KENNESAW, GA. — CBRE has brokered the $47.5 million sale of the 446-unit AMLI at Barrett Lakes, located at 1950 Barrett Lakes Blvd. in Kennesaw. Kevin Geiger of CBRE's Atlanta office represented the seller, the original developer, in the transaction. The buyer was Barrett Heights Apartment Homes.
PLANTATION, FLA. — Marcus & Millichap has arranged the $8.81 million sale of the 167-unit The Landmark Towers, an apartment community located at 601 NW 42nd Ave. in Plantation. Tal Frydman and Felipe Echarte of Marcus & Millichap's Fort Lauderdale, Fla., office represented the seller, a New York City-based limited liability company, in the transaction and procured the buyer, a partnership from Philadelphia and New York.
MIAMI, TAMARAC AND JACKSONVILLE, FLA. — LYND has purchased the $49 million unpaid principle balance on three notes for three multifamily properties in Tamarac, Miami and Jacksonville from Miami Beach, Fla.-based LNR Property. The three properties have a total of 945 units.
TAMPA, FLA. — Franklin Street Real Estate Services has arranged the sale of the note and mortgage collateralized by the 48-unit Palma Sur Apartments, located at 3729 W. Tyson Ave. in Tampa. Kevin Kelleher, Bob Goldfinger and Darron Kattan of Franklin Street's Tampa office represented the seller, a national lender, in the transaction and procured the buyer, local private investors.
BROOKLYN — GFI Realty Services Inc. has completed the $22 million sale of 3101 and 3115 Ave. in Brooklyn. The apartment buildings include a total of 154 units. GFI Realty Services brokered both sides of the transaction. Yanni Simantov represented the seller, Elias Mallouk Realty and Josh Orlander represented the buyer, the Parkoff Organization.
SAN ANTONIO — Arizona-based MC Cos. has purchased the 250-unit Shadow Valley Apartments, a Class B garden-style community located at 5650 Grissom Rd. in San Antonio. MC Residential will manage the community after capital improvements are completed. The property will be renamed The Place at Shadow Valley. Financing for the acquisition was provided by a Fannie Mae loan through Wells Fargo.
OLYMPIA, WASH. – The 40-unit Summers Manor Luxury Condominiums in Olympia has sold to an unnamed limited liability company for $5,050,000. The complex was fully renovated in 2006 and 2007. Scott Morasch of Marcus & Millichap’s Seattle office marketed the listing on behalf of the seller, also an unnamed limited liability company.
ALTAMONTE SPRINGS, FLA. — CBRE has brokered the $63.15 million sale of the combined 876-unit Timberlake and The Glades, a two-property garden-style apartment community located in Altamonte Springs. The property is currently 93 percent leased. Shelton Granade and Luke Wickham of CBRE's Orlando office represented the seller in the transaction. GoldOller Real Estate Investments was the buyer.
MOUNT HOLLY, N.C.; DECATUR AND CONYERS, GA. — Bill Matone of NorthMarq Capital's Charlotte office has arranged four first mortgage refinancings, totaling $27.07 million, for four multifamily properties in the Southeast. Three loans were arranged on behalf of Triangle Real Estate: $11.8 million in financing for the 256-unit The Cloisters of Mount Holly and $2.77 million for the 72-unit Riverfront Apartment Homes, both located in Mount Holly. Additionally, a $5 million loan was provided for the 254-unit Covington Glen Apartment Homes in Decatur. Matone also secured $7.5 million in financing for the 200-unit Bridlewood Apartment Homes in Conyers on behalf of Gastonia, N.C.-based Southwood Realty Co. The four loans all have a 10-year term with a 30-year amortization schedule and were arranged through Freddie Mac.
NEW YORK — Beech Street Capital has provided $24 million in Fannie Mae loans to refinance a 68-unit apartment building in the West Village of New York City. Cary Pollack of Meridian Capital Group LLC originated the transaction, which was financed by Beech Street Capital. The 10-year loan has a 30-year amortization schedule.