SAN ANTONIO — Paseo Pointe, a 252-unit multifamily property located at 3787 Perrin Central Blvd. in San Antonio, has changed hands. Built in 2003, it consists of 144 one-bedroom, 84 two-bedroom and 24 three-bedroom units. Amenities include carports, garages, a pool and a fitness center. San Antonio-based Perrin Oaks I, Ltd. sold the property to Austin-based Sendera SA Investments, L.P. Mike Miller and Will Caruth of Hendricks & Partners' San Antonio office represented both parties.
SEATTLE — McQuaid Commercial Real Estate has brokered the $2.05 million sale of a 24-unit multifamily property located at 3515 SW Ocean View Drive in southwest Seattle. Built in 1979 and managed by one of five owners, the building was sold, for the first time ever, to David Katt, a local investor working a tax-deferred exchange. Michael McQuaid represented the seller group in the all-cash transaction.
TUSCALOOSA, ALA. — NorthMarq Capital's Atlanta Regional office has arranged $31 million in first mortgage financing for Woodlands of Tuscaloosa, which is located at 100 Hargrove Road East in Tuscaloosa. The 204-room student housing property offers 708 beds. Financing was based on a 7-year term with a 30-year amortization schedule. Bruce Foster of NorthMarq arranged the financing for the borrower, Woodlands of Tuscaloosa Phase I LLC, through NorthMarq's seller-servicer relationship with Freddie Mac.
NEW YORK CITY — Cignature Realty has completed the sale of two multifamily buildings in New York City's Washington Heights neighborhood for $13.85 million. The first building is located at 336 Fort Washington Ave.; it contains 75 apartments and four professional office spaces. Average apartment rent is $1,045. The second building is located at 220 Wadsworth Ave.; it contains 50 apartments and two retail stores. The average rent per apartments is $987. Cignature represented the buyer, a real estate investment group, and the seller, Kingsley Court Associates.
NEW BRITAN, CONN. — Chozick Realty has brokered the sale of a 63-unit student housing property for $4.3 million. Campus View Apartments is located at 1300-1412 East St. in New Britain at the entrance to Central Connecticut State University. The property was built in 1970 and renovated approximately 10 years ago. A majority of the units contain two bedrooms. Rick Chozick and Steve Pappas of Chozick Realty represented the seller, 1300 East Street Holdings LLC, and procured the buyer, a regional owner of multifamily properties.
ABILENE — The Ensign Group has acquired Wisteria Place, a continuing care retirement community, and its sister facility, Wisteria Independent Living, both in Abilene. The facilities will be operated by a subsidiary of Keystone Care, Ensign's Texas-based portfolio subsidiary. Wisteria Place is a full-service care campus located at 3202 S. Willis St. in Abilene that operates 123 skilled nursing beds, 77 assisted living units and 20 independent living cottages. Wisteria Independent Living is located at 3917 Wisteria Way in Abilene and operates 72 independent living units.
WICHITA, KAN. — Walker & Dunlop has provided a $15.42 million permanent finance loan for Reflection Ridge in Wichita. The 119-unit independent living community features a resort-style dining, a fitness center, a whirlpool/spa, a communications center, a library, a 150-seat theater, a lounge, a bank, a pharmacy, a gift shop and garage/storage options. The 10-year term loan carries a 30-year using Freddie Mac's CME product. The borrower was Resort Lifestyles Communities. Midwest Commercial Mortgage originated the loan. Vic Clark and Doug Bath led the Walker & Dunlop team in the transaction.
HOMESTEAD, FLA. — Marcus & Millichap has brokered the sale of the South Dade Portfolio, a two-community multifamily portfolio in Homestead. The properties offer a total of 150 units. The properties are located at 15451 S.W. 288 Street and 527 Flagler Avenue. A North Miami, Fla.-based investor acquired the portfolio for $5.59 million. Daniel Draizin, Evan Kristol and Still Hunter III of Marcus & Millichap's Ft. Lauderdale, Fla., office represented the seller, an undisclosed investor from Coral Gables, Fla., in the transaction.
JACKSONVILLE, FLA. — Atlanta-based Wood Partners has purchased Magnolia Village Apartments, a Class A multifamily property in Jacksonville. Constructed in 2008 and situated on 8.44 acres at 1620 Bartram Road, the six-building property offers 168 units. The gated community offers one-, two- and three-bedroom floorplans, General Electric kitchen appliances, maple-finished cabinets, ceramic tile in the kitchen and foyer, built-in computer desks, high-speed Internet wiring, ceiling fans, and washers and dryers. The community includes a clubhouse, a resort-style swimming pool with a large sundeck and poolside WiFi access and a fully equipped fitness center. Lubert-Adler and Carter & Associates are equity partners on the acquisition, which was brokered by Atlanta-based Apartment Realty Advisors.
NORCROSS, GA. — CB Richard Ellis Capital Markets has secured a $16.8 million loan for Park Partners LLC for the refinancing of Wesley Park in Norcross. The 14-building apartment community offers 370 units and is more than 91 percent leased. The lender was State Farm Insurance Co. CBRE Debt & Equity Finance's John Farrell, Robert LaCapelle and Richard Jordan secured the loan.