SAN FRANCISCO – The 24-unit Antoinette Apartments in South San Francisco has sold to an unnamed buyer for $3.8 million. The community is located at 942 Antoinette Lane. Tony Jalili of Marcus & Millichap’s Oakland office represented the seller, a private investor, in this transaction.
ALBUQUERQUE, N. MEX. – The 232-unit La Ventana apartment complex in Albuquerque has sold to MPLA Ventana Apartments LLC for an undisclosed sum. The community is located at 12200 Academy Road NE. Hendricks & Partners’ Bill Fox, Art Wadlund, Mark Forrester and Ric Holway represented the seller, GFPG 12200 Academy Road ABQ II, LLC, in this transaction.
RALEIGH, N.C. — Federal Capital Partners and Kane Realty Corp. have formed a joint venture to build the $53 million, 400-unit Ramblewood Apartments, a luxury complex located in North Hills, a mixed-use development in Raleigh. Amenities will include a pool, fitness center, business center, outdoor terrace, community room and green spaces. Construction is slated to begin in the third quarter of 2012.
COLUMBIA, S.C. — The 220-unit Tamarind at Stoneridge Apartments, located at 143 Stoneridge Dr. in Columbia, has sold for $10 million. Amenities include a swimming pool, tennis courts and a fitness center. Jim Sewell and Steve Mack of Hilton Head, S.C.-based Coastal Apartment Advisors represented Tamarind Hollows, the seller, in the transaction. The buyer was CRESOF Tamarind.
WASHINGTON, D.C. — NorthMarq Capital has arranged $15.45 million in first mortgage refinancing for the 398-unit Vista Ridge Apartments, an affordable housing community located in Washington, D.C. Melissa Marcolini Quinn and Robert Rothaug of NorthMarq's Orlando, Fla., office arranged the 10-year loan with a 30-year amortization schedule through Freddie Mac.
TOPEKA, KAN. — IRET Properties, the operating partnership of Investors Real Estate Trust, has completed the purchase of Villa West Apartments in Topeka for $17.6 million. The property includes 44 apartment buildings with 308 apartment units. As part of the company's strategic plan to own 10,000 units in its top 10 core markets, the acquisition brings the total number of units owned by IRET in the Topeka market to 1,042. The company also announced construction is nearly complete on its 159-unit Quarry Ridge II apartment development in Rochester, Minn.
NEW YORK CITY — Marcus & Millichap has arranged the $1.9 million sale of 143 N. 8th St., a 10-unit apartment building in Brooklyn. Shaun Riney of Marcus & Millichap's Brooklyn office represented the buyer, a private investor, in the transaction.
ATLANTA — The 312-unit Axis at Perimeter, a Class AA apartment community located at 8 Perimeter Center E. in Atlanta, has sold for $53.5 million, according to DeKalb County records. Amenities include a resort-style pool with cabanas and an outdoor living room with fire pit. The property is 94 percent leased. Derrick Bloom, David Gutting and Elliot Howell of Jones Lang LaSalle represented Lane Co., the seller, in the transaction.
DELRAY BEACH, FLA. — Wood Partners has plans to break ground in July on the $26.9 million, 116-unit Midtown Delray, an apartment complex located at 4200 Old Germantown Rd. in Delray Beach. Completion is slated for September 2013. Amenities will include a clubhouse, swimming pool and tot lot. Current Builders is the general contractor for the project, AW Architects is the architect, Michael B. Schorah & Associates is the civil engineers and Urban Design Kilday Studios will design the landscape.
PARKER, COLO. — JRK Property Holdings has purchased the 325-unit Briargate on Main apartment community in Parker for an undisclosed sum. The community was built in 2003 and was 93 percent occupied at the time of sale. The seller, Colony Realty Partners, was represented by Doug Andrews, Jeff Hawks, Shane Ozment and Terrance Hunt of ARA Colorado.