VAN NUYS, CALIF. — Franklin Management has acquired a 53-unit apartment community, which is located at 6125 Fulton Ave. in Van Nuys, for $5.2 million or $98,113 per unit. The property features 22 studio/one-bath units, 31 one-bedroom/one-bath units, a fitness center, a clubhouse, an on-site laundry facility and a swimming pool. Rick Raymundo of Marcus & Millichap represented the buyer; Chris Malcolm of Coldwell Banker represented the seller, 6125 Fulton Apartments LLC, in the transaction.
SEATTLE — An undisclosed private investor has purchased 6000 Northwest, a 11-unit multifamily property in Seattle. Located at 6000 24th Ave. Northwest, the property sold for $2.7 million. Built in 1967, the asset features four one-bedroom/one-bath plus den units, four two-bedroom/one-bath units, two two-bedroom/one bath plus den units and one three-bedroom/two-and-a-half bath plus den units. Daniel Swanson and Blake Rodgers of Marcus & Millichap’s Seattle office represented the undisclosed seller; Swanson also represented the buyer in the transaction.
HAMILTON TOWNSHIP, N.J. — Gebroe-Hammer Associates (GHA) has arranged the sale of Miry Run, a 144-unit multifamily community located at 145 Brookwood Rd. in Hamilton Township, for $11.12 million. The garden-style apartment community comprises 108 one-bedroom and 36 two-bedroom units; it was 98 percent occupied at the time of closing. GHA’s Joseph Brecher and Joel Schwartz represented the seller, Tower Management, and procured the buyer, an undisclosed investor.
KERRVILLE, TEXAS — The San Antonio office of Grubb & Ellis has negotiated the sale of Singing Wind Apartments, an 80-unit multifamily community located at 2105 Singing Wind Dr. in Kerrville. The garden-style property comprises 10 two-story buildings. Occupancy was 94 percent at the time of closing. Grubb & Ellis’ Jason Brumm, Jerry Williams and Maggie Nigro represented the seller, Fredericksburg, Texas-based Wolf Mountain Foundation. The undisclosed buyer was represented by Amber Lenz of First Texan Realty.
ARIZONA, COLORADO AND CALIFORNIA — Mike Riccio, Christine Kubas, Rocco Mandala, Eric Tupler, Mike Easter and John Nelson of CB Richard Ellis Capital Markets have secured a total of $92.3 million to refinance a portfolio of four apartment communities. The properties include two sister properties in Scottsdale, Ariz., totaling 736 one-, two- and three-bedroom units; a 472-unit property located 10 miles from downtown Denver; and a 216-unit property located in American Canyon, Calif. The borrower was not disclosed.
SHERMAN OAKS, CALIF. — Jeffrey Louks and Matthew Ziegler of Marcus & Millichap’s Encino, Calif., office represented the seller and the buyer in the transaction of 15040 Moorpark Street in Sherman Oaks. The 21-unit multifamily property traded hands for $3.9 million. Neither the seller nor the buyer were disclosed.
FLORIDA — Palm Beach Gardens, Fla.-based Ram has acquired 10 distressed senior mortgages worth $57 million from undisclosed lending sources. The 10 multifamily and commercial properties are located throughout Southern and Central Florida. Ram acquired the notes through its $175 million equity fund, Ram Realty Partners II.
ANTIOCH, TENN. — Rosemont, Ill.-based McShane Construction Co. has completed the 336-unit Springs at Mountain View apartment complex. The project was developed by Continental Properties Co. at 5000 Mountain Springs Rd. in Antioch. Springs at Mountain View spans 21 two-story buildings on 26 acres of land and features a business center, conference facilities and an exercise room. MSA Architects designed the property.
MIAMI BEACH, FLA. — New York City-based GFI Capital Resources Group has acquired two distressed multifamily mortgages worth $13 million from a local bank. The two properties are located in Miami Beach and encompass 140 units. GFI purchased the loans at a discount.
SMITHTOWN, N.Y. — Meridian Capital Group has arranged a $55.1 million first-mortgage loan for the refinancing of Avalon Commons, a 312-unit multifamily community located in Smithtown. The garden-style community comprises 13 buildings, an outdoor swimming pool and a luxury clubhouse with a fitness center. The loan carries a fixed interest rate over a 5-year term and was placed with a local lender. Abe Hirsch of Meridian’s New York office originated the loan on behalf of AvalonBay Communities.