ISELIN, N.J. — Cushman & Wakefield has brokered the sale of a development site located at 186 Wood Ave. S. in the northern New Jersey community of Iselin. The site is located within the Centra at Metropark office campus. The Hampshire Cos. sold the asset to Woodmont Properties for an undisclosed price. Andrew Merin, David Bernhaut, Gary Gabriel, Frank DiTommaso and Ryan Larkin of Cushman & Wakefield represented the seller in the deal. The buyer did not disclose specific plans for the project.
LAYTON, UTAH — PGIM Real Estate has provided an $18.5 million mezzanine loan to Rockworth Cos. for a 6.3-acre site in Layton, approximately 25 miles north of Salt Lake City. Daniel Kattan of PGIM secured the financing on behalf of the borrower. The site includes a newly constructed apartment community totaling 252 units, as well as two commercial buildings with 15,000 square feet of second-story office space and 15,130 square feet of ground-floor retail space.
HOUSTON — Developer Henry Richardson is building a 260-unit development at 1888 Brittmoore Road in Houston. Ted Trout Architect & Associates is designing the project, and Blazer Building is the general contractor. The complex will rise four stories on a six-acre site. Units will come in one- and two-bedroom floor plans. Amenities will include a fitness center, business center, clubhouse and a dog park. Preleasing is underway. The project is slated to deliver this summer.
SAN DIEGO — Liberty National Corp. has purchased a 22,484-square-foot property in San Diego’s downtown area for an undisclosed price. The developer plans to construct a high-rise community on the site, including a selection of affordable housing units. The site is located at 1520 and 1532 3rd Avenue in San Diego’s Cortez Hill neighborhood, directly across the street from the historic St. Joseph Cathedral. Liberty National Corp. states that the company acquired the site due to its location, which is in proximity to attractions such as Balboa Park, Little Italy and …
MANCHESTER, N.H. — North & South Construction Services has completed Signature on Elm, a 35-unit development in Manchester. The developer and general contractor developed the project in partnership with the Strafford Economic Development Corp. Signature on Elm offers studio, one- and two-bedroom units, as well as 8,000 square feet of retail space. Of the total unit count, 15 apartments are set aside as workforce housing. Income restrictions for these units were not disclosed. Rents for market-rate units start at $1,500 per month for a studio apartment.
SMYRNA, GA. — Cushman & Wakefield has negotiated the sale of Harlow, a recently-completed community in the Atlanta suburb of Smyrna. RA Capital Partners purchased the asset from South City Partners for an undisclosed price. Robert Stickel, Alex Brown, Ashlyn Warren, Michael Kay, and Sim Patrick of Cushman & Wakefield represented the seller in the deal. Harlow offers 303 units, as well as more than 6,000 square feet of amenity space. The property is situated nearby The Battery, a mixed-use entertainment district and home of the Atlanta Braves.
BOISE, IDAHO — San Francisco-based investment firm Hamilton Zanze has sold Arbor Crossing, a 229-unit community in Boise. The sales price and buyer were not disclosed. Arbor Crossing was built in 1992 at 5122 W Stoker Lane. The property offers one-, two- and three-bedroom units with an average size of 930 square feet. Community amenities include a fitness center, business center, pool, daycare, playground, coffee and tea bar, detached garages, a sports court and a gazebo with a grilling area.
ROSELLE, N.J. — The Kislak Co. has arranged the $6.9 million sale of Sheridan Garden Apartments, a 35-unit complex in the New York City suburb of Roselle. Sheridan Garden Apartments was originally built in 1928. Joni Sweetwood of Kislak represented the seller, an entity doing business as Sheridan Estate Urban Renewal LLC, in the deal. Sweetwood also procured the buyer, Harrison Grove Holdings LLC.
WASHINGTON, D.C. — Red Oak Capital Holdings has provided a $5.8 million bridge loan for Hawaii Avenue Apartments, an affordable housing community located in Washington, D.C.’s Brookland neighborhood. The interest-only loan features a 12-month term with two six-month extension options and an all-in interest rate of 11 percent. The financing was underwritten based on the property’s forecast stabilized value of $8 million. The borrower, an entity doing business as Legacy Lofts II & III, plans to use the funds to acquire and rehabilitate the property into 22 apartments that will …
MISSION, TEXAS — Northmarq has brokered the sale of Las Misiones Apartments, a 118-unit complex in the Rio Grande Valley city of Mission. McGuire Family Properties purchased the asset from a pair of private investors for an undisclosed price. Zar Haro, Moses Siller, Phil Grafe, Bryan VanCura and Brian Booth of Northmarq brokered the deal. Las Misiones Apartments was built in 2005. The property offers one-, two- and three-bedroom units. Amenities include a pool, fitness center, business center, playground, clubhouse, basketball court and a lounge.