Transactions: March 2016
The following is a list of transactions that were announced between 12/30/2015 – 01/22/2016. To have your transaction featured, submit details to mallory.bulman@cpe-mhn.com. SALES: Arium Barber Park Location: Orlando, Fla. No. of Units: 526 Buyer: White Eagle Property Group Seller/Representative: CBRE Investment Properties Notes: CBRE represented the seller, Carroll Organization. Value: $51.9 million Allister North…
The following is a list of transactions that were announced between 12/30/2015 – 01/22/2016. To have your transaction featured, submit details to mallory.bulman@cpe-mhn.com.
Arium Barber Park in Orlando, Fla.
SALES:
Arium Barber Park
Location: Orlando, Fla.
No. of Units: 526
Buyer: White Eagle Property Group
Seller/Representative: CBRE Investment Properties
Notes: CBRE represented the seller, Carroll Organization.
Value: $51.9 million
Allister North Hills
Location: Raleigh, N.C.
No. of Units: 434
Buyer: Heitman
Seller/Representative: Federal Capital Partners/Kane Realty Corp.
Notes: Kane Residential will continue to manage the property for the new owner.
Value: $93.5 million
The Millennium in Woodland Hills
Location: Los Angeles
No. of Units: 395
Buyer: TruAmerica Multifamily
Seller/Representative: Intercontinental Real Estate Corporation
Notes: Under its new ownership, the property will be rebranded as The Motif.
Value: $163 million
The Pointe
Location: Vancouver, Wash.
No. of Units: 387
Buyer: Green Leaf Capital Partners
Seller/Representative: HFF
Notes: The seller was an affiliate of Kennedy Wilson.
Value: $55 million
Stoneridge Farms
Location: Nashville, Tenn.
No. of Units: 336
Buyer: Steadfast Apartment REIT
Seller/Representative: undisclosed
Notes: The REIT plans to upgrade all unit interiors.
Value: $47.7 million
Lakes of Palm Harbor
Location: Palm Harbor, Fla.
No. of Units: 292
Buyer: RADCO Cos.
Seller/Representative: ARA
Notes: ARA, a Newmark company, represented the undisclosed seller.
Value: $33.5 million
Crescent Centre
Location: Louisville, Ky.
No. of Units: 209
Buyer: Trilogy Real Estate
Seller/Representative: Marcus & Milichap Louisville
Notes: Approximately 30 units have been upgraded with new interiors.
Value: $22 million
Rossmoor Manor Apartments
Location: Los Alamitos, Calif.
No. of Units: 150
Buyer: Revere Investments
Seller/Representative: Given & Benjamin Los Alamitos Investment Co.
Notes: NAI Capital represented the seller.
Value: $33.5 million
The Crescent Club
Location: Queens, N.Y.
No. of Units: 130
Buyer: Weiss Realty
Seller/Representative: Bonjour Capital
Notes: This marks the third time the property has traded hands in the last four years.
Value: $97 million
FINANCING:
Eighty Seven Park in Miami
Eighty Seven Park
Location: Miami
Type of Financing: construction
No. of Units: 70
Lender: United Overseas Bank
Arranged By: undisclosed
Notes: The borrowers were a partnership between Terra, Bizzi & Partners Development and New Valley.
Amount: $91 million
The Left Bank
Location: Philadelphia
Type of Financing: refinance
No. of Units: 282
Lender: New York Community Bank
Arranged By: HFF
Notes: The borrower was Dranoff Properties.
Amount: $88 million
207 Van Vorst
Location: Jersey City, N.J.
Type of Financing: construction
No. of Units: 255
Lender: Wells Fargo Bank
Arranged By: HFF
Notes: The borrower was 207 Van Vorst Realty Company LLC.
Amount: $63.5 million
Eighteen Ten State St.
Location: San Diego
Type of Financing: development
No. of Units: 99
Lender: UBS Asset Management
Arranged By: HFF
Notes: The borrower was McMillin Cos.
Amount: $42.5 million
Couch 9
Location: Portland, Ore.
Type of Financing: construction
No. of Units: 136
Lender: undisclosed
Arranged By: HFF
Notes: The borrower was Urban Asset Advisors and the loan was acquired through a non-local debt fund.
Amount: $41.6 million
Villas at Parker
Location: Denver, Colo.
Type of Financing: acquisition
No. of Units: 345
Lender: Freddie Mac
Arranged By: HFF
Notes: The borrower was Advenir Inc.
Amount: $31.2 million
Covington Senior Care Services
Location: Kenner, La.
Type of Financing: construction
No. of Units: 127
Lender: Louisiana Public Facilities Authority
Arranged By: Preston Hollow Capital
Notes: The loan will fund the construction of an assisted living and memory care community.
Amount: $29.2 million
Renaissance Senior Living
Location: Tampa, Fla.
Type of Financing: acquisition
No. of Units: 226
Lender: undisclosed
Arranged By: Cushman & Wakefield
Notes: The borrower was the Carlyle Group.
Amount: $28.7 million
The Encore Apartments
Location: Plano, Texas
Type of Financing: refinance
No. of Units: 240
Lender: Fannie Mae
Arranged By: NorthMarq
Notes: The property is a part of the Legacy Business Park in North Plano.
Amount: $18.2 million
