SANDY SPRINGS, GA. — Mickey Rist of Love Funding's Detroit office and Bruce Gerhart of the firm's Cleveland office have secured a $7.95 million loan for the Dogwood Forest of Dunwoody. The 86-bed assisted living facility is located at 7400 Peachtree Dunwoody Road in Sandy Springs. Amenities include walking paths, an exercise room, activity rooms and a barber shop. The refinancing was secured through the HUD 232/223(f) program. The loan carries a 5.35 percent interest rate and a 35-year amortization schedule.
NEW YORK CITY — Massey Knakal has brokered the sale of a four-story residential building in New York City for $4 million. Located at 851 Lexington Ave. on Manhattan's Upper East Side, the building contains two retail spaces on the first two floors and two studio apartments on the top two floors. Massey Knakal's Guthrie Garvin was the sole broker in the deal.
SAN MATEO, CALIF. — Cassidy Turley BT Commercial has brokered the $1.65 million acquisition of an 8-unit apartment building located at 3235 Glendora Drive in San Mateo. The property was 100 percent occupied at the time of sale. Cassidy Turley BT Commercial’s Jocelyn Jamias represented the undisclosed buyer of the two-story building, which consists of six 1-bed/1-bath units and two 2-bed/2-bath units.
NEW YORK CITY — Douglaston Development has opened Ohm, a 34-story rental apartment building located at 312 11th Ave. in the Chelsea neighborhood of Manhattan, New York City. Ohm contains 288 units, with monthly rents starting at $1,850. Amenities include a four-story lobby atrium that will also serve as a performance and multimedia space; a 5,100-square-foot, landscaped sky deck; a two-story gym; and a 3,400-square-foot lounge with an adjacent, 4,400-square-foot outdoor patio. The building also includes 5,000 square feet of ground-floor retail space and two levels of parking. Douglaston is the developer and Stephen B. Jacobs is the project architect.
SOMERSET COUNTY, N.J. — NorthMarq Capital has arranged a total of $7.2 million in Fannie Mae financing for two Somerset County multifamily communities. The two properties contain a total of 137 units. The loans carry a 10-year term and a fixed interest rate. Jim Poole of NorthMarq's New Jersey office secured the funds on behalf of the undisclosed borrower through AmeriSphere Multifamily Finance.
TAMARAC, FLA. — Coral Vista Investors has received $23.19 million in financing for the acquisition of the 300-unit Archstone Gardens apartment complex. The Tamarac property features a swimming pool, a car wash area and a tennis court. Freddie Mac financed the 10-year loan, which carries a fixed interest rate and a 30-year amortization schedule. Charles Foschini, Christian Lee and Christopher Apone of CB Richard Ellis Capital Markets' Miami office secured the loan.
NEW YORK CITY — Massey Knakal Realty Services has completed two New York City sales for a total of $20.92 million. In the first transaction, Massey Knakal's Robert Shapiro and Paul Smadbeck completed the sale of a six-story, 71-unit residential building located at 920 Riverside Drive in Manhattan's Washington Heights neighborhood. The property traded for $15.67 million. In the second deal, Massey Knakal's Nick Petkoff and Michael DeCheser completed the sale of a two-story, approximately 8,400-square-foot office building located at 20 Thomas St. in Manhattan's Tribeca neighborhood. The property traded for $5.25 million. Massey Knakal represented the undisclosed buyers and sellers in both transactions.
NEW YORK CITY — GFI Realty Services has completed the sale of a six-story, 36-unit apartment building located at 329 W. 101st St. in Manhattan, New York City, for $8 million. Shulem Paneth of GFI represented the seller, and Yosef Katz, also of GFI, represented the buyer. Both parties were undisclosed.
HUMBLE, TEXAS — Dominium Development & Acquisition has purchased Humble Memorial Gardens, a 75-unit affordable senior housing property located in Humble. The property was first built in 2005. Dominium's subsidiary Dominium Management Services will manage the facility. The seller's name and the acquisition price were not disclosed.
LUBBOCK, TEXAS — The Dallas office of Holliday Fenoglio Fowler (HFF) has arranged a $9.9 million loan for the refinancing of Sagewood Apartments, a 355-unit multifamily community located in Lubbock. Constructed in 1984 and expanded in 1998, the property is situated at 5917 67th St. Occupancy was 90 percent at the time of closing. The loan, which was procured through Freddie Mac, carries a 10-year term and a 5.79 percent, fixed interest rate. Mona Carlton of HFF arranged the financing through the buyer, McDougal Cos.