Multifamily

SYRACUSE, N.Y. — The 256-unit Clarendon Heights Apartments, a community located near the Syracuse University campus, has sold. The garden-style property was originally built in the 1970s and renovated in the late 1980s. Tenants include graduate students from Syracuse University, Upstate Medical University and working professionals. The new ownership is from Cortland, N.Y. and has hired DLH Properties to manage the property. Louis Fournier of The Sutton Cos. and Gail McDonough of Colliers International represented the seller in the transaction.

NEWARK, DEL. — A fund managed by Sentinel Real Estate Corp. has acquired The Apartments at Pike Creek, a 264-unit garden-style complex in Newark. The complex is situated on 19 acres and contains 11 three- and four-story buildings. Amenities include a swimming pool, tennis court, fitness center with sauna and a car care center. The community is located near I-95 and is 40 miles south of Philadelphia. Karen Iman, Brian Whitmer, Andrew Merin and Anthony Liberto of Cushman & Wakefield represented the seller, Henderson Global, in the transaction. They also procured the buyer.

WARMINSTER, PA. — J.G. Petrucci Co. has secured a $34 million loan for The Station at Bucks County, a newly completed, 233-unit apartment community in Warminster, a suburb of Philadelphia. Jon Mikula led the HFF team that arranged the 10-year, fixed-rate loan through Webster Bank. In 2011, HFF also arranged a $32 million construction loan for the borrower through Webster Bank. The Station at Bucks County is located at 330 Jacksonville Road and contains 19 buildings. Amenities include a clubhouse, fitness center and pool.