HOUSTON — NorthMarq Capital has arranged permanent financing for the 304-unit Broadstone West 18th, a multifamily property located at 2727 W. 18th St. in Houston. Greg Duvall of NorthMarq's Kansas City, Mo., office arranged the financing with a 10-year term and 30-year amortization schedule through AmeriSphere Multifamily Finance on behalf of the borrower, West 18 Street Apartments Owner.
CARY, N.C. — Bell Partners has purchased the 360-unit Century Preston Reserve Apartments, a Class A apartment community located at 200 Berwick Valley Ln. in Cary, for $40.5 million. Bell plans to manage the property, which will be renamed Bell Preston Reserve.
LAWRENCEVILLE, GA. — Atlanta-based Carroll Organization has purchased the 222-unit Carrington Place Apartments, located at 156 Bethesda Church Rd. in Lawrenceville, from Atlanta-based Davis Development for an undisclosed price. Colliers International represented the seller in the transaction.
CHARLESTON, S.C. — Chaleston-based One Eleven Partners has brokered the sale of the 200-unit Ashley Crossing Apartments, located at 2235 Ashley Crossing Dr. in Charleston. Chris Yeagle of One Eleven represented the seller, GS Ashley Crossing, in the transaction.
NEW YORK CITY — The 42-unit The Kingsland, located at 838 Riverside Dr. in New York City's Washington Heights neighborhood, has been sold for $9.4 million. The property spans 56,190 square feet and features new gas lines and a rubber roof. Robert Shapiro of New York City-based Massey Knakal represented the undisclosed seller in the transaction.
ROCKLAND COUNTY, N.Y. — Marcus & Millichap has arranged $17 million in construction financing for a 110-unit luxury multifamily property, located in Rockland County. Steven Rock of Marcus & Millichap's Manhattan office arranged the loan.
MELBOURNE, FLA. — CB Richard Ellis has negotiated the $17.34 million sale of the 378-unit the Harbours, located at 1032 Hidden Harbour Dr. in Melbourne. The Harbours contains two properties, Harbour and Hidden Harbour, both of which were 93 percent occupied at closing. Shelton Granade and Luke Wichkham of CB Richard Ellis' Orlando, Fla., office represented the seller, AIMCO, in the transaction. White Eagle Investment was the buyer.
WASHINGTON, D.C. — Donatelli Development has sold the 190-unit The Ellington Apartments, located at 1301 U St. NW. in Washington, D.C., to TIAA-CREF for $100 million. The seven-story apartment building also has 17,000 square feet of retail space on the ground floor, which is leased to six tenants. Donald B. Tennant, Jr., of NorthMarq's Bethesda, Md., office represented the seller in the transaction. Ed McEnery and Doug Smith of Deepwater Advisors represented the buyer.
ARLINGTON, VA. —Deutsche Bank Berkshire Mortgage has secured $49.5 million in acquisition financing for the 217-unit Twenty400, a multifamily property located at 2400 24th St. S. in Arlington, on behalf of the borrower, a joint venture between UDR and Kuwait Finance House. The 5-year, interest only loan was arranged through Fannie Mae.
GROVERPORT, OHIO — Chicago-based October Investments Properties has purchased the 126-site Greenfield Estates Manufactured Home Community, located at 5215 Groveport Rd. in Groveport, for an undisclosed price. Todd Fletcher of ARA's Denver office along with Andrew Shih of ARA's Austin, Texas, office represented the seller, a special servicer, in the transaction.
