TEMPE, ARIZ. — The Villas, a 137-unit apartment community in Tempe, has sold to RND11, LLC for $5,975,000. The community is located at 1718 S. Jentilly Lane. The seller, LBUBS 2007-C7 South Jentilly Lane, LLC, an entity controlled by LNR Partners, was represented by David Fogler and Steven Nicoluzakis of Cassidy Turley’s Multi-Family Service Group.
Multifamily
BRADENTON, FLA. — The 80-bed Langdon Hall, an assisted living facility located at 1120 33rd Ave. W. in Bradenton, has sold for $4.9 million. The 55,275-square-foot building is 88 percent leased. Kenneth Carriero and Damien Carriero of Colliers International's Clearwater, Fla., office represented the seller, Ohio-based Langdon Hall LLC, in the transaction and procured the buyer, Chicago-based Aviv REIT.
LA VISTA, NEB. — Harrison Heights, a112-unit senior apartment community has opened in LaVista, a suburb of Omaha. Harrison provides independent living with no income restrictions for those age 55 and above. Located at 7544 Gertrude St., the apartments include one- and two-bedroom apartments. The apartments include a community room with kitchen, a lounge with fireplace and community laundry. Wheatfield, N.Y.-based Calamar owns the $10 million property.
ALPHARETTA, GA. — Dayton, Ohio-based The Connor Group has purchased the 344-unit Belmont at Park Bridge, an apartment complex located at 150 Rockberry Ln. in Alpharetta, from Belmont at Park Bridge Inc. for $26.15 million. Amenities include a fitness center, laundry facilities, a pool and tennis courts. The company also owns Addison Place and Ashley Forest, two neighboring properties.
GREENVILLE, N.C. — The 503-bed University Suites, located at 2200 University Suites Dr. in Greenville, has sold for $15.5 million. The property serves Eastern Carolina University. Alan Meetze and David Hudgins of Drucker & Falk's Newport News, Va., office represented University Suites at ECU LLC, the seller, in the transaction. The buyer was 2200 University Suites.
LAKELAND, FLA. — The 236-unit Martin's Landing Apartments, located at 3520 Cleveland Heights Blvd. in Lakeland, has sold on Auction.com for $6.82 million. John Stone of Colliers International's Tampa Bay, Fla., office represented the seller, 3520 Cleveland Heights LLC, in the all-cash transaction. Kevin Kelleher of Franklin Street's Tampa office represented the buyer, Integritas Residential.
HERMANTOWN, MINN. — Dougherty Mortgage LLC has arranged a $3.8 million FHA-insured loan for the refinancing of Green Acres, a 65-unit rental townhome property. Green Acres is located at 5060 Jennifer Circle in Hermantown, a suburb of Duluth. Ned Foster of Dougherty's Minneapolis office secured the 35-year, fixed-rate loan for GMP Living Inc.
METHUEN, MASS. — Beech Street has arranged an $11.2 million Fannie Mae loan for the acquisition of Colonial Village, a 148-unit apartment complex in Methuen. The six-building property was built in 1970, with a club house added in 1978. Michael Edelman of Beech Street's New York office originated the 10-year, fixed-rate loan. The loan has 2.5 years of interest-only payments.
HICKORY, N.C. — Capstone Apartment Partners has arranged the $2.22 million sale of the 97-unit Colonial House Apartments, a garden-style apartment complex located at 818 2nd St. Pl. NE in Hickory. The buyer has plans to renovate the property, including amenity upgrades and interior unit renovations. Brian Ford and Beau McIntosh of Capstone's Charlotte office represented Simaan Brothers, the seller, in the transaction.
CHARLOTTE, N.C. — Grandbridge Real Estate Capital has arranged $21.6 million in first mortgage financing for the 214-unit Morrison at SouthPark, a Class A multifamily property located at 721 Governor Morrison St. in Charlotte. Mike Ortlip of Grandbridge's Charlotte office arranged the acquisition loan through a major insurance company.