DALLAS — NorthMarq Capital has arranged a $21.13 million construction/permanent loan and $10.24 million in joint venture financing for the 192-unit 3003 Carlisle Apartments, located in Dallas' Uptown district. William Jackson of NorthMarq's Dallas office arranged the loans through a regional commercial bank and a correspondent life insurance company.
TAMPA, FLA. — Marcus & Millichap has arranged the $1.27 million sale of the 63-unit Palm Breeze Apartments, a multifamily property located at 8014 Tommy Court in Tampa. Amenities include a laundry facility, stackable washer and dryer connections and ample parking. Michael Regan and Francesco Carriera of Marcus & Millichap's Tampa office represented both parties in the transaction.
CLERMONT, FLA. — Beech Street Capital has arranged a $21.25 million Fannie Mae conventional loan for acquisition of the 276-unit Vista at Lost Lake, a Class A apartment complex located in Clermont. Jacob Katz of Meridian Capital Group originated the seven-year, fixed-rate loan with two years of interest-only payments and a 30-year amortization schedule.
TALLAHASSEE, FLA. — Capital Advisors has secured $17.67 million in construction financing for the 402-bed Catalyst Student Apartments, a student housing community located at Madison and Gay streets in Tallahassee, three blocks from the Florida State University campus. Philip Rachels of Capital Advisors arranged the three-year, interest-only loan on behalf of the borrower, an affiliate of Chance Partners, through Community and Southern Bank.
WILMINGTON, MASS. — EA Fish Development has secured $22 million in financing to build Metro at Wilmington Station, a 108-unit apartment development in Wilmington. Tremont Realty Capital arranged the loan that was funded, in part, by an institutional equity investor and a local bank. The combination of debt and equity covered 98 percent of the total development costs.
NEW YORK CITY — Bergen Estates has sold 874 Bergen St., a 4,400-square-foot apartment building in Brooklyn, for $1 million. The property was built in 1930 and consists of eight, two-bedroom apartments. Shlomo Antebi and Joseph Landau of GFI Realty Services represented the seller in the transaction. Antebi also represented the buyer, a local investor.
DENVER – A 40-unit apartment complex next to the University of Denver campus has sold to DU Intrados, LLC for $3.25 million. The community is located at 1961-1967 S. Josephine Street. Kevin Calame and Matt Lewallen of Pinnacle Real Estate Advisors, LLC represented both the buyer and the seller, Larry Kane, in this transaction.
RIVERVIEW, FLA. — Alliant Capital has arranged $14.5 million in refinancing for the 204-unit Park at Kensington Apartments, a garden-style complex located in Riverview. The 10-year, fixed-rate loan has a 30-year amortization schedule.
WEST CHESTER, PA. — Cornerstone Communities has purchased The Greentree Building in West Chester from Victor Abdala and Tony Stancato for $9.8 million. The 64-unit apartment building at the corner of North High and East Gay streets includes 17,500 square feet of street-level retail. The new owners plan to upgrade the apartment units and common areas. Mark Thomson, Zachary Pierce, Matthew Gorman and Michael Shover of Marcus & Millichap represented both parties in the transaction.
DALLAS — Transwestern has brokered the sale of the 90-unit Park Towne Villas, located at 7117 Holly Hill Drive in Dallas. Taylor Snoddy, Mark Freeman and Philip Wiegand of Transwestern's Dallas office represented the seller, a California-based private client, in the transaction. The buyer was JSK Business Service.