SEATTLE – The 27-unit Eagle Court apartments in Seattle has sold to a private investor for $3.6 million. The community is located at 2121 East Jefferson Street. The buyer was represented by Daniel Chan and Timothy McKay of Marcus & Millichap’s Seattle office.
SAN DIEGO – An 18-unit apartment building located at 4626 Bancroft Street in San Diego has sold to Blue Corner Capital LLC for $2.2 million. The community resides within the Normal Heights neighborhood. Blue Corner was represented by Rita Lancaster-Hannah of Colliers International.The seller, Casa Del Rio LLC, was represented by William R. Anderson of ACRE.
OCOEE, FLA. — Unicorp National Developments Inc. has broken ground on the $18 million Casa Mirella Apartments, a 216-unit multifamily property located at Maguire and Roberson roads in Ocoee. The apartment complex is slated for completion in December 2013 and amenities will include seven garage buildings, a clubhouse and swimming pool. Altamonte Springs, Fla.-based Roger B. Kennedy Inc. is the construction manager and Slocum Platts Architects P.A., Winter Park is the project architect.
OXFORD, OHIO — Morris, Smith & Feyh Inc. has arranged $2.8 million in first mortgage permanent financing for a 76-unit apartment complex in Oxford. Jeffrey Morris of Morris, Smith & Feyh negotiate the 10-year loan, which will amortize over 25 years, through a life insurance company. The borrower is Miller-Valentine Group.
NEW YORK CITY — Beijing-based developer, Xinyuan Real Estate, has acquired a full-block development site at 421 Kent Ave. in Williamsburg for $54 million. The deal represents one of the largest development site transactions in all of the outer boroughs this year. The site is two blocks south of the Williamsburg Bridge and accommodates 400,000 square feet of buildable residential development. The new owner has rights to build 216 condominium units, and plans approved for the site include the construction of 12 individual buildings.
GROTON, CONN. — Fantini & Gorga has arranged $20 million in permanent financing on Country Glen Apartments, a 324-unit multifamily property in Groton. The property is located at 600 Meridian St. and was constructed in 1989 by the current owner. Amenities include a swimming pool, spa fitness center and saunas. Eastern Mortgage Capital financed the 35-year loan.
NEW YORK CITY — Springhouse Partners has acquired 105 Grand Ave., a 36-unit apartment building in Brooklyn's Clinton Hill neighborhood, for $16 million. The seven-story elevator building is located across the street from the Pratt Institute, and amenities include a gym and a rooftop deck with views of Manhattan. Peter Von Der Ahe, Joe Koicim and Scott Edelstein of Marcus & Millichap represented the seller, a Brooklyn-based investment group. They also represented the buyer.
EULESS — ARA has arranged the sale of The Stoneleigh at Bear Creek, a 436-unit Class A multifamily property located in Euless. Brian O'Boyle, Sr., Brian O'Boyle, Jr., and Brian Murphy of ARA's Dallas office represented the seller in the transaction. The property is 96 percent occupied.
PORTLAND, ORE. – The 38-unit Elysian Gardens apartments in Portland has sold to Eberle-Sandalwood LLC for $3.9 million. It is located at 2651 NW Upshur Street. Eberle-Sandalwood was represented by Tyler Johnson of Marcus & Millichap’s Portland office.
SEATTLE – The 27-unit Eagle Court apartments in Seattle has sold to a private investor for $3.6 million. The community is located at 2121 East Jefferson Street. The buyer was represented by Daniel Chan and Timothy McKay of Marcus & Millichap’s Seattle office.