Vice President Christian Vaughan of Northmarq’s National Healthcare Group recently brokered the $13.5 million sale leaseback of two outpatient primary care properties in Noblesville, Indiana. The seller was Riverview Hospital, and the buyer was Four Corners Property Trust.

The portfolio totals 32,744 square feet and includes Riverview Health’s Noble Creek (205 Noble Creek Drive) and Westfield (865 Westfield Road) locations. The tenant operates on long-term, triple net leases, and the transaction was priced at a 7.3% cap rate.

“This was a great seller and buyer match to transact on two essential outpatient facilities, via a long-term sale-leaseback agreement,” said Vaughan. “Strategically located near the hospital, the sites are essential to the tenant, delivering critical care to the local community in which demand for services is rapidly growing. The long-term favorable outlook and critical nature of these medical outpatient buildings present a strong investment for the buyer.”

A Northmarq Carolinas Multifamily Investment Sales team completed the $49.25 million sale of Ryder Junction, a 264-unit multifamily community located at 900 Conductor Circle in Greer, South Carolina. Northmarq also arranged financing on behalf of the borrower, The Beach Company, through its in-house Fannie Mae DUS platform. The $31.675 million permanent-fixed loan was structured on a five-year term. Northmarq represented the seller, Proffitt Dixon Partners.

Built in 2023 and located in the Greenville submarket, Ryder Junction features one-, two- and three-bedroom apartments that include a clubhouse, resort-style pool, dog park and dog wash station, outdoor grilling areas, conference room and co-working suites, game and Wi-Fi lounge, electric vehicle charger, modern fitness center with flex studio, covered outdoor lounge with a fireplace, and available detached garages.

Northmarq’s sales team included Andrea Howard, John Currin, Allan Lynch, Caylor Mark, Jeff Glenn, and Austin Jackson. Northmarq’s Carolinas Debt + Equity team, led by Faron Thompson, Grant Harris and Cabell Thomas, collaborated on the deal. 

Northmarq’s Los Angeles Manufactured Housing Investment Sales team of Jeff Benson, managing director, and Sam Neumark, senior vice president, brokered the sale of a three-property manufactured housing portfolio in the Pacific Northwest for $14.3 million.

The portfolio totals 213 spaces and includes Oaks Mobile Home Park and Woodlands Mobile Home Community in Woodland, Washington, as well as Western Star Mobile Home Community in Roseburg, Oregon.

Northmarq represented the seller and buyer on both transactions. Western Star Mobile Home Community was acquired by Harmony Communities, a private investment group based in Vancouver, BC. The Woodland communities were acquired by Hurst and Son LLC, a private investor based in the Pacific Northwest.

“The sale of the Pacific Northwest Portfolio demonstrated that despite the volatility in the capital markets, demand for quality assets in strong locations — such as Oregon and Washington — remains quite strong,” said Managing Director Jeff Benson.

Northmarq secured a $55 million refinance of Lincoln at Dilworth, a 379-unit multifamily property in Charlotte, North Carolina. Built in 2018 and located at 905 Kenilworth Ave., Lincoln at Dilworth is conveniently located near Uptown Charlotte. The property boasts close proximity to four museums, Bank of America Stadium, Spectrum Center, Freedom Park and Elizabeth Park. 

A Northmarq team of Ernest DesRochers and Dylan Hamer arranged financing on behalf of the borrower, Lincoln Ventures LLC, through a correspondent relationship with Lincoln Financial Group. The permanent fixed loan was structured on a 4-year term.

Lincoln at Dilworth features studio, one- and two-bedroom units with options for a private patio or balcony.  Residents also have access to a rooftop lounge with stunning skyline views, a resort-style pool with aqua sundeck, a two-story fitness center, concierge services, a pet spa and bark yard, game room, covered outdoor kitchen/bar and TV lounge. 

Northmarq’s Westlake Village Multifamily Investment Sales team led by Jim Fisher, Mike Smith, Vince Norris and Tommy Yates has listed a four-property senior living portfolio totaling 705 units. Northmarq is representing the seller. Asking price was not disclosed.

The mixed-income, age-restricted portfolio across Los Angeles and Orange Counties offers an investor an immediate presence in the senior housing market and includes the following properties:

• Coventry Court Luxury Senior Apartments | 240 units, Tustin
• Burbank Senior Artists Colony | 141 units, Burbank
• NoHo Senior Arts Colony | 126 units, North Hollywood
• The Piedmont Luxury Senior Apartments | 44 units, North Hollywood

“This exceptional portfolio offers buyers immediate scale in the Southern California senior housing market,” said Fisher. “Seniors are the fastest growing sector of the population, and these four assets provide best-in-class living with innovative amenities. In a market with a scarcity of available product, these deals provide great long-term investments with significantly below market rate assumable financing.”

Zalmi Klyne, SVP and managing director of Northmarq’s Los Angeles Debt + Equity team, secured the internal refinance of Park Place Apartments, a 47-unit multifamily property in Lancaster, for $8.28 million. Northmarq arranged financing on behalf of the borrower, a private investor, through its in-house Fannie Mae DUS team.

The transaction was structured on a five-year term, including three years interest only. It’s on a 30-year amortization schedule.

Located at 43253 20th St. in Lancaster, one of the Antelope Valley’s largest cities, Park Place Apartments was built in 1984 and features 10 two-story buildings. Residents have convenient access to Greater Los Angeles’ major employers, amenities and recreation as well as community amenities like a resort-style swimming pool and courtyard.

Northmarq SVP/managing director Stuart Oswald arranged the $35-million refinance of The Lodge at Mallard’s Landing. The 147-unit, private-pay independent living, assisted living and memory care community is located in Gig Harbor, WA, 10 miles north of Tacoma, and is managed by locally based Senior Services of America. 

This is the third financing Northmarq has arranged for the property over the past decade. “We are grateful to have been chosen again for this financing assignment,” said Oswald. “Fortunately, I toured the property with the lender three years ago, and it has remained on their radar since that visit.” 

The six-year, fixed-rate loan was rate locked at just under 6% and was arranged by Northmarq through its relationship with a correspondent life insurance company. It features an earn-out component that allows the borrower to draw additional dollars as the NOI improves.