EDGEWATER, COLO. — California-based Trion Properties has acquired Terra Village Apartments in the Denver suburb of Edgewater for $110 million, or $273,631 per unit. The seller was not disclosed. Located at 6201 26th Ave., Terra Village features 402 apartments. Trion Properties plans to upgrade the property and units with new kitchen cabinets, stainless steel appliances, tile backsplashes, updated bathrooms and washers/dryers in each unit. Elliott Polanchyck, Will McCauley, Phil Dankner, Kevin Higgins and Marc Lippitt of Unique Properties/TCN Worldwide and the Unique Apartment Group handled the transaction.
LOS ANGELES — Newmark has brokered the sale of 640 North Sepulveda Blvd., an office property located in Westside Los Angeles. Vectra Management Group sold the building to an undisclosed buyer for $32.5 million. Built in 1987, the two-story, 45,630-square-foot office building underwent a $3 million renovation in 2019. The property offers nearly 12,000 square feet of outdoor work and recreation space, including an open courtyard, outdoor patio, barbecue area, basketball court, designated pet area, water features, ping pong tables, fire pit and lounge area. At the time of sale, the building was 27 percent occupied. Sean Fulp, Ryan Plummer and Mark Schuessler of Newmark represented the seller, while David Kluth and Aliya Coher of Newmark represented the buyer in transaction.
SAN DIEGO — Stos Partners, in a joint venture with Long Wharf Capital, has completed the disposition of an industrial property in San Diego’s Miramar submarket. EverWest Real Estate Investors bought the property for $17.3 million. The sellers initially acquired the asset for $11 million in early 2020. Located at 9431 Dowdy Drive, the 55,000-square-foot property features ample parking space, drive-around access, dock-high loading space, storage space and a security system with a fenced-in lot. Bryce Aberg, Brant Aberg and Zachary Hardman of Cushman & Wakefield represented the seller in the deal.
NAPERVILLE, ILL. — MZ Capital Partners has sold Vantage Naperville Apartments in suburban Chicago for $24 million. The 112-unit apartment community, located at 1350 E. Ogden Ave., was fully leased at the time of sale. The newly completed property features studios and one-bedroom units with private work-from-home suites. JLL brokered the sale. An affiliate of 601W Cos. was the buyer.
NAPERVILLE AND WARRENVILLE, ILL. — Greenstone Partners has brokered the sale of a three-building office portfolio in Naperville and Warrenville for $16 million. Named the Cantera-Naperville Office Portfolio, the collection of assets totals 130,000 rentable square feet and is 86 percent leased. The properties are located at 4300 and 4580 Weaver Parkway in Warrenville and 1601 Bond St. in Naperville. Jason St. John and Paul Tesdal of Greenstone represented the seller, a Naperville-based real estate operator. The duo also procured the buyer, a Chicagoland-based family office that completed a 1031 exchange.
WACO, TEXAS — The Multifamily Group (TMG), a Dallas-based brokerage firm, has negotiated the sale of Heritage Quarters, a 374-bed student housing community located about 1.5 miles from Baylor University’s campus in Waco. Built in 2008, the mid-rise property sits on 2.7 acres and totals 106 units. The amenity package comprises a pool, 24-hour fitness center, billiards room, business center and a conference room. Danny Wieland of TMG represented the undisclosed seller in the transaction. Paul Yazbeck, also with TMG, represented the buyer.
KEMAH, TEXAS — San Francisco-based investment firm Hamilton Zanze has purchased Park at Waterford Harbor, a 200-unit apartment complex in Kemah, located southeast of Houston. The property was built in 1996 and was 96.5 percent occupied at the time of sale. Units average 972 square feet across seven different floor plans and are furnished with stainless steel appliances, granite countertops and individual washers and dryers. Amenities include a pool, fitness center, dog park and a putting green. Hamilton Zanze plans to make additional capital improvements to select units, as well as building exteriors and amenity spaces, and to transfer management of the property to Denver-based Mission Rock Residential.
BOSTON — Arden Logistics Parks, the industrial investment arm of Philadelphia-based Arden Group, has purchased a portfolio of eight industrial properties totaling roughly 1.3 million square feet that are located throughout southeast Massachusetts. The sales price was $160 million. Specifically, the properties, which were built between 1968 and 2016, are located in Mansfield, Fall River, New Bedford, Seekonk, Attleboro and Norton. Scott Dragos, Chris Skeffington, Doug Jacoby, Anthony Hayes, Tim Mulhall, Roy Sandeman and Dan Hines of CBRE represented the seller, Westbrook Partners, in the transaction. At the time of sale, the portfolio was 97 percent leased to 23 tenants, including Nestle, T-Mobile, Displays2Go and Whirlpool.
BORDENTOWN, N.J. — Cushman & Wakefield has brokered the $60 million sale of a 275,631-square-foot industrial asset located at 201 Elizabeth St. in Bordentown, located outside of Philadelphia in the southern part of the Garden State. Mindy Lissner, Bill Waxman, Christine Eberle, David Gheriani, Chris Griffith, Jeff Volpi and Morgan Nitti of Cushman & Wakefield represented the buyer, Penwood Real Estate Investment Management, in the transaction. Steven Schultz of Newmark represented the seller, The O’Donnell Group.
ELMSFORD, N.Y. — MC Real Estate Partners, an owner-operator of East Coast office and multifamily properties, and Tokyo Trust Capital have acquired The View on Nob Hill, a 416-unit apartment community located in the Westchester County city of Elmsford. The property sits on 24 acres and was 97 percent leased at the time of sale. Twenty percent of the units are reserved for households earning 60 percent or less of the area median income. Residences feature one-, two- and three-bedroom floor plans. The seller and sales price were not disclosed.