REBusinessOnline

NexPoint Sells Apartment Complex in Metro Atlanta for $101M

SANDY SPRINGS, GA. — NexPoint Residential Trust has sold Edgewater at Sandy Springs, a 700-unit apartment complex in Sandy Springs, for $101 million. According to Fulton County property deeds, Bridge Investment Group acquired the property for $132,000 per unit. Edgewater at Sandy Springs offers one- and two-bedroom floor plans. The asset is located at 7600 Roswell Road, 19 miles north of downtown Atlanta. Communal amenities include a swimming pool, clubhouse, car wash area, business center, …

Marcus & Millichap Brokers $1.6M Sale of Multifamily Property in Brooklyn

NEW YORK CITY — Marcus & Millichap has brokered the $1.6 million sale of a multifamily property in Brooklyn. The six-unit apartment building is located at 276 19th St.. Jakub Nowak, Matthew Resenzweig and Jesse Kay represented the seller, a private individual, in the transaction. The team also secured and represented the buyer, an undisclosed limited liability

Ackerman, MDH Partners Acquire Mixed-Use Project in Atlanta’s West End for $40.3M

ATLANTA — Ackerman & Co. and MDH Partners have acquired the four-building, 433,204-square-foot Lee + White project in Atlanta’s West End for $40.3 million. The seller, Stream Realty Partners, recently redeveloped the buildings, which were initially constructed as industrial facilities in the 1950s and 1960s. The Lee + White buildings are currently home to breweries, restaurants, retailers and food manufacturers. The buyers plan to add a 20,000-square-foot food hall, 30,000 square feet …

CHC Hotel Capital Arranges $11.9M Acquisition Financing for Hotel in Hoover, Alabama

HOOVER, ALA. — CHC Hotel Capital has arranged an $11.9 million acquisition loan for Residence Inn in Hoover. Local hotelier Chiman Patel in partnership with Kana Hotels purchased the 118-room property. Kana will manage the hotel. An undisclosed national lender provided the 10-year loan with a fixed 3.8 percent interest rate and a 30-year amortization schedule. Blackstone sold the asset, which is located about 10 miles south of downtown

Cushman & Wakefield Negotiates $6.7M Sale of Flex Buildings in Charlotte

CHARLOTTE, N.C. — Cushman & Wakefield has negotiated the $6.7 million sale of Hawkins @ Rampart, a 1.2-acre property comprising two flex buildings in Charlotte’s South End totaling 19,120 square feet. The adjacent buildings were constructed in 1987 at 2170 Hawkins St. and 210 Rampart St., two miles south of downtown Charlotte. The assets were fully leased at the time of sale to three tenants. Rob Cochran, Jared Londry and Nolan Ashton of Cushman & Wakefield represented the seller, …

Berkadia Arranges $108.7M Acquisition Loan for 800-Unit Apartment Community in Los Angeles County

LANCASTER, CALIF. — Berkadia has secured $108.7 million in acquisition financing for Afton Property’s purchase of Sunset Ridge Apartments, an 800-unit, mixed-income, garden-style multifamily community in Lancaster. Berkadia originated the 15-year, fixed-rate loan, which was purchased by Freddie Mac. The financing features eight years of interest-only payments through Freddie Mac’s Targeted Affordable Housing program. Mitch Sinberg, Matthew Robbins and Abigail Beauchamp of Berkadia’s …

Rexford Industrial Acquires Eight-Building Industrial Park in Southern California for $66.2M

TORRANCE, CALIF. — Rexford Industrial Realty has purchased an eight-building industrial portfolio in Torrance for $66.2 million, or $247 per square foot. The acquisition was funded using cash on hand. The name of the seller was not released. Comprised of four single-tenant buildings and four two-tenant buildings, the asset offers a total of 267,503 square feet of industrial space on 14.2 acres. At the time of sale, the complex was 91 percent leased. Rexford plans to complete capital …

The Mogharebi Group Negotiates Sale of 111-Unit Seniors Housing Community in Southern California for $12M

CHULA VISTA, CALIF. — The Mogharebi Group (TMG) has arranged the sale of Pacific Pointe Active Senior Living, a 111-unit active adult community in Chula Vista. A San Gabriel Valley-based private investor sold the community to a Los Angeles-based buyer for $12 million. Pacific Pointe is in downtown Chula Vista, located between San Diego and the border of Mexico. The property is within a mile of Scripps Mercy Hospital Chula Vista, Interstate 5 and over 1 million square feet of …

CBRE Brokers Sale of 85,500 SF Office Building in San Francisco’s Jackson Square District

SAN FRANCISCO — CBRE has arranged the sale of an office building located at 747 Front St. in San Francisco’s Jackson Square district. Polidev sold the asset to Bridgeton Holdings for an undisclosed price. Built in 1909, the four-story, 85,500-square-foot property has undergone substantial creative improvements in recent years, including open floor plans and expansive windows that showcase the 12- to 15-foot clear heights. The property also features a private roof deck with 360-degree …

Equus Capital Buys 299,898 SF Office Complex in Plano

PLANO, TEXAS — Pennsylvania-based investment firm Equus Capital Partners Ltd. has purchased Legacy Place, a two-building office complex totaling 299,898 square feet in the northeastern Dallas suburb of Plano. Both six-story buildings were built in the late 1990s and are situated on a 15.3-acre site along Tennyson Parkway. Equus Capital will undertake a multimillion-dollar repositioning program that will deliver an enhanced outdoor patio and collaboration area, upgraded lobby, expanded fitness …

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