GREENSBORO, N.C. — Coastal Apartment Advisors has brokered the $1.52 million sale of the 36-unit Wendover Ridge Apartments, located at 514 Coapman St. in Greensboro. Coastal Apartment Advisors represented the seller, CW Capital, and procured the undisclosed buyer.
CARY, N.C. — Walton Street Capital has sold the 176-room Woodland Terrace, a senior housing community located at 300 Kildaire Woods Dr. in Cary. CLW Health Care Services Group represented the seller in the transaction. The buyer was a Prudential-related entity. Kisco Senior Living, which was a minority partner for both the buyer and seller, will continue to manage the property.
OVIEDO, FLA. — NorthMarq Capital has arranged $17.75 million in first mortgage financing for the 240-unit Oviedo Grove, a multifamily property located on Oviedo Grove Circle in Oviedo. Lamar Sarra of the firm's Jacksonville, Fla., office secured the 7-year loan with a 30-year amortization schedule through Freddie Mac.
MORRISVILLE, N.C. — The Connor Group has sold the 300-unit Waterford Apartments, located at 1124 Rose Ridge Dr. in Morrisville, for $28.5 million. Amenities include a swimming pool, fitness center, business center, laundry facility, sand volleyball court and attached garages.
BALTIMORE — Harbor Group International has purchased the 234-unit Belvedere Towers Apartments, located at 1190 W. Northern Pkwy. in Baltimore, from an undisclosed seller for $26.1 million. The buyer plans to invest an additional $2.6 million into exterior and interior renovations, including the completion of unit interior upgrades that were started by the seller. Bill Roohan, Mike Muldowney and Brian Margerum of CBRE's Baltimore office represented the seller in the transaction.
TALLAHASSEE, FLA. — ARA has arranged the $21.7 million sale of the 242-unit Jackson Square Apartments, located at 1767 Hermitage Blvd. in Tallahassee. Kevin Judd of ARA's Jacksonville, Fla., office and Matt WIlcox of ARA's Tampa, Fla., office represented the seller, a TIC, and procured the buyer, Tribridge Residential, in the transaction.
SANFORD, FLA. — Hilton Head Island, S.C.-based Coastal Apartment Advisors has negotiated the $12.45 million sale of the 256-unit Sailpointe at Lake Monroe, located at 401 W. Seminole Blvd. in Sanford. Coastal Apartment Advisors represented the seller, LNR Partners, and procured the buyer, Robbins Property Associates, in the transaction.
ASHEVILLE, N.C. —- Florida-based Babyfish Two has purchased the 95,781-square-foot Gerber Village, a mixed-use property located at the intersection of Hendersonville and Gerber roads in Asheville, from HMP Properties for $8.9 million. Mike Burkard and Steve Shields of CBRE's Charlotte, N.C., office represented the seller, and Key Commercial Real Estate's Asheville office represented the buyer. Gerber Village is anchored by Office Depot and was 64 percent leased at closing to tenants such as Charles Schwab, Verizon Wireless, Five Guys Burgers & Fries, Frankie Bones Restaurant & Lounge and The Thirsty Monk. The property features 60,111 square feet of retail space, 27,572 square feet of office space and seven residential units totaling 8,098 square feet.
BOCA RATON, FLA. — Alliance Residential Co. has started construction on the $62 million, 384-unit Broadstone at North Boca Village, located along North Federal Highway in Boca Raton. Apartments will feature stainless steel appliances, washers and dryers, granite countertops and 9-foot ceilings. Completion is slated for March 2013.
ORLANDO, FLA. — Wood Partners has acquired 9.69 acres of land to build the $32.7 million, 264-unit Alta at Lake Eve, located on International Drive in Orlando. Apartments will feature ENERGY STAR appliances, washers and dryers, and wood laminate flooring. Charlan Brock & Associates is the architect for the project and HSBC Bank USA is providing construction financing. SunTrust foreclosed on the land last year after the previous owner, Eve Development, defaulted on a $3.8 million loan. Stephen Flanagan with Land Advisors Organization's Orlando office represented the buyer in the transaction and Paul Hoffman of Maitland, Fla.-based Coldwell Banker Commercial NRT represented the seller. Completion is slated for March 2013.