Tarragon South Development bought The Preserve at Tampa Palms in Tampa, Fla., for $58.5 million, or $154,762 per unit. The 378-unit property includes 19 two- and three-story residential buildings and a 7,800-square-foot clubhouse. Apartment Realty Advisors brokered the deal. The buildings have a variety of floor plans, direct-access and attached garages, private entries, and views of a preserve area, courtyard, and lake.
Private investors in Los Angeles bought an apartment community from 9017 Langdon Ave. Apartments in Arcadia, Calif., for $2.2 million. Sperry Van Ness brokered the deal. The community, built in 1963, is 98 percent occupied and consists of four studio units, seven one-bedroom and one-bathroom units, and 13 two-bedroom and one-bathroom units.
Overbrook V Apartments refinanced the Overbrook Apartments–Phase V in Little Rock, Ark., with a $4.7 million loan from Greystone Servicing Corporation. The Overbrook V Apartments, which were built in 1985, consist of three three-story buildings and four two-story buildings on a 4.94-acre site. The buildings contain one-, two-, and three-bedroom units.
Columbus-based Kontogiannis & Associates refinanced Tuttle’s Grove II, an existing FHA-insured apartment property in Dublin, Ohio. The property, which originally was built in 1998, contains 297 units among 33 two-story buildings. The property consists of 60 one-bedroom units, 176 two-bedroom units, and 61 three-bedroom units and has a swimming pool, whirlpool/spa, tennis courts, clubhouse, fitness center, extra storage, and gated entrance.
MG Maya Linda Apartments, a part of San Diego-based MG Properties, acquired the 360-unit Maya Linda Apartments in Phoenix for $15.9 million. Sierra Capital Partners of Irvine, Calif., provided the loan for the purchase. The property features two- and three-story, garden-style buildings.
The Teachers Insurance & Annuity Association went through Melody, the real estate investment banking arm of CB Richard Ellis, to arrange permanent financing of $10 million for The Woodland Apartments in Latham, N.Y. The garden-style complex, built in 1996, has 22 residential buildings on a 30-acre parcel of land.
Decron Properties bought Bay Club Apartments, a property consisting of 205 apartment units and 253 boat slips, in Marina Del Ray, Calif. Meridian Capital’s New York headquarters negotiated a floating rate loan that offered $25 million up front and $13 million over three years. Built in 1971, the property consists of three levels of residential space over parking.
Ashkenazy & Agus Ventures used $32.75 million in financing from Holliday Fenoglio Fowler to acquire and convert Sunset Lake (formerly known as Courtney Place at Metrowest) to condos. The 238-unit, Class A multifamily community in Orlando, is situated on a 28-acre site and has one-, two-, and three-bedroom units.
MGF Arbor Chase acquired the 100-unit Arbor Chase Apartments in Kent, Wash., for $6.3 million. The property features 11 one- and two-story wood frame garden-style buildings with 72 two-bedroom apartments and 28 three-bedroom units. The units feature complete kitchens with a full-size range, dishwasher, disposal, and stainless steel sinks as well as cable television and high-speed Internet access.
–Listings compiled by Les Shaver
