FORT WORTH — Marcus & Millichap has arranged the sale of the 82-unit Woodlake Apartments, located at 1404 Weiler Blvd. in Fort Worth. Boyan Radic and Brian Roosth of Marcus & Millichap's Fort Worth office represented the seller, a Chicago-based limited liability company, and procured the buyer, a New York-based limited liability company, in the transaction. The buyer plans to renovate the property's interior rooms as well as upgrade the exterior with new roofs, landscaping and paint.
SUITLAND, MD. — Meridian Capital Group has arranged $16.3 million in acquisition financing for the 315-unit Parkway Terrace Apartments, located at 3415 Parkway Terrace Dr. in Suitland. Jacob Katz of Meridian's Bethesda, Md., office secured the 10-year loan with 2.5 years of interest only through Beech Street Capital.
HOUSTON — HFF has secured acquisition financing for the 227-unit Meyergrove Apartments, located at 4605 N. Braeswood Blvd. in southwest Houston. The seven-building community is currently 99 percent occupied. Colby Mueck of HFF's Houston office led the team, which arranged the 10-year FNMA loan through Greystone Servicing Corp. on behalf of the borrower, Rockwell Management Corp.
CHARLOTTE, N.C. — Greensboro, N.C.-based Bell Partners has acquired the 214-unit Morrison at South Park Apartments, located at 721 Governor Morrison St. in Charlotte. Amenities include a pool, fitness center, clubroom and courtyards. The buyer plans to upgrade several of the amenities and renovate all units.
MIAMI BEACH, FLA. — Marcus & Millichap has arranged the $6.75 million sale of the 96-unit Croydon Arms, a vacant apartment building located at 3720 Collins Ave. in Miami Beach. Felipe Echarte and Joseph Thomas of Marcus & Millichap's Fort Lauderdale, Fla., office represented the buyer, a Miami Beach-based private investor, in the off-market transaction.
NEW YORK CITY — A six-unit apartment building between Norman and Nassau avenues in Brooklyn's Greenpoint neighborhood has sold for approximately $975,000. The three-story building consists of 4,950 square feet. The buyer plans to renovate the property. Mark Lively and Brendan Maddigan of Massey Knakal Realty Services represented the undisclosed seller in the transaction.
CARSON CITY, NEV. – The 98-unit Royal Vista Apartments in Carson City has sold to a limited liability company for $2.1 million. The complex was built in 1978 and resides at 3230 Imperial Way. The buyer was represented by Jerry Wise of Marcus & Millichap’s West Los Angeles office. The seller, One West Bank, was represented by Kenneth N. Blomsterberg of Marcus & Millichap’s Reno, Nev., office.
NEW PORT RICHEY, FLA. — A 43-unit, three-building apartment portfolio, located at 5528 Executive Dr. in New Port Richey, has sold for $1.17 million. Michael Regan, Francesco Carriera and Nicholas Meoli of Marcus & Millichap's Tampa, Fla., office, represented both parties in the transaction.
NASHVILLE, TENN. — Meridian Capital Group has secured $14.6 million in financing for three apartment complexes located in the Nashville MSA. The properties include Cedar Ridge, Green Wood and Meadow Wood. Jacob Katz of Meridian Capital Group's Bethesda, Md., office arranged 10-year loans with 9.5 yield maintenance and a 30-year amortization schedule through Beech Street Capital on behalf of the borrower, CAPREIT.
INDIANAPOLIS — Beech Street Capital has arranged a $10 million Fannie Mae loan for the acquisition of Emerson Lakes Village Apartments in Indianapolis. The 352-unit complex is currently 96 percent occupied. About 10 percent of the tenants attend Indiana University — Purdue University Indianapolis. Amenities include a pool, fitness room and playground. Barry Lefkowitz and Jay Jacobovitch of Meridian Capital Group originated the 10-year loan, which has a 30-year amortization schedule.
