ENGLEWOOD, COLO. — Phoenix Realty Group has acquired the 312-unit Silver Cliff Apartment Homes in Englewood for an undisclosed sum. The Class B complex is located at 5275 S. Delaware St. It was completed in 1991. The property will undergo improvements in operations, enhancements to the on-site amenities and upgrades to the apartment interiors through a value-added program.
PHOENIX — Greystar Real Estate Partners has purchased the 424-unit Green Leaf Promontory Pointe in Phoenix for an undisclosed sum. The community is located at 888 E. Clinton St. within the 1,200-acre Pointe Tapatio master-planned community. It was built in two phases in 1984 and 1996. Cliff David and Steve Gebing of Institutional Property Advisors represented both the buyer and seller, Green Leaf Partners, in this transaction.
BOSTON — L3 Capital and LaSalle Investment Management have purchased a commercial building located at 399 Washington St. in Boston’s Downtown Crossing for an undisclosed price. The buyers will renovate and rebrand the more than 77,000-square-foot building as DTX 399. The building offers six levels of retail and creative office space. The owners have retained Colliers International to market the property for lease. The name of the seller was not released.
TAMPA, FLA. — The RADCO Cos. has acquired Cordova Apartment Homes in Tampa for $41.7 million. The Atlanta-based multifamily investment firm plans to spend $7.7 million in renovations to modernize the 536-unit, Class B property under a new name, Sunstone Palms. RADCO financed the acquisition using a $36.7 million loan from Prudential Financial and approximately $15.4 million in private capital. Located less than a mile from the University of South Florida, Sunstone Palms offers one-, two-,..
HILL COUNTRY VILLAGE, TEXAS — San Antonio Commercial Advisors (SACA) has brokered the sale of The Alley on Bitters, a 30,000-square-foot shopping center located at 555 W. Bitters Road in the San Antonio metro of Hill Country Village. Bradley Suttle of SACA marketed the property on behalf of the seller, Artisans’ Alley Inc. and procured the buyer, a private trust.
HOUSTON — CBRE has arranged the sale of a 120-room Staybridge Suites hotel located at 9000 S. Main Street in Houston. Michael Yu, Rahul Bijlani, Eric Guerrero and Agrama Mannapperuma of CBRE represented the undisclosed seller in the transaction. St. Louis-based Midas Hospitality purchased the asset, its first Texas-based acquisition, for an undisclosed price.
RALEIGH, N.C. — Electra America has acquired The Flats on 401, a 300-unit apartment community located at 5721 Goodstone Drive in Raleigh. HFF’s Jeff Glenn, Justin Good and Allan Lynch brokered the transaction on behalf of the seller, a local partnership. The sales price was not disclosed, but the Triangle Business Journal reports that the asset sold for $41.6 million. Constructed in 2015, the property will be rebranded as Level at 401 with approximately $1.5 million dedicated to renovations..
CHICAGO — Interra Realty has brokered the sale of a 43-unit multifamily property in Chicago’s Rogers Park neighborhood for $3.9 million. The property is located at 7245 N. Rogers Ave. The building features a mix of 12 studios, 24 one-bedroom units and six two-bedroom units. A 1,200-square-foot, vacant commercial space is best suited for office tenants. Craig Martin of Interra represented both the sellers and the buyers, local investors.
BROADVIEW, ILL. — Printing Arts has signed a 46,973-square-foot industrial lease in Broadview, about 12 miles west of Chicago. The printing production and materials storage company will occupy the space at 2105 W. 21st St. Printing Arts is expanding from an adjacent building. Mandy Lewandowski of Darwin Realty represented the landlord, Welbic III Broadview 21 LLC, in the lease transaction.
PHOENIX — Jevan Capital has acquired the 301-unit La Reserve at Forty-Fifth apartment complex in Phoenix for $12.7 million. The community is located at 2627 N. 45th Ave. It was built in 1972. La Reserve offers one- to three-bedroom units. Amenities include three swimming pools, basketball court, three laundry facilities and two picnic areas. Brett Polachek and Jim Crews of Cushman & Wakefield Phoenix represented the seller, CEGOP-PHX 1 LLC, in this transaction.