The Los Angeles and Orange County markets both ranked among the 10 lowest cap rate markets in the country.

Howell, NJ-based brokerage firm Capital Realty Associates, reports it brokered the sale of 458-460 and 549-551 Mercer St. for $2.25 million, which calculated out to a 5% cap rate.

The two residential towers (19 and 21 stories) will accommodate approximately 1,000 students in single, double, and suite-style units with panoramic views of the New York City skyline.

SunTrust originated a $48.49-million 10-year term loan with nine-years interest only followed by a 30-year amortization schedule for The Preserve at Henderson Beach, a 340-unit multifamily property located at 4131 Commons Drive West in Destin, FL.