DALLAS — Walker & Dunlop has provided $6 million in financing for the 357-unit Villas at Montierra, an affordable housing property located in Dallas. Walker & Dunlop arranged the 10-year loan with a 30-year amortization schedule. The property was 88 percent leased and features a playground, laundry facilities, a courtyard, picnic area with barbecue grills, mail center, access gates and two swimming pools.
MIAMI BEACH, FLA. — Ram has sold the 118-unit Alton Pointe, located at 1920 Michigan Ave. in Miami Beach. The company recently finished renovating the property, including modernizing interiors and upgrading the grounds, as well as the addition of green spaces, a pool and patio area. The property is 96 percent leased.
ORLAND PARK, ILL. — Indianapolis developer Flaherty & Collins has broken ground on a 295-unit apartment complex in Orland Park, which is slated for completion in the spring of 2013. The project is part of a multi-phase Main Street triangle development, which will include retail and residential properties. The Village of Orland Park owns the 32-acre parcel, which is bound by La Grange Road on the east, 143rd Street on the south and the Metra Southwest Line on the west. The Village Board of Orland Park recently selected Chicago-based HSA Commercial Real Estate as its development consultant for the project.
STAMFORD, CONN. — Parallel 41, a 124-unit apartment building at 1340 Washington Blvd. in Stamford, is slated to open this June. Residents will have access to a game room, health club and roof deck, which features an outdoor kitchen, grills and flat-screen TVs. Parallel 41's interior spaces were designed by Julia L. Walters-Curanaj IID of JL Design Associates. TRIO Properties LLC will manage the property and the developer is RMS Cos.
DALLAS — Englewood Cliffs, N.J.-based Deerwood Real Estate Capital has secured a $6.3 million loan for a 300-unit multifamily property, located in Dallas. David Rosenberg and Mark Silbersher of Deerwood arranged the 10-year loan with a 30-year amortization schedule.
SHERMAN OAKS, CALIF. — Shaffer Enterprise LLC has purchased two multifamily properties in Sherman Oaks for a total of $2,525,000. The properties, both of which contain seven units, are located at 13508 and 13514 Burbank Blvd. They were built in 1986. Jeff McGuire of Lee & Associates-LA North/Ventura represented both the buyer and the seller, IFT Properties LLC, in this all-cash transaction.
CLEARWATER, FLA. — Marcus & Millichap has arranged the $8.8 million sale of the 184-unit Oak Creek, an apartment complex located at 2175 62nd St. N. in Clearwater. The property is 96 percent leased. Amenities include three on-site laundry facilities, a playground and a swimming pool. Michael Regan and Francesco Carriera of Marcus & Millichap's Tampa, Fla., office represented the seller, a private investor, in the transaction and procured the buyer, who was also a private investor.
COLUMBIA, ILL. — TMMPRO LLC has sold a 25,200-square-foot apartment building in Columbia, about 12 miles south of St. Louis, for an undisclosed amount. The 36-unit property is located at 109 Hawthorne Place. BARBERMurphey Group represented the buyer, Anthony and Susan Hanlin, in the transaction. They also represented the seller.
WYNDHAM, CONN. — Beech Street Capital has arranged a $5.4 million Freddie Mac loan for the refinancing of Wyndham Park Townhomes, a 104-unit townhome apartment complex in Wyndham. Brian Sykes of Beech Street's Boston office originated the loan for the borrower, Jeffrey Libert. The 10-year, fixed-rate loan has a 30-year amortization schedule.
LUBBOCK — Beech Street Capital has funded a $6.3 million Fannie Mae ARM 7-6 loan for the refinancing of the 232-unit Canyon Crossing, a multifamily property located in Lubbock. Jacob Katz of Meridian Capital Group's Bethesda, Md., office arranged the 7-year loan with 2 years of interest only and a 30-year amortization schedule through Beech Street.
