Tuesday, May 26, 2026
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Acquisitions

Platform-Urban-Apt-San-Jose-CA
AcquisitionsCaliforniaMultifamilyWestern

Oaktree, MG Properties Buy 551-Unit Platform Urban Apartments in San Jose

by Amy Works

SAN JOSE, CALIF. — Funds managed by Oaktree Capital Management, in a joint venture with MG Properties, have acquired The Platform Urban Apartments in San Jose for an undisclosed price. The transit-oriented property features 551 apartments and 35,000 square feet of ground-floor retail space. Completed in 2019, the community is situated in the Berryessa submarket of San Jose. Eastdil Secured represented the undisclosed sellers. TPG Real Estate Finance Trust, an affiliate of TPG, provided an acquisition loan for the buyers. Eastdil Secured arranged the loan.

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47071-Bayside-Pkwy-Fremont-CA
AcquisitionsCaliforniaLife SciencesWestern

DHC Purchases Life Sciences Facility in Fremont, California for $82M

by Amy Works

FREMONT, CALIF. — Diversified Healthcare Trust (Nasdaq: DHC) has acquired a life sciences building, located at 47071 Bayside Parkway in Fremont, for $82 million. The name of the seller was not released. The recently renovated facility features 89,000 rentable square feet of lab and corporate headquarters space. The property is 100 percent leased to Alamar Bioscience through January 2034. With this acquisition, DHC now owns four life sciences assets totaling approximately 327,000 square feet in the Bay Area, in addition to its joint venture investment in two properties located in the same market.

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2777-E-Camelback-Rd-Phoenix-AZ
AcquisitionsArizonaOfficeWestern

Lincoln Property Co. Sells 109,291 SF Office Building in Phoenix for $34M

by Amy Works

PHOENIX — LPC Desert West, the Southwest division of Dallas-based Lincoln Property Co., has completed the disposition of Twenty Seven Camelback, a Class A office building located in Phoenix’s Camelback Corridor. Rosebud Properties acquired the asset for $34 million. Located at 2777 E. Camelback Road, Twenty Seven Camelback features 109,291 square feet of office space. After acquiring the property in 2017, LPC implemented a renovation program, including an upgraded lobby, new conference facility, outdoor lounge area, and improved signage, landscape and hardscapes. Other amenities at the property include touchless entries, 13-foot ceilings, modern open layouts with exposed concrete aesthetics, flexible 36,000-square-foot floor plates and a two-level subterranean parking garage with direct elevator access to tenant spaces. At the time of sale, Twenty Seven Camelback was 87 percent occupied. Current tenants include UMB Bank, Abrazo Medical Group and Lavidge. LPC will continue to manage and lease the building for the new owners. Barry Gabel and Chris Marchildon of CBRE represented the seller in the deal.

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AcquisitionsMultifamilyTexas

Capstone Arranges Sale of Two Manufactured Housing Properties Totaling 322 Sites in Houston Area

by Taylor Williams

HOUSTON — Capstone has arranged the sale of two manufactured housing properties totaling 322 sites in the Houston area. Anderson Oaks is a 177-site community on the city’s south side, and Chase Village is a 145-site property in the eastern suburb of Baytown. The properties had a combined occupancy rate of 97.5 percent at the time of sale. Ian Hilpl, Kevan Enger, Brian Hummell and Hunter LaRocca of Capstone represented the seller and procured the buyer in the transaction. Both parties requested anonymity.

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AcquisitionsRetailTexas

Disney Investment Group Negotiates Sale of 113,772 SF Shopping Center in Metro Austin

by Taylor Williams

GEORGETOWN, TEXAS — Dallas-based brokerage firm Disney Investment Group (DIG) has negotiated the sale of Republic Square, a 113,772-square-foot shopping center located in the northern Austin suburb of Georgetown. At the time of sale, the center was roughly 93 percent leased to a roster of 31 tenants that includes Dollar Tree, Harbor Freight, Starbucks, Chipotle Mexican Grill and Pizza Hut. David Disney and Adam Crockett of DIG represented the seller, Dallas-based LRIC Properties, in the transaction and procured a California-based private partnership as the buyer.

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AcquisitionsLife SciencesMidwestMinnesota

Abbott Laboratories Life Sciences Campus in Suburban Minneapolis Trades Hands

by Kristin Harlow

MINNETONKA, MINN. — The Abbott Laboratories life sciences campus in Minnetonka has traded hands for $53 million. The four-building campus totals 280,289 square feet and contains lab, manufacturing, office and warehouse space. Across the buildings there are 26 dock doors, seven drive-in doors and 640 parking spaces. Colin Ryan, David Berglund and Erin Fitzgerald of JLL and Judd Welliver and Bentley Smith of CBRE co-marketed the property on behalf of the seller, a joint venture between Eagle Ridge Partners and Syndicated Equities. Virtus Real Estate Capital was the buyer.

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AcquisitionsIndianaMidwestRetail

Osborne Group Brokers $29M Sale of CarMax-Occupied Retail Property in Carmel, Indiana

by Kristin Harlow

CARMEL, IND. — Gallelli Real Estate’s The Osborne Group has brokered the $29 million sale of a retail property occupied by CarMax Auto Superstore in the Indianapolis suburb of Carmel. The two-building property spans 55,536 square feet and features a main showroom, customer receiving bay, service shop and auto cleaning area. Robb Osborne and Kannon Kuhn of Osborne Group, along with Alex Davenport of Colliers, marketed the property on behalf of the seller, an entity doing business as MAX 22 LLC. Osborne’s team procured the buyer, Realty Income Corp. Used car dealer CarMax operates more than 220 locations across the United States.

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The-Mark-Parsippany
AcquisitionsMultifamilyNew JerseyNortheast

JLL Arranges $82.5M Sale of The Mark Parsippany Apartments in Northern New Jersey

by Taylor Williams

PARSIPPANY, N.J. — JLL has negotiated the $82.5 million sale of The Mark Parsippany, a 212-unit apartment complex in Northern new Jersey. The property offers one- and two-bedroom units with an average size of 911 square feet that are furnished with stainless steel appliances, quartz countertops, kitchen islands and individual washers and dryers. According to Apartments.com, amenities include a pool, fitness center, clubhouse, resident lounge, conference room and a pet washing station. Jose Cruz, Steve Simonelli, Kevin O’Hearn, Michael Oliver and Joseph Lembo of JLL represented the seller, an affiliate of Harbor Group International, in the transaction. The buyer was an affiliate of The DSF Group, an investment firm with offices in Boston and Washington, D.C.

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AcquisitionsMultifamilyNorth CarolinaSoutheast

CRC Acquires Apartment Community in Downtown Raleigh for $36.5M

by John Nelson

RALEIGH, N.C. — Continental Realty Corp. (CRC) has purchased 800 St. Marys Apartments, a 65-unit multifamily community located at 800 St. Marys St. in downtown Raleigh’s Glenwood South neighborhood. Built in 2020 by Selwyn Property Group and Southeast Apartment Investors, 800 St. Marys is a four-story elevator building with townhomes and attached garages. Units come in one-, two- and three-bedroom floor plans ranging from 963 to 1,666 square feet, with an average unit size of 1,224 square feet. The community was 95 percent occupied at the time of sale. Community amenities include an outdoor terrace with a kitchen, fire pit with seating, fitness center, clubhouse equipped with flat screen TVs, wine lockers, complimentary coffee bar, business lounge with private conference center and a controlled-access parking garage. Adam Randall and John Westby-Gibson of Newmark originated an undisclosed amount of Freddie Mac acquisition financing on behalf of CRC, which purchased the asset through its Core Multifamily Fund LP in partnership with Baltimore-based Brown Advisory in an off-market transaction.

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AcquisitionsData CentersDevelopmentIndustrialMidwestNorth DakotaTop Stories

Bitzero to Redevelop Cold War-Era Missile Defense Site in North Dakota into Secure Data Center for $500M

by Jeff Shaw

NEKOMA, N.D. — Bitzero Blockchain Inc. has agreed to acquire the Stanley R. Mickelsen Safeguard Complex (SRMSC) in Nekoma, a tiny city of fewer than 50 residents approximately 130 miles south of Winnipeg, Canada. The Cavalier County Job Development Authority (CCJDA) is selling the property to Bitzero, which plans to redevelop the asset into a highly secure data center. The project costs, including the acquisition, are estimated at $500 million. Commonly referred to as “The Pyramid,” the SRMSC is a Cold War-era military installation which was built in 1970 to protect the nearby Grand Forks Air Force Base from potential attack from Soviet missiles. The Pyramid became operational in 1975, featured two different kinds of radar systems and data processing equipment, and controlled 30 anti-ballistic missiles that could be launched in case of attack. The main building features three-foot-thick concrete walls. The missile site was abandoned after just eight months in operation, when Congress voted to deactivate it. The missiles and equipment were removed, but the concrete structures remain on the landscape. The CCJDA has owned the site’s tactical area since 2017, but voted unanimously to accept Bitzero’s bid proposal after a presentation from CEO Akbar Shamji. Bitzero’s bid proposal for the site included a …

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