WASHINGTON, D.C. — Greysteel has arranged the sale of two multifamily buildings in Washington, D.C., totaling 69 units, for $2.32 million. The properties include the 33-unit 1 Hawaii Ave. NE and the 36-unit 113 Wilmington Place SE. Ari Firoozabadi, John Mullen, Kyle Tangney, Henry Schuldinger and Caleb Brown of Bethesda, Md.-based Greysteel, along with Marcus & Millichap, represented the sellers in both transactions. For 1 Hawaii Ave. NE, Carroll Associates sold the property to Mayfair LLC for $1.32 million. For 113 Wilmington Place, RM Cohen Investment Co. sold the property for $1 million.
INDIANAPOLIS — Beech Street Capital has arranged a $5.1 million Fannie Mae loan to refinance Hunt Club Apartments, a 200-unit property in Indianapolis. Jacob Schmuckler of Meridian Capital Group originated the 7-year, fixed-rate loan, which carries a 30-year amortization schedule. The borrower has spent $1.8 million in renovations to the property's interior and plans to upgrade all of the units.
BROOKLYN — Three new retailers are slated to move into the Edge condominium project in Williamsburg. Among the tenants is Brooklyn Harvest Market, a 15,000-square-foot gourmet grocery store. Fabbrica, an Italian espresso bar and bakery, and Ride Brooklyn, a bicycle shop, have also signed new leases. The businesses will join a CVS pharmacy and Frolic!, a children's play space. Robert Greenstone of Greenstone Realty was the sole broker in all three transactions.
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.