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LOWELL, MASS. — Marcus & Millichap has brokered the sale of a 17-unit building located at 887 Varnum Avenue in the northwestern Boston suburb of Lowell. The community offers five studios and 12 two-bedroom units. Amenities include onsite parking and laundry facilities. Tony Pepdjonovic, Evan Griffith and Will Sanborn of Marcus & Millichap represented the seller and procured the buyer in the deal. Both parties requested anonymity.

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NEW BEDFORD, MASS. — MassDevelopment has provided $17 million in tax-exempt bond financing for Wamsutta Apartments, a 144-unit affordable housing complex in New Bedford. The borrower, an affiliate of HallKeen Management, plans to use the proceeds to fund capital improvements and preserve the property’s affordability status. The historic property was constructed in the 1870s and includes 29 buildings. The buildings primarily house one-bedroom units. Residences are reserved for households earning 60 percent or less of the area median income.

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TUCSON, ARIZ. — Cushman & Wakefield | PICOR has brokered the sale of Alamo Apartments, a 20-unit building in Tucson. Alamo Apartments is located at 824 E. 10th Street and comprises 11,189 square feet. The Twenty Lofts on Tenth LLC acquired the asset from Euclid 35 LLC for $2 million. Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR represented both the seller and buyer in the transaction.

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NEW YORK CITY — Ariel Property Advisors has negotiated a $25.3 million loan for the refinancing of an 82-unit building on Manhattan’s Upper West Side. The property is situated at 120-125 Riverside Drive. An undisclosed, out-of-state bank provided the five-year, fixed-rate loan, which was structured with two years of interest-only payments and a 60 percent loan-to-cost ratio. The borrower plans to use the proceeds to fund capital improvements to the property. Matt Dzbanek and Matt Swerdlow of Ariel Property Advisors led the transaction.

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Effingham Green Condos in Portsmouth, Virginia

PORTSMOUTH, VA. — Marcus & Millichap has brokered the sale of Effingham Green Condos, a 17-unit property in Portsmouth. Nouveux Effingham LLC purchased the community from Capps Equity LLC for $2.4 million. Justin Ferguson, Altay Uzun, Theo Jolley and Jack Carroll of Marcus & Millichap marketed the property on behalf of the seller and procured the buyer. Situated at 1007 Green Street, Effingham Green Condos was built in 1987 on a two-acre site. The property features 17 two-bedroom units across two buildings.

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NEW YORK CITY — Cushman & Wakefield has arranged a $135 million construction loan for a 328-unit project located at 975 Nostrand Avenue in Brooklyn. The loan was provided by Santander and Related Cos. Gideon Gil, Zachary Kraft and Sebastian Sanchez of Cushman & Wakefield represented the borrower. The nine-story building will offer amenities such as a roof terrace, courtyard, fitness center and yoga room, karaoke room and a pet spa. The property will also include a 21,000-square-foot FRESH supermarket, 4,200 square feet of traditional retail space and 193 below-grade …

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HOUSTON — Marcus & Millichap has brokered the sale of Rosslyn Heights Apartments, a 60-unit complex in Houston. Rosslyn Heights Apartments was built in 1985. The property offers two-bedroom units and amenities such as a playground. Kyle Devillier, Gregory Austin, Travis Austin and Jackson Hart of Marcus & Millichap represented the seller and procured the buyer in the deal. Both parties were limited liability companies that requested anonymity.

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IRVING, TEXAS — Colliers Mortgage has provided a Fannie Mae acquisition loan for Landen Apartment Homes in Irving. Fritz Waldvogel of Colliers Mortgage originated the loan, which features a five-year term, through a partnership with Old Capital Lending. The borrower was an entity doing business as NH Investments LAH LLC. Landen Apartment Homes comprises 134 units across four two-story buildings. Units come in studio, one-, two- and three-bedroom floor plans. Amenities include a pool, playground and outdoor kitchen and grilling stations.

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Elm Point Apartments in Bloomington, Illinois

BLOOMINGTON AND NORMAL, ILL. — Churchill Living has selected RMK Management Corp. to manage Elm Point Apartments in Bloomington and Oak Point Apartments in Normal. Elm Point comprises 104 units. Apartments range from 900 to 1,165 square feet in size. Monthly rents range from $1,190 to $3,800 per month. Oak Point offers 144 units ranging from 696 to 1,560 square feet in size. Monthly rents range from $1,050 to $2,150. RMK Management is headquartered in Chicago and manages approximately 8,800 apartment units across 38 properties in Chicago, Indiana, Wisconsin and Minnesota.

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Domain at Midtown Park in Dallas

DALLAS — A partnership consisting of investment firms Waterford Property Co., The Vistria Group and Northern Liberties has acquired Domain at Midtown Park, a 395-unit community in North Dallas. Walker & Dunlop originated Freddie Mac acquisition financing for the deal. Built in 2016, Domain at the Park offers amenities such as a pool, clubhouse, fitness center, business center, outdoor grilling and dining stations, dog park and a golf simulator. Concurrent with the sale, the new owners also entered into a 99-year ground lease with the Dallas Housing Finance Corp. to …

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