LOS ANGELES — JCH Consulting Group, a brokerage specializing in seniors housing, has arranged the sale of a 90-unit assisted living and memory care community in Los Angeles for $23.4 million. The name of the facility was not disclosed. The seller was an independent owner/operator based in Southern California. The buyer was a real estate investment firm that will use a third-party management company. With a sales price of $260,000 per unit, the community currently features a 6.6 percent capitalization rate and 86 percent occupancy.
SCOTTSDALE, ARIZ. — Arizona-based marketing agency Leavitt Digital has launched its Senior Living Division and hired Kim Tranmer, a 25-year industry veteran, as managing director. Leavitt Digital’s new division focuses on increasing the online presence, search engine optimization (SEO), review monitoring, and press releases distribution in the seniors housing industry. Tranmer’s career in seniors housing includes sales, marketing, consulting and management prior to joining Leavitt Digital. Her primary role will be business development and relationship management, presenting Leavitt Digital’s platform to owners, managers and consultants in the industry.
CLEAR LAKE CITY, TEXAS — Jamie Mullin of LMI Capital has arranged $5 million in debt for the cash-out refinance of a garden-style apartment complex in the Clear Lake submarket of Houston. Mullin worked on behalf of the borrower to obtain a seven-year, fixed-rate loan. The entire term consists of interest-only payments.
FORT WORTH, TEXAS — Mark One Capital has arranged financing for a 52-unit apartment property in Fort Worth. The loan amount was not released. Chris Parker of the firm’s Dallas office arranged the loan. The property, Shadowood Apartments, is located on Calmont Avenue along I-30. The non-recourse loan was structured with a 20-year term and amortizes over 30 years with an interest rate of 3.81 percent. The loan-to-value ratio was 75 percent.
BROOKHAVEN, GA. — Franklin Street Real Estate Services has brokered the $3.3 million sale of North Cliff Valley Apartments, a townhome apartment community located at 1350 N. Cliff Valley Way N.E. in Brookhaven, an affluent suburb of Atlanta. The apartment complex is located within close proximity to Cross Keys High School and I-85. Jake Reid and Ricky Jones of Franklin Street represented the seller in in the transaction. The apartments were the second property in a two-property sale, which included the previous sale of Lenox Townhomes.
TEMECULA, CALIF. — The Praedium Group has acquired The Vineyards at Paseo Del Sol, a 288-unit apartment community in Temecula, for $69.6 million. The community is located at 31901 Campanula Way. The property was built in 2014. Paseo Del Sol is the only LEED Gold-certified apartment community in Temecula. It is currently 87 percent leased. CBRE’s Curtis Palmer, Peter Sherman and Paul Runkle represented the seller, the Dinerstein Companies. Brian Eisendrath and Annie Rice of CBRE Capital Markets’ Debt & Structured Finance team secured $43.3 million in financing for the acquisition.
LAS VEGAS — Security Properties has purchased the 275-unit Verona Apartment Homes in the Las Vegas submarket of Henderson for $40 million. The community is located at 6765 Tulip Falls Drive. Security Properties-affiliate Madrona Ridge Residential will manage the Class A asset, which was built in 2007. Verona was purchased through Security’s Multifamily Fund II. It is the fund’s second purchase within the Las Vegas market.
SAN DIEGO — An affiliate of Maxxam Enterprises has purchased the William Penn Building, a mixed-use property in downtown San Diego’s Gaslamp District, for $10.2 million. The building is located on the corner of 5th Avenue and F Street. It was built in 1913. The property contains 18 residential units and 10,795 square feet of commercial space, with Maloney’s Tavern as the anchor tenant. The building is designated as historical on the San Diego Register and the National Register of Historic Places. CBRE’s Jim Neil, Eric Comer and Merrick Matricardi represented the seller, Penn LLC.
IRVING, TEXAS — Greysteel, a Washington, D.C.-based real estate investment services firm, has arranged the sale of Hacienda Serena, a 38-unit garden-style apartment community in Irving. Boyan Radic, Doug Banerjee, Andrew Mueller, and John Marshall Doss of Greysteel served as advisor and agent to Hacienda Serena LLC in the disposition of the multifamily community to I & J – DSI LLC. The recently renovated apartment complex is immediately accessible to public transportation and major commuter thoroughfares such as the Downtown Irving/Heritage Crossing Station of TRE and Highway 183.
DALLAS — Jim Hoopes of NorthMarq Capital’s Minneapolis office and Stephen Whitehead of the firm’s Dallas office arranged $18.2 million in acquisition financing for Alexan Trinity, a 167-unit multifamily property located at 333 E. Greenbrier Lane in downtown Dallas. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. The property features unobstructed views of downtown Dallas.