Multifamily

LOS ANGELES-The buyer of the La Fayette Heights apartment complex plans to upgrade all of the units in a value-add deal.

ALBANY-A consortium of three state housing agencies approves $45 million in affordable housing financing for projects in New York City and upstate.

GAINESVILLE, FL-With a construction loan from SunTrust Banks Inc., the first phase of the Bartram project is expected to open in May 2008.

BRADENTON, FL-Klingbeil Capital Management paid approximately $42,307 per unit to Tarragon Realty Investors Inc. for the 10-building complex near Sarasota. The property was 90% occupied at the closing of the sale.

SAN DIEGO-Palo Alto-based Pacific Property Co. trades its Mountain Ranch Apartments to locally based HR Partners for $44.5 million. The transaction price includes the assumption of approximately $27 million in existing debt.

LAKEWOOD, CO-The property includes 200 units in nine buildings, plus a clubhouse, on 9.2 acres. It was bought by a partnership formed by a California-based multifamily developer and the Lakewood Housing Authority.

MIAMI-The 27-story, 142-unit upscale condominium tower, being developed here by SunVest/Hamilton, is set to be completed in late 2005. Units are priced from $275,000 to more than $1 million.

MIAMI-The as-yet-unnamed project will consist of 81 condominium units in five currently vacant buildings. The project, which is the third for Prodigy International Development Sales, has a sellout value of about $40 million.