NEW YORK CITY — Massey Knakal has brokered the $2 million sale of a four-family waterfront townhouse at 69 Columbia St. in Brooklyn's Cobble Hill neighborhood in New York City. The five-story building is 7,875 square feet and features three loft-style rental apartments on the first three floors and an owner's duplex on the fourth and fifth floors. Massey Knakal's Ken Freeman exclusively handled the sale of the property, which is located on the Brooklyn Waterfront.
LOS ANGELES — Marcus & Millichap Real Estate Investment Services has sold a 16-unit apartment building located at 1343-1349 N. Martel Ave. in Los Angeles to a limited liability company for $2.5 million. The complex, which contains 12,080 rentable square feet, was built in 1960 and consists of one- and two-bedroom units. Tony Azzi, senior vice president investments in Marcus & Millichap’s West Los Angeles office, listed the property exclusively on behalf of the seller, a private investor. The buyer was represented by Greg Harris and Jeff Benson of Marcus & Millichap’s Encino office.
KENNESAW, GA. — Deutsche Bank Berkshire Mortgage has provided a $22.2 million loan for the acquisition of the 290-unit Barrett Walk, located at 2055 Barrett Lakes Blvd. in Kennesaw. The loan was structured under Freddie Mac's CME program. The property is part of a 1,000-acre master planned development.
BATON ROUGE, LA. — Walker & Dunlop has provided a $14.5 million refinance loan for the 200-unit Spring Brook Apartments in Baton Rouge. The 7-year loan has a 30-year amortization schedule and was arranged through Freddie Mac's Early Rate Lock Process under their CME.
CHICAGO — Chicago-based Essex Realty Group has brokered the $6.7 million sale of a 101-unit mid-rise apartment building, located at 7301 N. Sheridan Rd. in Chicago. Matt Welke and Doug Imber of Essex represented both parties in the transaction. PNC Bank was the seller.
AUSTIN — Marcus & Millichap Real Estate Investment Services has brokered the sale of Mi Casa, a 64-unit multifamily property at 7200 Duval St. in Austin. J. Patrick Burke and Kent Myers represented the seller, a private investor. The units in Mi Casa range from 415 square feet to 1,183 square feet.
TUKWILA, WASH. – Marcus & Millichap has sold the 39-unit Riverton Ridge Apartments for $3.2 million. The complex was built in 1987 and is composed of four three-story buildings. Marc Cunningham, an investment specialist in the firm’s Seattle office, marketed the property exclusively on behalf of the seller, a limited liability company.
NORTH HOLLYWOOD, CALIF. – Klump Gardens, a 32-unit apartment complex that resides in the North Hollywood (NoHo) arts district, has sold to 5051 Klump Ave LLC for $5.3 million. The 24,735-square-foot building was built in 1985. Both the buyer and the seller, FMS Holdings IV, were represented by Rod Delson of NAI Capital’s Westlake Village, Calif., office.
ORLANDO, FLA. — ARA has brokered the $20.75 million sale of the 356-unit Preserve at Econ River, located at 9201 Nelson Park Cir. in Orlando. Kevin Judd, Patrick Dufuor and Matt Wilcox of ARA's Orlando office represented the seller, Atlanta-based JLC Southeast, in the transaction. The buyer was a joint venture between Atlanta-based Pollack Partners and The Carlyle Group.
CINCINNATI — CB Richard Ellis has brokered the $1.2 million sale of the 56-unit Losantiville Terrace Apartments, located at 2896 Losantiville Ave. in Cincinnati. CBRE's Indianapolis-Cincinnati Multihousing Group represented the seller, the original developer, in the transaction. The buyer was Central Rentals II.
