PHOENIX — CB Richard Ellis has sold the 360-unit Mountain Park Ranch in Phoenix to CREF Windsor LLC for an undisclosed sum. This apartment community resides within the 2,500-acre, master-planned Mountain Park Ranch community. Built in 1996 and formerly known as the Windsor at Mountain Park Ranch, the property was 95 percent occupied at the time of sale. CBRE’s Tyler Anderson and Sean Cunningham represented the seller, Windsor at the Preserve LLC.
MEMPHIS, TENN. — Marcus & Millichap has negotiated the $8.5 million sale of the 217-unit Brentwood Place Apartments, located at 1835 Sycamore View Rd. in Memphis. Patrick Jordan of Marcus & Millichap's Memphis office represented both parties in the transaction, Memphis-based Grant Investments, the seller, and the buyer, Slidell, La.-based Southern Breeze, LLC.
CHICAGO — Chicago-based Essex Realty Group has negotiated the $4.1 million sale of 26 residential units in the 107-unit Eastgate Village, a master-planned community located at 306 E. 25th St. in Chicago. The units contained 10 condominiums and 16 townhomes. Jim Darrow and Jordan Gottlieb of Essex represented the seller, a regional bank, and Matt Welke, also of Essex, represented the buyer, a private investor.
NEW LONDON, CONN. — Courtview Apartments LLC has purchased Courtview Square Apartments, a 96-unit apartment complex set on 2.3 acres in New London, for $4.4 million. The units are one-bedroom, 640-square-foot garden-style apartments. Tom Boyle and Ryan Perkoski of Chozick Realty represented the seller, Broadway Innwood LLC.
FRISCO — Wade Crossing Apartments, a 336-unit multifamily community at 9399 Wade Blvd. in Frisco, has received $17.9 million in first mortgage financing from NorthMarq Capital. NorthMarq’s Greg Duvall arranged the financing based on a 7-year term and a 30-year amortization schedule with NorthMarq’s seller-service relationship with Freddie Mac.
SEATTLE — Marcus & Millichap Real Estate Investment Services has sold the Roberta and Carol Apartments, a 30-unit complex located in Seattle, for $3,590,000. Both the buyer, a limited liability company, and the seller, a private investor, were represented by Marc Cunningham, an investment specialist in Marcus & Millichap’s Seattle office.
KOKOMO, ROCHESTER AND ANDERSON, IND. — St. Paul, Minn.-based Oak Grove Capital has arranged $18.3 million in acquisition financing through its Fannie Mae DUS program on behalf of Capital Senior Living Corp. The 10-year loans have a 30-year amortization schedule and were used to purchase the 78-unit Green Tree of Kokomo in Kokomo and the 50-unit Wynnfield Crossing in Rochester. A loan on the 58-unit Keystone Woods in Anderson is expected to close mid-September.
MIAMI — CB Richard Ellis has arranged the $2.7 million sale of a 28-unit apartment complex, located at 1818 Meridian Ave. in Miami. Calum Weaver of the firm's Miami office represented the undisclosed seller. Domus Group was the buyer.
CRAWFORDVILLE, FLA. — Franklin Street Real Estate Services has arranged the $2.38 million, REO sale of the 96-unit Bridlewood Apartments, located at 33 Home Stretch Ln. in Crawfordville. Darron Kattan, Bob Goldfinger and Kevin Kelleher of Franklin Street's Tampa, Fla., office represented the undisclosed seller. Steve Sussman of Marcus & Millichap's Miami office represented the buyer, a New York-based investor.
LITHIA SPRINGS, GA. — Bruce Foster of NorthMarq Capital's Atlanta office has arranged $14.5 million in first mortgage financing for the 308-unit Tree Lodge Apartments, located at 1600 Blairs Bridge Rd. in Lithia Springs. The 10-year loan has a 30-year amortization schedule and was arranged for the borrower, Strand Communities, through MetLIfe.