NASHVILLE, TENN. — North American Properties has started construction on the $34 million, 200-unit ParkCentral, a multifamily property located at 220 25th Ave. in Nashville. Amenities will include a rooftop deck with a saltwater swimming pool, resort-style clubroom and an upscale fitness center. NilesBolton Associates is the project architect, Barge Waggoner Sumer & Cannon is the engineer and NAP is the construction manager and developer.
ORLANDO, FLA. — CBRE Group has negotiated the sale of the 394-unit Legends at Lake Nona, a multifamily community located at 10203 Falcon Parc Blvd. in Orlando. Amenities include a resort-style pool, lighted tennis courts, basketball court, outdoor grills and fitness and business centers. Shelton Granade and Luke Wickham of CBRE Group's Orlando office represented the seller in the transaction.
HIALEAH, FLA. — Marcus & Millichap has arranged the $8.1 million sale of the 109-unit Okeechobee Villas, an apartment complex located at 1350 W. 6th Ave. in Hialeah. The property is 97 percent leased. Joseph Thomas and Felipe Echarte of Marcus & Millichap represented the seller, a Miami Lakes, Fla.-based limited liability company, in the transaction. Evan Kristol and Still Hunter III, also of Marcus & Millichap, represented the buyer, a Miami-based limited liability company.
HOBOKEN, N.J. — Argo Real Estate has secured a $16 million loan from Sovereign Bank to finance a ground-up apartment development in Hoboken. Argo has entered a joint venture with Alpine Development to construct 59 loft-style apartments at 1400 Clinton St. Amenities will include private roof decks, a children's playroom, fitness center and on-site parking for all tenants.
NAUGATUCK, CONN. — Trowbridge LLC has acquired Trowbridge House Apartments at 38 Highland Ave. in Naugatuck for $1.8 million. The 33-unit complex was constructed in 1970 and apartments range in size from 650 to 950 square feet. Steve Pappas and Tom Boyle of Chozick Realty represented the seller, Limerick Properties, in the transaction. They also procured the buyer.
WILMINGTON, DEL. — Centerline Capital Group has arranged a $6.8 million loan for the acquisition of Haverford Place Apartments in Wilmington. The borrower is Haverford LLC. The 132-unit property was built in 1963 and consists of six, three-story buildings. The complex is 93 percent occupied. The 10-year loan carries a 3.9 percent interest rate.
DALLAS — Greensboro, N.C.-based Bell Partners has acquired the 214-unit Alta 1900 Lofts, located in Dallas' Design District. The facility will be rebranded as Bell Design District. The amenities of the facility include a 24-hour fitness center, media center and a resort-style swimming pool with an underwater sound system. Bell has acquired more than $330 million in apartment properties in 2012. The purchase was made through Bell Apartment Funds IV.
AUSTIN — HFF has arranged the sale of the 324-unit, Class A Deerfield Apartments, located at 8700 Brodie Lane in southwest Austin. The apartment community is currently 97 percent occupied. Sean Sorrell led the HFF team to represent the seller, Nevins Adams Lewbel Schell, in the transaction. Austin-based Falcon Southwest was the buyer.
DALLAS — Beech Street Capital has closed $19.3 million in Fannie Mae loans to refinance a Class B, three-apartment property portfolio totaling 720 units in Dallas/Fort Worth. Larry Sneathern of Beech Street's Dallas office arranged the 10-year loans with seven years of field maintenance.
EVERETT, WASH. — The 120-unit Woodbrook Apartments in Everett has received nearly $6.2 million in first-mortgage refinancing. The property is located at 525 112th Street SE. The 10-year loan boasts a 30-year amortization schedule. It was arranged for Woodbrook Investment Partners, LP by John Kinser and James DuMars of NorthMarq’s Phoenix regional office through the firm’s seller-servicer relationship with Freddie Mac.