TULSA, OKLA. — Dallas-based Triad Senior Living, Inc. and its partners have purchased the University Village Retirement Community in Tulsa. The community sits on a 38-acre campus at 8555 S. Lewis Ave. Terms of the deal involved $5.5 million in cash. The ownership group, including investor Keith Roberts and University Village Trust, plans to spend at least $2 million in renovations to the facility.
ORLANDO, FLA. — Ann Arbor, Mich.-based McKinley has negotiated the acquisition of the 304-unit Oakwood Apartment Homes, located at 4708 Olive Branch Rd. in Orlando for $23.35 million. McKinley represented the buyer, Karlin Real Estate. Shelton Granade of CB Richard Ellis' Orlando office represented the seller, ConAm.
LEXINGTON, KY. — Red Mortgage Capital has closed and underwrote $6.79 million of non-recourse financing for two student housing properties owned by Campus Rental Properties. The complexes, which are located in central Lexington adjacent to the University of Kentucky, are the 96-unit University Village, Phase I and the 24-unit Woodland Village. Red Mortgage Capital, pursuant to Fannie Mae’s Dedicated Student Housing Program, underwrote the 10-year loan.
BLAIR, NEB. — Omaha, Neb.-based The Lund Co. has negotiated the $3.63 million sale of the 72-unit Deerfield Apartments, located at 1274 Deerfield Blvd. in Blair, to AV Legacy Holdings. Rich Secor of The Lund Co. represented the seller, Blair Apartments, LLC, in the transaction.
EVANSTON, ILL. — Chicago-based Essex Realty Group has arranged the $1.12 million sale of a 13-unit, walk-up apartment building, located on the corner of Monroe Street and Sherman Avenue in Evanston. Doug Imber and Kate Varde of Essex represented the undisclosed seller and Jim Darrow, also of Essex, represented the undisclosed buyer.
NEW BRITAIN, CONN. — Candlewood Apartments, a 40-unit multifamily complex at 123 Clinic Dr. in New Britain has been sold for $1.9 million. Candlewood is part of a commercial portfolio consisting of almost 700 residential units and approximately 110,000 square feet of office and industrial space. The portfolio had recently become lender owned. Rick Chozick and Steve Pappas of Chozick Realty, Inc. arranged the sale on behalf of the lender, Grove Street Realty Holdings, and procured the buyer, Cedarwood LLC.
PHOENIX — CB Richard Ellis has sold the 360-unit Mountain Park Ranch in Phoenix to CREF Windsor LLC for an undisclosed sum. This apartment community resides within the 2,500-acre, master-planned Mountain Park Ranch community. Built in 1996 and formerly known as the Windsor at Mountain Park Ranch, the property was 95 percent occupied at the time of sale. CBRE’s Tyler Anderson and Sean Cunningham represented the seller, Windsor at the Preserve LLC.
MEMPHIS, TENN. — Marcus & Millichap has negotiated the $8.5 million sale of the 217-unit Brentwood Place Apartments, located at 1835 Sycamore View Rd. in Memphis. Patrick Jordan of Marcus & Millichap's Memphis office represented both parties in the transaction, Memphis-based Grant Investments, the seller, and the buyer, Slidell, La.-based Southern Breeze, LLC.
CHICAGO — Chicago-based Essex Realty Group has negotiated the $4.1 million sale of 26 residential units in the 107-unit Eastgate Village, a master-planned community located at 306 E. 25th St. in Chicago. The units contained 10 condominiums and 16 townhomes. Jim Darrow and Jordan Gottlieb of Essex represented the seller, a regional bank, and Matt Welke, also of Essex, represented the buyer, a private investor.
NEW LONDON, CONN. — Courtview Apartments LLC has purchased Courtview Square Apartments, a 96-unit apartment complex set on 2.3 acres in New London, for $4.4 million. The units are one-bedroom, 640-square-foot garden-style apartments. Tom Boyle and Ryan Perkoski of Chozick Realty represented the seller, Broadway Innwood LLC.