Property Type

Marcus & Millichap Brokers $15.3M Sale of Apartment Complex in Toledo, Ohio

by Christina Cannon January 13, 2016

TOLEDO, OHIO — Marcus & Millichap has brokered the sale of a 200-unit apartment community for $15.3 million. Quail Hollow at the Lake is located in Toledo. Quail Hollow was built in 1999 and features a combination of one-, two- and three-bedroom units. Units include a private entrance, 9-foot ceilings, fully furnished kitchens, walk-in closets, washers and dryers and a private balcony or patio. Community amenities include a clubhouse with fitness center, outdoor pool with sundeck and Jacuzzi, a playground and a dog park. Michael Barron, Daniel Burkons and Joshua Wintermute of Marcus & Millichap listed the property on behalf of the seller and procured the buyer.

January 13, 2016

Indiana Midwest Multifamily

Resource Commercial Real Estate Arranges Sale of 142-Unit Apartment Property in Greenfield, Indiana

by Christina Cannon January 13, 2016

GREENFIELD, IND. — Resource Commercial Real Estate has arranged the sale of a 142-unit apartment property in Greenfield, approximately 25 miles east of Indianapolis, for an undisclosed price. Broadway Village Apartments was built in three phases with the last phase commencing in 2001. The community is comprised of one-, two- and three-bedroom units. Unit amenities include attached garages, vaulted ceilings, full-size washers and dryers and full-size appliances. The buyer was Broadway Village Apartment Partners LLC, and the seller was Fource LLC. Michael Wernke of Resource Commercial Real Estate brokered the transaction.

January 13, 2016

Industrial New Jersey Northeast

Advance Realty, F. Greek Development Open Refrigerated Storage Facility in New Jersey

by Amy Works January 13, 2016

WOODBRIDGE, N.J. — A joint venture partnership between Advance Realty and F. Greek Development has opened a refrigerated storage and distribution center in Woodbridge. The 190,000-square-foot facility is situated on 9.3 acres at 275 Blair Road. Preferred Freezer Services, a worldwide operator of temperature-controlled warehouses, has leased the built-to-suit facility. The property maintains temperatures between 0 and -5 degrees Fahrenheit, and features a 65-foot high warehouse ceiling and a 35-foot high dock ceiling. The building has a total storage capacity of 10 million cubic feet and can hold 40 million pounds of computer-managed inventory on 27,363 pallets.

January 13, 2016

Multifamily New York Northeast

Ariel Property Advisors Arranges $11.2M Sale of Upper East Side Development Site

by Amy Works January 13, 2016

NEW YORK CITY — Ariel Property Advisors has brokered the sale of a development property located at 515 E. 86th St. in the Upper East Side. The 22-foot wide development site, which is part of an assemblage, sold for $11.2 million. The property has approximately 22,150 buildable square feet as of right for a rental or condominium development. A four-story, 6,060-square-foot vacant building currently sits on the lot. Victor Sozio, Howard Raber, Shimon Shkury, Randy Modell and Jesse Deutch of Ariel Property Advisors represented the seller, a private investor, and procured the buyer, a private investor, in the transaction.

January 13, 2016

Multifamily New York Northeast

The Brodsky Organization Launches Leasing at Enclave at the Cathedral in Manhattan

by Amy Works January 13, 2016

NEW YORK CITY — The Brodsky Organization has opened Enclave at the Cathedral, located at 400 W. 113th St. in Manhattan’s Morningside Heights, for leasing. Situated on the ground of The Cathedral of Saint John the Divine, the two-tower property features 430 residences in a mix of studio, one- and two-bedroom with rents ranging from $2,400 per month to $4,720 per month. On-site amenities include an indoor art gallery, game room, screening room, a café, fitness center, parking garage, two roof decks and landscaped terrace with outdoor television. The property was designed by Handel Architects.

January 13, 2016

Multifamily New Jersey Northeast

Redwood Realty Advisors Brokers $6.7M Sale of Apartment Building in New Jersey

by Amy Works January 13, 2016

BOGOTA, N.J. — Redwood Realty Advisors has arranged the sale of an apartment building located in Bogota. Landmark Development Co. sold the property to Real Estate Growth Advisors for $6.7 million. Built in 1962, the garden-style property features 48 apartment units. Michael Scrima, Matthew Sandelands, Kevin McCrann and Thomas McConnell of Redwood Realty Advisors brokered the transaction.

January 13, 2016

Mixed-Use Multifamily New York Northeast Retail

Besen & Associates Arranges $5.1M Sale of Mixed-Use Property in Brooklyn

by Amy Works January 13, 2016

NEW YORK CITY — Besen & Associates has brokered the sale of a mixed-use property located at 957 Utica Ave. in Brooklyn’s East Flatbush neighborhood. A private investor acquired the property for $5.1 million. Built in 2007, the three-story property features 18 apartment units in a mix of studio, one-, two- and three-bedroom units; 6,000 square feet of retail spaces; and a 26-space gated parking lot. The property features a 421-A tax exemption in place, which expires in June 2023. Greg Corbin and Miguel Jauregui of Besen & Associates, along with former Besen broker Jacob Aronov, represented the seller and procured the buyer in the transaction.

January 13, 2016

California Loans Multifamily Western

NorthMarq Arranges $22.1M Refinancing for Apartment Complex in Los Angeles

by Nellie Day January 12, 2016

LOS ANGELES — NorthMarq Capital has arranged a $22.1 million refinancing for The Meadows, a 690-unit apartment complex in the Los Angeles submarket of Culver City. The community is located at 6100-6500 Green Valley Circle. The loan features a 10-year term with three years of interest-only payments followed by a 30-year amortization schedule. Jeffrey Weidell, Nathan Prouty and Andrew Slaton of NorthMarq Capital’s San Francisco office arranged the financing through the firm’s correspondent relationship with a life insurance company.

January 12, 2016

California Multifamily Western

Private Investor Buys 53-Unit Apartment Building in Monrovia for $12.2M

by Nellie Day January 12, 2016

MONROVIA, CALIF. — A private investor has purchased a 53-unit apartment building in Monrovia for $12.2 million. The community is located at 1219 S. Alta Vista Ave. It was built in 1971. Warren Berzack and Stephen Geiger of Berzack Investment Property Advisors Group of Lee & Associates-LA North/Ventura represented both the buyer and seller, another private investor, in the transaction.

January 12, 2016

Industrial Oregon Western

Keystone Automotive Industries Leases 230,000 SF in Portland

by Nellie Day January 12, 2016

PORTLAND, ORE. — Keystone Automotive Industries has leased 230,000 square feet at Interstate Crossroads Distribution Center in Portland. The space is located at NE 166th Avenue and NE Cameron Boulevard. The owner, Interstate Crossroads LLP, is a joint venture between real estate finance and investment management firm PCCP LLC and project developer Specht Development. David Ellis and Don Ossey of Capacity Commercial Group/CORFAC International represented the joint venture in the deal.

January 12, 2016

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