REBusinessOnline

HFF Negotiates Sale of Office, Retail Properties Totaling 421,617 SF in Dallas’ Victory Park

DALLAS — HFF has negotiated the sale of several office and retail buildings totaling 421,617 square feet within Victory Park, a 75-acre mixed-use development in Dallas. Ryan Shore, Barry Brown and Chris Gerard of HFF represented the seller, Orlando-based investment firm Estein USA. Charlotte-based Asana Partners purchased the properties for an undisclosed price in an off-market transaction. The Victory Park area, located where Uptown and downtown Dallas converge, houses approximately 3,500 …

Marcus & Millichap Arranges Sale of 4,885 SF Retail Property in Austin Leased to QuikTrip

AUSTIN, TEXAS — Marcus & Millichap has arranged the sale of a 4,885-square-foot commercial property net-leased to QuikTrip in Austin. Anthony Pucciarello and Vincent Knipp of Marcus & Millichap had the exclusive listing to market the property on a sale-leaseback basis. Derrick Dougherty, also with Marcus & Millichap, represented the buyer, which acquired the property via a 1031

Viking Partners, DRA Advisors Acquire Towers of Kenwood in Suburban Cincinnati for $80.6M

CINCINNATI — Viking Partners Fund IV LLC, in conjunction with a fund managed by DRA Advisors LLC, has acquired Towers of Kenwood in Cincinnati. Ajoint venture of Hines and a subsidiary of a real estate fund managed by Oaktree Capital Management LP sold the office property for$80.6 million, according to the Cincinnati Business Courier. Towers of Kenwood is a 404,425-square-foot, seven-story office building located at the intersection of I-71 and Montgomery Road. The property was 97 percent …

IPA Brokers $11M Sale of Skilled Nursing Facility in Urbana, Illinois

URBANA, ILL. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of the Champaign County Nursing Home in Urbana for $11 million. The skilled nursing facility includes 243 beds. Joshua Jandris, Mark Myers and Matthew Andriano of IPA represented the seller, Champaign County. The team also procured the buyer, University Rehab Real Estate

Berkadia Arranges $9.5M Sale of Multifamily Property in Milwaukee

MILWAUKEE — Berkadia has arranged the sale of Franklin Park Apartments in Milwaukee for $9.5 million. The 128-unit multifamily property was 95 percent occupied at the time of sale. Ralph DePasquale, Parker Stewart and Alex Blagojevich of Berkadia represented the seller, Milwaukee-based Brickman Real Estate and Peloton Investors. Chicago-based Tricap Residential Group purchased the

CGS3 Arranges $58M Sale of Ground Lease Interest in Brentwood Gateway Office Building in Los Angeles

LOS ANGELES — Crosbie Gliner Schiffman Southard & Swanson LLP (CGS3) has arranged the sale of a ground lease interest in Brentwood Gateway, a 10-story office building in Los Angeles’ Brentwood neighborhood. Brentwood Gateway LLC, an affiliate of Vintage Capital Group, sold the asset to Sargossa LLC, an affiliate of Fortress Investment Group, for $58 million. Located at 11611 San Vicente Blvd., the 104,716-square-foot building was built in 1977. At the time of sale, the property was …

Cronheim Mortgage Secures $17.4M Acquisition Loan for Retail/Self-Storage Facility in Sacramento

SACRAMENTO, CALIF. — Cronheim Mortgage has arranged a $17.4 million bridge loan for the acquisition of an existing retail and self-storage facility, located on 16.8 acres outside of Sacramento. DealPoint Merrill is the borrower and property owner. At the time of financing, the property was fully operational and stabilized. The financing includes future funding for the renovation and stabilization of the adjoining parcel. The three-year loan features two one-year extensions and an interest …

Senior Housing Properties Trust Sells Three Skilled Nursing Facilities in California

VAN NUYS, THOUSAND OAKS AND LASALETTE, CALIF. — Senior Housing Properties Trust has sold three skilled nursing facilities in California as part of a previously announced restructuring plan. The 276-unit portfolio included undisclosed facilities in Van Nuys, LaSalette and Thousand Oaks. The transaction, which also included a 15,647-square-foot medical office building in Thornton, Colorado, totaled $24.1 million. The buyers were not disclosed. The sales were part of SNH’s disposition …

Avison Young Negotiates $6.5M Sale of Single-Tenant Bank Location in Cerritos

CERRITOS, CALIF. — Avison Young has arranged the sale of a retail property, located at 11355 South St. in Cerritos. A private investor from Southern California sold the property for $6.5 million. Built in 1974, the 5,225-square-foot property features of 1,200 square feet of mezzanine space. Comerica Bank occupies the building on an absolute triple-net leased basis. Brian Hennessey and Armand Aghadjanians of Avison Young represented the seller, while Brian Russell of Kinnery’s …

Chatham Lodging Trust Sells Two Marriott-Branded Hotels in Western Pennsylvania for $10M

ALTOONA AND WASHINGTON, PA. — Florida-based hospitality REIT Chatham Lodging Trust has sold two Marriott-branded hotels in Western Pennsylvania for approximately $10 million. The properties include the 105-room Courtyard by Marriott in Altoona, about 100 miles east of Pittsburgh, and the 86-room SpringHill Suites by Marriott in Washington, located about 30 miles southwest of Pittsburgh. Chatham, which purchased the hotels in 2010 as part of a larger portfolio acquisition, sold the properties …

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