Property Acquisitions and Dispositions
, 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.
WASHINGTON, D.C. – October 10, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $90 million sale of and acquisition financing for 672 Flats, a 173-unit, newly completed multi-housing community in the Ballston submarket of Arlington, Virginia.
WASHINGTON, D.C. – October 9, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $83 million sale of Alexan Concorde, a 310-unit, Class A luxury apartment community in Linthicum Heights, Maryland.
Greystone, a leading commercial real estate lending, investment, and advisory company, announced it has provided a $5,320,000 Freddie Mac Targeted Affordable Housing loan for the acquisition of Verdant Cove Apartments in Gainesville, Florida. The loan was originated by Andrew C. Ellis, managing director in Greystone’s Rockville, Maryland office, for Capital Vision Management, LLC, a Parkland, Florida-based real estate investment firm.
Berkadia has arranged $21.75 million in acquisition financing for Anatole on Briarwood, a 250-unit garden style community located in Midland. Senior Managing Director Tucker Knight and Director Nicholas Murphy of Berkadia’s Houston office arranged the loan on behalf of Olympus Property, a full-service multifamily investment and property management organization headquartered in Fort Worth.