"Even with a slowdown in the national housing market, the Arlington portfolio attracted more than expected bids and interest from potential buyers," EVP Carl Christie of NAI Hunneman says in a statement. "We were able to get the right price for the property."

For the purchase, Arlington Minuteman Towers secured a $9.35-million loan from an undisclosed local lender. The loan proceeds were broken up into two traunches of $1.25 million--secured by the three houses--and $8.1 million, secured by the three apartment buildings. The debt on the homes was provided at a 6.25% fixed rate over five years at an 80% loan-to value with the three apartment buildings' loan was taken at 5.79% fixed for 10 years and debt service calculated on a 30 year amortization. The financing was secured for Arlington by Cornerstone Realty Consultants.

"By achieving these low rates we were able to exceed our client's expectations on loan proceeds and assist [Arlington Minuteman] in closing on this rare opportunity to acquire these sought after assets in Arlington," says Paul Natalizio of Cornerstone, in a statement.