Property Acquisitions and Dispositions
Orlando, Fla. - Berkadia has arranged a $35.23 million loan for the acquisition of Canopy Apartment Villas, a multi-family residence of single-story villas and townhomes located in Orlando. Senior Managing Director Mitch Sinberg and Associate Director Matthew Robbins of Berkadia’s Boca Raton office arranged the loan on behalf of the buyer, Taurus Investment Holdings.
Berkadia has arranged a $46.97 million loan for the acquisition of Downtown Dadeland, a seven-acre urban retail development located across from one of the country’s top-performing malls. Located at the intersection of East Kendall, Pinecrest and South Miami, the property consists of 126,133 square feet of ground floor retail space occupied by a mix of national, regional and local tenants, along with 416 condo units and over 500 parking spaces in seven buildings. The retail portion of the property was 97 percent leased at the time of sale.
, of Northcap Commercial Multifamily, are pleased to announce the recent sale of Swenson Apartments for $4,350,000 ($58,784/unit). This sale consisted of 74 multifamily units built in 1972, located at 3850 Daisy Street in Las Vegas, Nevada.
SAN FRANCISCO, CA – October 11, 2018 – HFF announces the $104 million sale of Meridian at Midtown, a 218-unit luxury apartment community with approximately 14,000 square feet of ground-floor retail in San Jose, California.
Daytona Beach, Fla. – Berkadia has arranged $31.45 million in financing for two Daytona Beach communities: Lake Forest, a 240-unit multifamily asset, and Jade Park Apartments, a 144-unit multifamily asset. Senior Managing Director Mitch Sinberg, Associate Director Matthew Robbins, and Director of Operations Jared Hill of Berkadia’s South Florida office, arranged a $27.75 million senior loan and a $3.7 million mezzanine loan. The closing marks the second transaction using Freddie Mac’s Workforce Housing Mezzanine Loan pilot, which incentivizes multifamily property owners to keep rents at levels affordable to working families without any federal, state or municipal subsidy. The buyer was an affiliate of Lloyd Jones in Miami, purchasing the property for $37 million.
Berkadia has arranged a $38.75 million loan for the acquisition of Deerwood Village, a partially renovated, 328-unit garden-style apartment community located in Ocala, Fla. Senior Managing Director Charles Foschini, Managing Director Christopher Apone and Senior Analyst Lourdes Carranza-Alvarez of Berkadia’s South Florida office arranged the loan on behalf of the buyer, West Shore LLC, a real estate investment firm based in Boston.
HOUSTON, TX – October 11, 2018 – HFF announces the sale and acquisition financing for WaterWall Place, a LEED Silver, seven-story luxury multi-housing community in Houston’s Uptown District.
CHICAGO, IL – October 11, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of and acquisition financing for Stone Crossing Apartments, a 258-unit apartment community in the Chicago suburb of Aurora, Illinois.