MELBOURNE, SEBRING & ST. PETERSBURG, FLA. — J. Cary Monroe and Michael Giordano of Monroe & Giordano’s Tampa, Fla., office have arranged $12.5 million in financing for three manufactured home communities totaling 477-sites. The 112-site The Villages of Ponce de Leon in Melbourne received an acquisition loan of $5.8 million. The purchaser and seller formed a new joint venture. The 95-site Thunderbird Hill South in Sebring received $1.5 million in financing and the 270-site Palm Haven in St. Petersburg was refinanced with a conduit loan of $5.2 million.
Southeast
WILTON MANORS, FLA. — Mark Grace of NorthMarq Capital’s Los Angeles office has arranged $8.5 million in first-mortgage financing for the 150-unit Wilton Tower Apartments. The financing was based on a 5-year fixed term with a 30-year amortization schedule. Financing was provided by AmeriSphere Multifamily Finance, a Fannie Mae DUS Lender.
SALISBURY, MD. — CB Richard Ellis’ Baltimore-Washington DC Multi-Housing Investment Team has arranged the sale of the 104-unit Tide Mill, located at 623 Edgewater Dr. in Salisbury. Fairfax Station, Va.-based Fairfax Station Enterprises purchased the community for $6.8 million from an entity owned by Douglas Margerum, a principal of Annapolis-based Cove Property Management and Michael B. Gross. Bill Roohan, Mike Muldowney, Michael Rudolph, Brian Margerum, Martha Hastings and Trish Bonebrake of CBRE’s Baltimore office, and Joe Schneider of Schneider, Richardson & Davis, LLC, represented the seller in the transaction.
ELIZABETHTOWN, KY. — Tammy Tate of Love Funding’s Knoxville, Tenn., office has closed a $5.07 million refinancing loan for the 62-unit Clays Pointe Duplexes in Elizabethtown. The loan was secured through the Federal Housing Administration’s 223(f) loan insurance program. The borrower, DuPlessis Clays Pointe Property, used the financing to acquire the rest of the property it did not already own from Twin Maple. DuPlessis owned 11 of the 31 duplexes on site prior to the refinancing. The cost to purchase the additional 20 duplexes from Twin Maple was $4.13 million.
GAINESVILLE & TALLAHASSEE, FLA. — New York City-based Madison International Realty has acquired an 80 percent equity interest in a portfolio of two student housing communities in Florida for $30 million. The properties are the 412-unit The Enclave in Gainesville and the 486-unit Seminole Grand in Tallahassee. Both communities are owned and operated by The Collier Cos.
GAINESVILLE, FLA. — Marcus & Millichap has arranged the sale of the 91-unit, 110,597-square-foot The Courtyards in Gainesville. Dorothy Jackman and Travis Prince in the firm's Tampa office represented the seller, Trimark Properties. The buyer is a Florida-based owner and developer.
NAPLES, FLA. — PAC Investors has purchased the 78-unit Laurel Ridge Apartments, located at 5543 Laurel Ridge Lane in Naples, from Cypress Point L.P. for $3.32 million. Jonathan Richards of CB Richard Ellis' Naples office and Thomas Fischer of the firm's Columbus, Ohio, office represented the seller in the transaction.
CALVERTON, MD. — Merritt Properties has signed two new tenants at the 123,144-square-foot Calverton Corp. Center, located at 3901 Calverton Blvd. in Calverton. The Cruise Web signed a lease for 14,799 square feet to relocate its corporate headquarters in July and Atkins will relocate from its current Beltsville, Md., office to 27,763 square feet in November. Ron Burkhardt of Newmark Knight Frank's Los Angeles office represented The Cruise Web and Mike Isen and Allen Cornell of Lanham, Md.-based NAI Michael Cos. represented Merritt. In the other transaction, Merritt was self-represented by Steve Shaw and Bryan Rodriguez of Jones Lang LaSalle's Tampa, Fla. office, Mike Singer of the firm's Baltimore office and Mia Costa of the firm's Bethesda, Md., office represented Atkins.
PELHAM, ALA. — The 74,008-square-foot Pelham Towne Center in Pelham has sold to Dallas-based Encore Retail. The center is anchored by a 45,600-square-foot Publix. Neal Pringle and Mark Cooley of Atlanta-based The Shopping Center Group's Investment Sales Team represented Sharp Realty & Management, the seller.
AVENTURA, FLA. — Miami-based Aztec Group has arranged $35 million in acquisition financing for the One Turnberry Place, a 136,400-square-foot, Class A office building located at 19495 Biscayne Blvd. in Aventura. Tenants include Morgan Stanley, Merrill Lynch, Bank Leumi USA, Chase Bank, Fidelity Investments, Brody & Associates and Ameriprise Holdings. The 10-year financing was provided by Credit Suisse/Column Financial for the buyer, OTP Capital, an affiliate of Aventura-based Triarch Investment Group.