CHEVERLY & FORESTVILLE, MD. — Jason Smith of NorthMarq Capital's Bethesda, Md., office has arranged a $58.1 million floating-rate loan through Natixis Real Estate Capital on behalf of a joint venture between Foulger-Pratt Cos. and DLJ Real Estate Capital Partners. The joint venture will use the funds for the acquisition and repositioning of a 1,107-unit apartment portfolio containing four properties. The properties are the 366-unit Cheverly Terrace and 190-unit Hanson Arms Apartments, located in Cheverly, and the 404-unit Pennbrooke Terrace and the 147-unit Valleybrook Apartments, located in Forestville.
Multifamily
ALEXANDRIA, VA. — The Carlyle Group and AION Partners have selected Bainbridge Cos. to renovate and manage the 570-unit CITYSIDE Huntington Metro, located at 6034 Richmond Hwy. in Alexandria. The $9.5 million renovation will include upgraded amenities, landscaping, interiors and exteriors.
BOYNTON BEACH, FLA. — Marcus & Millichap has sold Easco Apartments, a portfolio of two apartment buildings, totaling 64 units, for $2.4 million. Brandon Rex and Tal Frydman of the Fort Lauderdale office represented the seller, a St. Petersburg, Fla.-based private investor and secured the buyer, a Delray Beach, Fla.-based limited liability company.
CHAMPAIGN, ILL. — Arbor Commercial Funding has secured a $33.62 million Fannie Mae DUS loan for the refinancing of 309 East Green, a 416-unit student housing property located near the campus of the University of Illinois in Champaign. The loan carries a 10-year term and a 30-year amortization schedule. Patrick McNulty of Arbor's Chicago office arranged the loan on behalf of the undisclosed borrower.
NEW HOPE, MINN. — Minneapolis-based Towle Financial Services has arranged $4.2 million in permanent financing for Chardon Court Apartments, a 129-unit multifamily community located in New Hope. The funds will be used by the undisclosed borrower to pay off the bond-financed first mortgage as well as make capital improvements. The non-recourse loan carries a 10-year term and a 5.6 percent fixed interest rate. Peter Austin of Towle originated the financing.
NEW YORK CITY — A 4,762-square-foot, 22-unit retail condominium, located at 456 West 19th St. and Tenth Avenue in New York City, has been sold for $6.55 million. Ronald Solarz, Eric Anton and Eric Weinberg of Eastern Consolidated represented the seller and procured the buyer, a New York-based private company.
NEWARK & IRVINGTON, N.J. — Marcus & Millichap has negotiated the sale of three apartment buildings in New Jersey in two separate sales that totaled $1.14 million. Nat Gambuzza and Christopher Rizzolo of the New Jersey office had the exclusive listing to market two apartment buildings in Newark, totaling 18 units, on behalf of the seller, a Midwest-based financial institution. Additionally, Rizzolo secured the buyer, a local investor. Rizzolo also represented both the buyer and the seller for a 19-unit building in Irvington.
ROUND ROCK — The Wyoming Springs Assisted Living and Memory Care facility, located at 7230 Wyoming Springs Dr. in Round Rock, has broken ground. The 90,000-square-foot senior community will feature 102 assisted living units, 32 of which will be dedicated to memory care residents. Amenities will include stainless steel refrigerators and microwaves, walk-in closets and emergency call systems in each unit. Austin-based TRISUN Healthcare and Prevarian Senior Living are developing the property.
RANDALLSTOWN, MD. — The 105-unit The Greens at Liberty Road Senior Apartments in Randallstown is now open. Enterprise Homes developed the $15.6 million complex, which meets the requirements of the Enterprise Green Communities Criteria through its reflective roof, HVAC systems, low-VOC paint, “green” label carpet, water-conserving plumbing fixtures and more. Amenities include a multi-purpose room, fitness center, media center, sewing room, laundry facilities and a computer room. The project is managed by Habitat America.
IOWA AND NEBRASKA — Mission Viejo, Calif.-based The Ensign Group has signed a purchase agreement to acquire a nine-property senior housing portfolio from Sioux City, Iowa-based Careage Management for an undisclosed amount. The facilities are located in the Iowa cities of Cherokee, Clarion, Fort Dodge, Hawarden, and West Bend as well as the Nebraska cities of Beatrice, Falls City, Randolph, and Wayne. The portfolio comprises 549 skilled nursing beds and 72 assisted living units. The deal also includes Ensign's acquisition of Careage Home Care, a home health agency located in Cherokee. The deal is expected to close in July. Ensign primarily owns healthcare properties in the West; this deal marks its expansion into Iowa and Nebraska.