WEBSTER — Landmark Apartment Trust of America (LATA) has purchased the 354-unit Landmark at Emerson Park, a Class A apartment community located in Webster. The community, formerly known as Gardens at Challenger Park, includes gated entries, landscaped courtyards, a swimming pool, fitness center and designer kitchens. The property was purchased through first mortgage financing through Fannie Mae. Rob Wilson III of Wilson Investments represented the seller in the transaction. Tom Wilkinson of KET Enterprises, along with Jim Hurd of Houston Income Properties, represented the buyer.
DALLAS — HFF has closed the sale of and arranged financing for the 240-unit Trinity Oaks, a Class B multifamily community located at the intersection of Midway and Trinity Mills roads in north Dallas. The buyer, Allen Harrison Co., purchased the property free and clear of debt and plans to complete interior and exterior renovations through its affiliate, AHC Construction. Mosaic Residential will manage the property. Blair Lang of HFF's Dallas office represented the seller in the transaction. Cortney Cole of HFF's Houston office arranged the 10-year loan through Arbor Commercial Mortgage on behalf of the buyer.
SAN FRANCISCO — The 376-unit Eucalyptus Grove apartments in Chula Vista received a $38.06-million loan. It is located at 67 East Flower Street. The seven-year, fixed-rate loan was arranged by Clay Akiwenzie of Berkadia Commercial Mortgage LLC, for Wasatch Premier Properties. The loan was arranged through Fannie Mae.
SEATTLE – The 360-unit Waterford Place Apartments in the Seattle submarket of Woodinville has sold to Grosvenor Americas for an undisclosed sum. The new owners plan to renovate the property. Pete Shelton and Kim Grant of Cushman & Wakefield represented the seller in the transaction.
ENCINO, CALIF. – The 45-unit Margate Imperial Apartments in Encino has sold to a family partnership for $9.65 million. It is located at 17849 Margate Street. Michael Hanassab and Elliot Hassan of Marcus & Millichap’s Los Angeles office represented the buyer and the unnamed seller in this transaction.
LARGO, FLA. — Marcus & Millichap has arranged the $4.9 million sale of the 96-unit Dairy Place Apartments, a multifamily property located at 6701 Bryan Dairy Road N. in Largo. Michael Regan, Francesco Carriera and Nicholas Meoli of Marcus & Millichap represented the seller, a Kansas-based financial institution, in the transaction. Regan and Carriera also represented the Florida-based buyer.
TALLAHASSEE, FLA. — Cabat Properties has acquired the 180-unit Monterey Apartments, a multifamily property located at 2301 Old Bainbridge Road in Tallahassee, from Monterey Associates for $3.75 million. The buyer plans to renovate and reposition the property. Gerald Smith of Smith Equities Real Estate Investment Advisors represented the seller in the transaction.
HOUSTON AND AUSTIN — Mill Creek Residential Trust has acquired three apartment communities totaling 589 units in urban in-fill locations in Houston and Austin. The communities include the 162-unit La Tour Fontaine in Houston's Galleria submarket, the 219-unit Place at Greenway in Houston near Greenway Plaza and the 208-unit Woodmoor located in Austin's South Lamar corridor.
SAN ANTONIO — MAA has purchased the 436-unit Haven at Blanco, an upscale multifamily community located at 15150 Blanco Road in San Antonio. Haven at Blanco's amenities include a private entrance gate, resort-style swimming pool with cabanas, heated spa and attached and detached garages.
DEL MAR, CALIF. – The 76-unit Chelsea apartments in Del Mar has sold to Stratford Partner, LLC for $3 million. It is located at 57 N. Alma School Road. The sellers, Jay and Marsha Scott, were represented by Robert Chester with Quantum Realty Partners, LLC.