SAN FRANCISCO — The 376-unit Eucalyptus Grove apartments in Chula Vista received a $38.06-million loan. It is located at 67 East Flower Street. The seven-year, fixed-rate loan was arranged by Clay Akiwenzie of Berkadia Commercial Mortgage LLC, for Wasatch Premier Properties. The loan was arranged through Fannie Mae.
SEATTLE – The 360-unit Waterford Place Apartments in the Seattle submarket of Woodinville has sold to Grosvenor Americas for an undisclosed sum. The new owners plan to renovate the property. Pete Shelton and Kim Grant of Cushman & Wakefield represented the seller in the transaction.
ENCINO, CALIF. – The 45-unit Margate Imperial Apartments in Encino has sold to a family partnership for $9.65 million. It is located at 17849 Margate Street. Michael Hanassab and Elliot Hassan of Marcus & Millichap’s Los Angeles office represented the buyer and the unnamed seller in this transaction.
NAPLES, FLA. — CFC Partnership has purchased a 50,000-square-foot office building, located at 4851 Tamiami Trail N. in Naples, from Naples RB Holdings LLC for $9.5 million. David Stevens of Investment Properties Corp. represented the buyer in the transaction.
LARGO, FLA. — Marcus & Millichap has arranged the $4.9 million sale of the 96-unit Dairy Place Apartments, a multifamily property located at 6701 Bryan Dairy Road N. in Largo. Michael Regan, Francesco Carriera and Nicholas Meoli of Marcus & Millichap represented the seller, a Kansas-based financial institution, in the transaction. Regan and Carriera also represented the Florida-based buyer.
TALLAHASSEE, FLA. — Cabat Properties has acquired the 180-unit Monterey Apartments, a multifamily property located at 2301 Old Bainbridge Road in Tallahassee, from Monterey Associates for $3.75 million. The buyer plans to renovate and reposition the property. Gerald Smith of Smith Equities Real Estate Investment Advisors represented the seller in the transaction.
COLUMBIA, MD. — The 4,722-square-foot Shoppes at Dobbin Center, a three-tenant retail building located in Columbia, has sold for $3.45 million. The property is leased to Starbucks, Radio Shack and Spa #1 Nails. Andrew Fallon of Calkain Cos. represented the seller in the transaction. The buyer was a Washington, D.C.-based investor.
BALTIMORE, MD. — American Real Estate Capital has arranged a $43.5 million loan to refinance the construction loan on the 194,998-square-foot McHenry Row, a Class A office and retail building located in Baltimore. The property includes a 60,988-square-foot Harris Teeter, 47,032 square feet of retail space and 86,978 square feet of retail space. The apartment component and parking garages are not part of the collateral.
DES MOINES, IOWA — DoubleTree by Hilton has opened the newly renovated, 100-room DoubleTree by Hilton Des Moines Airport. Formerly a Radisson, the hotel is owned and operated by Heart of America Group under a franchise agreement with a subsidiary of Hilton Worldwide. Guest rooms at the full-service hotel feature new carpeting, window treatments, furniture and bedding. The property also features a new lobby lounge. The hotel is adjacent to the Des Moines International Airport.
AURORA, OHIO — Marcus & Millichap has arranged the sale of Aurora Inn & Conference Center, a 69-room hotel in Aurora. The full-service hotel was built in 1962 and is located at 30 East Garfield Road. Amenities include an indoor and outdoor pool, hot tubs, courtyards, tennis courts and a restaurant. Jonathan Ruprai of Marcus & Millichap represented the seller, a financial institution, in the transaction. He also represented the buyer, a limited liability company.