FALL RIVER, MASS. — CBRE/New England has secured a $31.5 million Fannie Mae loan to finance the acquisition of South Winds Apartments, a 404-unit residential community located in Fall River. Boston-based Taurus Investment Holdings acquired the property for $39.3 million, or $97,400 per unit. Built in 1971, the property comprises 26 buildings featuring a total of 146 one-bedroom, 218 two-bedroom and 40 three-bedroom units. John Kelly and Matt Marshall of CBRE/NE secured financing for the buyer.
ORANGE GROVE, TEXAS — ReadyCap Commercial has closed a $4 million Freddie Mac Multifamily loan for the refinancing of a multifamily property in Orange Grove. The loan features a 10-year term and a 30-year amortization schedule. Additional details of the loan and property were not released.
MADISON, WIS. — Dwight Capital has provided a $19.8 million loan for the refinancing of Blackhawk Trails Apartments in Madison. The property consists of 196 units. The 35-year loan was financed through HUD’s 223(a)(7) program at an interest rate of 3.6 percent. Blackhawk Trails LLC was the borrower. Adam Sasouness of Dwight Capital originated the loan.
PONTIAC, ILL. — Senior Living Investment Brokerage Inc. has arranged the sale of Woodridge Supportive Living in Pontiac, north of Bloomington, for $7.5 million. The 36,610-square-foot facility sits on five acres and includes 60 units. A private partnership that develops and operates assisted living and memory care facilities was the seller. A regional operator of seniors housing in Illinois was the buyer. Ryan Saul of Senior Living Investment Brokerage arranged the transaction.
COLUMBUS, OHIO — Dougherty Mortgage has provided a $5.1 million Fannie Mae loan for the refinancing of Ponderosa Village Apartments in Columbus. The property includes 119 units. The 10-year loan features a 30-year amortization schedule. The loan was arranged through a partnership with Old Capital Lending and Dougherty’s Vienna, Va. Office. Wolfe Sumrok LBC LLC was the borrower.
WEST ST. PAUL, MINN. — Marcus & Millichap has arranged the sale of Emerson Hill in West St. Paul for $4.8 million. The 35-unit apartment community is located at 993 Robert St. South. Mox Gunderson, Dan Linnell and Josh Talberg of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The team also represented the buyer, a private investor.
MELBOURNE, FLA. — Passco Cos. has purchased Marisol at Viera, a 282-unit multifamily community located at 2439 Casona Lane in Melbourne, from Pollack Shores Real Estate Group for $50.3 million. The Class A property is situated within Viera, a 22,000-acre master-planned development in Brevard County. Marisol at Viera features two poolside bars and outdoor kitchens, a private club and amenities deck, clubroom and TV lounge, 6,500-square-foot dog park with an outdoor grooming station and electric car charging stations. Ken Delvillar and Jay Ballard of Cushman & Wakefield represented both Passco Cos. and Pollack Shores in the transaction. Chris Black of KeyBank Real Estate Capital arranged acquisition financing through Fannie Mae on behalf of Passco.
BEDFORD, TEXAS — Caddis has broken ground for Heartis MidCities, its newest senior living community in Texas. Located in Bedford, the 178,530-square-foot property will feature 178 independent living, assisted living and memory care units, outdoor walking paths, courtyards, and game and activity rooms. Cameron, Texas-based EBCO is constructing the property, which is slated for completion in winter 2017. Expedition Capital Advisors LLC provided construction financing on behalf of Caddis. Frontier Management will manage the property, and Austin-based Katus LLC is serving as architect for the project. The property is Caddis’ fifth seniors housing community near Dallas/Fort Worth and its 12th in Texas.
UNIVERSAL CITY, TEXAS — Lowe Enterprises Investors, in a joint venture with an investment client, has acquired Sunrise Canyon, an apartment complex located at 501 Sunrise Canyon Drive in Universal City, for an undisclosed price. Built in 2005, the property offers 208 apartments in one-, two- and three-bedroom layouts. On-site amenities include a clubhouse, resort-style pool, fitness center, business center, outdoor kitchen with grilling area and a dog park. United Apartment Group has been retained to manage the property. CBRE represented the seller, KKR, in the deal. Berkadia provided financing services for the acquisition.
HOUSTON — Atlantic|Pacific Cos., with its co-sponsor fund Blue Atlantic Partners, has acquired Vintage Park Apartments in Houston for an undisclosed price. The property features 324 units in a mix of one- and two-bedroom floor plans, a swimming pool with splash pad, fire pit, picnic areas with barbecue pits, a business center, 18-seat media room, fitness center, children’s playground, covered parking and an outdoor seating area with a fireplace. Atlantic|Pacific Management will handle property management responsibilities for the property. The name of the seller was not released.
