HOUSTON — Hendricks & Partners has finalized the sale of Winkler Villa, a multifamily property located at 123 Winkler Dr. in Houston. Cal State Investment LP/Bluestone Apartments LLC purchased the 135-unit property from Winkler Ltd. for an undisclosed amount. Jeff Eisenhardt of Hendricks & Partners’ Houston office represented the seller in the transaction.
FALLS CHURCH, VA. Waterford Development has opened Spectrum, a 283,726-square-foot, 189-unit condominium complex in Falls Church, located along Route 7. The project consists of 220,000 square feet of residential space, 31,726 square feet of ground level retail and 32,000 square feet of office space. The seven-story building is comprised of one- and two-bedroom residences, two-story lofts and penthouses. The property features a clubroom, private dining/conference room, business center and movie theater. Tenants include Not Your Average Joe s restaurant and For Eyes, an optical provider. Construction began in winter 2005.
NANTUCKET, MASS. — Ted Sidel and Brian Sheehan of EagleBridge Capital have arranged $40.6 million in financing for the construction of the Residences at Point Breeze in Nantucket. The luxury condominium hotel will feature a mix of 32 one- and two-bedroom residences and six cottages with floor plans up to 2,176 square feet. The borrower was undisclosed.
NEW YORK CITY — SSJ Development has broken ground on a multifamily waterfront development in the Sheepshead Bay area of Brooklyn, New York City. The Riviera Suites at Sheepshead Bay, located at 2433 Knapp St., will feature 18 loft-style one- and two-bedroom units. The facility is set to feature a waterfront promenade, green building materials and 24-hour security. Designed by Gregory Ginert, construction is slated for completion in 12 months.
AUSTIN AND LUBBOCK, TEXAS — Apartment Realty Advisors (ARA) has completed a trio of sales for multifamily properties located in Austin and Lubbock. Ridgeview Apartments, which is located at 8600 Brodie Ln. in Austin, is a 167-unit property situated within 18 buildings. Meridian Park and Willow Hill, both located in Lubbock, comprise 639 units total and are part of a larger portfolio. Patton Jones, Jerry Lamm and David Mitchell of ARA represented the seller, Camden Property Trust, in the Ridgeview Apartments transaction. Brian O’Boyle, Jordan Cortez and Mike Girard of ARA’s Dallas office represented both parties in the Meridian Park and Willow Hill transaction.
GROTON, CONN. — Mill Management has acquired Groton Townhouse Apartments and Phoenix Apartments in Groton for $17.62 million from an undisclosed seller. Groton Townhouse Apartments consists of 141 one, two- and three-bedroom residences situated within a 29-building townhouse community, and Phoenix Apartments contains 96 one-bedroom units set within three buildings. Cushman & Wakefield Sonnenblick Goldman arranged the transaction on behalf of the seller.
CLUTE, TEXAS — Hendricks & Partners has finalized the sale of Ashton Oaks, a 436-unit multifamily property located at 201 Hackberry St. in Clute. Palm Harbor, Fla.-based Quall Ridge Apartments LP acquired the property from Houston-based The Bank of New York Trust Co. for an undisclosed amount. Mike Miller of the San Antonio office of Hendricks & Partners and Chip Nash of the company’s Houston office represented the seller in the transaction.
MARIETTA, GA. — Stamford, Conn.-based Ceebraid-Signal has purchased Rivers Apartment Communities, a 708-unit multifamily complex consisting of three enclaves in Marietta, from Houston-based Greystar Management and Norwalk, Conn.-based General Electric Capital, for $72 million. The Preserve Apartment Homes, The Pointe Apartment Homes and The Park Apartment Homes are situated on contiguous lots, totaling 77 acres, adjacent to the Chattahoochee River along Powers Ferry Road. The garden-style communities feature swimming pools, fitness facilities and tennis courts. Ceebraid-Signal will renovate the properties to include a movie theater, rock climbing wall and indoor basketball court, among other improvements. Apartment Realty Advisors of Atlanta represented the seller in the transaction.
RALEIGH, N.C. — Grubb & Ellis Realty Investors has acquired Six Forks Station, a 32-acre, 321-unit multifamily complex in Raleigh, on behalf of tenant-in-common investors, for an undisclosed amount. The property consists of 39 buildings that feature 88 one-bedroom, 161 two-bedroom and 72 three-bedroom apartment homes. Amenities include two swimming pools, playgrounds, multi-purpose sports courts and a fitness center. The complex is located at 8601 Olde Station Dr.
ROCHESTER, MINN. — Minneapolis-based Timberland Partners has acquired Brandywine Apartments, a 119-unit multifamily community located in Rochester. Property amenities include a playground and a basketball court. Timberland Partners is planning to complete $500,000 in capital improvements to the property, including roof replacement where necessary, exterior siding repair and the installation of washers and dryers in individual units. The seller, as well as the acquisition price, was undisclosed.