BOSTON — 162 Prince LLC has purchased a 4-unit apartment building in Boston's North End neighborhood for $1.5 million. The property is located at 162 Prince St. and was recently renovated. Gina Barroso and Robert Tito Jr. of NAI Hunneman represented the seller, Prince Street Realty Trust. They also secured the buyer.
SANTA ANA, CALIF. — The 84-unit Tustin View apartments in Santa Ana has sold for $14.4 million. The property is located at 2002 and 2010 Ponderosa Street and was built in 1968. The seller was Peak 1031 Exchange, Inc, a California corporation, which acted as a qualified intermediary for JHPark Villa, LLC. The transaction was negotiated by Peter M. Hauser, Robin D. Ossenbeck and Steven C. Brombal of Hendricks & Partners.
VISTA, CALIF. – The 45-unit Newport Vista Apartments in Vista have sold to Tesoro Del Sol I for $5.9 million. The 40,500-square-foot property is located at 845 Newport Terrace Drive. Tesoro was represented by Ethan L. Smith of Real Estate Services. The sellers, Phyllis Newman Foster & William Foster, et al., were represented by Dennis Leslie and Dan Zendejas of ACI.
GLENDALE, CALIF. – A 40-unit apartment property located at 401-403 W. Glenoaks Blvd. in Glendale has sold to Meridian-Kenwood, LLC for $4,462,000. The property was fully occupied at the time of closing. Meridian-Kenwood was represented by Han Widjaja Chen of Colliers International. The seller, Arcadia-based 727 Del Coronado, LLC, was represented by Judy Stevens of Prudential California.
MIAMI — Miami-based Adler Group and Atlanta-based EDI Group have plans to develop two, 20-story luxury apartment towers, located at 7950 NE Bayshore Ct. in Miami. Miami-based Apollo Bank provided acquisition financing for the purchase of the land, which is the previous home of MIke Gordon's Seafood Restaurant. Features will include 13 boat slips zoned for development on Biscayne Bay and a new neighborhood park that will be located directly across 79th Street from the apartment complex. Adler and ECI will dedicate the park, which will be owned by the City of Miami. Groundbreaking is scheduled for later this year and is expected to last 24 months.
LISLE, ILL. — Opus Development Corp. will break ground on a new luxury apartment complex in Lisle this month named Arboretum Landmark. The four-story building will feature 310 units and 500 parking spaces. Amenities will include an outdoor heated swimming pool, communal gas grills, fitness center and a patio area. The project is slated for occupancy in September 2013. Opus Design Build will serve as the general contractor for the project.
NEW YORK CITY — Marcus & Millichap Capital Corp. has arranged a $7.3 million loan to refinance a 52-unit affordable housing project in Brooklyn. The mid-rise apartment building was built in 1998. Anita Pins and Gerald Kray of the firm's Manhattan office arranged the 10-year loan, which has a 30-year amortization schedule. The 5-year fixed-rate loan carries a 3.3 percent interest rate.
HOUSTON — MIG Real Estate has acquired the 372-unit Wynhaven at Willowbrook, a 436,914-square-foot multifamily property located at 9611 Grant Road in Houston. The property is 96 percent occupied and features walk-in closets, personal laundry rooms, dining room bay windows and a ceramic tile tub. Amenities for the property include a resort-style swimming pool, sun deck, WiFi, covered parking and picnic areas. MIG Real Estate was self-represented in the transaction, and Alliance Residential Co. will manage the property.
SAN ANTONIO — Hendricks & Partners has brokered the sale of the 124-unit Autumn Brook, a multifamily property located at 11726 W. Ave. in San Antonio. Mike Miller, Chris Ross and Will Caruth of Hendricks & Partners' San Antonio office represented the seller, an Austin-based investor, in the transaction. The buyer was an out-of-state investor.
AURORA, COLO. — The Bahamas Apartments, a 100-unit apartment community in Aurora, has sold to Fitzsimons Place, LLC for $3 million. The property is located at 1568 Nome Street. The sale was brokered by Brice Head of Pinnacle Real Estate Advisors.