CLINTON TOWNSHIP, MICH. — BWE has secured $19.8 million in acquisition financing for a portfolio totaling 326 units in the Detroit suburb of Clinton Township. The portfolio consists of 13 low-rise buildings. The properties offer a mix of one- and two-bedroom units, as well as amenities like a pool, clubhouse, tennis court, on-site laundry and parking. Adam Gould of BWE’s Detroit office originated the value-add, non-recourse bridge loan, which features three years of interest-only payments and a 75 percent loan-to-cost ratio. The buyer was a regional fund that invests in …
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BRIDGEPORT, CONN. — Northeast Private Client Group (NEPCG) has negotiated the $4 million sale of two buildings totaling 38 units in Bridgeport. Brad Balletto, Rich Edwards, Bob Paterno and Jeff Wright of NEPCG represented the seller and procured the buyer, both of which requested anonymity, in the deal. The first property, Beers Apartments, features 18 units. The second property, Wayne Studios, has 20 units.
SAN ANTONIO — KW Commercial has negotiated the sale of Buena Vida Apartments, a 28-unit building located on San Antonio’s south side. Jaxton Hoelting of KW Commercial represented the California-based seller in the deal. Jackie Oldbury of Keller Williams represented the Texas-based buyer. According to Apartments.com, Buena Vida Apartments was built in 1968 and offers one- and two-bedroom units.
RICHMOND, VA. — Berkadia has brokered the sale of Belmont Hills, a 651-unit community located at 4037 Lamplighter Drive in Richmond. Belmont Hills features one-, two- and three-bedroom units. Amenities include a pool, dog park, fitness center, clubhouse and a business center. A joint venture led by Levco Management acquired the property from Weinstein Properties for an undisclosed price. Carter Wood, Drew White and Cole Carns of Berkadia represented the seller in the deal. Patrick McGlohn, Brian Gould, Miles Drinkwalter and Hunter Wood of Berkadia also secured Freddie Mac financing …
SPICEWOOD, TEXAS — Wasatch Premier Properties has acquired 58 acres within the Thomas Ranch master-planned community in Spicewood, about 35 miles west of Austin. The new owner plans to develop a 600-unit complex on the parcel of land. The seller was Areté Collective, the master developer of Thomas Ranch. Plans for the project call for 100 townhomes and 500 apartments. Townhome units will come in two- and three-bedroom layouts that range in size from 1,400 to 1,700 square feet. Apartments will come in one-, two- and three-bedroom floor plans ranging …
HOUSTON — Sueba USA Cos. has opened San Palmas, a four-story community in Houston’s west region. San Palmas is located at 15915 Kingfield Drive. The property offers 370 units in studio to three-bedroom floor plans. Apartments range in size from 480 to 2,196 square feet. Amenities include an athletic club, pickle ball court, dog park, pool, coworking lounge, coffee station, social areas, gated access and a conference center with catering kitchen.
ALLENDALE, N.J. — The Hampshire Cos. has opened The Vale in Allendale, about 30 miles north of New York City. The community features 70 apartments in one- and two-bedroom floor plans. Of the total unit count, six units are set aside as affordable housing. Three units are designated for first responders. Amenities include a 9,460-square-foot courtyard, clubroom, storage, lounge and gym. The project was designed by DMR Architects.
CHICAGO — Berkadia Institutional Solutions has brokered the sale of Mondial River West, a 141-unit property in Chicago’s River West neighborhood. Pete Evans of Berkadia Chicago and Richard Evans of Berkadia Milwaukee represented the seller, an institutional investor, in the deal. The buyer was a Chicago-based company. Mondial River West was built in 2009 and rises 15 stories. The building is located at 910 West Huron Street and is in proximity to downtown Chicago’s core employment hubs, including Fulton Market, West Loop, Loop, River North and Goose Island.
NEW YORK CITY — Ariel Property Advisors has arranged the sale of a 237-unit property located at 1500 Noble Ave. in The Bronx. The asset traded hands for $26 million. Neither the buyer nor the seller was disclosed. Victor Sozio, Shimon Shkury, Jason Gold, Daniel Mahfar and Gabriel Elyaszadeh of Ariel represented the seller in the deal. The building rises 17 stories on a five-acre site, and features a unit mix of 50 one-bedrooms, 136 two-bedrooms and 51 three-bedrooms.
DENTON, TEXAS — Colliers Mortgage has provided a $41.8 million HUD-insured loan for the refinancing of Village at Rayzor Ranch, a 300-unit property located in the northern Dallas suburb of Denton. Fritz Waldvogel of Colliers Mortgage originated the loan through a partnership with Old Capital Lending on behalf of the undisclosed borrower. Village at Rayzor Ranch offers studio, one- and two-bedroom units. Amenities include a pool, outdoor grilling and dining stations, a dog park, fitness center, sports court, coworking space, coffee bar, lounge, fitness center and package handling services.