FORT WORTH — NorthMarq Capital has arranged $21 million in a bridge loan refinancing for the 312-unit City Parc at Keller, a multifamily complex located at 4421 Ray White Rd. in Fort Worth. Joel Coykendall of NorthMarq's Jacksonville, Fla., office arranged the 3-year loan with a 30-year amortization schedule through G.E. Capital Real Estate.
LEXINGTON, KY. — Louisville, Ky.-based PRG Investments has arranged the $1.47 million sale of two multifamily properties, The Cardinal Crossing and Daniel Court Apartments, located at Versailles Road and Village Drive in Lexington. The properties total 156 units. Fred Sutterlin and Reed Weinberg of PRG Investments represented the seller, First Federal Savings Bank of Kentucky, in the transaction and procured the buyer, DF Investments.
BILOXI, MISS. — CBRE has arranged $23.4 million in refinancing for the 472-unit Arbor View 2, 3 & 4, a multifamily community located near Biloxi. Glenn Housman of CBRE's Orlando, Fla., office secured the 7-year loan on behalf of the borrower, Tallahassee, Fla.-based Arbor Properties.
YULEE, FLA. — NorthMarq Capital has arranged $18.45 million in permanent loan refinancing for the 240-unit Courtney Isle Apartments, located at 86015 Courtney Isles Way in Yulee. Joel Coykendall of NorthMarq's Jacksonville, Fla., office arranged the 5-year loan through Sentinel Asset Management as interest only for 36-months with a 30-year amortization schedule to follow.
SUNNYVALE, CALIF. – A 30-unit West Sunnyvale apartment complex that is located at 1617 Queen Charlotte Drive has sold for $5,550,000. Jamie D’Alessandro and Brian Henry with Cassidy Turley’s Multi-Family Group represented both the buyer and the seller, who remained unnamed.
TAMPA — A five-property REO multifamily portfolio, located in northeast Tampa, has been sold for $1.4 million. The properties, which total 106 units, include Bent Tree, Villa Seville, Towering Pines, Holly Court and Julie Court. Kevin Kelleher, Bob Goldfinger and Darron Kattan of Franklin Street Real Estate Services represented the seller, an unnamed lender who foreclosed on the properties in June of this year, in the transaction and procured the buyer, a local private investment group.
YONKERS, N.Y. — Houlihan Parnes Realtors has arranged financing for a three-story apartment building, located at 609 Van Cortlandt Park Ave. in Yonkers. The property was purchased by a local family business. Jerry Houlihan of Houlihan-Parnes arranged the 10-year loan, which has a 30-year amortization schedule.
SUMMIT, N.J. — Commercial Mortgage Capital has secured $10 million in financing for The Promenade, a three-story apartment and retail property in Summit. Mark Scott of Commercial Mortgage Capital's Livingston office arranged the 10-year loan for the borrower, Summit, N.J.-based Diversified Properties.
HARRISBURG, PA. — Marcus & Millichap Real Estate Investment Services has negotiated the sale of Presidential Halls, 120-unit apartment property in Harrisburg, for $3.4 million. Donald MacLaren, Andrew Townsend and Clarke Talone of Marcus & Millichap's Philadelphia office represented the seller. They also procured the buyer, a local partnership. The property was 20 percent vacant at the time of sale.
AUSTIN — Chicago-based Waterton Residential has acquired the 288-unit Fox Hill Apartments, a Class A multifamily community located at 8800 Hwy. 290 W. in Austin. Waterton purchased the property through its $500 million investment fund, Waterton Residential Property Venture XI. The apartment community features a fitness center, clubhouse, swimming pool with a sundeck, business center, laundry facility, covered parking, detached garages, children's playground and dog park. Waterton was self-represented by Matt Masinter. HFF represented the seller, Houston-based Magill Development, which was also the original developer.
