Multifamily

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.

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.