NEW YORK CITY — Walker & Dunlop has arranged a $128 million bridge loan for the acquisition of a nine-property portfolio located in Manhattan’s East Village neighborhood. The portfolio comprises 171 units across 153,800 square feet, as well as 22 retail spaces. The borrower was RYCO Capital. Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz and Sean Bastian of Walker & Dunlop arranged the floating-rate loan through Derby Copeland Capital.
ANNA, TEXAS — Palladium USA has delivered Palladium East Foster Crossing, a $64 million community in the Dallas suburb of Anna. The project is a public-private partnership with the Anna Public Facilities Corp. Palladium East Foster Crossing comprises 239 apartments on an eight-acre site. The four-story development houses one-, two- and three-bedroom floor plans. Amenities include a pool, fitness center, conference center, dog park, computer lounge, children’s playroom and clubroom with a mini kitchen. HEDK Architects designed the community. BBL Construction was the general contractor. The Anna Public Facilities Corp. …
FITCHBURG, WIS. — Marcus & Millichap (NYSE: MMI) has negotiated the sale of Sun Valley Apartments, a 204-unit community in the Madison, Wisconsin suburb of Fitchburg. Matthew Whiteside of Marcus & Millichap’s Milwaukee office represented the seller, Sierra West LLC and procured the buyer, Monarch Investment and Management Group. Sun Valley Apartments was built in 1975 and renovated in 2011. The complex consists of 12 buildings on a 12-acre site. Amenities include a fitness center, leasing office, playground and green spaces. The property is situated adjacent to the Nevin Springs …
HOUSTON — A partnership between the Harris County Housing Authority, Harris County Housing & Community Development, OCI Development and Atlantic Pacific Cos. has broken ground on The Residences at Arbor Oaks, a 192-unit affordable housing project in Houston. The Residences at Arbor Oaks will be reserved for households earning between 30 and 60 percent of the area median income. The property will feature 84 two-bedroom and 108 three-bedroom units. Planned amenities include a pool, fitness center, business center, outdoor grilling and dining stations and a children’s play area. Residents will …
UNION CITY, N.J. — Marcus & Millichap (NYSE: MMI) has arranged the sale of Four Eleven Apartments, a 17-unit community in Union City. The five-story building is located at 411 15th St. and totals approximately 13,400 square feet. The unit mix includes 13 one-bedroom and four two-bedroom units. Spat LLC sold the property to a local private investor for $2.1 million. Devin Perez, Jed Matricaria, Daniel Aviles, Brent Hyldahl and Alan Cafiero of Marcus & Millichap’s New Jersey office marketed the asset on behalf of the seller.
BELLFLOWER, CALIF. — CBRE has arranged the sale of an eight-unit property located in the southeast Los Angeles suburb of Bellflower. Located at 9108 Palm St., the 7,619-square-foot property was constructed in 1960. The new ownership plans to renovate the community. The asset traded hands for $2 million. Dan Blackwell and Sean Farag of CBRE represented the private 1031 exchange buyer in the deal. The seller was based in Los Angeles County.
RIVERVIEW, MICH. — Friedman Real Estate has brokered the sale of Huntington House Apartments, a 129-unit complex located at 17400 Fort Street in the southern Detroit suburb of Riverview. The property traded hands for $10.5 million. Peter Jankowski and Rich Deptula of Friedman Real Estate represented the undisclosed seller in the deal. The buyer was also not disclosed.
FORT WORTH, TEXAS — Greystone has provided an $18.6 million Fannie Mae acquisition loan for The Residences of Diamond Hill in Fort Worth. John Williams of Greystone originated the loan, which features a 10-year term, 35-year amortization schedule and interest-only payments for the first five years. The borrower and seller were not disclosed. The Residences of Diamond Hill was built in 2003. The garden-style community consists of 204 units across 40 buildings. Apartments come in two-, three- and four-bedroom layouts. Amenities include a fitness center, pool, outdoor grilling and picnic …
BAY HARBOR ISLANDS, FLA. — Walker & Dunlop has brokered a $53.6 million loan for the construction of Clara Bay Harbor 100th, a 150-unit development in Bay Harbor Islands, 15 miles from Miami. Adam Schwartz, Aaron Appel, Jonathan Schwartz, Keith Kurland, Michael Ianno, Christopher de Raet and Marlon Robins of Walker & Dunlop secured the loan on behalf of the borrower. Located at 1145-1163 100th St., Clara Bay Harbor 100th is the second phase of a three-phase rental development by Clara Homes. Phase II will comprise 45 units. The developer …
SAN DIEGO — Newmark has hired Erik Anderson to the role of Senior Managing Director. In this position, Anderson will specialize in multifamily investment sales for private clients and middle-market investors throughout Southern California. He will be based out of Newmark’s San Diego office. Prior to joining Newmark, Anderson held senior positions at Northmarq and CBRE. He has served on the Developing Leaders board for NAIOP San Diego and is a member of the Urban Land Institute and the National Multifamily Housing Council.