NEW YORK CITY — New York City-based Massey Knakal Realty Services has negotiated the sale of 650 46th Street, a six-unit residential apartment building located in the Sunset Park neighborhood of Brooklyn, New York City, for $750,000. Adam Hess was the sole broker in the transaction between two undisclosed parties. The property traded at a 5.5 percent capitalization rate.
ESCONDIDO, CALIF. — Conrad Prebys Trust has acquired Park Terrace Apartments in Escondido for $12.4 million. Located at 151 Gayland St., the 117-unit property features 40 one-bedroom/one-bath units, 44 two-bedroom/one-bath units, 32 two-bedroom/two-bath units and one four-bedroom/two-bath unit. Additionally, the community offers two laundry facilities, a pool and spa, and carport parking. The seller was Nordiego Capital Ltd. Kevin Mulhern, Dixie Hall and Rachel Hemingway of CB Richard Ellis represented both parties in the transaction.
KENT, WASH. — KeyBank Real Estate Capital has closed a $7.3 million Fannie Mae loan for The Wilson Apartments in Kent. The borrower was Schneider Homes. Built in 1992, the property features 82 apartment units.
JACKSONVILLE, FLA. — Lamar Sara of NorthMarq Capital’s Jacksonville office has arranged a $5.5 million loan for Pickwick Apartments LTD’s 152-unit Pickwick Apartments in Jacksonville. The 10-year loan comes with a 30-year amortization schedule. AmeriSphere Multifamily Finance provided financing for the loan.
OVERLAND PARK, KAN. — NorthMarq Capital has arranged combined first mortgage financing for two apartment complexes in Overland Park. Greg Duvall of the company’s Kansas City office secured the $22.26 million financing as embedded cap variable rate loans through Freddie Mac’s streamline refinance program. The unnamed borrower has obtained the financing for the 336-unit Claremont Apartments, which was financing at $18.86 million, and the 98-unit Coventry Oaks Apartments, which was financed at $3.4 million.
HARRISBURG AND LEMOYNE, PA. — Woodbridge, N.J.-based The Kislak Company has arranged the sales of two Pennsylvania multifamily properties. In Harrisburg, Kislak arranged the $4.07 million sale of Quail Run Apartments, an 89-unit property located at 4001 Rawleigh St. The property comprises nine buildings, and features a swimming pool, a basketball court, a children’s play area and a volleyball court. Occupancy was 95 percent at the time of closing. Kislak’s Robert Holland represented the seller, MBM Associates, as well as the buyer, Quail Run Limited Partnership. In Lemoyne, Kislak brokered the $1.4 million sale of Walnut Hills Apartments, a 26-unit residential community located on Walnut Street. The property was fully occupied at the time of closing. Christopher Cimino of Kislak represented the seller, Shirmor Co., as well as the buyer, LMB Investments.
ARTESIA, CALIF. — David Yeh and Jonathan Mitchell of Marcus & Millichap represented the undisclosed buyer and seller in the acquisition and disposition of East Park Apartments. The 29-unit apartment property sold for $3.8 million. The property is located at 11562 186th St. in Artesia.
NORTH SCOTTSDALE, ARIZ. — La Privada at Scottsdale Ranch, a 350-unit multifamily property, has traded hands for $32 million. Located at 10255 E. Via Linda in North Scottsdale, the property was acquired by an affiliate of ConAm Group of San Diego. The seller was Scottsdale, Ariz.-based 10255 East Via Linda LLC. The property features two swimming pools, a spa, a picnic and barbeque area, tennis courts, putting greens, a clubhouse, a fitness center and a business center. At the time of acquisition, the community was 93 percent occupied. Tyler Anderson and Sean Cunningham of CB Richard Ellis’ Phoenix office represented the seller in the transaction. Rocco Mandala of CBRE|Melody arranged financing for the acquisition.
DENVER — Alliance Residential Company has opened Broadstone Vesta, a 212-unit apartment community located at 3310 S. Kenton St. in Denver. The community features one-, two- and three-bedroom apartments, a resort-style pool with tanning shelf and spa, a multimedia athletic club with free weights and extensive cardio equipment, a clubhouse with a gourmet kitchen and WiFi Internet access, a social lounge with plasma television and coffee bar, and an outdoor patio with BBQ grill and picnic tables.
HAVERTON AND MALVERN, PA. — The Downtown Chicago and Philadelphia offices of Marcus & Millichap has brokered the sale of two nursing centers located in Haverton and Malvern for $12 million. The properties include Haverford Nursing & Rehabilitation Center and Main Line Nursing & Rehabilitation Center. They total 190 beds. Jacob Gehl and Mark Myers of Marcus & Millichap represented the seller and the buyer, both of which were undisclosed limited liability companies.