SAN ANTONIO — Hendricks & Partners has brokered the sale of the 200-unit Reserve in Alamo Heights, an apartment community located at 8446 Country Village St. in San Antonio. Mike Miller, Chris Ross and Will Caruth of Hendricks & Partners' San Antonio office represented the seller, Miami Beach, Fla.-based JPMCC 2006-LDP9 Alamo Heights LC, in the transaction. The buyer was an out-of-state investor.
CLEARWATER, FLA. — Colliers International has launched it's National Student Housing Group, based in Clearwater. Dorothy Joffe Jackman and Travis Prince have been hired as managing directors of the newly formed group to serve clients nationwide. The company will continue to hire additional real estate professionals to join the student housing practice.
HUNTSVILLE, ALA. — Walker & Dunlop has arranged $24.7 million in refinancing for the 334-unit Bridgewater Apartments, located at 1501 Old Monrovia Rd. in Huntsville. The 10-year loan has a 30-year amortization schedule and was provided by Fannie Mae. Troy Marek of Regions' Real Estate Capital Markets originated the loan and Will Baker of Walker & Dunlop's Bethesda, Md., office led the Walker & Dunlop team.
CHICAGO — MetLife Inc. has purchased the 29-story EnV apartment tower in Chicago for a reported $125 million. The seller, Lynd Development Partners, developed the 249-unit tower, which is across the street from the Merchandise Mart in the North Loop. The tower includes one- and two-bedroom apartments and 27,000 square feet of retail and restaurant space. CBRE’s Chicago office represented the seller in the transaction.
NEW BRUNSWICK, N.J. — The Vue, a 23-story mix of condominiums and luxury rental residences, has opened in New Brunswick. The first eight stories consist of 57,000 square feet of retail space, including a Barnes & Noble and a Brother Jimmy's BBQ restaurant. The 14-story residential tower includes 150 rental residences and 42 penthouse condominiums. Occupancy for the residential homes is expected in February. Designed by Manhattan-based Meltzer/Mandl Architects PC, the building's exterior features a multi-toned red brick and white facade. The Vue was developed by New Brunswick Development Corp. and Pennrose Properties.
GRAND PRAIRIE — NorthMarq Capital has secured $16.3 million in first mortgage financing for the 300-unit Indigo Pointe, a multifamily community located in Grand Prairie. Jeff Frankel of NorthMarq's Chicago office arranged the 4-year loan through a correspondent life insurance company.
NORTH PORT, FLA. — The 346-unit Toledo Club Apartments, located at 3565 Island Club Dr. in North Port, has sold for $23.52 million. Amenities include two clubhouses, a Wi-Fi business center, two fitness centers, two pools, a spa, illuminated tennis courts, a volleyball court, a dog park and a car care center. Jamie May of Institutional Property Advisors' Tampa, Fla., office represented the seller, Mt. Horeb, Wis.-based The Gallina Cos., in the transaction and procured the buyer, West Springfield, Mass.-based Aspen Square Management.
HOMESTEAD, FLA. — Coral Gables, Fla.-based Continental Real Estate Cos. (CREC) has arranged the $5.22 million sale of 79 condo units, located in the 252-unit Caribbean Isles Villas Condominiums, located at 376 NE 26th Terrace in Homestead. The units were approximately 90 percent occupied at the time of the sale. Peter Mekras of CREC represented 13th Floor Investments, the seller, in the transaction.
CHICAGO — NorthMarq Capital has arranged $21 million in first mortgage refinancing for Williams Reserve, a multifamily property located at 1245 Prairie Brook Dr. in Palatine, Ill. The property consists of 320 units, 30 percent of which are affordable housing, and a small retail center. Financing was based on a 7-year term and a 30-year amortization schedule. Sue Blumberg, managing director of NorthMarq’s Chicago office, arranged the financing through its seller-servicer relationship with Freddie Mac.
RENSSELAER, IND. — Marcus & Millichap has brokered the sale of The Panda Garden Apartments, a 52-unit apartment property located in Rensselaer. The asking price was nearly $2.3 million, but the final sales price was not disclosed. Jim Walsh and Michael H. Wernke, investment sales specialists in Marcus & Millichap’s Indianapolis office, represented the seller, a local limited liability company. The two also represented the buyer, a local developer.
