SPARTANBURG, S.C. — The 369-unit Wildewood Apartments, located at 350 Bryant Rd. in Sparatanburg, has sold for $6.4 million. Tony Bonitati, John Gray and Kay Hill of Greenville, S.C.-based NAI Earle Furman represented the seller in the transaction. Bowman Investments, the buyer, plans to invest $1 million to renovate the property and rebrand it as Woodland Park Apartments.
Multifamily
NEW YORK CITY — A development site at 1002 Bushwick Ave. in Brooklyn's Bushwick neighborhood has sold for $1.3 million. The site includes an 8,810-square-foot building with an auditorium, common kitchen and a 5,000-square-foot parking lot. The building is currently used to host international volunteers for a local non-profit. The site offers approximately 26,740 buildable square feet. Michael Amirkhanian of Massey Knakal represented the buyer, a local developer, and the seller in the deal. The new owner plans to convert the building into apartments.
TEMPE, ARIZ. — The Villas, a 137-unit apartment community in Tempe, has sold to RND11, LLC for $5,975,000. The community is located at 1718 S. Jentilly Lane. The seller, LBUBS 2007-C7 South Jentilly Lane, LLC, an entity controlled by LNR Partners, was represented by David Fogler and Steven Nicoluzakis of Cassidy Turley’s Multi-Family Service Group.
BRADENTON, FLA. — The 80-bed Langdon Hall, an assisted living facility located at 1120 33rd Ave. W. in Bradenton, has sold for $4.9 million. The 55,275-square-foot building is 88 percent leased. Kenneth Carriero and Damien Carriero of Colliers International's Clearwater, Fla., office represented the seller, Ohio-based Langdon Hall LLC, in the transaction and procured the buyer, Chicago-based Aviv REIT.
LA VISTA, NEB. — Harrison Heights, a112-unit senior apartment community has opened in LaVista, a suburb of Omaha. Harrison provides independent living with no income restrictions for those age 55 and above. Located at 7544 Gertrude St., the apartments include one- and two-bedroom apartments. The apartments include a community room with kitchen, a lounge with fireplace and community laundry. Wheatfield, N.Y.-based Calamar owns the $10 million property.
ALPHARETTA, GA. — Dayton, Ohio-based The Connor Group has purchased the 344-unit Belmont at Park Bridge, an apartment complex located at 150 Rockberry Ln. in Alpharetta, from Belmont at Park Bridge Inc. for $26.15 million. Amenities include a fitness center, laundry facilities, a pool and tennis courts. The company also owns Addison Place and Ashley Forest, two neighboring properties.
GREENVILLE, N.C. — The 503-bed University Suites, located at 2200 University Suites Dr. in Greenville, has sold for $15.5 million. The property serves Eastern Carolina University. Alan Meetze and David Hudgins of Drucker & Falk's Newport News, Va., office represented University Suites at ECU LLC, the seller, in the transaction. The buyer was 2200 University Suites.
LAKELAND, FLA. — The 236-unit Martin's Landing Apartments, located at 3520 Cleveland Heights Blvd. in Lakeland, has sold on Auction.com for $6.82 million. John Stone of Colliers International's Tampa Bay, Fla., office represented the seller, 3520 Cleveland Heights LLC, in the all-cash transaction. Kevin Kelleher of Franklin Street's Tampa office represented the buyer, Integritas Residential.
HERMANTOWN, MINN. — Dougherty Mortgage LLC has arranged a $3.8 million FHA-insured loan for the refinancing of Green Acres, a 65-unit rental townhome property. Green Acres is located at 5060 Jennifer Circle in Hermantown, a suburb of Duluth. Ned Foster of Dougherty's Minneapolis office secured the 35-year, fixed-rate loan for GMP Living Inc.
METHUEN, MASS. — Beech Street has arranged an $11.2 million Fannie Mae loan for the acquisition of Colonial Village, a 148-unit apartment complex in Methuen. The six-building property was built in 1970, with a club house added in 1978. Michael Edelman of Beech Street's New York office originated the 10-year, fixed-rate loan. The loan has 2.5 years of interest-only payments.