CHICAGO — In a joint venture, Chicago-based Fifield Cos. and national developer Wood Partners have broken ground on K2, a 34-story apartment tower, located at 365 N. Halsted St. in Chicago. The apartment tower will include 496 units and 348 parking spaces. McHugh Construction is the general contractor and Pappageorge/Haymes is the architect for the project, which is scheduled for completion in 2013. Residences at K2 will include studio, one-, two- and three-bedroom apartments.
DOVER, DEL. — NorthMarq Capital has arranged $18.9 million in first mortgage financing for Eagle Meadows, a 294-unit multifamily complex, located at 4666 Carolina St. in Dover, Del. Financing was based on a 10-year term with a 30-year amortization schedule. Sam Berns of NorthMarq arranged the financing through the company's affiliate, Amerisphere Multifamily Finance LLC, a Fannie Mae DUS lender.
MANHATTAN — New York-based Massey Knakal Realty Services has completed the sale of a 40-unit apartment building, located at 712 W. 176th St. in Northern Manhattan's Washington Heights neighborhood, for $5.3 million. Robert Shapiro of Massey Knakal represented the seller, Oak Point Management, in the transaction. The buyer was undisclosed.
COLUMBIA, MO. — St. Louis-based Paric is beginning construction on a $50 million addition and renovation at Lenoir Woods continuing care retirement community in Columbia, Mo. The five-year project is planned in phases, and construction includes a new two-story assisted living building, a four-story independent living building with underground parking and a new memory care facility. The senior living community is operated by St. Louis-based Lutheran Senior Services.
NAPLES, FLA. — ARA's Senior Housing Group has arranged the $85 million sale of the 350-unit The Carlisle Naples, an independent and assisted living community located at 6945 Carlisle Ct. in Naples. Ryan Maconachy and Chad Lavender of ARA's Dallas office represented Naples Club, the seller, in the transaction.
FORT MYERS, FLA. — CBRE has negotiated the $7 million sale of the 376-unit Edisto Lake Apartments, located at 10770 Clear Lake Loop in Fort Myers. Jonathan Richards of CBRE's Naples, Fla., office and Thomas Fischer of CBRE's Columbus, Ohio, office represented Edisto Group, the seller, in the transaction. The buyer was Pacifica Cos.
BOSTON— Boston Realty Advisors has arranged the $3.7 million sale of a nine-unit brownstone building, located at 300 Marlborough St. in Boston. Christopher Sower and Jason Weissman of Boston Realty Advisors represented the seller, Marlborough Street Realty Trust. The buyer was undisclosed.
PHOENIX – The 48-unit Continental Apartments in Phoenix has sold to FRI Continental LLC for $1.25 million. The apartment community is located at 1030 N. Third Street. Brian Smuckler and Jeff Seaman of CBRE’s Phoenix office represented both the buyer and the seller, PMCM I LP.
BURLINGTON, MASS. — The Northbridge Co. held a groundbreaking for its 110-unit assisted living and memory care community, located at 50 Network Dr. in Burlington, Mass. Situated on nearly nine acres of undeveloped land, the project will include one-and two-bedroom apartments, a cafe and theater. The development team includes Chelsea, Mass.-based The Architectural Team, Bridgewater, Mass.-based Callahan Construction and Needham, Mass.-based Waypoint Construction Consultants. The community is scheduled to open in the fall of 2012.
AMARILLO — Canyon Long Term Care has plans to build a 120-bed skilled nursing facility in Amarillo. Canyon is working with LTC Properties, the landlord, to develop the 50,000-square-foot facility. The new facility will replace an old healthcare facility in Canyon and will feature multiple dining areas and private rooms with bathrooms and showers. Construction is slated to begin this year and the facility is expected to open in late 2012.
