SPRING, TEXAS — NorthMarq Capital has arranged $12.84 million in Freddie Mac financing for Stoneleigh on Spring Cypress, a 216-unit multifamily community located at 7215 Spring Cypress Road in Spring. The loan carries a 7-year term and a 30-year amortization schedule. William Jackson of NorthMarq's Dallas office arranged the loan on behalf of the undisclosed borrower.
LOS ANGELES — Charles Dunn Co. has arranged the $8.5 million acquisition of a 24,258-square-foot multifamily property located at 16070 W. Sunset Blvd. in the Pacific Palisades area of Los Angeles. The brokerage firm’s Hamid Soroudi represented Xenon Investment Corp. in its purchase from Acron II Partners.
GREER, S.C. — Columbus Pacific Properties (CPP) has acquired West Chase Apartment Homes in Greer. The Class A, 192-unit multifamily property sold for $11.1 million. Situated on 14.23 acres, the property offers spacious units, a resort-style pool, a playground, a pet park, picnic areas, a fitness center, a laundry facility and a car-care center. The buyer secured a 65 percent permanent loan through Walker & Dunlop and George Smith Partners for the acquisition. Mike McGaughy and Jon Kleinberg of Transwestern represented the buyer and seller, Greystar Management Services, in the transaction.
CHICAGO — NorthMarq Capital has arranged $55 million in first mortgage financing for Columbus Plaza in Chicago. Located at 233 E. Wacker Dr., the high-rise multifamily property offers 533 apartment units. The financing was based on a 7-year term with a 30-year amortization schedule. Sue Blumberg of NorthMarq's Chicago Regional office arranged the financing for the borrower, Columbus Plaza Venture LLC, through NorthMarq's affiliate AmeriSphere Multifamily Finance.
LEAWOOD, KAN. — David Farrell of NorthMarq Capital's Kansas City Regional office has arranged $2 million in second mortgage financing for Leawood at Stateline in Leawood. The 254-unit multifamily property is located at 2140 W. 137th Terrace. Financing was based on an 8.5-year term with a 30-year amortization schedule. The loan was arranged through NorthMarq's seller-servicer relationship with Freddie Mac.
CAMP HILL, PA. — Wolfe & Company Realtors has brokered the sale of an 18-unit apartment property located at 2003 Market St. in Camp Hill. Buz Wolfe and Gary Sausser of Wolfe & Co. represented both parties in the deal. The names of the buyer and seller were undisclosed.
PHOENIX — Marcus & Millichap has negotiated the $5.1 million sale of the 236-unit Pines of Camelback, an apartment property located directly across from a Metro light-rail train station at 4802 North 19th Ave. in Phoenix. Now being called Camelback @ the Stop, the property built in 1973 was 75 percent occupied at closing. Marcus & Millichap’s Michael Hubl represented the seller, a special servicer working on behalf of the lender, in the transaction. The buyer, a limited-liability company, plans to redevelop the property as an affordable-housing community.
ENCINITAS, CALIF. — NorthMarq Capital has arranged a $6.45 million first-mortgage loan for The Sands, a 58 single-pad mobile-home park located at 1624 North Hwy. 101 in Encinitas. Set up by the firm’s Charles Cotsalas and Ernest DesRochers, financing was based on a 10-year term with a 30-year amortization schedule. NorthMarq worked in conjunction with Michael Groothuis of Groothuis & Co.
MISHAWAKA, IND. — Marcus & Milichap has brokered the separate sales of two multifamily properties in Mishawaka. The assets include the 82-unit McKinley Woods and the 154-unit Pin Oak Manor. Michael Wernke and James Walsh of Marcus & Millichap represented the sellers, POM Associates and Pin Oak Apartments LP, in the transaction. The buyers and acquisition prices were not released.
HAWTHORNE, CALIF. — Marcus & Millichap has negotiated the almost $6.73 million purchase of an 81-unit apartment property located at 13715 Cordary Drive in Hawthorne. The brokerage firm’s Gordon Reese represented the buyer, a limited-liability company, in the transaction.