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.
Multifamily
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.
DENVER — California-based City Square Denver has purchased Southgate Apartments in Denver. Located at 2330 S. Kearney St., the 130-unit property sold for $7 million. Jon Hendrickson of Marcus & Millichap’s Denver office represented the seller, Colorado-based S-G Apartments LLC, in the transaction.
PLYMOUTH, MINN. — Minneapolis-based NorthMarq Capital has arranged $6.6 million in first-mortgage financing for Fernbrook Townhomes, a 72-unit multifamily community located in Plymouth. The loan was based on a 10-year term with a 30-year amortization schedule. Michael Padilla of NorthMarq arranged the financing on behalf of the borrower, At Home Apartments, through Freddie Mac.
PLYMOUTH, MINN. — Minneapolis-based NorthMarq Capital has arranged $6.6 million in first-mortgage financing for Fernbrook Townhomes, a 72-unit multifamily community located in Plymouth. The loan was based on a 10-year term with a 30-year amortization schedule. Michael Padilla of NorthMarq arranged the financing on behalf of the borrower, At Home Apartments, through Freddie Mac.
NEW YORK CITY — GFI Realty Services has completed the $25.5 million sale of 201 Linden Blvd. and 221 Linden Blvd. in Brooklyn, New York City. The two six-story buildings contain a total of 352,540 square feet and approximately 300 units. The units range from two-, three- and four-bedrooms. Erik Yankelovich of GFI represented the buyer, an undisclosed New York-based investor. The seller was undisclosed.
NEW YORK CITY — GFI Realty Services has completed the $25.5 million sale of 201 Linden Blvd. and 221 Linden Blvd. in Brooklyn, New York City. The two six-story buildings contain a total of 352,540 square feet and approximately 300 units. The units range from two-, three- and four-bedrooms. Erik Yankelovich of GFI represented the buyer, an undisclosed New York-based investor. The seller was undisclosed.