HOUSTON — Arbor Commercial Funding (Arbor) has arranged $50.1 million in acquisition financing for Broadway Square Apartments located at 8601 Broadway St. in Houston. The loan was arranged on behalf of the buyer, Post Investment Group, which purchased the property from a private developer. Broadway Square Apartments is a 2,469-unit complex built on 69 acres. The 5-year loan, which is on a 30-year amortization schedule, was originated by Alex Kaushansky of Arbor’s New York City office. The loan was arranged through Fannie Mae DUS.
IRVINE, CALIF. — BRIDGE Housing Corp. has completed Woodbury Walk, a 150-unit apartment community located at 99 Talisman in Irvine. Situated within the Woodbury master-planned development, Woodbury Walk features 30 one-bedroom, 74 two-bedroom and 46 three-bedroom units. Additionally, the community features outdoor play space for children and a community/classroom space for all residents. KTGY Group Inc. provided architectural services, while Wermers Multifamily Corp. served as general contractor for the project. Financing for the project was provided by City of Irvine, County of Orange HCS, MMA Financial, Wells Fargo Bank and the California Community Reinvestment Corp.
IRVINE, CALIF. — BRIDGE Housing Corp. has completed Woodbury Walk, a 150-unit apartment community located at 99 Talisman in Irvine. Situated within the Woodbury master-planned development, Woodbury Walk features 30 one-bedroom, 74 two-bedroom and 46 three-bedroom units. Additionally, the community features outdoor play space for children and a community/classroom space for all residents. KTGY Group Inc. provided architectural services, while Wermers Multifamily Corp. served as general contractor for the project. Financing for the project was provided by City of Irvine, County of Orange HCS, MMA Financial, Wells Fargo Bank and the California Community Reinvestment Corp.
LAS VEGAS — The Siegel Group Nevada Inc., a commercial real estate and business development company, has acquired Mark Twain Apartments, a 228-unit apartment complex in Las Vegas. The company purchased the property from an undisclosed seller for $14.5 million. SASCO Properties, a division of The Siegel Group Nevada Inc., will assume operational control of the property and rename the community Siegel Suites Twain II. The company also plans to convert the property into its flexible-stay program, which offers residential accommodations to tenants seeking short- or long-term lease agreements.
HIALEAH, FLA. L & D Investors has acquired two multifamily complexes, Nina s Apartments and Queens Apartments in Hialeah, from Samuel and Nina Levy, for $6 million. Nina s Apartments, a 36-unit complex located at 1288 W. 29th St., sold for $3.1 million. The building features one- and two-bedroom apartment homes. Queens Apartments, a 34-unit community located at 1271 W. 29th St., sold for $2.9 million. Evan Kristol and Still Hunter of Marcus & Millichap s Fort Lauderdale, Fla., office represented the sellers.
YARMOUTH, MAINE — Potomac Realty Capital has structured and closed $32 million in acquisition financing for two multifamily properties in Yarmouth. Located just 2 miles apart in Portland’s MSA, the rental properties total 363 units. The borrower, a New England-based real estate investment firm, plans to implement a $3.1 million capital improvement plan. The loan was structured as a Fannie Mae first mortgage and a preferred equity loan.
YARMOUTH, MAINE — Potomac Realty Capital has structured and closed $32 million in acquisition financing for two multifamily properties in Yarmouth. Located just 2 miles apart in Portland’s MSA, the rental properties total 363 units. The borrower, a New England-based real estate investment firm, plans to implement a $3.1 million capital improvement plan. The loan was structured as a Fannie Mae first mortgage and a preferred equity loan.
DALLAS, HOUSTON, SAN ANTONIO AND FORT WORTH, TEXAS — Capmark Finance has originated approximately $185 million in fixed-rate, permanent financing for the acquisition of the Internacional Portfolio. Triden Sunbelt Portfolio LLC acquired the 10-property multifamily portfolio. The garden-style properties are located in and around Dallas, Forth Worth, San Antonio and Houston. The Internacional Portfolio properties total 3,041 units and approximately 2.68 million square feet, and were 93.5 percent occupied at the time of sale. Mike Bryant of Capmark Finance’s Dallas office originated the loan through Capmark’s Freddie Mac program.
HOUSTON — Marcus & Millichap has completed the sale of Oakland Plaza Apartments, a multifamily property located at 221 Caylor St. in Houston. The 17,345-square-foot, 36-unit apartment complex was built in 1959 and is situated on .6 acres. Robert Su of Marcus & Millichap’s Houston office represented the seller, a Texas-based partnership, in the transaction. The buyer was a private, Houston-based investor.
HENDERSON AND LAS VEGAS, NEV. — Spence Ballif and Jeff Swinger of CB Richard Ellis’ (CBRE) Las Vegas office have brokered the sales of two apartment communities in the Las Vegas area. The team represented Empire Investments in the disposition of Copper Hills at Whitney Ranch, a 272-unit community located at 981 Whitney Ranch Dr. in Henderson. Artisan acquired the property for $32.9 million. Additionally, Ballif and Swinger represented Terra Holdings in the sale of Rancho Destino Apartments, a 184-unit complex located on Durango Drive in Las Vegas. Boston-based Colony Realty Partners purchased the property for $24.47 million.