Multifamily

AUSTIN — ARA has arranged the sale of the 178-unit Lantern Hill, a 1960s vintage apartment complex located at 1550/1501 Reagan Hill Dr. in Austin. The garden-style property is currently 95 percent occupied. Andrew Shih of ARA's Austin office represented the seller, a California-based investor in a 1031 exchange, in the transaction. San Diego, Calif.-based Quez Capital purchased the property, which is their second apartment acquisition in Austin. Quez is planning on replacing the roof, landscaping the property and installing a new playground. Austin-based Green Bank provided acquisition financing for the transaction.

FORT WORTH — Arbor Commercial Funding has provided $11.55 million in acquisition financing for the 784-unit Ladera Palms, a multifamily property located at 4500 Campus Dr. in Fort Worth. The Fannie Mae DUS loan has a 10-year term and a 30-year amortization schedule. The property features six in-ground swimming pools, a playground, a basketball court, a fitness center and three tennis courts.

HOUSTON — Carroll Organization has acquired the 267-unit Waterford Place, an apartment community located at 3125 Crestdale Dr. in Houston. The complex will soon be re-branded as ARIUM Fall Creek. The property features chef's kitchens, a resort-style pool, garages, a WiFi computer lounge and a fitness center. The community was financed through Carroll Fund I, a private fund, and Carroll Management Group is managing the property.