SEATTLE – The eight-unit Leschi Flats apartment building in Seattle has sold to a private investor for $2.1 million. It is located at 109-115 30th Ave. The investor was represented by Dan Swanson of Marcus & Millichap’s Seattle office.
MIAMI AND BOCA RATON, FLA. — David Woida of NorthMarq’s Milwaukee regional office has arranged approximately $62 million in combined first mortgage refinancing for three South Florida multifamily properties totaling 926 units. The 362-unit Waterford Landing Apartments was financed at $25.2 million and the 244-unit Waterford Point Apartments at $16.5 million in Miami. The 320-unit Reflections of Boca Apartments was also financed at $20.25 million. Financing for these properties was based on a 10-year term and a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its seller/servicer relationship with Freddie Mac.
LAUREL, MD. — Montpelier Research Park, a four-building office/flex property at 7701-7707 Montpelier Rd. in Laurel, has traded for $18.85 million. Los Angeles-based Fort Properties sold the 158,000-square-foot property to Exeter Property Group. Jonathan Carpenter and James Wellschlager of Cassidy Turley’s Capital Markets Group represented Fort Properties in the transaction.
DURHAM, N.C. — The 248-unit Carver Pond, a garden-style apartment community in Durham, has traded for $12.3 million. First Market Properties sold the multifamily property to VTT Management. Andrew Klenk, Beau McIntosh and Brian Ford of Capstone Apartment Partners’ Charlotte, N.C. office represented the seller.
ALABASTER, ALA. — The 200-unit Woodbrook Trail Apartments has sold for $8 million in Alabaster. Birmingham, Ala.-based Ambler LLC sold the multifamily property to New York-based TEG Acquisitions LLC. Woodbrook Trail Apartments was built in two phases in 1977 and 1988 and totals 179,344 square feet with one-, two- and three-bedroom units. David Oakley of Hendricks & Partners Alabama office represented the seller.
NORTH MIAMI, FLA. — Marcus & Millichap has facilitated the $2.12 million sale of Sans Souci Gardens, a 34-unit apartment property at 1790 N.E. 117th Rd. in North Miami. Felipe Echarte and Joseph Thomas of Marcus & Millichap’s Fort Lauderdale, Fla., office represented the seller, a private investor from Aventura, Fla. The buyer, which was secured by Marcus & Millichap’s Arthur Porosoff, was a Fort Lauderdale-based limited liability company. San Souci Gardens consists of three adjacent apartment buildings with one- and two-bedroom units.
CHICAGO—A group of investors has purchased 540 West Madison in Chicago for a reported $350 million. The partnership included Joseph Mizrachi, David Werner, Eyal Ben-Yosef, David Alcalay, Bruce Wisbaum and Dr. Zvi Sharf, Carlton Associates Inc. and the investment division of Independent Health. The investors secured senior mortgage and mezzanine financing from Deutsche Bank to acquire the 1.1-milion-square-foot office tower. Jones Lang LaSalle capital markets team secured a fixed-rate, interest-only five-year loan for a reported $250 million through Deutsche Bank for the deal. The 31-story, LEED gold-certified property was completed in 2003 and is currently 91 percent leased.
OMAHA, NEB. — Broadmoor Hills II, a Class A multifamily apartment community in Omaha, has received $11.28 million in first mortgage refinancing. Financing for the 150-unit multifamily property was based on a 10-year term and a 30-year amortization schedule. John Bendon and Jason Kinnison of NorthMarq’s Omaha office arranged the loan through its seller-servicer relationship with Freddie Mac.
ST. LOUIS — McGrath & Associates has completed construction of a $1.8 million bone marrow transplant center at Saint Louis University Hospital. Located within the Saint Louis University Cancer Center, the 9,900-square-foot facility, designed by Fox Architects, is the first comprehensive outpatient bone marrow transplant center in the region. The center was constructed in an existing hospital space, and the expected open date is unknown.
BOLINGBROOK, ILL. — Penn Station Subs and Integrity Dental Associates have each signed leases for 1,600 square feet of retail space at Country Aire Commons shopping center in Bolingbrook. Both tenants are scheduled to open their doors in early 2013. Located in Country Aire Commons at 266-286 S. Weber Road, the center currently has two vacancies remaining. NAI Hiffman’s Claire Bitautas and Anne Callard represented Garber Properties, the landlord in the transaction. Bill Selonick of Newmark Knight Frank represented Penn Station Subs, and Karen Kramford of Ryan Hill Realty represented Integrity Dental.