NEW YORK CITY — Construction is complete for VillageCare Rehabilitation and Nursing Center, a 65,000-square-foot, 105-bed skilled nursing facility located at 214 W. Houston St. in New York City. Developed by the nonprofit Village Care, the facility features a physical rehabilitation room, a meditation room overlooking a landscaped courtyard, a rooftop deck, and dining and common areas on each floor. The project has applied for LEED certification. Levien & Co. was the construction manager and Perkins Eastman was the project architect.
DAYTONA BEACH, FLA. — An undisclosed Florida condo developer purchased the remaining 414 luxury condo units at Marina Grande on the Halifax in Daytona Beach for $60 million. The twin 25-story buildings contain a total of 486 condominiums, 72 of which were sold in 2007. The seller, Miami-based Holly Hill Associates, which is an entity controlled by N.Y.-based Cerberus Capital Management, was represented by Todd Cohen of Orlando-based Cohen Estate Capital, LLC.
ST. PETERSBURG, FLA. —Marcus & Millichap Real Estate Investment Services sold Welk Arms, a 41-unit apartment property to an undisclosed limited liability company for $1.05 million. Welk Arms is located at 4701 68th St. North, St. Petersburg, and contains six single-story buildings on approximately 2.5 acres. The listing was marketed on behalf of the seller, a California financial institution, by Michael P. Regan, Francesco P. Carriera and Nicholas Meoli of Marcus & Millichap's Tampa office.
NEW YORK CITY — Beech Street Capital has arranged a $74 million Fannie Mae loan to refinance a New York City multifamily portfolio. The loan carries a 10-year term with 10 years of interest-only payments and a fixed interest rate. The portfolio consists of 615 units in 13 mid-rise buildings located throughout Manhattan that are owned by the Haruvi family. Moshe Majeski and Chaim Tessler of Meridian Capital Group originated the financing.
GRANVILLE, W.V. — Asset Plus Companies and Diamond Realty Investments have broken ground for the development of The Domain at Town Centre, a student housing development at West Virginia University. Located in Granville, the 912-bed community will be completed for occupancy by fall 2012. The project will be leased and managed by Asset Campus Housing, the student housing affiliate of Asset Plus Cos. The property will feature one-, two-, three- and four-bedroom units, a resort-style swimming pool, an outdoor barbeque kitchen, sand volleyball courts, basketball courts, an exercise facility, a clubhouse, tanning beds, a game room. reserved covered parking, an Internet cafe and a business center with private study rooms.
AUSTIN — Joe James and Kent Myers of Marcus & Millichap have represented both parties in the sale of the 90-unit Heritage Plaza Apartments in Austin. The apartment complex sits on a 3.8-acre site at 9121 N. Plaza in Austin. A California-based corporation sold the property to a local private investor.
FORT COLLINS, COLO. — NorthMarq Capital has arranged a $5.85 million loan for the 47-unit Flats at the Oval, a 56,899-square-foot, four-story student apartment property located at 306 West Laurel Road in Fort Collins. Developed and constructed in 2010 by local firm, Brinkman Partners, the building includes 4,791 square feet of commercial space in two suites. NorthMarq’s Steve Koeneke and Chris Williams arranged the financing through a life company correspondent.
NAPLES, FLA. — Colliers International has brokered the sales of two multifamily properties in Naples totaling $4.5 million. In the first transaction, GIGA Apartments LLC purchased River Park Apartments, located at 330 11th St., for $2.2 million. Built in 1960, the nine-building complex offers 104 units with a total of 56,435 rentable square feet. In the second deal, Lo Exclusive LLC took Gordon River Apartments, which is located at 1400 N. 5th Ave., for $2.3 million. The 12-building property, which was built in 1969, offers 92 units with a total of 70,369 rentable square feet. Jim Garinger of Colliers International Southwest Florida, along with John Stone and Jason Stanton of Colliers International Tampa Bay Florida, facilitated the sales.
AVON, IND. — Thiemann Real Estate has acquired Washington Quarter Apartments in Avon. The 256-unit, Class A multifamily property sold for $18 million. Constructed in 1999 and currently 95 percent occupied, the property features one-, two- and three-bedroom units, a clubhouse with a fitness room, billiards room and a swimming pool, a car wash station, a sand volleyball court, a basketball court and a picnic area. Kevin MacKenzie and Jon Everson of Holliday Fenoglio Fowler (HFF) represented the buyer; John Sebree and David Keller, also of HFF, represented the seller, Crossmann Properties LLC, in the transaction.
WOODSTOCK, GA. — The NorSouth Companies has broken ground for the development of Hearthside at Towne Lake, an affordable senior living community in Woodstock. The $15.3 million community, which is restricted to residents age 62 and older, will offer 100 apartment units, private gardens, a residents' lounge and media room, a fitness center, a sunroom and a bocce ball court. Additionally, the one- and two-bedroom units will feature kitchens with pantries, ENERGY STAR appliances, microwaves, washer/dryer hookups and walk-in closets. The senior living community will serve as the centerpiece for Madison Pointe at Towne Lake, a mixed-use development in Woodstock.