TAMARAC, FLA. — Marcus & Millichap has arranged the $15 million sale of 222 apartment units in the 291-unit Jasmine Condominiums in Tamarac. Tal Frydman, Derek Gibbs and Daniel Cunningham of Marcus & Millichap represented both the seller, an Israel-based private investment company, and the buyer, a real estate investment management group. Jasmine Condominiums is located at 8650 N.W. 61st St. and was built in 1987.
Southeast
MIAMI — Marcus & Millichap has facilitated the $5 million sale of the 24,700-square-foot Colony Shops, a retail strip center at 5058 Biscayne Blvd. in Miami’s Midtown district. The property is 100 percent occupied with a mix of local tenants including a Bikram Yoga studio, doctor’s office and law firm. Ryan Shaw of Marcus & Millichap represented the unlisted seller, and Scott Sandelin of Marcus & Millichap represented the buyer, a Miami Beach, Fla.-based limited liability company.
STUART, FLA. — Amore Dementia Care, which provides its residents with services such as exercise classes designed to promote muscle group stimulation and cognitive function, has sold for approximately $2.4 million. The property is located at 1634 S. Kanner Hwy. in Stuart. Growth Capital Investments LLC purchased the healthcare property from Soleil Management Group LLC, which has operated the 19-unit, 38-bed facility since it was built in 2000. Trusted Seniors Care Inc., a seniors housing management company, will handle the day-to-day operations. Kenneth Carriero and Damien Carriero of Colliers National Seniors Housing Group facilitated the sale.
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.
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.”