Resource Real Estate Buys Two Colorado Apartments

Resource Real Estate Opportunity REIT completes a two-property, $54.9 million buy; NorthMarq arranges $25.9 million for an acquisition in North Carolina; and Houlihan-Parnes arranges a $1.5 million financing for a three-family brownstone building in Brooklyn, N.Y.

Denver—Resource Real Estate Opportunity REIT has purchased Camden Centennial in Littleton, Colo., and Camden Pinnacle in Westminster, Colo. The two communities are located in affluent Denver suburbs and represent the firm’s entry into the Denver market. The combined sales price was $54.9 million.

Centennial features 276 units in 13 buildings situated over nine acres. Amenities include a pool and spa, two laundry rooms, a fitness center, business center and billiard table.

Pinnacle is a 224-unit asset consisting of 11 buildings on seven acres. Amenities include a heated swimming pool with hot tub, a clubhouse, fitness center and barbecue area.

NorthMarq arranges $25.9M for a N.C. acquisition

Chapel Hill, N.C.—NorthMarq’s Raleigh office has arranged $25,850,000 million in acquisition financing for Foxcroft Apartments, a market rate asset with 248 units. The property is located at 545 Ashley Court in Chapel Hill, N.C.

Financing was based on a three-year term with interest only. The loan was arranged for the borrower, Eller Capital Partners, through NorthMarq’s relationship with Latitude Management Real Estate Investors.

Houlihan-Parnes arranges $1.5M financing for three-family brownstone

195 St. James St.New York—Ed Graf of Houlihan-Parnes Realtors, LLC, has arranged for 1st mortgage financing in the amount of$1.5 million on a newly constructed three-family brownstone located at 195 St. James Street in Brooklyn, N.Y.  The privately-held loan has a term of one year with interest only payments and is prepayable after six months with no penalty.