TODAY’S DEALS: Hendricks & Partners, CBRE Arrange Sale of Three Properties for Over $200M, and Other Transactions
- May 01, 2009
By Anuradha Kher, Online News EditorAliso Viejo and Rancho Santa Margarita, Calif.– Hendricks & Partners and CB Richard Ellis recently arranged the sale of three South Orange County apartment communities with 1,368-units for a total $201,250,000.The properties include:Aventine at Aliso Viejo, a 386-home luxury rental community located at 22501 Chase in Aliso Viejo. which sold for $56,250,000;Alize at Aliso Viejo, a 484-unit luxury rental community located at 2 Enterprise St. in Aliso Viejo, which was sold for $75 million; andAvila at Rancho Santa Margarita, a 498-unit luxury rental community located at 22751 El Prado Ave. in Rancho Santa Margarita was sold for $70 million.The seller of all the assets is The Northwestern Mutual Life Insurance Co.26-Unit Community Receives $3.5M Refi LoanAustin, Texas–HFF (Holliday Fenoglio Fowler, L.P.) has arranged a $3.5 million refinancing for The Villas at San Gabriel, a 26-unit multifamily community in Austin, Texas.HFF placed the 10-year fixed-rate loan with American National Insurance Company.The Villas at San Gabriel are located at 2410 San Gabriel St. The property has maintained 100 percent occupancy since completion in 1998 and is currently fully leased to University of Texas students.