SOUTHLAKE, TEXAS — Locally based hospitality investment firm NewcrestImage has purchased the 175-room Cambria Hotel Southlake DFW. The property was built in 2016 and is located roughly six miles from Dallas-Fort Worth International Airport. Amenities include an outdoor pool and game area, fitness center, business center, convenience market, lounge and a fine dining restaurant. The seller and sales price were not disclosed.
WILLIAMSBURG, VA. — Bonaventure, a multifamily owner-operator based in Alexandria, Va., has sold The Bend Arbordale, a 289-unit apartment community located at 401 Bulifants Blvd. in Williamsburg. The Inland Real Estate Group purchased the asset for $100 million. Drew White and Carter Wood of Berkadia represented Bonaventure in the sale. Situated near Sentara Williamsburg Regional Medical Center and I-64, The Bend Arbordale offers two- and three-bedroom floor plans with in-unit washers and dryers and private balconies or patios. Amenities include a swimming pool, fitness center, business center, clubhouse and a dog park.
LEXINGTON, KY. — Rosewood Realty Group has brokered the sale of Bridle Creek, a 384-unit apartment community located at 3800 Nicholasville Road in south Lexington. Missouri-based Maxus Realty Trust sold the property to Boston-based West-Shore Properties for $75 million. Aaron Jungreis and Ben Hammer of Rosewood Realty represented the seller in the transaction, and Jay Weiner, also with Rosewood Realty, represented the buyer. Built in 2002 near Shillito Park and about three miles south of the University of Kentucky, Bridle Creek features a clubhouse, pool, playground, fitness center, business center and a pet play area. West-Shore plans to make interior and exterior improvements at the community during its ownership.
GAITHERSBURG, MD. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Gaitherstowne Plaza, a 71,329-square-foot shopping center in the Washington, D.C., suburb of Gaithersburg. Manhasset, N.Y.-based Millbrook Properties purchased the center from an affiliate of the U.S. division of Israel-based BIG Shopping Centers Ltd., BIG Shopping Centers USA, for $24.5 million. Dean Zang, David Crotts and Josh Ein of IPA represented the seller in the transaction. According to IPA, the property was fully leased at the time of sale and the average tenure of tenants is over 10 years, with the tenant roster including national brands Gabe’s, AutoZone, Sherwin-Williams and IHOP on an outparcel.
DORAVILLE, GA. — CapRidge Partners, a real estate investment firm based in Austin, has purchased DeKalb Technology Center, a flex office park in Doraville spanning 285,000 square feet across eight buildings. Situated in metro Atlanta near the intersection of I-85 and I-285, which is known locally as Spaghetti Junction, the campus was 67 percent leased at the time of sale. Jordan Camp and Reid Hanner of Foundry Commercial represented CapRidge in the sale. The buyer and sales price were not disclosed. DeKalb Technology Center represents the sixth investment in metro Atlanta in the past 12 months for CapRidge, bringing the company’s local portfolio in that time span to nearly 900,000 square feet. The other acquisitions include Cobblestone Business Park, Franklin Forest, Whittier Mill Complex, Lakeridge Court and Westfork Business Park.
CHARLESTOWN, MASS. — CBRE has brokered the $96.3 million sale of The Graphic Lofts, a 171-unit apartment complex in the Sullivan Square neighborhood of Charlestown, a northern suburb of Boston. Built in 2019, the property houses studio, one-, two- and three-bedroom units with an average size of 843 square feet, as well as 5,723 square feet of retail space. Amenities include a fitness center, coffee bar, game room, community kitchen and a rooftop deck with grilling stations. Simon Butler, Biria St. John and John McLaughlin of CBRE represented the seller, an affiliate of Boston-based Berkeley Investments, in the transaction. The team also procured the buyer, an affiliate of Denver-based EverWest Real Estate Investors.
PITTSBURGH — Sealy & Co., an investment firm with offices in Dallas and Shreveport, La., has acquired The Imperial Light Industrial Portfolio, which comprises two buildings totaling 148,172 square feet in Pittsburgh. The buildings are located within the Chapman Westport master-planned development near Pittsburgh International Airport and can support office, distribution and lab uses. John Plower of JLL represented the undisclosed seller in the transaction. Jason Gandy and Davis Gibbs internally represented Sealy & Co.
GLENDALE, CALIF. — Kidder Mathews has arranged the sale of Glendale Financial Square, an office building located at 225 W. Broadway in Glendale. Two Southern California real estate investment firms taking ownership as Hacienda Associates LP acquired the asset from a partnership between three local investors (Hyun 1996-2 Family LP, Royalblue LLC and Broadway JSY LLC) for $27.5 million. Glendale Financial Square features 126,500 square feet of office space and a stable tenant base. The buyer plans to invest in upgrading the buliding’s common areas and main entry plaza. Bill Boyd, Linda Lee and Scott Unger of Kidder Mathews represented two-thirds of the seller partnership in the deal.
DENVER — Armstrong Capital Development has completed the disposition of a self-storage facility in Denver. An institutional buyer acquired the asset for an undisclosed price. Located at 7200 E. 36th Ave., the 80,400-square-foot facility consists of a three-story, climate-controlled building with 569 units ranging in size from 5-foot by 5-foot to 10-foot by 30-foot. Onsite amenities include 24-hour video surveillance, prominent visibility and convenient access to more than 68,900 vehicles per day. Built in 2019, the property was 96 percent occupied at the time of sale.
LAS VEGAS — RealComm has arranged the sale of an industrial facility in Las Vegas. JPFS LLC sold the asset to 3934 Silvestri Lane LLC for $3.8 million. Located at 3924 Silvestri Lane, the property features 16,888 square feet of industrial space. Jennifer Levine and Elizabeth Moore of RealComm Advisors represented the seller in the deal.