AURORA, COLO. — The Glenview Apartments, a 48-unit apartment community in Aurora, has sold to Elesyah, LLC for $1.75 million. The property is located at 16300 East Colfax. It was 98 percent occupied at the time of sale. Brice W. Head of Pinnacle Real Estate Advisors represented both the buyer and the seller, Glenview, LLC, in this all-cash transaction.
CARBARRO, N.C. —Fairfield Autumn Woods LLC has sold the 236-unit Autumn Woods Apartments, located at 222 Old Fayetteville Road in Carbarro for $26.25 million. Blake Oakland, Dean Smith, Sean Wood and John Heimburger of ARA’s Charlotte, N.C., office represented the seller in the transaction. The buyer was Centerville, Ohio-based The Connor Group. The property is 94 percent leased.
ORLANDO, FLA. — Aragon Holdings has purchased the 373-unit Abaco Key Apartment Homes, a Class A apartment complex located adjacent to the Walt Disney World Resort in Orlando. The property is 95 percent leased, and includes a fitness center, basketball and tennis courts, a pool with cabanas and sundeck, media and game room, outdoor kitchen with tables and a grill, business center and dog park. The Aragon Multi-Family Cash Flow Fund provided equity for the purchase.
MELROSE, MASS. — NAI Hunneman has arranged the $4.55 million sale of 199 W. Wyoming Ave., a 36-unit apartment building in Melrose. The building is fully occupied and includes a mix of studio, one- and two-bedroom units. Carl Christie and Dan McGee of NAI Hunneman represented the seller, 119 West Wyoming Avenue LLC, in the transaction. They also procured the buyer.
HOOKSETT, N.H. — SMC Management Corp. has purchased a 27-acre development site in Hooksett, that is fully permitted for 204 units. The site is named University Heights and is part of a 382-acre, mixed-use development that includes single-family housing, condominiums and commercial space. University Heights is located less than 6 miles north of Manchester, N.H. Terence Scott of ARA's New England office represented the seller, Green View Management, in the transaction.
PORT ARTHUR — Grandbridge Real Estate Capital has closed $23.5 million in first mortgage financing for the 372-unit Willow Lakes Apartments, a Class A property located in Port Arthur. Greg Young of Grandbridge's Houston office arranged the 5-year loan with a 20-year amortization schedule through American Real Estate Capital.
MESA, ARIZ. – A 336-unit Mesa apartment building has received a $7-million loan. The loan carries a three-year term with the first 18 months being interest only. It was arranged by Neal Churney of Johnson Capital and provided by a regional bank. The borrower recently acquired the garden-style apartment.
GREENSBORO, N.C. — CDI Properties has sold the 56-unit Grentton Place Apartments, located at 4107 Yanceyville St. in Greensboro, for $3.17 million. Austin Green of Capstone Apartment Partner's Charlotte office represented the seller in the transaction. The buyer was a Chicago-based private investor.
NORTH MIAMI BEACH, FLA. — Continental Real Estate Cos. (CREC) has arranged the sale of the 314-unit Star Creek Apartments, located at 361 NE 191st St. in North Miami Beach. The property is 94 percent leased. Amenities include two resort-style pools and a Jacuzzi. Peter Mekras of CREC represented the seller, a Miami-based private owner and operator, in the transaction. The property was purchased in a 1031 exchange with a first mortgage loan from City National Bank.
HILLSIDE, ILL. — Marcus & Millichap has arranged the $3.4 million sale of Hillside Apartments, a 71-unit property at 600 N. Wolf Rd. in Hillside. The property contains three nine-unit buildings; two, 10-unit buildings; and two, 12-unit buildings. Jim Walsh of Marcus & Millichap's Chicago office represented the seller, a private investor. James Clough, also of Marcus & Millichap's Chicago office, represented the buyer, a limited liability company.