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Acquisitions

Highland-Bluffs-Dallas
AcquisitionsMultifamilyTexas

Westmount Realty Capital Sells 357-Unit Highland Bluffs Apartments in East Dallas

by Taylor Williams

DALLAS — Locally based investment firm Westmount Realty Capital has sold Highland Bluffs, a 357-unit apartment community in East Dallas. The property was built in 1984 and consists of 28 three-story buildings that house one- and two-bedroom units ranging in size from 465 to 1,012 square feet. Amenities include a pool, playground, outdoor picnic areas and onsite laundry facilities. Al Silva and Ford Braly of Marcus & Millichap represented Westmount Realty Capital, which invested significant upgrades during its eight years of ownership, in the transaction. The duo also procured the buyer, Dallas-based Lurin Investments.

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Canvas-Valley-Forge-King-of-Prussia
AcquisitionsMultifamilyNortheastPennsylvania

Livingston Street Capital Acquires 231-Unit Active Adult Community Near Philadelphia

by Taylor Williams

KING OF PRUSSIA, PA. — Livingston Street Capital, a private equity firm with offices in Radnor, Pa., and New York City, has acquired Canvas Valley Forge, a 231-unit active adult community located north of Philadelphia in King of Prussia. The property offers 147 one-bedroom units and 84 two-bedroom units. Indoor amenities include a fitness center, salon and spa, craft room, game room, library/media room, resident lounge, package room and concierge services. Outdoors, residents have access to a pool with a sundeck and hot tub, courtyard with grills and seating areas, a dog park with a washing station and a bocce ball court. The seller and sales price were not disclosed.

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2506-Zeppelin-Rd-Colorado-Springs-CO
AcquisitionsColoradoIndustrialWestern

NAI Highland Brokers $28.1M Sale of Airport Business Center in Colorado Springs

by Amy Works

COLORADO SPRINGS, COLO. — NAI Highland has arranged the sale of Airport Business Center, a four-building industrial park in Colorado Springs. An undisclosed buyer acquired the asset for $28.1 million. Situated on 12.7 acres, the park totals 213,240 square feet of fully leased industrial space. Additionally, the asset features 6.1 acres of surplus land for future development. The business park is located at 2510, 2520 and 2590 Aviation Way and 2504, 2506 and 2510 Zeppelin Road. Randy Dowis and Paul Engel of NAI Highland represented the undisclosed seller in the deal. Dowis and Engel are also working with the buyer on plans to develop the surplus land.

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42744-Boscell-Rd-Fremont-CA
AcquisitionsCaliforniaIndustrialWestern

Fortress Investment Group Buys Warehouse in Fremont, California for $29M

by Amy Works

FREMONT, CALIF. — Fortress Investment Group has acquired a warehouse facility in Fremont from Weiglein Properties, Sveiks Holdings and Glade Barne Holdings for $29 million. Situated on 6.3 acres at 42744 Boscell Road, the 93,385-square-foot warehouse features 6,886 square feet of office space, 26-foot clear heights, eight loading docks, 11 grade-level doors, 29 skylights with smoke vents and shades, dock-high and drive-in loading access, heavy power, 200 parking stalls and a 17,000-square-foot fenced-in, secured yard. The asset also offers 1.7 acres of unimproved surplus land. Balch Construction built the property, which Ross Reese designed, in 2000. At the time of sale, two tenants fully leased the property. Rick Keely and Greig Lagomarsino of Colliers represented seller, while Lagomarsino represented the buyer in the deal.

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Blueprint-85-Bed-Nursing-NM
AcquisitionsMultifamilyNew MexicoSeniors HousingWestern

Blueprint Arranges Sale of 85-Bed Skilled Nursing Facility in New Mexico

by Amy Works

NEW MEXICO — Blueprint Healthcare Real Estate Advisors has brokered the sale of an 85-bed skilled nursing facility in New Mexico. The property is one of New Mexico’s premier short-term rehab facilities, serving as the market-leading referral destination for the local market’s largest hospitals, according to Blueprint. It also features a 4-Star CMS-rated quality of care. The facility was experiencing census growth following an operator transition in 2019 as well as upward trending operating performance with total revenues exceeding $8.5 million. A regional owner-operator acquired the property. The seller and price were not disclosed.

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1950-S-4th-St-El-Centro-CA
AcquisitionsCaliforniaRetailWestern

Faris Lee Negotiates $5.7M Sale of Sherwin Williams-Anchored Retail Center in El Centro, California

by Amy Works

EL CENTRO, CALIF. — Faris Lee Investments has arranged the sale of a retail strip center in El Centro. A Los Angeles-based family office sold the property to an undisclosed buyer for $5.7 million. Sherwin-Williams anchors the property, which is located at 1950 S. 4th St. Matt Brooks and Joe Chichester of Faris Lee Investments represented the seller and sourced the buyer in the deal.

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AcquisitionsIndianaIndustrialMidwest

Avison Young Brokers Sale of 979,264 SF Industrial Building in Metro Indianapolis

by Kristin Harlow

INDIANAPOLIS — Avison Young has brokered the sale of Building 5 within Whiteland Exchange Business Park in the Indianapolis suburb of Whiteland. The sales price was undisclosed. Sean McHale and Peter Seoane of Avison Young represented the seller, Jones Development. DHL Supply Chain was the buyer. Avison Young was also the leasing agent for Whiteland Exchange, which totals 2.4 million square feet.

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AcquisitionsMichiganMidwestMultifamilyStudent Housing

Newmark Arranges Sale of Three Student Housing Assets Serving Michigan State University

by Kristin Harlow

EAST LANSING, MICH. — Newmark has arranged the sale of three student housing assets totaling 496 beds that serve Michigan State University in East Lansing. The sales price was undisclosed. The properties include: The Gates, a 139-bed property built in 2014; The Manor, a 56-bed building constructed in 2015; and The Tower, a 301-bed property. Amenities include controlled access, resident events, onsite parking, laundry facilities and a pedestrian bridge to campus. Ryan Lang, Jack Brett, Ben Harkrider and Debbie Corson of Newmark represented the seller, MJW Investments. Blue Vista Capital Management was the buyer.

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AcquisitionsIndustrialIowaMidwest

Sealy & Co. Acquires 221,520 SF Distribution Center in Ankeny, Iowa

by Kristin Harlow

ANKENY, IOWA — Sealy & Co. has acquired Crosswinds II, a 221,520-square-foot distribution center in Ankeny, a northwest suburb of Des Moines. The purchase price was undisclosed. The facility was completed earlier this year and features a clear height of 32 feet, 30 dock-high doors and a 136-foot truck court. Jason Gandy and Davis Gibbs led the transaction for Sealy on an internal basis. John Hassler of Newmark Zimmer represented the undisclosed seller.

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AcquisitionsMassachusettsNortheastRetail

CBRE Brokers $26.2M Sale-Leaseback of Two Honda Dealerships in Central Massachusetts

by Taylor Williams

AUBURN AND GREENFIELD, MASS. — CBRE has brokered the $26.2 million sale of the Lundgren Honda dealerships located in the Central Massachusetts cities of Auburn and Greenfield. The Auburn property was built in 2012 and spans 55,870 square feet. The Greenfield property was constructed in 2005 and totals 12,807 square feet. The family-owned and -operated dealership and its affiliate real estate company, Lundgren Equity Partners, sold the sites to Pennsylvania-based Legacy Automotive Capital. Karly Iacono of CBRE represented both parties in the transactions.

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