PEORIA, ARIZ. – The 216-unit Suntree apartment community in Peoria has sold to Monterey Pines Apartments, LLC, for $8,108,000. Monterey Pines plans to renovate and rebrand the complex, which was built in 1984. It will retain MEB Management Services to manage the property. Steve Gebing, Cliff David and Rich Butler of Marcus & Millichap’s Phoenix office listed the property exclusively on behalf of Jodi Sheahan, the court-appointed receiver for certain assets of Suntree Apartments LLC.
DENVER – The 23-unit 915 Carr Street apartment complex in Denver has sold for $1.6 million. The complex was built in 1968 and resides near the Lakewood Country Club. Pinnacle Real Estate Advisors’ Matt Lewallen and Kevin Calame represented the seller. The firm’s Matt Ritter and Jeff Johnson represented the buyer.
TAMPA, FLA. — Franklin Street Real Estate Services has brokered the $3.35 million sale of the 78-unit Villas at Legends Field Apartments, located at 6059 N. Church Ave. in Tampa. Darron Kattan, Bob Goldfinger and Kevin Kelleher of Franklin Street's Tampa office represented the seller, a Florida-based private apartment owner, and procured the buyer, a California-based private investor who completed a Section 1031 exchange by acquiring three properties in the Tampa Bay market.
MIAMI LAKES, FLA. — NorthMarq Capital has secured a $32 million mortgage for the 464-unit The Graham Cos. Apartment Portfolio in Miami Lakes. Jeff Robertson of NorthMarq's Miami office arranged the 10-year financing with a 30-year amortization schedule through New York Life Insurance Co. on behalf of the borrower, The Graham Cos.
COLUMBIA, MO. — St. Louis-based Bozoian Group Architects has completed design work for the $16.1 million, 376-bed renovation of the 105,000-square-foot Mark Twain residence hall and dining facility, located at 515 S. 5th St. in Columbia on the University of Missouri's campus. The project includes the renovation of the entry and all common areas, improvements to rooms, expansion and remodel of the Mark Twain Market dining facility, and a new facade, windows and facility systems. Completion is slated for the summer of 2013.
NEWARK, N.J. — TreeTop Development has purchased the 115-unit Willie T. Wright Apartments, located at 135 Prince St. in Newark. TreeTop is planning to invest $1.5 million for capital improvements to the three-story garden-style complex, including renovation of the common areas, unit interiors and the site landscaping.
KEY WEST, FLA. — Deerfield Beach, Fla.-based SIKON Construction has completed the $4.8 million, 100-bed Lagoon Landing, a student housing property for Florida Keys Community College in Key West. This is the college's first student housing facility. Student Suites South Florida was the developer for the project and St. Petersburg-Fla.-based Hayes Cumming Architects designed the building.
WILMINGTON, N.C. — NorthMarq Capital has arranged $15.5 million in first mortgage financing for the 332-unit The Keys at Seventeenth Street, located at 4129 Hearthside Dr. in Wilmington. Todd Crouse of NorthMarq's Raleigh office arranged the financing with a 10-year term and a 30-year amortization schedule through ING.
OMAHA, NEB. — Bob Chalupa of Omaha-based Q10 — Daisley Ruff Financial Corp. has arranged $9.6 million in permanent financing for the 114-unit Pinhook Flats, located at 6440 Cedar Plaza in Omaha in the Aksarben redevelopment. In addition to the apartment units, the property contains five commercial bays and an underground parking garage. The 10-year loan has a 30-year amortization schedule.
SIOUX CITY, IOWA — NorthMarq Capital has arranged $3.27 million in first mortgage financing for the 84-unit Barrington Park Apartments, located at 3632 Glen Oaks Blvd. in Sioux City. John Bendon of NorthMarq's Omaha, Neb., office secured the 10-year loan with a 30-year amortization schedule through Freddie Mac.