REBusinessOnline

Solomon Organization Sells Three Apartment Communities in Metro Charlotte for $173.5M

CHARLOTTE AND MATTHEWS, N.C. — The Solomon Organization has sold a three-property multifamily portfolio in metro Charlotte for $173.5 million. The garden-style assets include Waterford Hills Apartments, a 270-unit property that was built in 1995 at 6219 Waterford Hills Drive in Charlotte; Mission Matthews Place a 392-unit community built in 1994 at 2100 Woodway Hills Drive in Matthews; and Matthews Pointe, a 100-unit property built in 1986 at 2100 Woodway Hills Drive in Matthews. Kevin Kempf, …

Cushman & Wakefield Brokers Sale of Selano at Bridge Street Apartments in Huntsville

HUNTSVILLE, ALA. — Cushman & Wakefield has brokered the sale of Selano at Bridge Street, a 244-unit apartment community in Huntsville. California-based Steadfast Cos. purchased the community from Connecticut-based Twenty Lake Holdings for an undisclosed price. Craig Hey and Andrew Brown of Cushman & Wakefield represented the seller in the transaction. Selano at Bridge Street serves at the multifamily component of Bridge Street Town Centre, a mixed-use development comprising hotels, offices …

Franklin Street Arranges $8.4M Sale of CVS-Anchored Retail Center in Atlanta

ATLANTA — Franklin Street has arranged the sale of Parkwood Shops, a 20,397-square-foot retail strip center located at 2014 SE Powers Ferry Road in Atlanta’s Cumberland-Galleria submarket. SITE Centers purchased the center from Ronus Properties for $8.4 million. Bryan Belk and John Tennant of Franklin Street represented the seller in the transaction. CVS/pharmacy anchors the property, which was fully leased at the time of sale to tenants including Boston Market, Jersey Mike’s, Planet …

Morgan Properties Acquires Two Midwest Multifamily Portfolios for $410M

ILLINOIS AND INDIANA — Morgan Properties has acquired two multifamily portfolios totaling eight communities and 2,986 units in Illinois and Indiana for $410 million. With the addition of these new assets, Morgan Properties now owns and operates 2,035 units in Illinois, 3,692 units in Indiana and more than 95,000 units nationwide.The Illinois portfolio consists of The Lakes of Schaumburg in Schaumburg, Blackhawk Apartments in Elgin and The Gates of Deer Grove in Palatine. The Indiana …

Marcus & Millichap Brokers $22M Sale of Office Portfolio Near Cincinnati

SHARONVILLE, OHIO — Marcus & Millichap has brokered the sale of the Summit Woods office portfolio in Sharonville near Cincinnati for $22 million. The portfolio consists of two Class A buildings that were constructed in 2006 and 2015. Joseph DiSalvo, David Peirce and Alexander Nulf of Marcus & Millichap represented the undisclosed seller and procured the buyer, Shelbourne Global. The portfolio sold at 97 percent of the suggested list

Koontz Corp. Sells 340-Unit Apartment Community in College Station

COLLEGE STATION, TEXAS — San Antonio-based Koontz Corp. has sold Encino Trace Apartments, 340-unit community in College Station. Koontz completed Encino Trace, which offers one- and two-bedroom floor plans, in January 2022. Units feature stainless steel appliances, quartz countertops, brushed nickel hardware, simulated wood and ceramic tile flooring, full-size washers and dryers, walk-in closets, private patios and balconies and detached garages. Communal amenities include a pool with a …

Marcus & Millichap Brokers Sale of 309-Unit Multifamily Property in Northeast Dallas

DALLAS — Marcus & Millichap has brokered the sale of Hampton Greens, a 309-unit multifamily property in northeast Dallas. Built in 1985 on nine acres, the 16-building community offers one- and two-bedroom floor plans featuring patios or balconies, walk-in closets and exterior storage space. Amenities include a pool, business center, fitness center, clubhouse, children’s play area and onsite laundry facilities. David Fersing, Nick Fluellen and Bard Hoover of Marcus & Millichap …

JLL Negotiates Sale of 150,000 SF Office Building in West Houston

HOUSTON — JLL has negotiated the sale of 10497 Town & Country Way, a 150,000-square-foot office building in West Houston. Kevin McConn and Rick Goings of JLL represented the seller, an affiliate of metro Philadelphia-based Equus Capital Partners, in the transaction. Kelly Layne and John Ream, also with JLL, arranged an undisclosed amount of acquisition financing on behalf of the buyer, a joint venture between 35 South Capital and Lee & Associates. Independent Bank provided the

Intercontinental Real Estate, Kennedy Wilson Purchase 877,648 SF Manufacturing Facility in Stockton, California

STOCKTON, CALIF. — A joint venture between Intercontinental Real Estate Corp. and Kennedy Wilson has purchased Stockton Industrial Park, a manufacturing and distribution facility in Stockton. A New York-based owner and operator of logistics real estate sold the asset for $84 million.Located at 1604 Tillie Lewis Drive, the three-building park features 877,638 square feet of highly functional and easily divisible space. The facilities feature 24- to 28-foot clear heights, ample dock-high …

Goodegg Investments, Break of Day Capital Acquire 248-Unit Mission Antigua Apartments in Tucson, Arizona

TUCSON, ARIZ. — San Francisco-based Goodegg Investments and Manhattan Beach, Calif.-based Break of Day Capital have jointly acquired Mission Antigua, a 248-unit apartment community located in the Midvale Park area of Tucson, for an undisclosed price.Julie Lam and Annie Dickerson of Goodegg Investments and Gary Lipsky at Break of Day Capital led the acquisition teams. This is the eighth asset in Arizona for Break of Day Capital and the first for Goodegg Investments.Completed in 1989, …

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