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LEWISVILLE, TEXAS — Wrightwood Capital has provided $21.65 million in financing for the acquisition of Mira Vista Ranch apartments located at 350 Continental Dr. in Lewisville. The 304-unit property, built in 2004 and originally named Villas of Highpoints Apartments, comprises 11 buildings on 13 acres. Amenities include a swimming pool, hot tub, recreation room and business center. Anthony Waiss, a Texas-based multifamily property owner and manager, plans to renovate Mira Vista Ranch. The financing was sourced through Paul Brighton of NorthMarq Capital.
MADISON, ALA. — Jason Nettles and Megan Thompson of Holliday Fenoglio Fowler’s Atlanta office negotiated the sale of Arbors of Madison, a 204-unit multifamily community, on behalf of Alexander Properties Group. An undisclosed buyer from the metropolitan N.Y. area purchased the 17.2-acre site at 7900 Old Madison Pike for $10 million. The property has two-bedroom, three-bedroom and four-bedroom units. Amenities include a swimming pool, clubhouse, sports court and playground.
HOFFMAN ESTATES, ILL. — The Chicago office of Hendricks & Partners has completed the sale of Park Place, a 642-unit multifamily community located at 845-875 Pacific Ave. in Hoffman Estates, for $66 million. The community is situated on 64 acres and comprises 33 three-story buildings. Community amenities include a lap and leisure pool, a Jacuzzi, a sundeck, laundry facilities, a tennis court and a clubhouse. Ralph dePasquale and Bill Montana of Hendricks represented the seller, Barrington, Ill.-based Park Place Apartments LLC, as well as the buyer, Boston-based BVF II Park Place.
PHILADELPHIA — BPG properties has acquired the assets of Boston Capital Real Estate Investment Trust for $13.30 per share. As part of the acquisition, BPG has also acquired an 11-property multifamily portfolio totaling 3,098 units. The deal is estimated to be a $260 million value. The purchase was made by BPG Investment Partnership VIII VIIIA.
WILMINGTON, DEL. — Mark Thomson, Tom Gorman and Matt Gorman of Marcus & Millichap have completed the $11.2 million sale of Scarborough Park Apartments in Wilmington. The 156-unit apartment community is located at 131 Scarborough Park Dr. and features 129,626-square-feet on 8.88 acres. Tom and Matt Gorman represented the buyer, Trinity Capital, and Thomson represented the seller, Frank Acierno.
NEW YORK CITY — Shulem Paneth of GFI Realty Services has completed the $7.5 million sale of two residential buildings in the Flatbush neighborhood of Brooklyn, New York City. Located at 1532 Ocean Ave. and 1609 Ocean Ave., the two four-story buildings comprise 74 units in total and a combined 85,000 square feet. The buyer and seller were undisclosed.
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CHICAGO — Chicago-based Ascendance Partners has acquired a three-story, 15,024-square-foot apartment building located at 4014-4016 South King Dr. in the Grand Boulevard neighborhood of Chicago’s South Side. The company plans to implement a $1 million capital improvements program to renovate the currently vacant building. Ascendance will convert the building’s 17 units into eight 1,800-square-foot units. The units will include amenities such as hardwood floors, stainless steel appliances, washers and dryers, granite countertops and audio system wiring. The acquisition price was undisclosed.
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