HILTON AND PENFIELD, N.Y. — NorthMarq Capital has arranged $14.9 million in financing for two multifamily properties in Upstate New York. The Hilton Village Apartments in Hilton features 234 units, and the White Oaks Apartment complex in Penfield contains 72 units. Sam Berns of NorthMarq arranged the financing on a 10-year term with an aspect of interest only followed by a 30-year amortization schedule. The loan was placed for the undisclosed borrower through AmeriSphere Multifamily Finance, a wholly owned subsidiary of NorthMarq Capital that specializes in Fannie Mae DUS lending.
WINTER HAVEN, FLA. — Philadelphia-based Mills Development Co. is building a $10 million, 181-unit independent living retirement community in Winter Haven, located at the intersection of Cypress Gardens Boulevard and Ninth Street S.E. Cuhaci & Peterson is the project architect. Construction is slated to begin later this year.
FORT PIERCE, FLA. — Dale and Roni Zaletel of Birmingham, Ala.-based Senior Management Solutions have acquired Broadmoor Assisted Living, a 32-unit, 55-bed assisted living and Alzheimer’s community in Fort Pierce, from Christopher Lundstrom of Perfect Healthcare, for $3 million. Krone Weidler of Marcus & Millichap’s Tampa, Fla., office represented both parties in the transaction.
HUNTSVILLE, ALA. — An undisclosed buyer has purchased Mill Stream Apartment complex, a 5-acre, 80-unit property located at 3000 Ivy St. in Huntsville, from Mill Stream LLC, for $2 million. John Landrum of Huntsville-based Coldwell Banker Commercial McLain Real Estate represented the seller, and the buyer was represented by Annie Rapiere of Keller Williams Realty’s Huntsville office.
INDIANAPOLIS — CB Richard Ellis (CBRE) has arranged the sale of Riverchase Apartments, a 216-unit apartment community located at 2730 Riverchase Dr. in Indianapolis. Steve LaMotte and Amy Burmeister of CBRE’s Multi-Housing Group represented the seller, JC Hart. The property was acquired by Colorado-based Continental Realty Advisors, and represented the company’s first acquisition in the Indianapolis market.
ROCKFORD, ILL. — Northbrook, Ill.-based Essex Realty Group has brokered the sale of Crestview Manor, a 53-unit garden apartment community located in Rockford, for $2.23 million. The three-building property consists of 19 one-bedroom and 34 two-bedroom units. Jim Barcelona and Chad Frahm of Essex represented the seller, and Jim Darrow, also of Essex, represented the buyer. Both parties were undisclosed.
SCARBOROUGH AND PORTLAND, MAINE — Equity Residential has sold the Casco Bay Portfolio for $35 million to affiliates of the Philadelphia-based Resource Real Estate. The portfolio consists of Coach Lantern, a 90-unit townhouse community in the Prouts Neck area of Scarborough; Foxcroft, a 104-unit townhouse apartment community in Scarborough; and Tamarlane, 115-unit apartment community in the Back Cove district in Portland. Robert Griffin, Jr., Simon Butler and Biria St. John of Cushman & Wakefield represented the seller and procured the buyer in the disposition.
NEW YORK CITY — Zachary Felson of Marcus & Millichap has brokered the $5.3 million sale of a portfolio of five multifamily buildings in the Bedford-Stuyvesant area of Brooklyn, New York City. The portfolio contains a total of 62 units and comprises 257 Quincy St., 308 Stuyvesant Ave., 570 Jefferson Ave., 788 Madison St., and 790 Madison St. Felson represented the undisclosed seller and procured the undisclosed buyer in the transaction.
WESTLAKE VILLAGE, CALIF. — IMT REIT Capital LLC has purchased Townhomes at Westlake Village, which is located at 601 Hampshire Rd. in Westlake Village. Wilshire Equities sold the 253-unit property for $68.5 million. The buyer plans to invest $3 million in upgrades to the 37-year-old community. Dean Zander of Hendricks & Partners’ Los Angeles office represented both parties in the transaction.
WASHINGTON, D.C. — The development partnership of Canyon-Johnson Urban Funds and Donatellis Development has secured a $53 million construction loan for Park Place, a seven-story, 161-unit multifamily and townhome community in the Columbia Heights/Petworth suburb of Washington, D.C., from Citi Community Capital. The development will feature units averaging 860 square feet with one or two bedrooms and 16,000 square feet of community-serving retail. The project will be located directly above the Georgia Avenue/Petworth Metro Station. The general contractor is S.E. Foster, a subsidiary of The Paradigm Companies, and the architect is Torti Gallas and Partners. Construction is slated for completion next July.