GENEVA, ILL. — Chicago-based Dwinn-Shaffer & Co. has secured $16.3 million in permanent financing for Brittany Court Apartments, a 226-unit multifamily community located in Geneva. Situated on 15.58 acres, the property comprises 29 two-story buildings with a mix of one- and two-bedroom units. Amenities include a pool, a clubhouse and a maintenance garage. The loan carries a 10-year term, with 5 years interest only, and was arranged for the undisclosed borrower by Bill Etherton of Dwinn-Shaffer & Co.
Multifamily
HARRISBURG, PA. — Robert Holland of The Kislak Company has completed the $9.3 million sale of Twelve Trees Apartments in Harrisburg. The 163-unit complex features three two-story apartment facilities that include 60 units and six two-story buildings that contain 76 townhome residences. At the time of the sale, the facility was 95 percent occupied. Holland represented the seller, Paxton Hills Associates, and the buyer, LCL Equities. Sovereign Bank provided funding for the disposition.
HARRISBURG, PA. — Robert Holland of The Kislak Company has completed the $9.3 million sale of Twelve Trees Apartments in Harrisburg. The 163-unit complex features three two-story apartment facilities that include 60 units and six two-story buildings that contain 76 townhome residences. At the time of the sale, the facility was 95 percent occupied. Holland represented the seller, Paxton Hills Associates, and the buyer, LCL Equities. Sovereign Bank provided funding for the disposition.
LANCASTER, PA. — KeyBank Real Estate Capital has closed a $200 million Fannie Mae structured credit facility for Campus Apartments. Upon closing, Campus Apartments used $26.43 million of the credit facility to pay off the construction financing for College Row, a 393-bed property located at Franklin & Marshall College in Lancaster. Over a 3-year period, Campus Apartments plans to acquire and develop $1 billion in student apartments. Gregg Wallace of AMA Financial facilitated the transaction.
LANCASTER, PA. — KeyBank Real Estate Capital has closed a $200 million Fannie Mae structured credit facility for Campus Apartments. Upon closing, Campus Apartments used $26.43 million of the credit facility to purchase College Row, a 393-bed property located at Franklin & Marshall College in Lancaster. Over a 3-year period, Campus Apartments plans to acquire and develop $1 billion in student apartments. Gregg Wallace of AMA Financial facilitated the transaction.
YORK, PA. — Bulls Capital Partners has provided $7.5 million in refinancing for Stonewood Village Townhomes in York. The multifamily facility comprises 144 apartment units situated within 18 townhouse style buildings. Mark Van Kirk of Bulls Capital and Steve Arnold of Columbia National Real Estate originated the loan on behalf of the borrower, Victory Realty Group. Funding was provided by Fannie Mae.
YORK, PA. — Bulls Capital Partners has provided $7.5 million in refinancing for Stonewood Village Townhomes in York. The multifamily facility comprises 144 apartment units situated within 18 townhouse style buildings. Mark Van Kirk of Bulls Capital and Steve Arnold of Columbia National Real Estate originated the loan on behalf of the borrower, Victory Realty Group. Funding was provided by Fannie Mae.
CLIFTON, N.J. — Dean Marchi and Charles Berger of CB Richard Ellis have completed the $3.49 million sale of 137-141 Center St., a 36-unit apartment complex in Clifton. The complex was 100 percent occupied at the time of the sale. The buyer and seller were undisclosed. The buyer purchased the property as part of a 1031 exchange.
HOUSTON — M.J. Spoor & Co. has arranged approximately $5.4 million in financing for the acquisition of Stoneriver Apartments located at 8901 Bissonnet St. in Houston. The 324-unit multifamily property includes amenities such as an access gate, covered parking, a pool area, laundry facilities and a tennis court. Both the buyer and seller of the Class C apartment property were undisclosed.
ST. LOUIS — St. Louis-based Paric Corp. has been selected to provide general contracting services for a $7.8 million senior housing development located on South Grand Boulevard in St. Louis. The three-story, 76,000-square-foot project will comprise 87 apartments, as well as ground-floor retail space. Community amenities will include a computer center, a multi-purpose room, a dining hall, an exercise room and a courtyard. The project is being developed by The Pyramid Companies.