LOS ANGELES — Monem Corporation has purchased two apartment buildings in Los Angeles for more than $5 million. The acquisitions include an 18-unit community at 1114 N. Clark Street in West Hollywood for $3.25 million and a 12-unit community at 2001 N. Beachwood Drive in Los Angeles for $1.78 million. Prosser Stevens represented both Monem and the seller, P&M Murrieta Silverado LLC, in the first transaction. Hanes Investment Realty represented both parties, including the private trust seller, in the latter transaction.
BURIEN, WASH. — The 46-unit Miller Junction apartment building in Burien has sold to a limited liability company for $2.6 million. It is located at 215 South 162nd Street. The buyer was secured and represented by George Miller of Marcus & Millichap’s Seattle office.
LAS VEGAS — New Vista has broken ground on its first medical clinic and senior home for intellectually challenged individuals in the northwest area of Las Vegas. This will be the first medical clinic in Nevada that has been specifically designed to work with intellectually challenged individuals. It will be located at 7875 N. Rainbow Blvd. The six-phase development will house six individuals and will provide medical care to the Southern Nevada community. New Vista has partnered with Touro University Nevada on this project, which will be developed on 15 acres of land donated by the Gilcrease brothers.
ESCONDIDO, CALIF. – The 14-unit Villa Del Mar apartments in Escondido has sold to GSBV USA, LLC for $2.55 million. The community is located at 438 North Fig Street. It was fully leased at the time of sale. The buyer was represented by Jose Luis Bouvet, Jr.of Perry Commercial Real Estate. The seller, 938 N. Fig LLC, was represented by CBRE’s Merrick Matricardi, Jim Neil and Eric Comer.
CARY, N.C. — Raleigh, N.C.-based Dominion Realty Partners LLC is developing the 205-unit Tryon Place Apartments at Cary Parkway<
CHICAGO — Marcus & Millichap has arranged the $2.3 million sale of a 12-unit apartment property at 1535-1537 W. Addison St. in Chicago's Lakeview neighborhood. The property is also a few blocks from two popular commercial districts: Lakeview-Wrigleyville and the Southport Corridor. Kyle Stengle of Marcus & Millichap represented the seller, a local partnership. He also represented the buyer.
LAS VEGAS — New Vista has broken ground on its first medical clinic and senior home for intellectually challenged individuals in the northwest area of Las Vegas. This will be the first medical clinic in Nevada that has been specifically designed to work with intellectually challenged individuals. It will be located at 7875 N. Rainbow Blvd. The six-phase development will house six individuals and will provide medical care to the Southern Nevada community. New Vista has partnered with Touro University Nevada on this project, which will be developed on 15 acres of land donated by the Gilcrease brothers.
ESCONDIDO, CALIF. – The 14-unit Villa Del Mar apartments in Escondido has sold to GSBV USA, LLC for $2.55 million. The community is located at 438 North Fig Street. It was fully leased at the time of sale. The buyer was represented by Jose Luis Bouvet, Jr.of Perry Commercial Real Estate. The seller, 938 N. Fig LLC, was represented by CBRE’s Merrick Matricardi, Jim Neil and Eric Comer.
MILILANI, HAWAII — The 128-bed Plaza at Mililani senior housing community has received a $28.5-million refinance. It is located on the island of Oahu. The loan features a 10-year term and a 30-year amortization period. It was underwritten to a 67 percent loan-to-value with a 1.40x debt-service coverage ratio. The Fannie Mae loan was arranged by Russell Dey of Walker & Dunlop. It was sponsored by Stephen B. Metter of MW Group.
NORTH CHARLESTON, S.C. — Silvana Oaks, a Class A multifamily apartment community in North Charleston, has traded for approximately $21.5 million. Palmetto Park Apartment Associates LLC sold the property, which was built in 2010 and located adjacent to the Publix Palmetto Pavilion Shopping Center on Dorchester Road in North Charleston, to Silvana Oaks LLC. Rivers Evans and Donald Evans of Evans, Rivers and Co. represented the seller, and Dexter Rumsey of NAI Avant represented the buyer.