EVANSVILLE, IND. — The Investment Properties Group of SRS Real Estate Partners has arranged the sale of an 81,619-square-foot shopping center in Evansville, a city in Southwest Indiana. The sales price was $4.7 million. The fully leased property is home to Big Lots, Ruler Foods and Barton’s Home Outlet. Kyle Stonis and Pierce Mayson of SRS represented the seller, Bodin Properties 6 LLC. The buyer was Anchor Investments LLC.
BEAVERTON, ORE. — Los Angeles-based Trion Properties has acquired a 302-unit multifamily portfolio in Beaverton for $94.8 million. The portfolio consists of Jasper Place, Jasper Square and Willow Grove. Trion acquired Jasper Place and Jasper Square in association with anchor investor Promus Realty Properties. Trion plans to execute strategic upgrades and utilize its vertically integrated property management platforms to improve operations and address deferred maintenance. Constructed in 1986, Jasper Place features 100 apartments in a mix of one-, two- and three-bedroom layouts spread across 19 two-story residential buildings. The community features a pool, fitness center, sports courts and leasing office. Additionally, 58 percent of the units have been upgraded and each unit has an individual garage. The community is located at 18300 NW Walker Road. Located at 15194 SW Walker Road, Jasper Square offers 83 apartments in a mix of one-, two- and three-bedroom floor plans across 15 residential buildings. Existing amenities include a pool, fitness center and leasing office. Additionally, 55 percent of all unit interiors have been upgraded and each unit features a garage. Jasper Square was constructed in 1986. Built in 1988, Willow Grove features 119 apartments in a mix of one-, two- and three-bedroom layouts at …
BOULDER, COLO. — Brickstone Partners has acquired Kensington Apartments near the University of Colorado Boulder for $71 million. The property offers 163 units one block from the university’s campus. Shared amenities include a clubhouse, fitness center, indoor swimming pool and on-site laundry facility. Brickstone plans to begin a comprehensive two-year renovation program, which is set to incorporate upgrades to unit interiors including cabinetry, countertops, appliances, flooring, lighting and plumbing fixtures; extensive enhancements to the property’s shared amenity spaces and clubhouse; refreshed exterior landscaping; and the addition of upgraded safety features. “We are excited to add Kensington to our extensive portfolio of Colorado communities and for the opportunity to enhance the property to better serve the needs and desires of its residents and of this great city and institution,” says Brickstone founder Daniel Otis.
COLORADO — Evans Senior Investments (ESI) has arranged the sale of seven skilled nursing facilities in Southwest Colorado for $51.5 million, or approximately $92,000 per bed. An owner-operator sold the 558-bed portfolio to an East Coast-based owner-operator looking to expand its reach in the West. The properties were built between 1957 and 2017. Prior to the COVID-19 pandemic, the portfolio was 77 percent occupied and produced nearly $6.2 million in annual net operating income. Throughout the pandemic, the portfolio’s occupancy decreased and at the time of marketing was only 65 percent occupied. “The competitive bidding arena and strong price per bed for a rural portfolio whose census and cash flow were well below stabilized levels showcases the willingness of buyers and lenders continuing to work together to get deals finished with the headwinds that they continue to face,” says Brendan DeSilvia, associate at ESI.
DENVER — Denver-based Flywheel Acquisitions has purchased an infill office building on nearly 2.3 acres in Denver. 4100 Investors LLC sold the asset for $14.7 million. A single tenant occupies the full, three-story property. Aaron Johnson, Jon Hendrickson and Mitch Veremeychik of Cushman & Wakefield represented the seller in the transaction. Located at 4100 E. Arkansas, the 63,335-square-foot asset is surrounded by walkable restaurant and retail amenities. Additionally, the property offers a fitness center in the building.
PLANO, TEXAS — JAH Realty, a retail investment firm with offices in Dallas and Oklahoma City, has acquired Park West Plaza, a 191,103-square-foot shopping center in Plano. The property sits on 17 acres and was 98 percent leased at the time of sale to tenants such as Aldi, Elliot’s Hardware, Nadine Floor Co., CiCi’s Pizza, Dairy Queen and Firehouse Subs. Los Angeles-based ASG Real Estate Co. sold the property to JAH Realty for an undisclosed price. Chris Harden and Kris Von Hohn of Cushman & Wakefield brokered the deal. Southside Bank provided acquisition financing.
WACO, TEXAS — A partnership between Dallas-based SkyWalker Property Partners and Utah-based Zelevie Health has purchased the Healthcare Resort of Waco, a116-bed seniors housing facility. The 77,000-square-foot property, which was completed in 2015 but closed in 2018 due to a tenant-landlord dispute, consists of 30 assisted living beds and 86 skilled nursing beds. Amenities include multiple lounges, a media room and outdoor terraces with gathering spaces and a putting green. The seller was an affiliate of Kawa Capital Management. The new ownership plans to invest in a capital improvement program and reopen the facility in the fourth quarter.
CEDAR GROVE, N.J. — Fort Worth-based investment firm MAG Capital Partners has acquired a 144,025-square-foot manufacturing facility in the Northern New Jersey community of Cedar Grove. Built on 13.9 acres in 1984 and renovated in 2020, the single-story facility features a clear height of 25 feet. MAG Capital Partners acquired the property from Contract Filling Inc. (CFI), a provider of fragrances, deodorants and cosmetic products. Harvey Pava and Jordan Shea of Walker & Dunlop advised the buyer on debt financing. A sale-leaseback transaction was completed with private equity firm CORE Industrial Partners’ portfolio company Arizona Natural Resources (ANR), which announced its acquisition of CFI in mid-August.
CHICAGO — Newcastle Properties has acquired Forest View shopping center in Chicago for an undisclosed price. Jewel-Osco anchors the 68,727-square-foot property, which is located at the corner of Cumberland and Lawrence avenues. The sale marks the first time the property has sold since it was built in the mid-1960s. Len Blackman of Leklen Realty Group and Michael Horne of Newcastle sourced the off-market acquisition. Drew Trammell of Newcastle managed the due diligence process and closing. Seller information was not provided.
WETHERFIELD, CONN. — Connecticut-based New England Retail Properties has arranged the sale of six single-tenant retail properties located throughout The Constitution State for a combined price of $10.5 million. The properties, all of which are net leased to lawn and pet products retailer Smithland Supply, are located in Manchester, Southington, Bethel, North Haven, Middlefield and North Branford. Matt Halprin of New England Retail Properties represented the sellers in the transactions.
