TUSCALOOSA, ALA. — NorthMarq Capital has arranged $29.4 million in refinancing for the 210-unit Woodlands of Tuscaloosa Phase II, located at 1100 Hargrove Rd. E. in Tuscaloosa. The student housing development is located near the University of Alabama. Bruce Foster of NorthMarq's Atlanta office arranged the 7-year loan with a 30-year amortization schedule through Freddie Mac.
NEW YORK CITY — The Alcazar, a 26-unit apartment property at 15 Wadsworth Ave. in New York City, has sold for $3.8 million. Peter Von Der Ahe, Scott Edelstein and Sean Lefkovits of Marcus & Millichap's Manhattan office represented the seller, a limited liability company. They also secured the buyer, a limited liability company.
PLANO — Beech Street Capital has closed an $8.25 million Fannie Mae conventional loan to refinance the 232-unit Woodlands of Plano, an apartment complex located in Plano. Joel Mazur of Beech Street's Bethesda, Md., office originated the 5-year financing. The property features 51 two-story buildings and laundry facilities.
LITTLETON, COLO. – The 24-unit Bow Mar Apartments in Littleton has sold to the Rocky Mountain Center for the Blind for $2,415,000. It was built in 1997, and will be occupied by students attending the Colorado Center for the Blind. The Center for the Blind was represented by RC Myles and Craig Myles of Cassidy Turley Fuller Real Estate. Bryan Sperry and Kevin Kohn of Sperry Properties represented the seller, Friendly Property LLC, in this transaction.
KELLER — Cadence McShane Construction Co. has been selected to construct the 78-unit Legacy at Bear Creek, a 51,000-square-foot assisted living and memory care facility located on 6.8 acres at Keller Smithfield Road in the Keller Town Center, a 340-acre mixed-use planned development in Keller. McShane's co-developers are PinPoint Commercial and The 410 Group and Wakefield Beasley & Associates is the project's architectural firm. The property will have a retention pond, outdoor seating areas and walking trails within two courtyards. The facility is slated for a December 2012 completion.
ROCKVILLE, MD. — Meridian Capital Group has secured a $14 million Fannie Mae conventional loan for the 162-unit Woods Edge Apartments, located at 14002 Cove Ln. #201 in Rockville. Jacob Katz of Meridian's Bethesda, Md., office arranged the 10-year, fixed-rate loan with full-term interest only through Beech Street Capital on behalf of the borrower, a Rockville asset development company.
BETHESDA, MD. — Bethesda-based Walker & Dunlop has secured $163.8 million in Freddie Mac financing for four multifamily properties in Connecticut on behalf of Principal Management Partners. The 349-unit Hoyt Bedford Apartments and 238-unit Morgan Manor Apartments are located in Stamford; Seramonte Apartments, 450 units, are located in Hamden; and Montoya Apartments, 133 units, are located in Branford. The loans each carry a 7-year term with 2 years interest-only and a 30-year amortization schedule.
CARROLLTON — LMI Capital has secured $9.36 million in acquisition financing for the 256-unit Parkside Village Apartments, located at 3022 N. Josey Ln. in Carrollton. Chris Pollard of LMI Capital's Dallas office arranged the loan with a 30-year amortization schedule through an undisclosed life insurance company.
LAKEWOOD, COLO. – The 18-unit Byron Apartments has sold to a local buyer for $1,250,000. The complex was built in 1959. Josh Newell of Pinnacle Real Estate Advisors in Denver represented both the buyer and the seller, Paul C. Goebel, in this transaction.
SAN DIEGO – The nine-unit Alabama Manor in San Diego has sold to Steve Lizanich for $1,131,000. It is located at 4543 Alabama Street in San Diego. Chad Bramwell of Hendricks & Partners' San Diego office represented Lizanich. The firm’s Steve Huffmanrepresented the sellers, Richard and Beverly Grim, in this transaction.
