LAFAYETTE, LA. — Juneau Construction Co. has completed the second phase of the $100 million Taft/Tulane and Rose Garden Housing replacement program for the University of Louisiana at Lafayette. Ambling University Development Group was the developer for the project, Ragin' Cajun Facilities owns the property and Niles Bolton Associates was the architect. Construction for Phases I and II included the demolition of five residence facilities, construction of four new residence halls, the repurpose of two existing residence halls, renovation of a historic residence hall and construction of a new parking structure. The project added 1,800 beds to the campus.
PIKESVILLE, MD. — Greysteel has arranged the $64.7 million sale of the 255-unit Residence at Waterstone, a multifamily property located at 225 Galvariun Court in Pikesville. Amenities include a resort-style swimming pool, theater/media room, fitness center, aerobics/yoga room, lighted tennis courts, library and business center. Ari Firoozabadi, John Mullen, Kyle Tangney, Henry Schuldinger and Caleb Brown of Greysteel represented Pacific Urban Residential, the seller, in the transaction. KBS Legacy Partners was the buyer.
ATLANTA — Jones Lang LaSalle has negotiated the sale of the 269-unit Asbury Park, a multifamily community located at 3640 S. Fulton Ave. in Atlanta. The property is 96 percent leased. Amenities include a rooftop terrace, saltwater swimming pool, fitness center, conference and business centers and a gameroom with billiards, shuffleboard and a gourmet kitchen. Derrick Bloom and David Gutting of Jones Lang LaSalle represented Oxford Properties, the seller, in the transaction. An affiliate of Bell Apartment Fund IV was the buyer.
NEW YORK CITY — Beech Street Capital has arranged a $9.5 million Freddie Mac loan to refinance 184 Noll St., a recently constructed apartment building in Brooklyn. The 32-unit property includes a 16-space parking garage and a roof deck with views of Manhattan. The building is fully leased. Aaron Appel of Meridian Capital Group originated the seven-year loan, which includes a 30-year amortization schedule.
NEWARK, DEL. — NorthMarq Capital has arranged a $7.1 million loan for the refinancing of Southgate Apartments, an off-campus student housing property at 24 Marvin Dr. in Newark. The 150-unit building is located near the University of Delaware. Joseph Sweeney of NorthMarq negotiated the 10-year loan, which includes a 30-year amortization schedule, through Freddie Mac. The borrower is Southgate Realty Associates.
HOUSTON — HFF has arranged acquisition financing and joint venture equity for the 240-unit Timberstone Apartments, located at 4200 W. FM 1960 in Houston. The complex is 95 percent occupied and includes amenities such as barbeque grills, a pool, clubhouse and fitness center. Douglas Opalka, Matt Kafka and Robert Wooten of HFF arranged an acquisition loan through RGA Reinsurance Co. and joint venture equity through a private investor on behalf of the borrower, Commerce Capital Partners.
NEWPORT BEACH, CALIF. — Sabal Financial Group has purchased a $96-million portfolio of performing and non-performing loans from Bank of the West. The portfolio is secured by commercial real estate and land in California, Colorado, Arizona, Oklahoma and Iowa. In addition to this acquisition, Sabal also recently established a residential builder-lending platform that provides non-recourse acquisition and development loans to homebuilders throughout California, Seattle and the Portland metro areas.
TOWSON, MD. — ARA has brokered the sale of the 430-unit The Quarter, a two-property multifamily asset located in Towson. The property includes the 280-unit The Jazz and the 150-unit The Renaissance. Drew White, Mike Marshall and Ryan Ogden of ARA represented the seller, a joint venture between AIG Global Real Estate and Lane Northeast, in the transaction. CBRE Global Investors was the buyer.
ATLANTA — Grandbridge Real Estate Capital has secured $20.7 million in first mortgage financing for the 280-unit Astoria Apartments at Riverside, a multifamily community located in Atlanta. Tom Walsh of Grandbridge's Atlanta office arranged the three-year loan with a 30-year amortization schedule through C-III Commercial Mortgage.
KANSAS CITY, MO. — The Hills Partners has acquired Sycamore Hills, a 207-unit apartment property in Kansas City for $4.3 million. The property is located at 506 NW 55th Terrace and consists of nine two-story buildings. Alex Blagojevich and David Gaines of Marcus & Millichap represented the seller, Sycamore Hills LLC, in the transaction. They also represented the buyer.