VENTURA, CALIF. – A 20-unit apartment building in Ventura has sold to an unnamed buyer for $2.7 million. The community is located at 95 South Ann Street. The seller, a private investor, was represented by Greg Kaiser of Marcus & Millichap’s West Los Angeles office.
GREENVILLE, S.C. — A joint venture between Atlanta-based Kaufman Realty Group LLC (KRG); Charlotte, N.C.-based Lat Purser & Associates Inc. (LPA); and Ray Jones, an apartment development veteran also based in Charlotte, will develop The Rhett Street Apartments in downtown Greenville. The mid-rise, luxury apartment complex will include 150 units. The project will begin construction in February 2013 and is being financed by Bank of America and equity from the three joint venture entities and Columbia, S.C.-based Intermark Management Corp., which will manage the property.
ATLANTA — Federal Home Loan Bank of Atlanta (FHLBank Atlanta) has awarded $13.6 million to assist in the funding of 43 affordable housing projects in 10 states and Washington, D.C., as part of its 2012 Affordable Housing Program (AHP). Local for-profit and not-for-profit developers, in partnership with FHLBank Atlanta member institutions, will use $12 million of the AHP funds to assist in the acquisition, new construction, rehabilitation or preservation of 1,993 affordable rental and owned housing units in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia and Washington, D.C.
ST. PAUL, MINN. — Oak Grove Capital has arranged a $23 million HUD 221(d)(4) loan for the construction of West Side Flat Apartments in St. Paul. The property will contain 178 units on the corner of Fillmore Avenue and Wabash Street.
NEW YORK CITY — Massey Knakal has arranged the $7.7 million sale of 246 East 53rd St. in Midtown East in New York City. The 12,915-square-foot building contains 21 apartment buildings and two retail stores on the ground floor, which are fully leased. Of the residential units, 17 are market rate units, two are rent controlled and the remaining two are rent stabilized. Bob Knakal and Clint Olsen of Massey Knakal represented both parties in the transaction.
HOUSTON — ARA has arranged the sale of the 380-unit AMLI Towne Square, an apartment community located half a mile east of downtown Houston. The property is 98 percent occupied. Matthew Rotan, David Oelfke, David Mitchell and David Wylie represented the seller, Chicago-based AMLI, in the transaction. The buyer was Colorado-based Baron Properties.
VENTURA, CALIF. – A 20-unit apartment building in Ventura has sold to an unnamed buyer for $2.7 million. The community is located at 95 South Ann Street. The seller, a private investor, was represented by Greg Kaiser of Marcus & Millichap’s West Los Angeles office.
SAN FRANCISCO – A six-unit apartment building in San Francisco has sold to an unnamed buyer for $2.1 million. It is located at 164 23rd Ave. in the city’s Lake Street District. Sanford G. Skeie and John Antonini of Marcus & Millichap’s San Francisco office represented the seller, a private investor, in this transaction.
MIAMI — The 207-unit Park Towers, a multifamily property at 777 N.W. 155th Lane in Miami, has traded for $11.6 million. The 10-story, 198,335-square-foot apartment building sits on 5.86 acres and was built in 1973. Tal Frydman, Daniel Cunningham and Derek Gibbs of Marcus & Millichap’s Fort Lauderdale, Fla., office represented the seller, a Scottsdale, Ariz.-based private firm. A Miami-based private investor purchased the multifamily property.
ABINGTON, MASS. — Greystar has acquired the 180-unit Abington Woods Apartment Complex in Abington for $37 million. The seller was The Heritage Cos. The 16-building complex, located at 212 Bedford St., was originally developed as condominiums in 2006. The property features an indoor pool, fitness center, business center and community room. Deneberg Realty Advisors represented both parties in the transaction.