CHICAGO — Marcus & Millichap has arranged the $2.7 million sale of a 19-unit apartment property in Chicago. The property is located at 900 W. Sunnyside Ave. in Chicago’s Uptown neighborhood. Steve Livaditis and Joseph Scheck of Marcus & Millichap’s Chicago O’Hare office represented the undisclosed seller and buyer, a local investor.
CONSHOHOCKEN, PA. — HFF has arranged the sale of, as well as joint venture equity and acquisition financing for, Riverwalk at Millennium, a multifamily community in Conshohocken. A joint venture between Scully Co. and Long Wharf Real Estate Partners, which was arranged by HFF, purchased the 375-unit community from Riverwalk Realty Co. for an undisclosed price. HFF worked on behalf of the buyer to arrange a 10-year, floating-rate loan through Freddie Mac’s CME Program. The securitized loan will be serviced by HFF through its Freddie Mac Program Plus Seller/Servicer program. Situated on 7.9 acres at 309 Washington St., Riverwalk at Millennium features 239 one-bedroom units and 136 two-bedroom units, averaging 923 square feet. Community amenities include a clubhouse with fireplace, billiards and pub room; a resort-style swimming pool with sundeck; river views; a fitness center; and a business center with conference facilities. Mark Thomson, Zac Pierce, Jose Cruz and Kevin O’Hearn of HFF represented the seller in the transaction. Jim Cardranell, Ryan Ade and James Conley of HFF negotiated the financing for the deal.
NEW YORK CITY — Marcus & Millichap has brokered the sale of an apartment building located at 153 Eagle St. in Brooklyn. The six-unit property sold for $1.7 million. Shaun Riley, James Saros and Michael Salvatico of Marcus & Millichap’s Brooklyn office represented the seller and buyer, both of which are private investors, in the transaction.
DENVER – The Amherst Apartment Homes, an 81-unit multifamily property in Denver, has sold to a local buyer for $5.6 million. The community is located at 2775 S. Federal Blvd. It was built in 1973. The property was most recently renovated in 2010. The sale was executed by Josh Newell and Robert Lawson of Pinnacle Real Estate Advisors. The buyer assumed the unnamed seller’s current Fannie Mae loan.
ATLANTA — The Trillist Cos. Inc. has begun construction on YOO on the Park, a 25-story apartment tower located adjacent to Piedmont Park in Midtown Atlanta. The Trillist Cos. partnered with London-based YOO Studio on the 245-unit multifamily project, which will be located at 207 13th St. between Juniper Street and Piedmont Avenue. The property’s amenity package will include multiple resident lounges, game rooms, a virtual golf simulator, indoor and outdoor fitness facilities, resort-style pool and lounge, 24-hour concierge services, bike fix-it station and pet facilities with dog grooming stations. Trillist Cos. and YOO Studio are expecting a summer 2016 completion.
FRANKLIN, TENN. — CFG Capital Markets has brokered the $7.5 million sale of Claiborne Hughes Health Center, a 157-bed skilled nursing facility (SNF) located in the town of Franklin. The facility is located approximately 30 minutes south of Nashville and is one of five licensed skilled nursing facilities in the county. The building was originally constructed in 1949 as a high school and converted into a SNF in 1981. Claiborne Hughes was sold for $47,770 per bed to a private investor group. Proceeds were used to fully retire HUD mortgage debt and other liabilities. Michael Burchell, Mike Coiro and Samer Tahboub of CFG Capital Markets were the advisors on the transaction representing the seller.
HOUSTON — A development team including Jim Borders and Novare Group, with co-sponsor Batson-Cook Development Co., local development partner Peter W. Dienna, general contractor Batson-Cook Construction Co. and architectural firm Smallwood, Reynolds, Stewart, Stewart, has broken ground on SkyHouse Main. The development will be located at 1725 Main St. in Houston and will feature 336 residences across 24 stories, along with 7,200 square feet of street-level retail space. SkyHouse Main apartment homes will have floor-to-ceiling glass and high-end finishes, including stainless steel appliances, granite countertops, wood floors, balconies and high-speed Internet. The amenity package included a top floor featuring a club room, fitness center, pool and grilling area and unimpeded views of Houston. The project is within walking distance of more than 40 million square feet of office space, the Toyota Center, Minute Maid Park and BBVA Compass Stadium. The project will be adjacent to the Bell Station Metrorail stop, providing access to the Texas Medical Center. SkyHouse Main is the 14th SkyHouse-branded apartment community in the United States following projects in Dallas, Houston, Austin, Atlanta, Tampa, Orlando, Charlotte and Raleigh. The project will generate more than 500 temporary construction jobs and about 50 permanent jobs when finished. Batson-Cook Development …
DALLAS — Henry S. Miller Co.’s Fred Dumlao has brokered the purchase of Las Brisas Apartments. The 244-unit apartment complex is located at 9911 Whitehurst Drive in northeast Dallas, just south of I-635. Whitehurst 9911 Partners LLC purchased the apartment complex and has chosen City Gate Property Group as the property management partner. Greysteel represented the seller in the transaction.
PORT ST. LUCIE, FLA. — Atlantic | Pacific Development (A|P Development), the development platform under Atlantic | Pacific Cos. (A|P Cos.), has opened The Atlantic at Tradition, a 252-unit luxury apartment community in Port St. Lucie. The property is the Town of Tradition’s first luxury apartment community. The property features a swimming pool, fitness center, meeting rooms, children’s playroom, movie theater and an outdoor summer kitchen. Each unit features kitchens with stainless steel appliances, wood flooring in all living areas, washer and dryer units and personal balconies and patios.
ANDOVER, MASS. — Wood Partners LLC has broken ground on a mixed-income rental community on the former site of the Rolling Green Golf Course on Wood View Way in Andover. The 224-unit development will include 134 one-bedroom units, 70 two-bedroom units and 20 three-bedroom units, 56 of which will be affordable units. Leasing is expected to being in April 2016 and construction is slated for completion in July 2016. Interior finishes will include granite countertops, stainless steel appliances, wood cabinets, upgraded lighting and plumbing fixtures and wood-plank style flooring. Additionally, each residential building will include a fitness center with cardio and weigh-training and yoga/stretching space. The community clubhouse will feature gaming and media functions, wireless connectivity, a coffee bar and serving kitchen. Other on-site amenities include a saltwater pool, expansive sundeck, two courtyards with grilling stations and outdoor dining space, a multi-use recreational field, half basketball court, children’s outdoor play equipment and a dog park. The property will be managed by Wood Residential Services, Wood Partners’ property management division. WP East Builders is the general contractor, BlackRock is the equity partner, and Chelsea, Mass.-based The Architectural Team designed the community.