Cohen Financial Secures $48.8M for 12 Bay Area Communities

Cohen Financial secures financing for 12 properties; Marcus & Millichap brokers the sale of a seniors housing asset near Chicago; and Hendricks & Partners brokers a $5 million sale.

Apartments in San Rafael, Calif.

San Francisco—Cohen Financial has secured a total of $48.8 million for 12 multifamily properties located in and around San Francisco. Kenneth Fox, a managing director in Cohen Financial’s San Francisco office, originated the fixed-rate loans for a San Francisco based multifamily investor.

The firm landed $15.7 million from a Northern California bank to refinance two properties—a 63-unit community on 16th Street and a 40 unit building at 250 Taylor Street—located over street level commercial space in San Francisco.

Cohen also secured $30.1 million in acquisition financing for a portfolio of 10 multifamily properties located in the Bay Area. These loans were financed by three regional California banks and Fannie Mae in association with Greystone Servicing Corporation Inc.

Marcus & Millichap sells 34-unit seniors asset in Illinois

Elmhurst, Il.—Marcus & Millichap Real Estate Investment Services has brokered the sale of 111 West Third Street, a 34-unit seniors housing asset located in Elmhurst, Il., a Chicago suburb. The community commanded a sales price of $3.8 million.

Ryan Engle and Andrean Angelov represented the seller, a financial institution. The duo also secured the buyer, a private investor. 111 West Third Street is a newly constructed building consisting of 16 one-bedrooms, 16 two-bedrooms, and two retail spaces.

Hendricks & Partners brokers $5M sale

Cordova, Calif.—Hendricks & Partners announced the sale of Terra Vista, located at 10055 Terra Loma Drive in Rancho Cordova, Calif. The 136-unit apartment community was sold for $5,032,000.

The Seller was CRP Properties Inc. of Stockton , Calif. The buyer was Chesser Real Estate Group Inc. of Rancho Cucamonga, Calif. The transaction was negotiated by Steven A. Nelson and Al R. Inouye of the Sacramento office of Hendricks & Partners.