WASHINGTON, D.C. — The 61-unit Terrace Manor Apartments, a garden-style apartment community, has sold in Washington, D.C. Ari Firoozabadi, John Mullen, Kyle Tangney, Henry Schuldinger and Caleb Brown of Washington, D.C.-based Greysteel Co. represented the seller, Hastings Development Corp., in the transaction. Sanford Capital LLC purchased the multifamily property.
WASHINGTON, D.C. — Washington, D.C.-based Greysteel, a real estate investment services firm, has brokered the $1.6 million sale of 1702 16th St. N.W. in Washington, D.C. The eight-unit boutique apartment building in Washington, D.C.’s Dupont Circle sold to an unlisted cash purchaser. Ari Firoozabadi, Kyle Tangney, John Mullen, Henry Schuldinger and Caleb Brown of Greysteel represented the seller, Kerner Development LLC.
CLEARWATER, FLA. — The 172,596-square-foot Bayside Bridge Plaza, a grocery-anchored shopping center located at the intersection of McMullen Booth and Coachman roads in Clearwater, has traded for $17.25 million. An affiliate of Montreal, Canada-based Dalfen America Corp. sold the retail property to an affiliate of Hallandale, Fla.-based Isram Group of Companies. Bayside Bridge Plaza was built in 1989 and renovated in 2004 and 2010. A 42,112-square-foot Publix anchors the property, which is 91 percent leased. Other tenants include Family Fitness, Gatti Town Restaurant, Dollar Tree, Pet Supplies Plus and Ace Hardware. Casey Rosen, Dennis Carson and Nikolas Kozy of CBRE represented the seller in the transaction.
PIKESVILLE, MD. — Greysteel has arranged the $64.7 million sale of the 255-unit Residence at Waterstone, a multifamily property located at 225 Galvariun Court in Pikesville. Amenities include a resort-style swimming pool, theater/media room, fitness center, aerobics/yoga room, lighted tennis courts, library and business center. Ari Firoozabadi, John Mullen, Kyle Tangney, Henry Schuldinger and Caleb Brown of Greysteel represented Pacific Urban Residential, the seller, in the transaction. KBS Legacy Partners was the buyer.
RICHMOND, VA. — The Greysteel Company has arranged the $28.6 million sale of the 296-unit Essex Village Apartments, located at 105 Engleside Drive in Richmond. Amenities include laundry facilities, a playground and a basketball court. Ari Firoozabadi, John Mullen, Kyle Tangney, Henry Schuldinger and Caleb Brown of Greysteel represented the sellers, Federal Capital Partners and St. Charles Co. The buyer was GH Capital.
COON RAPIDS, MINN. — Walker & Dunlop has arranged a $12 million loan for the refinancing of Select Senior Living at Coon Rapids, a 68-unit assisted living facility in Coon Rapids. Amenities at the property include separate dining rooms for memory-care and assisted-living residents, an activity center and theater room. Carolyn McMullen of Walker & Dunlop secured the loan through the U.S. Department of Housing and Urban Development's Section 232/223(f). The loan contains a 35-year amortization schedule.
WASHINGTON, D.C. — Greysteel has arranged the sale of two multifamily buildings in Washington, D.C., totaling 69 units, for $2.32 million. The properties include the 33-unit 1 Hawaii Ave. NE and the 36-unit 113 Wilmington Place SE. Ari Firoozabadi, John Mullen, Kyle Tangney, Henry Schuldinger and Caleb Brown of Bethesda, Md.-based Greysteel, along with Marcus & Millichap, represented the sellers in both transactions. For 1 Hawaii Ave. NE, Carroll Associates sold the property to Mayfair LLC for $1.32 million. For 113 Wilmington Place, RM Cohen Investment Co. sold the property for $1 million.
WASHINGTON, D.C. — Bethesda, Md.-based The Firoozabadi Group of Marcus & Millichap has arranaged the $17.12 million sale of the 95-unit La Reine Apartments, located at 5425 Connecticut Ave. N.W. in Washington, D.C. Ari Firoozabadi, John Mullen and Kyle Tangney of The Firoozabadi Group represented Kline Family LLC, the seller, in the transaction. The buyer was Rockville, Md.-based Kossow Management.
NEWPORT NEWS, VA. — The Firoozabadi Group of Marcus & Millichap and the Tax Credit Group have arranged the $5.41 million sale of the 132-unit Lexington Commons, located at 14534 Old Courthouse Way in Newport News. Artcraft Management was the seller and Capital Vision Management was the buyer. Ari Firoozabadi, Chris Chadwick, John Mullen and Kyle Tangney of The Firoozabadi Group's Washington, D.C., office, along with the Tax Credit Group's Seattle office, represented both parties in the transaction.
PORT ARTHUR — Walker & Dunlop has provided a $5.97 million loan under the U.S. Department of Housing and Urban Development (HUD) Section 223 (a)(7) program for Pebble Creek Apartments, a 208-unit garden style apartment complex in Port Arthur. The apartment complex features a swimming pool, playground and laundry center, and is currently 95 percent leased. Walker & Dunlop's Carolyn McMullen provided the loan for the borrower, The Itex Group, based on a 37-year term and a 37-year amortization schedule.