NEW YORK CITY — Adjacent apartment buildings located at 4706-4712 4th Ave. have sold for $4.4 million in the Sunset Park neighborhood of Brooklyn. A local investor purchased the two buildings, which contain 16 units. Adam Hess of TerraCRG represented the buyer in the transaction.
OKLAHOMA CITY — ARA has arranged the $77 million sale of The Lincoln at Central Park Apartments, a 708-unit community located at 500 Central Park Dr. in Oklahoma City. The property was built in two phases in 2007 and 2010 by the seller, Oklahoma City-based Gardner Tanenbaum Group, and sits on approximately 50 acres. Brian O'Boyle, Bart Wickard and Brandon Lamb of ARA represented the seller in the transaction.
LAS VEGAS — A 220-unit apartment complex located at 2844 N. Walnut Road in Las Vegas has sold to Sunset Terrace Partners, LLC for $3.74 million. The seller, Farmers & Merchant Bank, was represented by Patrick Sauter of NAI Sauter Companies in this transaction.
FORT MYERS, FLA. — The 320-unit The Brittany Apartments, a multifamily tax-credit property located at 4050 Winkler Ave. Extension in Fort Myers, has sold for $10.35 million. The property, which is 85 percent leased, is near Florida Gulf Coast University. Jeffrey Meyer of Marcus & Millichap's Tampa, Fla., office, along with Shahar Ziv of the firm's San Diego office, represented the seller, a Fort Myers-based development group, in the transaction and procured the buyer, a Tampa Bay-based private investor.
VIERA, FLA. — Love Funding has arranged $8.56 million in construction and permanent financing for the 102-bed Viera Manor Assisted Living Facility, a new property located in Viera that will give veterans priority admission for 80 percent of available units. Laura Saull-Smith of Love Funding's Washington, D.C., office arranged the loan through HUD's Section 232 loan insurance program on behalf of the borrower, INVENCO Seniors Housing.
COLUMBIA, S.C. — Capital Advisors has secured $8.1 million in financing for the 220-unit Tamarind at Stoneridge Apartments, located at 143 Stoneridge Dr. in Columbia. Matt Good of Capital Advisors arranged the 10-year loan with 30 months of interest-only payments and a 30-year amortization schedule through Red Capital Group on behalf of the borrower, Cresof Tamarind LLC.
NEW YORK CITY — Houlihan-Parnes Realtors has arranged a $3.8 million first mortgage loan for 30-32 E. 38th St., a six-story apartment building in Manhattan. The 10-year, non-recourse loan has a fixed interest rate of 3.55 percent for 5 years. The first 2 years of the loan include interest-only payments. Sheldon Stahl and Fred Stahl of Houlihan Parnes arranged the loan on behalf of CLK Properties and an affiliated company.
FALLBROOK, CALIF. – Summer Ridge, a 96-unit affordable housing complex in Fallbrook, has sold to Summer Ridge 96 LP for $6.8 million. The community is located at 818 East Alvarado Street. The buyer is a California limited partnership with Social Services & Affordable Housing Corporation. Chris Hutchison of Alcole Capital and Gregory Reed of Beech Street Capital arranged $5.4 million in financing for the transaction. The transaction was executed by Allen Chitayat and Steve Huffman of Hendricks & Partners’ San Diego office and Douglas Simmons of DWS Real Estate.
LA MESA, CALIF. – The 26-unit La Mesa Villas apartments in La Mesa has sold to Pine Street Park LLC for $3.75 million. The community is located at 8862 La Mesa Blvd. The seller, First Fund LLC, was represented by David Andrews of Hendricks & Partners’ San Diego office.
WEST HOLLYWOOD, CALIF. – A seven-unit apartment complex located at 144 North Wetherly Drive in West Hollywood has sold to KLB Holding Company for $2.35 million. The 10,830-square-foot complex was built in 1963. KLB was represented by Rachel Neuwirth of Nelson Shelton & Associates. The seller, a local private investor, was represented by Hamid Soroudi of Charles Dunn Company.
