NEW YORK CITY — GFI Realty Services has arranged the $8.3 million sale of 4112 4th Ave., a mixed-use building in Brooklyn. The 43,280-square-foot building contains 57 apartments and seven stores. The building is centrally located to the Gowanus Expressway as well as the D, N and R subway lines. Erik Yankelovich of GFI Realty Services represented the buyer, a local family, in the transaction. Joseph Landau of GFI represented the sellers, a partnership of local investors.
CHELSEA, MASS. — Burlington Management has acquired 18 apartment units at 156-160 Park St. an 161-165 Pearl St. in Chelsea for $1.5 million. The apartments are housed in two, three-story rowhouse buildings. The Pearl Street building contains 10,296 square feet and the Park Street building includes 8,966 square feet. Both buildings have separate entrances and on-site washers and dryers. Carl Christie and Dan McGee of NAI Hunneman represented the seller in the transaction. They also procured the buyer.
AUSTIN — The Connor Group has acquired the 253-unit Cityview at SoCo, an apartment community located in Austin. The property was formerly known as Camden South Congress and it features several retail spaces. The acquisition marks The Connor Group's first property in Austin.
HOUSTON — NorthMarq Capital has secured first mortgage refinancing for the 260-unit Steeplecrest Apartments, located at 11220 W. Road in Houston. Greg Duvall of NorthMarq's Kansas City, Kan., office arranged the 10-year loan with a 30-year amortization schedule through AmeriSphere Multifamily Finance, a Fannie Mae DUS lender.
LADY LAKE, FLA. — CNL Healthcare Trust has agreed to invest $21.6 million in the 96-unit HarborChase of Villages Crossing, a to-be constructed assisted living and memory care community in Lady Lake. The two-story building will total 91,000 square feet. Harbor Retirement Associates is the project developer and will provide management services under a long-term contract upon completion. CNL owns 100 percent of the project.
ST. ANTHONY, MINN. — Oak Grove Capital has arranged a $6.2 million 232/223(a)(7) HUD Lean loan for the refinancing of Chandler Place in St. Anthony. The seniors housing community contains 119 units.
NASHVILLE, TENN. — Pollack Shores Real Estate Group has sold the 220-unit Velocity in the Gulch, a multifamily property located at 320 11th Ave. S. in Nashville, for $37.5 million. Amenities include a sky lounge with outdoor cabanas, gym and controlled access parking garage. Walton Street Capital was the buyer. The seller had previously converted the property from condominium units to for-rent apartments. The sale did not include the 43 condo units or the ground-level retail.
PARKLAND, FLA. — Bell Partners has acquired the 396-unit Winners Circle Apartments, a multifamily property located at 5851 Holmberg Road in Parkland. Amenities include two swimming pools, a clubhouse with a fitness center and tennis courts. The buyer plans to rename the property Bell Parkland.
CHICAGO — Marcus & Millichap has arranged the $4 million sale of three apartment buildings in Chicago. The assets were located at 4709 W. Belmont Ave., 4844 West Henderson St. and 4539 W. Wellington Ave. The buildings feature 62 units and four street-level retail spaces. Joe Smazal and James Clough of Marcus & Millichap represented the seller, a local private investor. James Ziegler of Marcus & Millichap represented the buyer, a limited liability company.
LINDENWOLD, N.J. — Beech Street Capital has arranged a $26.3 million Freddie Mac loan for the acquisition of The Landings at Pine Lake, a 520-unit apartment complex in Lindenwold. The community is 95 percent occupied and consists of 46, three-story apartment building and a leasing center. The complex is approximately 15 miles southeast of the Philadelphia CBD. Abe Hirsch and Moshe Majeski of Meridian Capital Group originated the fixed-rate, 10-year loan. Azure Partners is the borrower.
