NORFOLK, VA. — Hampton Roads Church has purchased the 13,500-square-foot Brith Sholom Center at 1132 Pickett Rd. in Norfolk for $1.25 million to serve as a new church location. Geoffrey Poston of Cushman & Wakefield/Thalhimer represented the seller, and William Throne of Cushman & Wakefield/Thalhimer represented the buyer.
Southeast
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.
CHARLESTON, S.C. — Love Funding, a provider of FHA multifamily and healthcare financing, has closed a $361.4 million loan modification for the Medical University Hospital Authority (MUHA) in Charleston. MUHA, a division of the state of South Carolina, owns and operates the Medical Center of the Medical University of South Carolina (MUSC Health). The transaction, which was secured through the U.S. Department of Housing and Urban Development’s Section 242 loan insurance program, is the third-largest hospital loan in the agency’s history. Steven Hunt of Love Funding secured the loan, which was underwritten by Matthew Andrea of Love Funding. MUSC Health is a 696-bed teaching hospital and was recognized in 2012 by U.S. News & World Report as “One of America’s Best Hospitals.”
WOODBRIDGE, VA. — A joint venture between The Donaldson Group (TDG) and Angelo, Gordon & Co. (AG) has acquired Rolling Brook Village, a 732-unit multifamily in Woodbridge, for approximately $107.5 million. The partnership plans to invest $5 million in upgrades and renovations to the buildings, common areas and apartment units, including new kitchens in all units. Walker & Dunlop assisted the partnership in obtaining acquisition financing through Freddie Mac. Miles Spencer of Eastdil Secured represented the unlisted seller. Rolling Brook Village is situated on approximately 55 acres and 24 miles south of Washington, D.C. It includes 53 garden-style apartment buildings that were constructed in two phases in 1988 and 1990. The one- and two-bedroom units range from 644 to 1,038 square feet in size.
NORTH LAUDERDALE, FLA. — Alison Williams and Stephen Whitehead of NorthMarq’s Dallas regional office have arranged $38 million in acquisition financing for Parrot’s Landing, a 560-unit multifamily community in North Lauderdale. Financing was based on a 10-year term and a 30-year amortization schedule. The property was constructed in two phases in 1987 and 1997. It consists of one-, two- and three-bedroom units and amenities include two clubhouses, three swimming pools, a sundeck, fitness center, lighted tennis court, car care center, business center and running trails. A Toronto, Canada-based private real estate investment company purchased the property.
JACKSONVILLE, FLA. — Philip Rachels of Capital Advisors has arranged $16.2 million in refinancing for Oasis at Mandarin Apartments, a 256-unit multifamily community at 3355 Claire Lane in Jacksonville. The 10-year loan was arranged on behalf of the borrower, Claire Pointe JAX Developers LLC, through Freddie Mac. The property includes one-, two- and three-bedroom units in 16 three-story buildings that were constructed in 1986 and partially renovated in 2006. Amenities include a clubhouse, fitness center, two swimming pools, tennis court and playground.