Transactions: May 2016

Check out the latest sales and financing deals featured in the May issue of MHN.

The following is a list of transactions that were announced between 02/20/2016 – 03/24/2016. To have your transaction featured, submit details to [email protected].


the artisanThe Artisan Townhomes and Apartments

Location: Denver

No. of Units: 434

Buyer: Oak Coast Properties/BMC Investments

Seller/Representative: Peak Capital Partners

Notes: HFF represented the seller and secured Freddie Mac financing.

Value: $50.8 million

Grande Court at Boggy Creek

Location: Kissimmee, Fla.

No. of Units: 394

Buyer: Hercules Real Estate Service

Seller/Representative: Courtelis Development Co.

Notes: Marcus & Millichap represented the seller and procured the buyer.

Value: $26.2 million

Afton Ridge

Location: Concord, N.C.

No. of Units: 360

Buyer: undisclosed

Seller/Representative: Afton Ridge Apartments

Notes: Multi Housing Advisors arranged the transaction on behalf of the seller.

Value: $47 million

Alexan Henderson Beach Apartments

Location: Destin, Fla.

No. of Units: 340

Buyer: Bluerock Residential Growth REIT

Seller/Representative: undisclosed

Notes: Bluerock plans to raise rents and renovate common areas.

Value: $53.7 million

Russellville Commons Apartments

Location: Portland, Ore.

No. of Units: 283

Buyer: MG Properties Group

Seller/Representative: The Reliant Group

Notes: HFO Investment Real Estate represented the seller.

Value: $57.8 million

The Village at Marquee Station

Location: Fuquay-Varina, N.C.

No. of Units: 265

Buyer: Starlight U.S. Multifamily Core Fund

Seller/Representative: Blue Heron Asset Management

Notes: HFF represented the seller.

Value: $41.5 million

Bridges at Kendall Place

Location: Miami

No. of Units: 228

Buyer: Stockbridge Capital Group

Seller/Representative: Jamestown

Notes: HFF represented the seller.

Value: $52.7 million

Spyglass Hill

Location: Portland, Ore.

No. of Units: 137

Buyer: Pacific Urban Residential

Seller/Representative: Hamilton Zanze

Notes: HFF represented the seller.

Value: $25.3 million

Winfield of Scottsdale Apartments

Location: Scottsdale, Ariz.

No. of Units: 95

Buyer: The Tanbic Co.

Seller/Representative: Transwestern

Notes: Transwestern represented the undisclosed seller.

Value: $13 million



tidesThe Tides at Lakeshore East

Location: Chicago

Type of Financing: refinance

No. of Units: 608

Lender: undisclosed

Arranged By: CBRE

Notes: The borrower was a joint venture between Magellan Development and the AFL-CIO Building Investment Trust.

Amount: $125 million

Woodfield Dulles Station

Location: Washington, D.C.

Type of Financing: construction

No. of Units: 400

Lender: U.S. Bank

Arranged By: HFF

Notes: The developer is Woodfield Investments.

Amount: $69 million

Optima Sonoran Village

Location: Scottsdale, Ariz.

Type of Financing: refinance

No. of Units: 206

Lender: Mesa West Capital

Arranged By: CBRE

Notes: The borrower was a joint venture between Optima and DeBartolo Development.

Amount: $49.8 million


Location: Laguna Niguel, Calif.

Type of Financing: joint venture equity

No. of Units: 211

Lender: Fremont Realty Capital

Arranged By: HFF

Notes: The borrower was Steadfast Companies.

Amount: $27.9 million

The Dakota at Abacoa Apartments

Location: Jupiter, Fla.

Type of Financing: refinance

No. of Units: 190

Lender: PPM Finance

Arranged By: NorthMarq Capital

Notes: The property is located within the Abacoa master-planned community.

Amount: $26.2 million

Tabco Towers

Location: Towson, Md.

Type of Financing: acquisition

No. of Units: 200

Lender: HUD

Arranged By: JLL

Notes: The borrower was Wishrock Investment Group.

Amount: $24.5 million

Platt Park North

Location: Denver, Colo.

Type of Financing: refinance

No. of Units: 60

Lender: Freddie Mac

Arranged By: HFF

Notes: The property is owned by Pando Holdings and CF Investments.

Amount: $22.2 million

333 Central Avenue

Location: Westfield, N.J.

Type of Financing: construction

No. of Units: 70

Lender: Capital One Bank

Arranged By: HFF

Notes: The borrowers were the Hampshire Cos. and the Claremont Cos.

Amount: $17.4 million

Residences at Seminole Commons

Location: Sanford, Fla.

Type of Financing: construction

No. of Units: 175

Lender: Synovus Bank

Arranged By: NorthMarq Capital

Notes: The developer is Inland Atlantic Development Corporation.

Amount: $15.2 million




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