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Acquisitions

AcquisitionsMidwestMissouriMultifamilyNorthmarq

Northmarq Arranges $70M Sale of Luxury Apartment Complex in St. Peters, Missouri

by Kristin Harlow

ST. PETERS, MO. — Northmarq has arranged the $70 million sale of Bold on Blvd, a 272-unit luxury apartment complex in the St. Louis suburb of St. Peters. Built in 2022, the property is located at 1100 St. Peters Centre Blvd. The community was roughly 80 percent leased at the time of sale. Parker Stewart, Dominic Martinez and Alex Malzone of Northmarq represented the seller, TWG Development. A private New Jersey-based firm was the buyer. David Garfinkel led a Northmarq team that arranged acquisition financing on behalf of the buyer.

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AcquisitionsIllinoisMidwestMultifamily

Kiser Group Brokers $23M Sale of Multifamily Portfolio in Chicago

by Kristin Harlow

CHICAGO — Kiser Group has brokered the sale of a five-building multifamily portfolio in Chicago for $23 million. The 198 units are located within the West Rogers Park, Bowmanville and Budlong Woods neighborhoods and are largely vacant. Danny Logarakis of Kiser brokered the sale. The seller was a private individual that had owned the properties for more than 40 years. The buyers, Sam Trachtman and Stak Holdings LLC, plan to renovate the kitchens, bathrooms and common areas.

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The-Perry-Glendale-AZ
AcquisitionsArizonaMultifamilyWestern

Tides Equities Buys Three Apartment Communities in Metro Phoenix

by Amy Works

PHOENIX AND GLENDALE, ARIZ. — Tides Equities has purchased three multifamily properties in Phoenix and Glendale from Denver-based PaulsCorp for an undisclosed price. The portfolio includes 445 studio, one- and two-bedroom units. Constructed in 1985 and 1986, the communities were each at least 95 percent occupied at the time of sale. The portfolio includes: The Perry, a 148-unit property at 6231 N. 67th Ave. in Glendale Serena Park, a 141-unit community at 8546 N. 59th Ave. in Glendale Red Sage, a 156-unit asset at 5704 W. Thomas Road in Phoenix Brad Cooke, Cindy Cooke, Matt Roach and Chris Roach of Colliers Arizona handled the transaction.

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Pacific-Tustin-Commercenter-Tustin-CA
AcquisitionsCaliforniaIndustrialRestaurantRetailWestern

Guthrie Development Buys Pacific Tustin Commercenter Business Park in California for $19.7M

by Amy Works

TUSTIN, CALIF. — Guthrie Development Co. has acquired Pacific Tustin Commercenter, a Class A, multi-tenant, retail/industrial business park in Tustin. In this transaction, Guthrie purchased the buildings and land from two different sellers for $19.7 million, then combined the assets into one business park. The retail and industrial property offers 69,930 square feet of space. Pacific Tustin Commercenter features two multi-tenant industrial buildings and a restaurant, Citrus Café. The industrial buildings are currently 100 percent occupied under long-term leases. The asset is located at 1421, 1451 and 1481 Edinger Ave. in Tustin. Chuck Wilson, Brian Chastain and Clyde Stauff of Colliers International represented Guthrie Development in the transactions.

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AcquisitionsLouisianaSoutheastStudent Housing

Timberline Real Estate Ventures Sells 432-Bed Student Housing Community Near Louisiana Tech University

by John Nelson

RUSTON, LA. — Timberline Real Estate Ventures has sold CEV Ruston, a 432-bed community serving students attending Louisiana Tech University in Ruston. Constructed in 2008, the property offers two- and four-bedroom, fully furnished units. Shared amenities include a fitness center, group and private study rooms, a computer center and swimming pool. The community is situated adjacent to campus at 1812 W. Alabama Ave. Scott Clifton, Stewart Hayes, Teddy Leatherman, Kevin Kazlow and Jack Goldberger of JLL represented Timberline in the disposition of the property to Briar Meads Capital. The sales price was not disclosed.

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AcquisitionsFloridaRetailSoutheast

SRS Brokers $14.4M Sale-Leaseback of Single-Tenant Retail Property in Miami Leased to Walgreens

by John Nelson

MIAMI — SRS Real Estate Partners’ National Net Lease Group (NNLG) has facilitated the $14.4 million sale of a single-tenant retail property located 3595 Coral Way in Miami. Comprising 16,285 square feet, the property is occupied by the seller, Walgreens, which has signed a new 15-year, corporate guaranteed, triple-net lease. Sean Lutz, Dan Elliot, Matthew Mousavi and Patrick Luther of SRS represented the buyer, a Nevada-based private investor, in the 1031, all-cash transaction.

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AcquisitionsMarylandRetailSoutheast

Neuman Arranges $4.5M Sale of Retail Center in Metro Baltimore

by John Nelson

PARKVILLE, MD. — Neuman Commercial Group has arranged the sale of a 21,200-square-foot shopping center located at 1901‐7 E. Joppa Rd. in Parkville, roughly 10 miles northeast of Baltimore. Gil Neuman of Neuman represented the seller, Besche Realty, in the $4.5 million transaction. Originally built in 1965, the property was fully occupied by three tenants at the time of sale. The buyer was not disclosed.

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AcquisitionsHospitalityTexas

Hilco Real Estate Arranges $9.9M Sale of Hilton-Branded Hotel in Bryan, Texas

by Taylor Williams

BRYAN, TEXAS — Hilco Real Estate has arranged the $9.9 million sale of the Tru by Hilton Bryan College Station, a 98-room hotel in Central Texas. The property was built on 2.6 acres in 2018 near the Texas A&M University campus and offers a fitness center, children’s play area, meeting and event space and a lobby bar/lounge. Keith Worsham of Hilco Real Estate represented the seller, Wealth Hospitality, in the transaction. The buyer was not disclosed.

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AcquisitionsIllinoisMidwest

Transwestern Acquires MB Real Estate in Chicago

by Kristin Harlow

CHICAGO — Transwestern Real Estate Services has acquired Chicago-based MB Real Estate (MBRE), a full-service commercial real estate firm. The transaction adds 120 team members and a regional property management portfolio exceeding 12 million square feet. Founded in 1982, MBRE provides expertise in asset and facilities management, leasing services, project management, tenant representation and investment services. Its leasing and management portfolio includes high-profile properties such as Michigan Plaza, 181 W. Madison, Millennium Park and the Richard J. Daley Center. Celebrating its 45th anniversary in 2023, Transwestern is a diversified commercial real estate firm with more than 2,100 team members nationwide. MBRE began operating as Transwestern on Jan. 1. Financial terms of the transaction were not provided.

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AcquisitionsIndustrialMidwestMinnesota

JLL Arranges Sale of 376,218 SF Industrial Portfolio in Suburban Twin Cities

by Kristin Harlow

ROSEVILLE, OAKDALE AND WOODBURY, MINN. — JLL Capital Markets has arranged the sale of a seven-building industrial portfolio totaling 376,218 square feet in suburban Twin Cities for an undisclosed price. Five of the buildings are located in Oakdale, while one is in Woodbury and one is in Roseville. The portfolio is 96 percent leased to 18 tenants. Colin Ryan, David Berglund and Erin Fitzgerald of JLL represented the seller, Link Logistics, and procured the buyer, Minneapolis-based Biynah Industrial Partners. Matthew Schoenfeldt, Scott Loving and Lucas Borges of JLL arranged acquisition financing.

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