NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $8.6 million sale of The St. Ann’s Portfolio, a collection of six multifamily buildings in The Bronx. The buildings total 82 residential units and four commercial spaces and are located in the Mott Haven neighborhood. Heritage Affordable Communities purchased the portfolio from Castellan Real Estate Partners. Victor Sozio, Shimon Shkury, Jason Gold and Daniel Mahfar of Ariel Property Advisors brokered the deal.
EUGENE, ORE. — Marcus & Millichap has arranged the sale of Ducks Village, a 650-bed student housing property located near the University of Oregon campus in Eugene. The 22-building community offers 230 units. Shared amenities include a renovated clubhouse, resort-style swimming pool, fire pits, a fitness center, basketball courts and a tanning booth. Joel Dumes and Patrick Mullowney of Marcus & Millichap represented the seller, a limited liability company, and procured the buyer in the transaction.
VENTURA, CALIF. — Berkadia has brokered the sale of YOLO West Apartments, a multifamily community located at 11114 Darling Road in Ventura. California-based NUWI Capital sold the asset to California-based Universe Holdings for $20.3 million, or $452,222 per unit. Adrienne Barr of Berkadia Los Angeles represented the seller in the deal. Built 2019, YOLO West Apartments features 45 one- and two-bedroom floor plans, including four live-work units, with in-unit washers/dryers and private balconies. Community amenities include a fitness center, a picnic and game area, and a clubhouse.
LOS ANGELES — Sherman & Roylance has arranged new leases for two skilled nursing facilities totaling over 150 licensed beds in downtown Los Angeles. Sherman & Roylance sourced a selection of competitive offers and recommended the new tenant.
CHICAGO — Kiser Group has brokered a condo deconversion sale in Chicago’s Lakeview neighborhood for $18.3 million. The property at 3825 N. Pine Grove features 94 units and 54 parking spaces. Andy Friedman and Jake Parker of Kiser brokered the transaction. The seller was 3825 N. Pine Grove Condominium Association. According to Parker, 90 percent of the units were investor-owned rental units while 10 percent were owner-occupied. Under the Condominium Property Act in Illinois, condo unit owners can elect to sell a property if 75 percent or more are in agreement. The threshold is 85 percent for the City of Chicago. Sellers then have the option to either move out of their units or lease them back from the new owner.
CHARLOTTE, N.C. — The NRP Group has broken ground on South Tryon, a multifamily development located at 3310 S. Tryon St. in Charlotte’s South End. Totaling five stories, the apartment community will comprise 310 units in one-, two- and three-bedroom layouts. Amenities at the property will include a fitness center, coworking space, indoor bike room, club room and social area, dog wash and park, a pool, courtyards and an outdoor cooking and dining area. Delivery of the project is scheduled for 2025. Canyon Partners Real Estate provided an equity investment in conjunction with a senior construction loan from CIBC Bank USA to finance the project.
GLENDORA, CALIF. — Clearwater Living has opened Clearwater at Glendora, a 117-unit assisted living and memory care community in Glendora. The property is a two-story, 117,000-square-foot property offering 88 assisted living and 29 memory support apartments with studio, companion, one- and two-bedroom layouts. It is the only assisted living and memory care community in Glendora, according to the developer. Clearwater at Glendora is the company’s 10th seniors housing community in California, Arizona and Nevada, with plans for additional developments in the pipeline.
KANSAS, MISSOURI AND MICHIGAN — Maverick Commercial Mortgage has arranged a $6.9 million loan for the refinancing of three mobile home parks in the Midwest. The properties include Green Acres in Emporia, Kan.; Maplewoods in Odessa, Mo.; and Milwood MHC in Kalamazoo, Mich. Park Place Communities owns and manages the portfolio. All three properties are slated to undergo major capital improvement projects. A Midwest debt fund provided the loan.
ROUND ROCK, TEXAS — Cushman & Wakefield has brokered the sale of Franklin Park of Round Rock, a 76-unit assisted living and memory care community located about 20 miles north of downtown Austin. Completed in 2017 by Franklin Development Co., the property offers memory care and assisted living services. Richard Swartz, Jay Wagner, Jim Dooley and Jack Griffin of Cushman & Wakefield represented the seller, a partnership between Franklin Park Senior Living and an unnamed institutional investor, in the transaction. The buyer was Inspired Healthcare Capital.
BOISE, IDAHO — Hawkins Cos. has obtained $56 million in construction financing for the development of Canyon Ridge, a five-building apartment property in Boise. Sunwest Bank provided the financing. Canyon Ridge will offer 287 apartments, a resort-style outdoor pool, dog park, two playgrounds, a 6,000-square-foot clubhouse, coworking lab, covered barbecue with indoor/outdoor fireplace, fitness center and other common areas. Preleasing is scheduled to begin in spring 2024, with completion slated for May 2025. Dave Karson, Chris Moyer, Paul Roeter and Meredith Donovan of Cushman & Wakefield’s equity, debt and structured finance team represented Boise-based Hawkins Cos. in the transaction.