GREENBELT, MD. — Walker & Dunlop provided a $31.84 million loan to an affiliate of Harbor Group International for the acquisition of Hanover Apartments in Greenbelt. Built in 1966, the property is comprised of nine residential buildings offering one-, two- and three-bedroom units, and a clubhouse. Additional amenities include a business center, a children's playground, a fitness center, a swimming pool, a laundry facility and a picnic and barbeque area. The loan was structured with a 10-year term with 2 years interest only and a 30-year amortization schedule. Stephen Farnsworth of Walker & Dunlop originated the loan and led the firm's team.
WEST PALM BEACH, FLA. — CASA Partners IV, a value-add apartment fund managed by Henderson Global Investors, has acquired Village Place in West Palm Beach. Built in 1986, the 202-unit property offers one-, two- and three-bedroom units, a resort-style swimming pool, a clubhouse and an amenity package. CB Richard Ellis represented the seller, Invesco Real Estate, in the transaction. Terms of the sale were not released.
INDIANAPOLIS — North Carolina-based Greystone Bank has completed the disposition of Presidential Estates Apartments, a 255-unit multifamily property located in Indianapolis. Greenwood, Ind.-based EMK Property Investors acquired the property, which was listed for $6.75 million, for an undisclosed price. Tikijian Associates represented the buyer and the seller in the transaction.
ROCHESTER, MINN. — Daniel Trebil of NorthMarq Capital's Minneapolis Regional office has arranged a $17.2 million first mortgage loan for Bouquet Apartment Portfolio. The 392-unit portfolio is comprised of four multifamily properties located in Rochester. Financing was provided by PPM Finance.
NEW YORK CITY — Massey Knakal Realty Services has completed the sale of a four-story apartment building located at 306 W. 22nd St. in Manhattan's Chelsea neighborhood for $3.45 million. The building contains seven studio units and five one-bedroom units. It was formerly conjoined with the adjacent Hotel Allerton but was renovated to be a separate building. Massey Knakal's James Nelson and Brock Emmetsberger arranged the deal between the two undisclosed parties.
WICHITA FALLS — Santa Fe Village, a 61-unit apartment community located at 2006 Santa Fe St. in Wichita Falls, has been sold to a private investor in an all-cash transaction. Built in 1972, the multifamily property consists of five two-story buildings on a 1.44-acre lot that house studio, efficiency, one-bedroom, two-bedroom and three-bedroom units. A California-based family trust, represented by Boyan Radic of Marcus & Millichap's Fort Worth office, sold the property. Peter Flis of Marcus & Millichap's Sacramento, Calif., office represented the private investor, who plans to upgrade the property's exterior appearance.
DESOTO — South Point Apartments, located at 1021 Pecan Crossing Dr. in DeSoto, has sold to Austin-based South Point Partners of Texas. Constructed in 1985, the multifamily property consists of 32 studio, 72 one-bedroom and 24 two-bedroom units. LNR Texas Partners, a Texas limited liability company, sold the property and was represented by Peter Hartnett of Hendricks & Partners Dallas office.
MEDIA, PA. — Marcus & Millichap has brokered the short sale of Media Townhomes, a 12-unit multifamily community in Media. The property is located at 310-320 S. Olive St. It traded for $1.39 million. Corey Lonberger, Ken Wellar and Charlie Classen of Marcus & Millichap's Philadelphia office represented the seller and the buyer, both private investors.
NEW YORK CITY — Helios Capital has arranged the acquisition of a non-performing loan for a 30-unit multifamily property located in the Bronx. The loan carries an unpaid balance of approximately $1.4 million. The parties involved in the off-market deal were not released.
DALLAS — A California-based family trust has sold Calais Slopes & Eastridge Condominiums, a 61-unit multifamily property on Eastridge Drive in Dallas, to Building Portfolio Investments V, LLC, a Colorado limited liability corporation. Mark Porterfield of Henry S. Miller Brokerage's Dallas-Fort Worth Multifamily Investments Division represented the buyer and arranged financing through an eight-month assumption program with Berkadia Commercial Mortgage.