ENGLEWOOD, COLO. – The 88-unit Lincoln Pointe Lofts II in Englewood has received a $6-million refinance. The community is located at 9781-9783 Pyramid Court. The loan features a 10-year term and a 9.5-year yield maintenance. It was arranged for Lincoln Pointe Lofts TWO LLLP by Dougherty Mortgage LLC’s Denver office.
MILPITAS, CALIF. — Murphy Crossing, a 361,807-square-foot office property in Silicon Valley, has sold to CBRE Strategic Partners U.S. Value 6 for an undisclosed sum. The fund is sponsored by CBRE Global Investors. The five-building, Class A property is located at 1001, 1011 and 1033 McCarthy Blvd. and 915 and 933 Murphy Ranch Road. It is situated on the border between Milpitas and North San Jose. The property is scheduled to undergo renovations and will strive for LEED certification.
HONOLULU — The 406-unit Oasis at Waipahu has received a $59.2-million refinance. The community is located at 94-207 Waipahu Street in Honolulu.Waipahu was formerly home to a sugar plantation. The 18-acre complex is owned by a joint venture between The Bascom Group, LLC and Morgan Stanley Real Estate Investing. Bascom has been involved in the property’s ownership for almost 10 years. Oasis at Waipahu has undergone significant renovations as the JV upgrades both the public spaces and individual units. The loan was originated by Jason Bressler of Mesa West Capital.
LOS ANGELES — Westwood Terrace, a 150,632-square-foot office building in the Los Angeles submarket of Westwood, has sold to a joint venture between Ocean West Capital Partners and Westbrook Partners. The institutional-quality building is located at 1640 S. Sepulveda Blvd. It is currently 67 percent leased. The seller, Jamison Properties, was represented by CBRE’s Kevin Shannon, Ken White, Todd Tydlaska and Mike Moll.
MIRAGE, CALIF. — The Silver Group has arranged the sale of eight single-tenant buildings, seven of which are occupied by AmeriTitle Inc. and one that is leased by Roy's Hawaiian Fusion Cuisine. The AmeriTitle properties are located in McCall, Idaho; and Ashland, Albany, Medford, Prineville, Redmond and Salem, Ore. The 7,780-square-foot Roy's Hawaiian Fusion Cuisine is situated on about 1.6 acres in Mirage, Calif. Roy's has 19 years remaining on its lease, which is guaranteed by Roy's parent company, Bloomin' Brands Inc. Barry Silver with The Silver Group represented the sellers in the transactions. The Silver Group is also marketing for sale 22 single-tenant properties leased to AmeriTitle that are located throughout the Pacific Northwest.
LAKELAND, FLA. — Franklin Street Real Estate Partners has brokered the sale of Woodlake Gardens, a 188-unit apartment community located at 1475 Woodlake Drive in Lakeland, for $7.2 million. Constructed in 1975, the property contains a mix of one- through three-bedroom units. The buyer, a local investor, plans to reposition the property in the near term. The Franklin Street team of Darron Kattan, Kevin Kelleher, Robert Goldfinger and Zach Ames represented the buyer as well as the seller, an out-of-state investor.
PANAMA CITY BEACH, FLA. — Forman Capital has funded a $26 million first mortgage for 280 units at the Shores of Panama, a 709-unit condominium community located in Panama City Beach. The undisclosed borrower plans to use the proceeds to refinance existing bridge debt. Terms of the deal were not disclosed.
GLEN ALLEN, VA. —Dougherty Mortgage has secured a $5.8 million loan for the refinance of The Atlantic at Twin Hickory Apartments, a 110-unit affordable housing property located in Glen Allen. The loan carries a 10-year term with 9.5 years of yield maintenance. Doughtery’s Austin Texas, office arranged the loan on behalf of the borrower, Twin Hickory Senior Associates LP.
ALEXANDRIA, VA. — Boston Capital is investing in the development of an affordable housing community in Alexandria. Old Town Commons Phase V will contain 40 two-bedroom units and 14 three-bedroom units in 10 three- and four-story buildings. All units will be EarthCraft certified. The project’s developers are EYA and the Alexandria Redevelopment & Housing Authority, who are working in partnership with the Virginia Housing Development Authority.
COLUMBUS, OHIO — Garrison Investment Group has acquired 10 industrial properties located in Columbus. The portfolio includes 772,206 square feet with three of the buildings situated in the 2600 block of Fisher Road in Columbus’ West submarket. The other seven are located close to a trio of facilities that Garrison purchased last fall. Buildings in the portfolio range in size from 19,764 square feet to 391,000 square feet. Westmount Realty Capital LLC is managing the new portfolio.