HALTOM CITY — Marcus & Millichap has arranged the sale of the 88-unit Waldemar, a multifamily property located at 4812 Waldemar St. in Haltom City. Al Silva of Marcus & Millichap's Fort Worth office represented the seller, a Texas-based partnership, in the transaction, and secured the buyer, a private investor. The new owner plans to make upgrades to the property, which is approximately 90 percent occupied.
HOUSTON — New York City-based Hudson Realty Capital has provided a $6.9 million bridge loan for an undisclosed 272-unit apartment complex, located in the greater Houston area. The borrower, an undisclosed multifamily owner/operator, is using the loan to acquire the property and fund renovations. The complex is 84 percent occupied.
HOUSTON — New York City-based Hudson Realty Capital has provided a $6.9 million bridge loan for an undisclosed 272-unit apartment complex, located in the greater Houston area. The borrower, an undisclosed multifamily owner/operator, is using the loan to acquire the property and fund renovations. The complex is 84 percent occupied.
GULFPORT, MISS. — Beech Street Capital has secured a $7.75 million refinance loan for the 204-unit Creekwood North Apartments, located at 15235 Oneal Rd. in Gulfport. Chad Hagwood of Beech Street's Birmingham, Ala., office arranged the 10-year loan with a 9.5-year yield maintenance, payable on a 30-year amortization schedule, through Freddie Mac's CME loan program.
AUGUSTA, GA. — The 160-unit Center West Villas, located at 1075 Bertram Rd. in Augusta, has received a $3.91 million refinance loan. William Jones, Jr., of Love Funding's New York office arranged the financing through HUD's 223(a)(7) loan program. The loan allows the property's owner to reduce the interest rate and extend the loan back to its original 35-year term.
NEW YORK CITY — Madison Realty Capital has acquired a 15-note portfolio from a regional savings bank. The loan portfolio, consisting of 15 notes throughout New York City, is secured by 11 properties in Manhattan and 14 in Brooklyn. They comprise 245 residential units and 12 commercial spaces. The loans were originated at various times between 2006 and 2009, and the combined balance of the loans is $28.7 million.
AUSTIN — Dallas-based CMC Commercial Realty Group has commenced construction on the 308-unit Ladera Hill Country Apartments, a Class A multifamily property located along Interstate 35 between William Cannon Drive and Slaughter Lane in Austin. Greystar will manage the property. The apartments will include stainless steel appliances, enhanced lighting and granite countertops. Amenities will include a resort-style pool, fitness center, yoga studio, dog park and private garages.
WESTMINSTER, COLO. – The 52-unit Candlelight apartment community in Westminster has sold to a local buyer for $2,595,000. The community is located at 6985 Stuart Street. The property was marketed exclusively by Greg Price and Clayton Primm of Marcus & Millichap’s Denver office on behalf of the seller, a limited liability company.
ARLINGTON, VA. — HFF has arranged a $71.1 million construction loan for the 257-unit The Place, a Class A multifamily development located at 4000 Wilson Blvd. in Arlington. Sue Carras, Brian Crivella and Walter Coker of HFF's Washington, D.C., office, arranged the financing through a major national bank on behalf of the borrower, Ashton Park Associates III, an affiliate of the Shooshan Co. Completion is slated for 2013.
CHICAGO — Kennedy Funding has arranged a $1.2 million loan for the refinancing of Wrightwood Crossing, a residential condominium in Chicago. 1307 Wrightwood Lender LLC provided the loan to the borrower, 1307 W. Wrightwood II LLC. The property includes 19 residential units ranging from 1,510 to 2,720 square feet.
