Multifamily

$15.3 MILLION SENIOR LIVING PROJECT BREAKS GROUND IN GEORGIA

by admin March 25, 2011

WOODSTOCK, GA. — The NorSouth Companies has broken ground for the development of Hearthside at Towne Lake, an affordable senior living community in Woodstock. The $15.3 million community, which is restricted to residents age 62 and older, will offer 100 apartment units, private gardens, a residents' lounge and media room, a fitness center, a sunroom and a bocce ball court. Additionally, the one- and two-bedroom units will feature kitchens with pantries, ENERGY STAR appliances, microwaves, washer/dryer hookups and walk-in closets. The senior living community will serve as the centerpiece for Madison Pointe at Towne Lake, a mixed-use development in Woodstock.

March 25, 2011

TWO MULTIFAMILY PROPERTIES SELL FOR $4.5 MILLION IN NAPLES, FLA.

by admin March 25, 2011

NAPLES, FLA. — Colliers International has brokered the sales of two multifamily properties in Naples totaling $4.5 million. In the first transaction, GIGA Apartments LLC purchased River Park Apartments, located at 330 11th St., for $2.2 million. Built in 1960, the nine-building complex offers 104 units with a total of 56,435 rentable square feet. In the second deal, Lo Exclusive LLC took Gordon River Apartments, which is located at 1400 N. 5th Ave., for $2.3 million. The 12-building property, which was built in 1969, offers 92 units with a total of 70,369 rentable square feet. Jim Garinger of Colliers International Southwest Florida, along with John Stone and Jason Stanton of Colliers International Tampa Bay Florida, facilitated the sales.

March 25, 2011

Midwest Multifamily

256-UNIT MULTIFAMILY PROPERTY SELLS FOR $18 MILLION IN INDIANA

by admin March 25, 2011

AVON, IND. — Thiemann Real Estate has acquired Washington Quarter Apartments in Avon. The 256-unit, Class A multifamily property sold for $18 million. Constructed in 1999 and currently 95 percent occupied, the property features one-, two- and three-bedroom units, a clubhouse with a fitness room, billiards room and a swimming pool, a car wash station, a sand volleyball court, a basketball court and a picnic area. Kevin MacKenzie and Jon Everson of Holliday Fenoglio Fowler (HFF) represented the buyer; John Sebree and David Keller, also of HFF, represented the seller, Crossmann Properties LLC, in the transaction.

March 25, 2011

Multifamily Southeast

BEECH STREET CAPITAL PROVIDES $9.9 MILLION LOAN FOR VIRGINIA APARTMENTS

by admin March 24, 2011

CULPEPER, VA. — Beech Street Capital has provided a $9.9 million Fannie Mae DUS loan to refinance the Friendship Heights Apartments in Culpeper. Built in 1987, the garden-style apartment complex offers 210 units, a basketball court and a playground. The fixed-rate loan has a 7-year term with 6.5 years of yield maintenance and a 30-year amortization schedule payable on an actual/360 basis. The loan was originated by Meridian Capital Group

March 24, 2011

Multifamily Southeast

SVN BROKERS $2.4 MILLION MULTIFAMILY SALE IN FLORIDA

by admin March 24, 2011

AVENTURA, FLA. — Sperry Van Ness (SVN) has brokered the sale of Terzetto at Aventura, loft land parcel and a 1.71-acre land site in Aventura. Located at the corner of Northeast 185th Avenue and Northeast 28th Court, the property was previously approved for a 13-story, 138-unit multifamily loft project. Lubavitch Center Aventura South Inc. purchased the asset for $2.4 million or $32.08 per square foot. Keith Kidwell of SVN represented the seller, MGAL REPH I, II, III LLC and receiver, Phil von Kahle of Michael Meocker & Associates, in the transaction.

March 24, 2011

Midwest Multifamily

TWO MULTIFAMILY PROPERTIES SELL IN CHICAGO FOR $2.64 MILLION

by admin March 24, 2011

CHICAGO — Essex Realty Group has brokered two multifamily sales totaling $2.64 million in Chicago. In the first sale, Essex's Doug Fisher brokered the sale of a vintage apartment building in Chicago's Rogers Park neighborhood. Located at 1546 W. Jonquil Terrace, the 27-unit property sold for approximately $1 million. The building offers nine studio units, 17 one-bedroom units and one two-bedroom units. The buyer and seller were not disclosed. In the second transaction, Essex's Doug Imber negotiated the $1.64 million sale of a 41-unit vintage apartment building, located at 6818 N. Wayne in Chicago's Rogers Park neighborhood. The building consists of 39 studio units and two one-bedroom units. The seller and buyer were not released.

March 24, 2011

Midwest Multifamily

65-UNIT MULTIFAMILY PROPERTY SELLS IN CHICAGO'S SOUTH SHORE DISTRICT

by admin March 24, 2011

CHICAGO — Marcus & Millichap has brokered the sale of a 65-unit multifamily property located at 7733 South Shore Dr. in Chicago's South Shore neighborhood. An undisclosed buyer acquired the property for $1.65 million or $25,461 per unit. Build in 1968, the building offers studio, one- and two-bedroom units and available on-site parking. Eric Bell of Marcus & Millichap represented the undisclosed seller in the transaction.

March 24, 2011

Midwest Multifamily

Q10|DAISLEY RUFF ARRANGES $5.85 MILLION MULTIFAMILY LOAN IN NEBRASKA

by admin March 24, 2011

OMAHA, NEB. — Steve Ruff of Q10|Daisley Ruff Financial has arranged a $5.85 million loan for an apartment building in Omaha. The multifamily property offers 156 apartment units. The loan features a 15-year, fixed rate under 4 percent.

March 24, 2011

Multifamily Northeast

ORBACH GROUP ACQUIRES PA. APARTMENT COMMUNITY FOR $15.5 MILLION

by admin March 24, 2011

BENSALEM, PA. — New Jersey-based The Orbach Group has purchased Hamilton Court East, a 192-unit multifamily community located in Bensalem, for $15.5 million. The property comprises 15 two-story buildings containing one- and two-bedroom units. Rents range from $795 to $1,145. All of the units have been recently renovated or are set to undergo renovations in the coming weeks. The seller's name was not released.

March 24, 2011

Multifamily Western

MARCUS & MILLICHAP MANAGES MULTIFAMILY MOVE MERITING MANY MILLIONS

by admin March 24, 2011

ANAHEIM, CALIF. — Marcus & Millichap has presided over the $6.31 million trade of La Palma Apartments, a 61-unit apartment property located at 317 East La Palma Ave. in Anaheim. Built in 1970 and 95 percent occupied at time of sale, the multifamily property consists of 19 two-bedroom/one-bath units and 42 one-bedroom/one-bath units. Marcus & Millichap’s Hiu Chan represented both the limited-liability-company buyer and the private-investor seller in the transaction.

March 24, 2011

Newer Posts

Older Posts