The 36-unit Colonial Apartments at 3215 Clarksville St in Paris sold for an undisclosed price to a DFW investor repped by Marcus & Millichap Real Estate Investment Services multifamily specialist Boyan Radic. John Barker, multifamily specialist for M&M?s Dallas office, exclusively repped the seller, an out-of-state private investor. *** HFF worked exclusively on behalf of the borrower, McDougal Cos, to secure the five-year fixed-rate loan for $25.87M with Freddie Mac for The Suites at Overton Park, a 298-unit community across from Texas Tech's campus in Lubbock. Loan proceeds retired construction debt that HFF had arranged for the property in December 2007. The Suites at Overton Park is 99% leased. *** Walker & Dunlop provided a $4.1M permanent refinance loan for 185-unit garden-style apartment community Waterside Village in Lubbock. The loan was structured with a 10-year fixed-rate term and a 30-year amortization. The loan was underwritten to 65% LTV. The community was 91% leased at closing. Walker & Dunlop loan officer Alex Inman originated the loan. *** A local investor purchased about 8,000 SF of land at 1030 and 1034 Elm Street in Carrollton for office, tech, distribution, and warehouse space. Capstone Commercial's Eric Morgan handled the negotiations. The seller is Brad Blankenship Commercial Investments. *** Transwestern's Dallas Multifamily Group brokered the sale of Timmaron Ridge Apartments at 9850 Whitehurst Dr in Dallas. The 196-unit apartment community was sold out of receivership. Transwestern generated 135 registrants, 19 tours, and 21 offers during marketing. At closing, the property was 60% occupied and in need of capital improvements. Knightvest Capital was the purchaser (its fifth closing with Transwestern Dallas). Knightvest plans to boost revenue through a major renovation and rent roll upgrades. Transwestern's Mark Freeman and Taylor Snoddy represented the seller, an institutional special servicer based in Florida. |