WESTLAKE VILLAGE, CALIF. — LTC Properties has completed the acquisition of two seniors housing communities located in Kentucky. An undisclosed seller sold the properties for $40 million. Opened in 2023, the properties together total 158 units and feature assisted living and memory care residences. Charter Senior Living manages the communities, the locations of which were not disclosed. California-based LTC plans to execute an additional $195 million in seniors housing operating portfolio acquisitions by mid-October and an additional $90 million by the end of the year.
LAKE CHARLES, LA. — Disney Investment Group (DIG) has negotiated the sale of Southgate, a 157,818-square-foot shopping center located in Lake Charles. The center has been anchored by a 37,442-square-foot Market Basket grocery store for nearly 40 years. Additional tenants at the property, which was 90.8 percent leased at the time of sale, include Dollar Tree, Office Depot, Books-A-Million and Oak Street Health. David Disney and Adam Crockett of DIG represented the seller and procured the buyer in the transaction. The sales price was not released.
ONTARIO, CALIF. — MDH Partners has purchased Ontario Commerce Park II, a four-building, 133,400-square-foot industrial asset situated within California Commerce Center in Ontario. James Hwang of MDH Partners served as acquisition lead and Michael Hefner of Voit Real Estate Services represented the undisclosed seller in the deal. Terms of the transaction were not released. Divisible to up to 19 individual units, Ontario Commerce Park II consists of two buildings at 720 and 780 S. Milliken Ave. totaling 31,448 square feet and featuring grade-level loading and 16-foot warehouse clearance; and two buildings, totaling 101,952 square feet, at 740 and 760 S. Milliken Ave. with 25- to 26-foot warehouse clearance, dock-high loading and grade-level ramps. At the time of sale, the buildings were fully leased to nine tenants.
SAN JOSE, CALIF. — A joint venture between BISON Partners and PCCP has received $29 million in acquisition financing for Bernal Plaza, an open-air retail center in San Jose. Alex Olson, Todd Sugimoto, Lauren Sackler and Danny Ryan of JLL Capital Markets secured the floating-rate acquisition loan through Forbright Bank for the borrower. The joint venture acquired the asset from a private seller, which had owned the property for 20 years, in an off-market transaction. Situated on 16 acres at 101-125 Bernal Road, Bernal Plaza offers 139,559 square feet of retail space that was 94 percent leased at the time of sale. Current tenants include Ross Dress for Less, McDonalds, Shell and a Tesla charging station.
LAS VEGAS — CBRE has arranged the sale of a 24,362-square-foot office property located at 9501 Hillwood Drive in Las Vegas. A local owner-user acquired the asset from Hillwood Properties LLC for $6.4 million. The property features an outdoor amphitheater, rotunda entrance and an auditorium. Marc Magliarditi of CBRE represented the seller in the deal.
KANSAS CITY, MO. — Berkadia has arranged the sale of Ashton Court, a 41-unit multifamily property built in 1960, and Ashton Place, a 37-unit community constructed in 1961, in Kansas City. Michael Spero, Niko Vrentas and Simon Rodewald of Berkadia represented the seller, Shawnee, Kan.-based Landmark Realty. Kansas City-based G1 Real Estate was the buyer. Additionally, the Berkadia team negotiated the sale of The Marseilles Apartments, a 28-unit property in Fairway, Kan. A private Missouri-based partnership sold the asset to Northfield, Ill.-based QMR Partners LLC. Built in 1971, the community offers a mix of studio, one- and two-bedroom units as well as a swimming pool and structured parking garage.
BROOKLYN PARK, MINN. — CBRE has negotiated the sale and acquisition financing for 610 Business Center, a 78,215-square-foot warehouse in the Minneapolis suburb of Brooklyn Park. Water Street Partners sold the asset to i3 Investors. Located at 9300 Winnetka Ave., 610 Business Center offers convenient access to I-94 via Highway 610. The facility was fully leased to Southern Graphics Systems and Twin Cities Habitat for Humanity at the time of sale. CBRE’s Bentley Smith, Judd Welliver, Zach Graham, Ryan Bain, Joe Horrigan and Michael Caprile represented the seller. CBRE’s Billy Mork, Mike Vannelli and Joel Torborg arranged a fixed-rate loan with interest-only payments for the full term on behalf of the buyer.
BATAVIA, ILL. — The Boulder Group has brokered the $4.8 million sale of a single-tenant retail property occupied by Slumberland Furniture in the Chicago suburb of Batavia. The 42,676-square-foot building is located at 165 N. Randall Road. Randy Blankstein and Jimmy Goodman of Boulder Group represented the seller, a Northeast-based real estate investor. The buyer was an investor based in the Midwest. Founded in 1967 and headquartered in Little Canada, Minn., Slumberland has grown to one of the largest furniture retailers in the Midwest with more than 120 stores in 12 states.
PISCATAWAY, N.J. — Lee & Associates has brokered the $19.4 million sale of two industrial buildings totaling 101,454 square feet in the Northern New Jersey community of Piscataway. The buildings at 121 and 131 Ethel Road W. were fully leased at the time of sale to tenants in the distribution, food production and research-and-development sectors. Drew Maffey and Joseph Komitor represented the buyer, national investment firm Longpoint, in the transaction. The seller was not disclosed.
BASKING RIDGE, N.J. — Aucta Pharmaceuticals, which specializes in the development and commercialization of branded specialty products, has purchased a 52,000-square-foot office building in Basking Ridge, about 35 miles west of New York City, for its new headquarters. Local brokerage firm The Kislak Co. represented Aucta Pharmaceuticals in the $4.6 million acquisition. The seller was not disclosed.