GERMANTOWN, MD. — CBRE Group has arranged the $90.25 million sale of the 768-unit Hamptons at Town Center, a multifamily property located at 19757 Crystal Rock Drive in Germantown. Amenities include a fitness center, clubhouse, business center, pool, sports courts and laundry facilities. Bill Roohan, Michael Muldowney, Michael Rudolph, Brian Margerum, Andrew Boyer and Martha Hastings of CBRE Group represented Harbor Group International, the seller, in the transaction. The buyer was Montgomery County. Harbor Group will continue to manage the property.
JACKSONVILLE, FLA. — Palatine Capital Partners has purchased the 180-unit Villas at Dames Point Crossing, a multifamily community located at 8291 Dames Point Crossing in Jacksonville, from Dames Point LLC for $14.02 million.John Stone, Robert Selton and Douglas Blair of Colliers International represented the seller in the transaction. Brad Coe of Horizon Realty Management represented the buyer.
CHEVY CHASE, MD. — Beech Street Capital has provided $152 million in refinancing for the 432-unit Archstone Wisconsin Place, a multifamily property located at 4400 Willard Ave. in Chevy Chase. Amenities include a fitness center, private screening room, business center, Internet lounge, rooftop pool and a community courtyard. The property is part of Wisconsin Place, a mixed-use development that also includes retail and office space.
NEW YORK CITY — Marcus & Millichap has arranged the $7.8 million sale of 440-450 Audubon, a 71-unit apartment building in New York City. The property is 66,240 square feet. Peter Von Der Ahe, Scott Edelstein and Seth Glasser of Marcus & Millichap represented the seller, a limited liability company based in California, in the transaction. They also represented the buyer, a local investor with international partners.
SAN ANTONIO — Institutional Property Advisors (IPA) has arranged the sale of The Palomino, a Class A, 484-unit multifamily complex located at 14111 Vance Jackson Road in San Antonio. Will Balthrope, Scott Lamontagne and Drew Kile of IPA represented the seller, Koontz McCombs Development, in the transaction. Balthrope and Lamontagne also secured the buyer, an investment group represented by Beverly Hills, Calif.-based Francis Property Management Inc. The property is currently 95 percent occupied.
EULESS — SBV Communities has purchased the 211-unit Bear Creek Apartments, located at 605 Del Paso St. in Euless. Auction.com facilitated the transaction, which is the second purchase this week for SBV. The firm's ownership footprint is now spread over 14 markets.
SAN ANTONIO — ARA has brokered the sale of the 180-unit Summercreek Apartments, located at 11851 Belair Drive in San Antonio. The apartment is currently 93 percent occupied and features two swimming pools with a waterfall, a fitness center, sports court, playground and a barbecue area. Casey Fry of ARA's San Antonio office represented the seller, New Jersey-based Wilshire Enterprises, in the transaction. Santa Ana, Calif.-based SGI Partners is the buyer, and Summercreek is the company's first Texas property.
BROOMFIELD, COLO. – The 82-unit Courtyard Apartments in Broomfield has sold to a private individual for $5.4 million. The property was 91 percent occupied at the time of this REO sale. The seller was represented by Terrance Hunt and Shane Ozment of ARA Colorado.
COSTA MESA, CALIF. – The 40-bed Autumn Years at Newport Mesa has received a $5.14-million loan refinancing. The facility was built in Costa Mesa in 1999. It specializes in memory impairments like Alzheimer’s, Parkinson’s and other related dementias. Financing was secured by Artin Anvar of Love Funding’s Washington office. It was arranged for AY Newport Mesa LP.
SUFFOLK, VA. — A 216-unit multifamily development, located in Suffolk, has sold for $5.45 million. The 10.6-acre parcel is a fully entitled multifamily site, which is part of an approximately 148-acre mixed-use development. The Florida-based buyer plans to begin construction by year's end. Dan Johnson and Hank Hankins of CBRE/Hampton Roads represented the seller in the transaction.