFF represented the seller, Behringer Harvard, in the transaction and procured the buyer, Cornerstone Real Estate Advisers.
ROUND ROCK — Marcus & Millichap has arranged the sale of The Links at Forest Creek, a 152-unit, 142,348-square-foot apartment complex located at 20404 Poppy Hills Trail in Round Rock. The property features a clubhouse, fitness center and a resort-style swimming pool. Joe James and Kent Myers of Marcus & Millichap's Austin office represented the local seller in the transaction and procured the California-based buyer. Peter Dunn of Marcus & Millichap Capital Corp.'s Houston office arranged financing.
PHOENIX – The 141-unit Paradise Palms apartments in Phoenix has sold to CalCap Advisors for $4 million. The apartment community was built in 1985 and is located at 17646 North Cave Creek Road. Cliff David and Steve Gebing of Marcus & Millichap’s Phoenix office represented the seller, The Lynd Company, in this transaction.
ORLANDO, FLA. — CNL Healthcare Trust has signed an agreement with Sunrise Senior Living to enter a $226 million joint venture that will own seven seniors housing communities. With the transaction expected to close within 60 days, the joint venture, of which CNL will own 55 percent, will assume ownership of Sunrise of Santa Monica in Santa Monica, Calif.; Sunrise on Connecticut Avenue in Washington, D.C.; Sunrise at Siegen in Baton Rouge, La.; Sunrise of Metairie in Metairie, La.; Sunrise of Gilbert in Gilbert, Ariz.; Sunrise of Louisville in Louisville, Ky.; and Sunrise at Fountain Square in Lombard, Ill.
LOMBARD, ILL. — CNL Healthcare Trust has entered an agreement with Sunrise Senior Living for a joint venture that will own seven seniors housing communities valued at $226 million. CNL will contribute approximately $57 million and will own 55 percent of the joint venture, with Sunrise owning the remainder. The seven communities include Sunrise at Fountain Square in Lombard. Sunrise is currently the sole owner of the seven communities and will continue to operate them under a long-term management agreement. The transaction is expected to close within 60 days.
PARIS — The Ensign Group has purchased the 150-bed Paris Nursing & Rehabilitation Center, a skilled nursing facility located at 2900 Stillhouse Road in Paris. The facility is currently 59 percent occupied. The facility is Ensign's 105th healthcare property.
KERNERSVILLE, N.C. — Hawthorne Residential Partners has purchased the 200-unit The Meadows apartment community, located in Kernersville, from Greenville, S.C.-based Meridia for $18.6 million. The Class A complex is 95 percent leased and features a resort-style swimming pool with a cabana and grilling area, fitness center, clubhouse with a billiards room and business center. Jordan McCarley with Southeast Apartment Partners' Charlotte, N.C., office represented the seller in the transaction.
CHATTANOOGA, TENN. — Beech Street Capital has closed a $23.5 million HUD 223(f) loan to refinance the 316-unit Carriage Parc Apartments, located in Chattanooga. Chad Thomas Hagwood with Beech Street’s Birmingham, Ala., office arranged the 35-year loan with a 35-year amortization schedule.
CALHOUN AND RINGGOLD, GA. — Capital Advisors has arranged $7.5 million in refinancing for Ringgold Square in Calhoun and Red Bud Shopping Center in Ringgold, two 43,000-square-foot, Food Lion-anchored shopping centers. Matt Good of Capital Advisors arranged the 10-year loan with a 30-year amortization schedule on behalf of the borrowers, Red Bud Properties and Ringgold Partners, through CIBC.