FREDONIA, N.Y. — NorthMarq Capital has arranged an $8.2 million loan for the refinancing of Fredonia Place, an 84-unit assisted living facility at 50 Howard St. in Fredonia. Elliot Auerbacher of NorthMarq arranged the 37-year, fixed-rate loan through an FHA lender. The loan contains a 37-year amortization schedule.
LAS VEGAS — New Vista has broken ground on its first medical clinic and senior home for intellectually challenged individuals in the northwest area of Las Vegas. This will be the first medical clinic in Nevada that has been specifically designed to work with intellectually challenged individuals. It will be located at 7875 N. Rainbow Blvd. The six-phase development will house six individuals and will provide medical care to the Southern Nevada community. New Vista has partnered with Touro University Nevada on this project, which will be developed on 15 acres of land donated by the Gilcrease brothers.
LAS VEGAS — New Vista has broken ground on its first medical clinic and senior home for intellectually challenged individuals in the northwest area of Las Vegas. This will be the first medical clinic in Nevada that has been specifically designed to work with intellectually challenged individuals. It will be located at 7875 N. Rainbow Blvd. The six-phase development will house six individuals and will provide medical care to the Southern Nevada community. New Vista has partnered with Touro University Nevada on this project, which will be developed on 15 acres of land donated by the Gilcrease brothers.
ESCONDIDO, CALIF. – The 14-unit Villa Del Mar apartments in Escondido has sold to GSBV USA, LLC for $2.55 million. The community is located at 438 North Fig Street. It was fully leased at the time of sale. The buyer was represented by Jose Luis Bouvet, Jr.of Perry Commercial Real Estate. The seller, 938 N. Fig LLC, was represented by CBRE’s Merrick Matricardi, Jim Neil and Eric Comer.
CARY, N.C. — Raleigh, N.C.-based Dominion Realty Partners LLC is developing the 205-unit Tryon Place Apartments at Cary Parkway<
CHICAGO — Marcus & Millichap has arranged the $2.3 million sale of a 12-unit apartment property at 1535-1537 W. Addison St. in Chicago's Lakeview neighborhood. The property is also a few blocks from two popular commercial districts: Lakeview-Wrigleyville and the Southport Corridor. Kyle Stengle of Marcus & Millichap represented the seller, a local partnership. He also represented the buyer.
ESCONDIDO, CALIF. – The 14-unit Villa Del Mar apartments in Escondido has sold to GSBV USA, LLC for $2.55 million. The community is located at 438 North Fig Street. It was fully leased at the time of sale. The buyer was represented by Jose Luis Bouvet, Jr.of Perry Commercial Real Estate. The seller, 938 N. Fig LLC, was represented by CBRE’s Merrick Matricardi, Jim Neil and Eric Comer.
NORTH CHARLESTON, S.C. — Silvana Oaks, a Class A multifamily apartment community in North Charleston, has traded for approximately $21.5 million. Palmetto Park Apartment Associates LLC sold the property, which was built in 2010 and located adjacent to the Publix Palmetto Pavilion Shopping Center on Dorchester Road in North Charleston, to Silvana Oaks LLC. Rivers Evans and Donald Evans of Evans, Rivers and Co. represented the seller, and Dexter Rumsey of NAI Avant represented the buyer.
BATON ROUGE, LA. — Boston Capital, a real estate investment and advisory firm specializing in tax-advantaged investments, is investing in The Gardens Senior Apartments, a 55-unit multifamily development for seniors in Baton Rouge. The community will be built with tax credit equity from the Low Income Housing Tax Credit (LIHTC) program. The Humanities Foundation Inc., a Charleston, S.C.-based non-profit organization dedicated to affordable housing development, is the general partner. The Gardens Senior Apartments will include 49 one-bedroom and six two-bedroom units in a two-story building.
NEW YORK CITY — An apartment building at 40 Cumberland St., located between Flushing and Park avenues in Brooklyn's Fort Greene neighborhood, has sold to an investor through a 1031 tax-deferred exchange for $2.2 million. The 8,268-square-foot building contains nine two-bedroom units and two one-bedroom units. The property also includes a three-bedroom unit with rear yard access. In the past 12 months, 10 of the 12 units have been fully renovated. Stephen Palmese and Mike Amirkhanian of Massey Knakal Realty Services represented both parties in the transaction.