BELLEVUE, WASH. — Seattle-based Northwest Townhomes LLC has purchased Caribbean Apartments, a 20-unit apartment community located at 312 101st Ave. in Bellevue’s Meydenbauer neighborhood. Seattle-based Caribbean Alliance Investments sold the property for $5.3 million. The buyer plans to redevelop the 35,148-square-foot lot into 24 townhome units. Josh Blake of Hendricks & Partners’ Seattle office brokered the transaction.
Multifamily
CHARLOTTE, N.C. — Newton, Mass.-based Northland Investment Corp. has purchased River Birch Phase II Apartments, a 184-unit, 25-acre complex in Charlotte, from St.Louis-based The Michelson Organization, for an undisclosed amount. Community amenities include a resort-style swimming pool, volleyball court, business center and 24-hour fitness facility. Blake Okland of Apartment Realty Advisors’ Charlotte office was the sole broker in the transaction.
GREENVILLE AND ROCK HILL, S.C. — Charlotte, N.C.-based Carolina Holdco has purchased two apartment communities, Grandeagle and Stones Crossing, in Greenville and Rock Hill, for a total of $10.5 million. Atlanta-based Churchill East sold Grandeagle Apartments in Greenville to Carolina Holdco, for $3.8 million. The multifamily community features 152 garden-style multifamily units. Carolina Holdco acquired Stones Crossing in Rock Hill, a 160-unit, 14-acre garden-style complex, from Stones Crossing LP, an affiliate of Nashville, Tenn.-based Carter-Haston Real Estate, for $6.7 million. Jordan McCarley of Southeast Apartment Partners’ Charlotte office was the sole broker in both transactions.
NEW YORK CITY — SJP Residential Properties is constructing Platinum, a 220-unit condominium building situated on Eighth Avenue and 46th St. in Manhattan, New York City. Designed by Costas Kondylis, the multifamily property features a unique lobby with a floating island of granite surrounded by a moat of moving water, as well as a 26-foot long fireplace and a video art wall of 15 plasma screens. The building, which is currently more than 70 percent sold, is set for occupancy this summer.
NEW YORK CITY — Developer Leviev Fulton Club is currently converting a 10-story office building into a 163-unit condominium building, District. Located at 111 Fulton St. in Manhattan, New York City, the building features residences ranging from one-bedroom units to 2,200-square-foot penthouses. Prices for the District’s units range from $515,000 to $3.4 million. Leviev Fulton Club is developing the multifamily project in a partnership with Rotem Rosen of Africa Israel Properties & Development USA and Joseph Klaynberg of Wonder Works Construction.
BELLEVUE, WASH. — Seattle-based Security Properties Inc. has acquired Highcroft I & Highcroft II, a 194-unit apartment community located at 1501 145th Pl. SE and 14000 and 14020 SE 13th Pl. in Bellevue, Wash. An undisclosed seller sold the property for $28.75 million. Kenny Dundunakis of Hendricks & Partners’ Seattle office brokered the transaction.
JACKSONVILLE, FLA. — Milwaukee, Wis.-based Northwestern Mutual has completed the $8.5 million renovation of Villas of St. John, a 257-unit, four-story apartment complex in Jacksonville. The property is located on the St. John’s River, at the intersection of Riverside Avenue and Margaret Street. Orlando, Fla.-based Leffler & Heaney was the general contractor.
CARY AND GRAYSLAKE, ILL. — The Lake Bluff, Ill., office of Inland Real Estate Sales has arranged the sale of two Illinois apartment communities for $11.1 million. In Cary, the company sold Oak Knoll Apartments, a four-building, 97-unit community located at 100 Sunset Dr., for $6.2 million. The community comprises 57 one-bedroom, 35 two-bedroom, four three-bedroom and one studio unit. Amenities include individual balconies or patios and an outdoor pool. Richard Kehoe and John Hanson of Inland represented the undisclosed seller; the buyer was also undisclosed. In Grayslake, Kehoe and Hanson represented both undisclosed parties in the $4.9 million sale of Grayslake Apartments, located at 325 Neville Dr. The property contains 70 one-bedroom units that each measure 650 square feet.
EUGENE, ORE. — Hendricks & Partners has brokered the $3.6 million sale of Bailey Hill Meadows in Eugene. Denver-based Bailey Hill Meadows LLC sold the property to Portland, Ore.-based Los Arcos Associates LP. The 70-unit apartment community is located at 1515 Bailey Hill Rd. Phil Oester of Hendricks & Partners’ Portland office represented the seller in the transaction.
CARY AND RALEIGH, N.C. — Blake Okland and Dean Smith of Apartment Realty Advisors’ Charlotte office negotiated the sale of a $61 million, 638-unit multifamily portfolio in Cary and Raleigh on behalf of the seller, an affiliate of Grand Prairie, Texas-based Fairfield Residential. The buyer was an affiliate of Julian LeCraw & Co. Cornerstone is a 302-unit complex featuring one-, two- and three-bedroom apartment homes, averaging 969 square feet. Amenities include a resort-style swimming pool, business center and fitness center with sauna. North Park is a 336-unit community comprised of one- and two-bedroom apartment homes, averaging 900 square feet. The property includes a cinema room, indoor racquetball court, resort-style swimming pool and fitness facilities.