FT. MYERS, FLA. — Coral Gulf IV has sold the 136-unit apartment complex Palm Vista, located in Ft. Myers, to RFH Advisors Palm Vista. The 12 building property features amenities such as a clubhouse, playground, pool and fitness center. Judy Dolan and Steve Hyatt of Fort Lauderdale, Fla.-based Berger Commercial Realty Corp. represented the seller. The buyer was self-represented.
NEWARK, OHIO — Franktown, Colo.-based MIMG XXIII McMillen Woods LLC has acquired McMillen Woods, a multifamily property located at 95 S. Westmoor Ave. in Newark, for $16.4 million. Built in phases from 1976 through 1990, the 391-unit property features two studio units, 38 one-bedroom units, 187 two-bedroom units and 164 three-bedroom units. Mark Rohr and Eric Taylor of Hendricks & Partners' Michigan office represented the seller, Newark-based McMillen Woods LLC, in the transaction.
NEW YORK CITY — Marcus & Millichap has brokered the sale of an eight-unit apartment building located at 474 60th St. in Brooklyn for $1.05 million. A private investor acquired the property at a 6.8 percent cap rate. Bruce Thomsen of Marcus & Millichap's Brooklyn office represented the seller, also a private investor.
DALLAS — The Bascom Group has acquired The Davis Building, a luxury, urban infill mixed-use project. The investment includes a 20-story high-rise building featuring 183 loft-style apartment units, retail space and a 12-level parking garage in downtown Dallas. It was built in 1926 as an office building and converted into luxury apartments in 2003. The property was purchased through a receivership sale with debt financing provided by J.E. Robert Cos., and was 95 percent leased as the close of escrow. Jeffrey Fuller, Han Jang and Paul Miskowicz of The Bascom Group led the transaction. Ryan Epstein of Marcus & Millichap represented both parties.
LANTANA, FLA. — Palm Beach Club sold the 310-unit independent and assisted living community The Carlisle Palm Beach, located in Lantana, for $53 million to AEW Capital Management, who acquired the property on behalf of AEW Senior Housing Investors. Amenities include a cinema room and a card and billiard room. Ryan Maconachy and Chad Lavender of Atlanta-based ARA represented the seller. The buyer was not represented in the transaction.
ORLANDO, FLA. — The 200-unit Vista Verde, a luxury community in Orlando, has been sold. The property, which is currently 94 percent occupied, offers private garages, barrel tile roofs and amenities such as a resort-style swimming pool. Shelton Grande and Luke Wickham of CB Richard Ellis' Central Florida multi-housing group represented the undisclosed seller. The undisclosed buyer was not represented. The acquisition price was not released.
HOMEWOOD, ALA. — The 220-unit Wildforest apartment complex, located in Homewood, has sold for $18.3 million to a local investor group. The 17.8-acre complex is currently 98 percent occupied. Rock Apartment Advisors, a subsidiary of Harbert Realty Services, represented the seller, a private development group. The buyer was not represented.
MORRISVILLE, N.C. — An affiliate of Harbor Group International purchased the 200-unit Madison at Treybrooke Apartments from an affiliate of BPG Properties for $16.2 million. The property, which is currently 97 percent leased, will be renamed Treybooke at the Park Apartments. Amenities include pool, two tennis courts, fitness center, basketball court and more. Brandon Whitesell and Chris Spain of Cushman & Wakefield's Atlanta office were the brokers involved in the transaction.
MANCHESTER, N.H. — Albany, N.Y.-based Dawn Home Management has acquired a Manchester apartment community from Equity Residential for $36 million. Wellington Hill is a 390-unit property located approximately 4 miles east of downtown Manchester. Constructed in 1986, the property comprises garden-style apartment buildings and townhome buildings on a 32.7-acre site. The community contains one- through three-bedroom residences and the average unit size is 1,008 square feet. Property amenities include a community room, a fitness center, an outdoor swimming pool with a sundeck, an indoor lap pool with a hot tub, a sauna, a racquetball court, tennis courts and a playground. The team of Simon Butler, Biria St. John, Michael Byrne and John McLaughlin of Cushman & Wakefield's Capital Markets Group represented the seller and procured the buyer.
TEANECK, N.J. — Marcus & Millichap has brokered the sale of Teaneck Apartments, a 16-unit, garden-style apartment community located on West Englewood Avenue in Teaneck. The property traded for $2.15 million. Greg Babaian of Marcus & Millchap's New Jersey office represented the seller, a local investor. The buyer's name was also not released.