AUBURN, WASH. — Brandon Grisham and Scott Morasch of Marcus & Millichap’s Seattle office represented the undisclosed seller in the disposition of Valentia Apartments. The 48-unit property is located at 812 10th St. NE. The asset sold for $3 million to an undisclosed seller.
TUJUNGA, CALIF. — Kevin Hurley of Hendricks & Partners’ Pasadena, Calif., office represented the seller, Huntington Beach, Calif.-based 6834-6838 Valmont Street LLC, in the disposition of Valmont View in Tujunga. Located at 6834-38 Valmont St., the nine-unit apartment community sold for $1.1 million. The La Crescenta, Calif.-based buyer was Jorge Molina and Maria A. Molina, trustees of the Jorge Molina and Maria A. Molina Revocable Trust U/T/A January 9, 2004.
RALEIGH, N.C. — St. Germain, Wis.-based Eliason 1031 Properties has purchased the 228-unit Midtown Crossing apartment complex from DRA Advisors for an undisclosed amount. Located at 317 Lynn Rd. in Raleigh, the complex includes a fitness center, a swimming pool, a volleyball court, a 24-hour business center and a car-care facility. Apartment Realty Advisors’ Blake Okland and Dean Smith represented the seller.
OSCEOLA COUNTY, FLA. — Maesbury Homes, as owner and developer, has begun construction on the 124-unit Caleb’s Club Townhouses in Osceola County. The two-story townhouses will range in size from 1,680 square feet to 1,860 square feet. Property amenities include an indoor arcade, a fitness center with steam and sauna rooms, a pool and a 7,800-square-foot clubhouse. Altamonte Springs, Fla.-based Forum Architecture & Interior Design is serving as architect/interior designer for the community. KTD Consulting Engineers and ONM&J Structural Engineers will provide engineering assistance.
WATERTOWN, N.Y. — Newton Square, Pa.-based GMH Capital Partners had brokered the sale of Woodcreek Apartments, a 104-unit multifamily community located in Watertown, for $4.25 million. Fully occupied at the time of closing, the community is situated adjacent to Fort Drum Military Reservation. It consists of 13 two-story, garden-style buildings. Each unit totals 900 square feet. Dave Forrest and Tom Haak of GMH represented the undisclosed seller. The buyer was Rochester, N.Y.-based Conifer Realty.
EL PASO, TEXAS — Albuquerque, N.M.-based The Vaughan Company has completed the sale of a three-property multifamily portfolio in El Paso. The three apartment communities include The Village Apartments, an 87-unit property located at 5900 Enterprise Court; Village Two Apartments, a 72-unit property located at 140 Shadow Mountain Dr.; and Three Fountains Apartments, a 77-unit property located at 368 Shadow Mountain Dr. The Vaughan Company’s Richard Abel represented both undisclosed parties in the transaction. Acquisition financing was obtained from The Bank of Albuquerque.
HOUSTON — Capmark Finance has secured a $13.2 million loan for the refinancing of Briarwood Village Apartments, a 342-unit multifamily community located in the Briar Forest/Ashford submarket of Houston. Situated on approximately 13.6 acres, the property comprises 27 two-story, garden-style buildings. Unit amenities include patios or balconies, fireplaces and central air conditioning. Community amenities include a fitness center, two swimming pools and two laundry rooms. Scott Dow of Capmark’s Boston office originated the financing on behalf of the borrower, an affiliate of Boston-based Berkshire Property Advisors. The lender was Freddie Mac.
SAN FRANCISCO — Group 24 LLC has become a 50 percent partner with Turnberry Ltd. for the development of Turnberry Tower, a condominium tower located in San Francisco’s Rincon Hill neighborhood. Located at 45 Lansing St., the 40-story tower will offer one-, two- and three-bedroom residences, townhouses, penthouses and tower-suite units. Condominiums will range in size from 1,000 to more than 3,800 square feet and offer outdoor terraces featuring views of the city, bay and bridge. Additionally, the project will feature a fitness center, an indoor swimming pool, and 24-hour valet parking, security, concierge and front desk personnel. The $300 million project is the first collaborative effort for the companies.
CHICAGO — Essex Realty Group has brokered the sale of a senior housing community located at 6550 N. Damen within Chicago’s Rogers Park neighborhood. The 21-unit property consists of 15 one-bedroom and six two-bedroom units. The building operates as a Senior Section 8 HUD Property under Housing Assistance Payment (HAP) contract. Matt Welke of Essex represented the seller in the transaction. An undisclosed buyer purchased the property for a sales price of approximately $2.2 million.
DANVILLE, ILL. — Cambridge Realty Capital Cos. has provided a $12.6 million FHA-insured first mortgage loan to fund the purchase of a 140-bed skilled nursing/board and care facility located in Danville. The Hawthorne Inn of Danville includes 64 skilled nursing units and 76 board and care units. The fully-amortized, 35-year term mortgage was arranged for an Illinois limited liability company by Cambridge Realty Capital Ltd. of Illinois. The interest rate for the loan was not disclosed.