Tuesday , 22 August 2017
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Multi-Family Deal Report

Apartment Briefs

HOUSTON – Jamie Mullin and Brandon Brown of LMI Capital arranged $38 million in financing for nine apartment communities totaling 2,364 units throughout the Houston region. The nine properties are: Applewood Townhomes Bellestone Villas, Colony Oaks, Indigo Falls, Madison Bear Creek, Palm Bluffs, Trails of Woodlake, Water Mill and Westheimer Terrace 

FLORHAM PARK, NJ – HFF  has arranged a construction loan for Meadow Crossing, a 172-unit project that will be built in Lyndhurst, New Jersey. HFF worked on behalf of the borrower, Russo Development, to secure the 24-month loan from Wells Fargo.

SAN DIEGO — Allen Chitayat of  Hendricks & Partners handled the sale of two apartments in San Diego. The 48-unit Grand Avenue was sold for $5,451,200 and Bel Vue Terrace, 20 units, sold for $4,148,000.

 MESA, Ariz – The Cimarron Apartments, 210 units, in Mesa, Arizona were sold for $7,550,000. Mark Forrester and Ric Holway of Hendricks & Partners handled the sale.

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