MOUNT PLEASANT, WIS. — Berkadia has arranged the sale of Tivoli Green, a 458-unit multifamily property in Mount Pleasant. Pete Evans and Richard Evans of Berkadia represented the seller, Wangard Partners Inc. The buyer was Illinois-based Santefort Real Estate Group LLC. Wangard has been retained to provide third-party management services for the community. Chris Blechschmidt and Emily Stang of Berkadia arranged acquisition financing through Freddie Mac. Tivoli Green was delivered in three phases from 2021 to 2024. The 22-building property is situated on 38 acres and features two-story townhomes.
Acquisitions
HILLIARD, OHIO — JLL Capital Markets has brokered the $20.5 million sale of Hilliard Rome Commons, a 106,922-square-foot power center in the Columbus suburb of Hilliard. Michael Nieder and Brian Page of JLL represented the seller, RCG Ventures LLC. CASTO was the buyer. Built in 2002, Hilliard Rome Commons is fully occupied and anchored by Burlington, HomeGoods, Ulta Beauty, pOpshelf, Buffalo Wild Wings and a Bank of America outparcel. The property features proximity to I-70.
HOUSTON — Colliers has brokered the sale of Northwest Technical Center, an 80,392-square-foot industrial complex located at 5201–5291 Langfield Road in northwest Houston. Ben Condara and Jon Lindenberger of Colliers represented the undisclosed seller in the transaction. The buyer, local investment firm Pine Ridge Real Estate, plans to make both interior and exterior capital improvements to the property and has also retained Colliers as the leasing agent.
CHATTANOOGA, TENN. — Hunter Advisors has arranged the sale of two hotels in Chattanooga: Residence Inn by Marriott Chattanooga and TownePlace Suites by Marriott Chattanooga. CN Hotels purchased the two hotels from an undisclosed institutional seller. The sales price was also not disclosed. Tim Osborne of Hunter brokered the transaction. The hotels total 196 rooms and are both situated off I-75 near Hamilton Place mall on the city’s east side. The 109-room Residence Inn was built in 2009 and features approximately 7,959 square feet of meeting space, and the 87-room TownePlace Suites was built in 2012.
PAOLI, PA. — A joint venture between Senior Living Transformation Co. and Sabal Investment Holdings has purchased Daylesford Crossing, a 78-unit seniors housing complex located in the western Philadelphia suburb of Paoli. Opened in 2015, Daylesford Crossing offers assisted living and memory care services and amenities such as a media room, wellness room, library and a salon, as well as an onsite healthcare facility. Dave Fasano, Ross Sanders, Cody Tremper and Mike Garbers of Berkadia represented the seller, Boston-based investment firm AEW Capital Management, in the transaction.
Joint Venture Acquires 1,035-Bed Student Housing Property Near San Jose State University for $204.7M
by Amy Works
SAN JOSE, CALIF. — A joint venture between Coastal Ridge Real Estate and Brookfield has purchased The Grand San Jose, a purpose-built 19-story student housing asset near San Jose State University, from AMCAL, Swenson and Tikehau Capital for $204.7 million. Peter Katz of Institutional Property Advisors (IPA), a division of Marcus & Millichap, along with Tony Solomon as Marcus & Millichap’s California broker of record, represented both parties in the deal. Completed in 2020, The Grand offers 206 fully furnished one-, two-, three- and four-bedroom floor plans, totaling 1,035 beds, most with private bedrooms and private bathrooms, along with fully equipped kitchens with stainless steel appliances and in-unit washers/dryers. Community amenities include a resort-style pool and spa with cabanas, a 24-hour fitness center with spin and yoga studios, study lounges on every floor, a penthouse sky deck, an outdoor movie screen, sports courts and grilling stations. At the time of sale, the property was fully occupied for the second consecutive leasing season with renewal activity supported by Fresno, Calif.-based property manager BEKK Inc., according to IPA.
PHOENIX — Los Angeles-based Sierra Ridge Capital has acquired 3137 East Elwood Street, an industrial property in Phoenix, from Arizona-based 3137 East Elwood LLC for $31 million. Gary Cornish, Nico Burgarello, Barry Gabel, CJ Osbrink and Chris Marchildon of Newmark represented the seller in the deal. Built in 1995 and renovated in 2026, the 123,032-square-foot property features a clear height of 22 feet, 10 oversized grade-level loading doors, one truckwell, secure yard space, heavy power capacity and full HVAC coverage. Situated on 9.8 acres in Phoenix’s Southbank Business Park, the property was fully leased to three tenants at the time of sale.
PLAINFIELD, IND. — Electric Plus, an Indiana-based electrical contractor, has purchased a 500,192-square-foot industrial facility in Plainfield as part of a headquarters relocation. Jason Speckman of Colliers represented the company in the $38.6 million acquisition of the property at 501 Airtech Parkway. The asset is within the Airtech business park and features cross-dock loading, a clear height of 30 feet, a temperature-controlled warehouse, extensive power resources and ample parking. Since its founding in 2006, Electric Plus has grown from three employees to more than 950 employee-owners serving clients across Indiana and beyond. The company will relocate its headquarters from Avon to Plainfield. As part of the acquisition, approximately 115,000 to 265,000 square feet will be available for lease, with Speckman leading leasing efforts.
COON RAPIDS, MINN. — Eastham Capital and Bender Cos. have acquired Woodland North Apartments, a 198-unit community in the Twin Cities suburb of Coon Rapids. South Florida-based Eastham acquired the property through its fund, Eastham Capital Fund VII LP, with its operating partner Bender. To date, Eastham and Bender have co-invested in 15 projects. Woodland North is currently 94 percent occupied with an average monthly rent of $1,424. The business plan calls for building upon recent capital improvements with additional upgrades across several apartment homes, including in-unit laundry and appliances, along with targeted enhancements to the exterior and amenities. Originally constructed in 1979, the property offers a mix of studio, one-, two- and three-bedroom floor plans averaging 1,029 square feet. More than 70 percent of the floor plans are two- and three-bedroom units. Amenities include a pool, underground heated parking, a car wash bay, community room, fitness center and tennis, basketball and racquetball courts.
STOCKHOLM AND SAN FRANCISCO — Swedish private markets firm EQT AB has announced plans to acquire real estate investment manager Stockbridge for $375 million in cash with total deal value reaching up to $550 million. Under the deal, Stockbridge, which was founded in 2003, will become part of EQT Real Estate. Stockbridge has approximately 185 employees across six U.S. offices, with around 180 institutional clients. Headquartered in San Francisco, Stockbridge currently boasts a portfolio of roughly $16.5 billion in fee-generating assets under management and a total gross asset value of $27 billion in assets under management. The company’s commercial real estate portfolio spans 92.9 million square feet and nearly 20,000 residential units. Upon closing of the transaction, Stockbridge’s diversified strategies and alternative sectors business will operate as a dedicated line under EQT Real Estate, and industrial capabilities will be integrated into EQT Real Estate’s existing industrial platform. Existing leadership and teams at Stockbridge will largely remain in place, according to EQT. Terry Fancher, CEO of Stockbridge, will become vice chair of EQT Real Estate, with Stockbridge CFO Kristin Renaudin transitioning to global CFO of EQT Real Estate. Tuba Malinowski, executive managing director at Stockbridge, will become head of U.S. diversified …