TODAY’S DEALS: Hendricks & Partners Arranges Sale of 235-Unit Property For $12M, and Other Transactions

By Anuradha Kher, Online News EditorOak Creek, Wis.–Hendricks & Partners recently arranged the sale of Oak Park Apartments (pictured), located at 8828 South Oak Park Dr. in Oak Creek, Wis. for about $12,200,000, which was the asking price.Constructed in 1964, Oak Park Apartments is a 235-unit rental community that features 22, two-story buildings offering a mix of one-, two- and three-bedroom apartment homes featuring spacious floor plans averaging over 835 square feet. The apartment homes also offer patio/balconies, spacious closets, full basements, pitched roofs, as well as some garages and carports. Community amenities include a remodeled leasing center/clubhouse, 24-hour maintenance, a business center, and laundry facilities. The seller was OP Apartments, LLC/Banner Apartments Holding, LLC/Banner Apartments, LLC of Northbrook, Ill. and the buyer was OPAH LLC of Buttler, Wis. Arbor Provides Over $1M in Loan Under Fannie Mae DUS Small Product LineBoise, Idaho–Arbor Commercial Funding LLC recently completed funding of a $1,250,000 loan under the Fannie Mae DUS Small Loan product line for the 44-unit complex known as Maple Grove Apartments in Boise, Idaho. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.50 percent.