WASHINGTON, D.C. — The Aventine of Alexandria, a 15-story, 574-unit multifamily community at 2701 Park Center Dr. in Washington, D.C., has sold. The building was originally built in 1973 and has been recently renovated. It features units averaging 1,027 square feet and includes a resort-style pool, fitness center, media room, business center, dog park and concierge service. David Nachison, Alan Davis and Brenden Flood of HFF represented the seller, a separate account client advised by Invesco Real Estate. Partners Group, a global private markets investment management firm, and an affiliate of Bainbridge Cos. LLC purchased the multifamily property.
WASHINGTON, D.C. — Washington, D.C.-based Greysteel, a real estate investment services firm, has brokered the $1.6 million sale of 1702 16th St. N.W. in Washington, D.C. The eight-unit boutique apartment building in Washington, D.C.’s Dupont Circle sold to an unlisted cash purchaser. Ari Firoozabadi, Kyle Tangney, John Mullen, Henry Schuldinger and Caleb Brown of Greysteel represented the seller, Kerner Development LLC.
BOSTON — 52 Westland Enterprises LLC has purchased 52 Westland Avenue, a 43-unit apartment building in Boston's Fenway neighborhood, for $12.8 million. The five-story building is located across the street from Whole Foods and is adjacent to the Boston Symphony Hall. Chistopher Sower and Jason Weissman led the Boston Realty Advisors team that represented the seller, 52 Westland LLC, in the transaction.
STOUGHTON, MASS. — Fairfield Indian Woods has acquired Alta at Indian Woods, a 154-unit, Class A apartment community in Stoughton for $27.5 million. Apartment units average 873 square feet and community amenities include a cyber cafe, 24-hour access fitness center, outdoor fire pit and putting green. Simon Butler and Biria St. John of CB Richard Ellis — N.E. Partners represented the seller, SPUS05 Wood Alta at Indian LLC (a joint venture between Wood Partners and an institutional partner), in the transaction.
IRVING — TDI has purchased 6.65 acres of land at Northwest Highway and Las Colinas Boulevard in the Las Colinas neighborhood of Irving for a $50 million, 386-unit multifamily development. Construction is slated to begin in March 2013. The development will include walk-up brownstone apartments and a clubhouse with a retail-style urban patio. Every kitchen will include an island and the interiors will feature 10-foot ceilings.
HOUSTON — ARA has arranged the sale of two multifamily properties, the 181-unit Capital Estates and the 151-unit Harbortree apartment communities, both located in Houston's Clear Lake submarket. David Wylie, Russell Jones, Zach Springer and Matt Saunders of ARA's Houston office represented the seller in the transaction. Houston-based Dakota Enterprises acquired the REO portfolio. Capital Estates is 78 percent occupied, while Harbortree is 73 percent occupied.
DURHAM, N.C. — Dougherty Mortgage LLC has closed a $17.25 million loan for the acquisition of Arbor Walk, a 115-unit independent living and assisted living property in Durham. The seven-year term loan was arranged through Dougherty Mortgage’s Maryland office for CSH Walk LLC.
FAYETTEVILLE, ARK. — CNL Lifestyle Properties Inc., a real estate investment trust, has acquired Fayetteville’s Culpepper Place for $14 million from Foster Hospitality Group. The assisted living community has 67 units and opened in June 2011. It is 100 percent occupied. This is the second Arkansas property CNL Lifestyle Properties has purchased from Foster Hospitality Group.
SCOTTSDALE, ARIZ. – The 24-unit Los Porticos apartments in Scottsdale has sold to 2778 Loker, LLC for $1.7 million. The community is located at 1221 North 85th Place. The buyer was represented by Marc Huisken of Cassidy Turley BRE Commercial in Phoenix. The seller, a private real estate partnership, was represented by Brian Tranetzki and Rich Butler of Marcus & Millichap’s Phoenix office.
ELK RIVER, MINN. — Oak Grove Capital has arranged a $7.7 million loan for Evans Meadows, a 112-unit apartment community in Elk River. Ken Dayton of Oak Grove Capital's St. Paul, Minn. office arranged the 10-year loan through the HUD 223(f) program. The borrower is Bigos Management.