TODAY’S DEALS: Hendricks & Partners Arranges Sale of 232-Unit Rental Community, and Other Transactions

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By Anuradha Kher, Online News EditorGilbert, Ariz.–Hendricks & Partners recently arranged the sale of Sky View Ranch, located at 4632 East Germann Rd. in Gilbert, Ariz. for $17,500,000.The 232-unit Sky View Ranch is a class “A” asset constructed in 2007 and featuring 11, three-story rental buildings offering eight floor plans of one-, two-, and three-bedroom […]

By Anuradha Kher, Online News EditorGilbert, Ariz.–Hendricks & Partners recently arranged the sale of Sky View Ranch, located at 4632 East Germann Rd. in Gilbert, Ariz. for $17,500,000.The 232-unit Sky View Ranch is a class “A” asset constructed in 2007 and featuring 11, three-story rental buildings offering eight floor plans of one-, two-, and three-bedroom units averaging 971-sq.-ft. Units feature nine-ft. ceilings, air conditioning, extra storage, fully-equipped kitchens and high-speed internet. Community amenities include a swimming pool, clubhouse, gated/controlled access, garages, business center, and fitness center. The seller was Fairfield Skyview Ranch L.P. c/o Fairfield Residential LLC of San Diego and the buyer was Mid-America Apartments L.P., c/o Mid-America Apartment Communities of Memphis, Tenn.Arbor Closes $11,150,000 Fannie Mae DUS MBS LoanWilmington, Calif.–Arbor Commercial Funding LLC has recently completed funding of a $11,150,000 loan under the Fannie Mae DUS MBS Loan product line for the 204-unit property Harbor Green Apartments in Wilmington, Calif.The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.66 percent.

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