Multifamily

MIXED-USE SENIOR CENTER IN MISSOURI CITY NOW OPEN

by admin November 18, 2011

MISSOURI CITY — Oyster Creek Manor, a new mixed-use development for senior citizens in Missouri City, has opened for business. The property features an Alzheimer's unit, beauty salon, 24-hour nursing staff and a restaurant. A partnership between Houston-based Wallace Bajjali Development Partners and Atlanta-based Outer Marker Properties developed the property and is operating the facility. The facility is located at Hampton Drive and Murphy Road in the Hampton Pointe master-planned community in Missouri City. Westbury, N.Y.-based The Kalikow Group's affiliate, KEP Hampton ALF LLC, owns the property.

November 18, 2011

JV ACQUIRES 298-UNIT CENTURY AT PERIMETER PARK

by admin November 17, 2011

ATLANTA — A joint venture between San Francisco-based Stockbridge Capital Group and Atlanta-based TriBridge Residential has purchased the 298-unit Century at Perimeter Park, located at 6210 Peachtree-Dunwoody Rd. in Atlanta. Derrick Bloom and David Gutting of Jones Lang LaSalle's Atlanta office represented Centennial Holdings, the seller, in the transaction.

November 17, 2011

Multifamily Northeast

BROOKLYN CONDO BUILDING SELLS FOR $3.65M

by admin November 17, 2011

BROOKLYN — CPEX New York has arranged the $3.65 million sale of 116 3rd Place, a 9,106-square-foot condominium in Brooklyn. Brian Leary and Ira Krivit represented the seller, TD Bank N.A., in the transaction. They also procured the buyer, a local investor.

November 17, 2011

Multifamily Texas

HFF ARRANGES REFINANCING FOR WATERS EDGE APTS. IN AUSTIN

by admin November 17, 2011

AUSTIN — HFF has facilitated refinancing for the 184-unit Waters Edge Apartments, a multifamily property located at 12330 Metric Blvd. in Austin. The property is comprised of seven buildings and features a two-story fitness pavilion, resort-style pool, business center and entertainment room. Waters Edge is currently 95 percent occupied. Cortney Cole of HFF's Houston office arranged the 7-year loan through Freddie Mac on behalf of the borrower, Houston-based Venterra Realty.

November 17, 2011

Multifamily Southeast

LANE CO. SELLS VERANO APARTMENTS

by admin November 16, 2011

KISSIMMEE, FLA. — Lane Co. has sold the 384-unit Verano Apartments, located at 2200 Villa Verano Way in Kissimmee, to Waterton Associates for an undisclosed price. Jay Ballard, Ken Delvillar and Lindsey Pfaender of Cushman & Wakefield's Orlando, Fla., office represented the seller in the transaction.

November 16, 2011

Multifamily Southeast

PRUDENTIAL SECURES $80.5M FREDDIE MAC LOAN

by admin November 16, 2011

ALEXANDRIA, VA. — Prudential Mortgage Capital has arranged $80.5 million in refinancing through Freddie Mac for the 461-unit The Encore, a multifamily community located at 4619 Seminary Rd. in Alexandria. Jason Miller of Prudential Mortgage Capital Cos.' Washington, D.C., office arranged the 7-year loan on behalf of the borrower, Virginia-based Bonaventure Realty Group.

November 16, 2011

Midwest Multifamily

NORTHMARQ ARRANGES $1.7M IN FINANCING FOR MINNESOTA APARTMENT PROPERTY

by admin November 16, 2011

STILLWATER, MINN. — NorthMarq has arranged $1.7 million in first mortgage financing for Stonebridge Apartments, a 36-unit multifamily property located at 1203 Owen St. in Stillwater. The 10-year loan has a 30-year amortization schedule. Michael Padilla of NorthMarq's Minneapolis office arranged the financing for the borrower through its affiliate Amisphere Multifamily Fianance, a Fannie Mae DUS lender.

November 16, 2011

Multifamily Texas

HENDRICKS & PARTNERS BROKERS SALE OF VANTAGE PORTFOLIO

by admin November 16, 2011

MIDLAND, SAN ANTONIO AND NEW BRAUNFELS — Hendricks & Partners has brokered the sale of the 1,040-unit Vantage portfolio, a four-property acquisition including Vantage at Midland in Midland, Vantage at Schertz in San Antonio, Vantage at New Braunfels in New Braunfels and Vantage at Converse in San Antonio. Mke Miller, Chris Ross and Will Caruth of Hendricks & Partners' San Antonio office represented the seller in the transaction. Joe Simon of Chicago-based Americus Realty represented the buyer in the transaction.

November 16, 2011

Multifamily Texas

JLL ARRANGES $35 MILLION FOR RIVERVIEW APTS. CONSTRUCTION

by admin November 16, 2011

AUSTIN — Jones Lang LaSalle's Capital Markets has secured $35 million in construction financing for the development of Riverview Apartments, located at the intersection of Interstate 35 and Riverside Drive in Austin. Mike Melody and Jimmy Board arranged the 3-year loan through Bank of America on behalf of CDK Realty Advisors.

November 16, 2011

Multifamily Western

VALLEY VINE APTS SELLS FOR $3.5M

by admin November 16, 2011

NORTH HOLLYWOOD, CALIF. – The 36-unit Valley Vine apartment community in North Hollywood has sold to LOT Burbank Partners for $3,580,000. It sold at a 6 percent cap rate. Chris Malcolm and David J. Harrington of Hendricks & Partners’ North Los Angeles office represented both the buyer and the seller, Valley Vine Ltd.

November 16, 2011

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