NEW YORK CITY — MJH Birchwood has begun renovations of 117 units in the 244-unit The Residences at Jackson Heights in Queens, New York City. The Residences at Jackson Heights are made up of two cooperatives, Birchwood House and Sheila Terrace. The units are being redesigned by Lawrence M. Shapiro and Freyer Collaborative Architects. Studios, one- and two-bedroom units will range in size from 540 square feet to more than 1,100 square feet. Prices range from $170,000 to more than $350,000.
Multifamily
PHILADELPHIA, MORTON, PA., AND MAPLE SHADE, N.J. — Matthew Pauls and Fred Paisley of Marcus & Millichap’s Philadelphia office have completed the $2.15 million sale of Jendora Apartments in Philadelphia. Paisley represented the undisclosed seller and Pauls procured the undisclosed buyer. In Maple Shade, Casey Hansen, also of Marcus & Millichap’s Philadelphia office, has brokered the sale of Southern Cross Apartments. The 22-unit apartment facility was sold for $1.35 million. Hansen procured the undisclosed buyer and represented the undisclosed seller in the transaction. Ken Waller, also of Marcus & Millichap’s Philadelphia office, has completed the $704,000 sale of Hidden View Apartments in Morton. The 13-unit apartment is located at 214 Main St. Waller procured the undisclosed buyer and represented the undisclosed seller in the sale.
PHILADELPHIA, MORTON, PA., AND MAPLE SHADE, N.J. — Matthew Pauls and Fred Paisley of Marcus & Millichap’s Philadelphia office have completed the $2.15 million sale of Jendora Apartments in Philadelphia. Paisley represented the undisclosed seller and Pauls procured the undisclosed buyer. In Maple Shade, Casey Hansen, also of Marcus & Millichap’s Philadelphia office, has brokered the sale of Southern Cross Apartments. The 22-unit apartment facility was sold for $1.35 million. Hansen procured the undisclosed buyer and represented the undisclosed seller in the transaction. Ken Waller, also of Marcus & Millichap’s Philadelphia office, has completed the $704,000 sale of Hidden View Apartments in Morton. The 13-unit apartment is located at 214 Main St. Waller procured the undisclosed buyer and represented the undisclosed seller in the sale.
CHARLOTTE, N.C. — Atlanta-based VP Charlotte LLC has acquired Stonewall Jackson Apartment Homes, a 85-unit, 14-acre multifamily community in Charlotte, from ARC Realty, for $3 million. The complex features 12 one-bedroom, 52 two-bedroom and 21 three-bedroom units. The property is located at 5751 Airport Dr., and was 97 percent occupied at the time of sale. Jim Juhl of Sperry Van Ness’ Cornelius, N.C., office represented the seller, and the buyer was represented by Southern Commercial Real Estate.
ST. LOUIS — Hendricks & Partners (H&P) has brokered the sale of Place de la Concorde, a 50-unit apartment community located at 11542 Concord Village Ave. in St. Louis. Ken Aston of the St. Louis office of H&P represented the seller, Creve Coeur, Mo.-based Concorde Associates, as well as the buyer, St. Louis-based Lorenzo Development. The acquisition price was not disclosed.
ST. LOUIS — Hendricks & Partners (H&P) has brokered the sale of Place de la Concorde, a 50-unit apartment community located at 11542 Concord Village Ave. in St. Louis. Ken Aston of the St. Louis office of H&P represented the seller, Creve Coeur, Mo.-based Concorde Associates, as well as the buyer, St. Louis-based Lorenzo Development. The acquisition price was not disclosed.
PALMYRA, PA. — A joint venture comprised of AMC Delancey Group and Heritage Senior Living has completed construction of Traditions of Hershey, a 120-unit independent senior living community in Palmyra. Located at 100 N. Larkspur Dr., the facility features studios and one- and two-bedroom residences. Rental rates range from $1,800 to $2,700 per month. Amenities include an onsite move theater, a fitness center, a billiard room, a library and a beauty salon.
INDIANAPOLIS — Dwinn-Shaffer & Co. has secured $9.8 million in permanent financing for Pheasant Run Apartments, a 184-unit multifamily community located in Indianapolis. The property comprises 13 two-story buildings in a mix of one-, two- and three-bedroom units. Individual units feature scenic lake views with private balconies or patios. Community amenities include a clubhouse that houses leasing and management offices, a fully equipped kitchen and a community room; a swimming pool with a sundeck and adjacent 24-hour fitness center; a children’s activity center; and a 24-hour laundry facility. The loan was arranged by Marc Fiedler of Dwinn-Shaffer for a 3-year, interest-only term. The borrower and lender were not disclosed.
OAKLAND, CALIF. — BRIDGE Housing Corp. has broken ground for the construction of Ironhouse at Central Station, a 99-unit affordable family apartment community located at 1801 14th St. in Oakland. Situated in the 29-acre Central Station redevelopment site, the property will feature a parking garage, private decks, a community room, classroom space, a landscaped garden area and courtyard. The project will be BRIDGE’s first GreenPoint-rated development, as well as its first to participate in the Bay-Friendly landscaping program. David Baker + Partners are providing architectural services for the project; J.H. Fitzmaurice Inc. is serving as general contractor. Financing for the development is being provided by Redevelopment Agency of the City of Oakland, California Department of Housing & Community Development, Oakland Housing Authority, Federal Home Loan Bank of San Francisco, Union Bank of California NA, US Bancorp Community Development Corp. and Wachovia Mortgage FSB. Completion is slated for November 2009.
OREGON CITY, ORE. — Santa Barbara, Calif.-based Oregon City Apartments LLC has acquired Barclay Square, a 55-unit apartment community located at 290 Warner Milne Rd. in Oregon City. Tualatin, Ore.-based Estate of Paul Oscar Miller sold the property for $3.1 million. Grayson Pounder of Hendricks & Partners’ Portland, Ore., office represented both parties in the transaction.