TEXAS — Arbor Commercial Funding has arranged six loans totaling $33.47 million through Fannie Mae DUS and Fannie Mae DUS Affordable Housing Loan product lines for six multifamily properties. The communities include the 350-unit Park Village Apartments in Dallas, the 153-unit San Carlos Apartments in Dallas, the 50-unit Windsor Park Rental Homes in Fort Worth, the 309-unit Gardenview Apartments in Pasadena, the 122-unit Meadow Park Townhomes in Hewitt and the 140-unit Ridgeview Apartments in Sherman. Anthony Tarter of Arbor's Dallas originated the Fannie Mae loans for all six properties.
DALLAS — HFF has secured financing for three multifamily communities totaling 600 units, located in the Dallas suburbs of Grand Prairie, Arlington and Irving. The communities include the 154-unit Windscape Apartment Homes in Grand Prairie, the 236-unit Oakchase Apartment Homes in Arlington and the 210-unit Stoneleigh at Valley Ranch in Irving. Windscape is fully leased, Oakchase is 98 percent leased and Stoneleigh is 95 percent leased. John Brownlee of HFF arranged the financing through Freddie Mac's CME program on behalf of the borrower, Pure Multi-Family REIT LP.
LAKE FOREST, CALIF. — A 71,656-square-foot industrial/research & development building in Lake Forest has received $6.2 million in permanent financing. The building was constructed in 1999 and is fully leased to Panasonic Avionics Corporation, a subsidiary of Panasonic Corporation of North America. Financing was arranged by Kevin Burkhalter of Johnson Capital’s Los Angeles office. It was provided by a major insurance company and features a fixed interest rate of around 4 percent with a fully amortizing 20-year term. The recent buyer is a Los Angeles-based privately held entity.
ANAHEIM, CALIF. – The 82,544-square-foot La Palma Industrial Building has received $5.8 million in acquisition financing. The facility is located at 4890 E. La Palma Ave. in Anaheim. This asset is a single-tenant owner-user building. The 10-year loan features a 25-year amortization schedule and an 80 percent loan-to-value. It was arranged by David Blum of NorthMarq Capital’s Los Angeles regional office.
CORVALLIS, ORE. – The 132-unit Witham Village Apartments in Corvallis has received a $5.7-million refinance. The 10-year, fixed-rate loan features a 4.24 percent interest rate and a 30-year amortization schedule. It was arranged by Dan Ross of Alliant Capital LLC.
LOS ANGELES — A 34,800-square-foot, three-parcel multifamily development site in Los Angeles’ Koreatown district has sold to a local owner/developer for $5.1 million. The lender-owned site is located at 660-680 South Berendo Street. The site was initially entitled for a 17-story, 150-unit tower in 2007. Paul Darrow and Ron Harris of Marcus & Millichap’s Los Angeles office represented both the buyer and the seller, a private lender, in this transaction.
CONCORD, N.C. — Beacon Partners has added 68 acres to an existing 54-acre parcel with plans to develop a 1.5 million-square-foot manufacturing facility called RiverOaks Corporate Center. The property is located at the corner of Poplar Tent and Derita Road. As part of the development, Beacon worked with the property owner to donate 28 acres to the Cabarrus County Soil and Water Conservation District, which will serve as an amenity for park employees and be incorporated into the Carolina Thread Trail. Beacon Partners is the developer, ColeJenest & Stone is the civil engineer and Merriman Schmitt Architects is the project architect. Grading of the site will begin in the second quarter of 2013. Jim Plyler and Lester Osborn of Piedmont Properties represented Beacon Partners in the transaction. Glen Tucker of Re/Max represented the property owner.
DOTHAN, ALA. — Batson-Cook has topped off the $25 million, 110,000-square-foot Alabama College of Osteopathic Medicine (ACOM) in Dothan. The facility will be affiliated with Southeast Alabama Medical Center, which will accept 162 students for the program. KUD International is the developer for the property and Barrios Architects is the architect. The three-story building will include two auditoriums, laboratory space, study rooms, administrative offices, a student lounge and a teaching clinic. Completion is slated for April 2014.
VERO BEACH, FLA. — Kite Realty Group has acquired a 138,000-square-foot shopping center, located on U.S. Highway 1 in Vero Beach, for $15.2 million. Publix and Stein Mart anchor the center, which is 99 percent leased. As part of the transaction, the company assumed a $7.9 million mortgage.
ATLANTA — STAG Industrial has purchased a 407,981-square-foot warehouse and distribution building, located in Atlanta, for $11.3 million. The property is fully leased to Empire Distributors, which has nine years remaining on its lease. The facility serves as the company's headquarters facility and the main distribution point for the State of Georgia.