Acquisitions

Hamilton Zanze Acquires 244-Unit Echelon at Odenton Apartments in Metro Baltimore

by John Nelson July 18, 2022

ODENTON, MD. — San Francisco-based Hamilton Zanze has purchased Echelon at Odenton Apartments, a 244-unit garden-style multifamily community located at 315 Nevada Ave. in Odenton, a suburb of Baltimore. Built in 2016, the apartment community was 97 percent occupied at the time of sale. The seller and sales price were not disclosed. Situated on 6.6 acres, Echelon at Odenton comprises two five-story residential buildings housing units ranging from 759 to 1,456 square feet, as well as a single-story clubhouse. Amenities include a theater, barbecue and grilling areas, clubhouse, TV lounge and bar, playground, game room, pool and covered bike storage.

July 18, 2022

Acquisitions Healthcare Iowa Midwest

PRECAP Brokers $16.4M Sale of Healthcare Portfolio in Waterloo, Iowa

by Kristin Harlow July 18, 2022

WATERLOO, IOWA — Physician Real Estate Capital Advisors (PRECAP) has brokered the sale of a two-property healthcare portfolio in Waterloo for $16.4 million. The buildings total 30,235 square feet and are located at 2413 W. Ridgeway Ave. and 419 Donald St. Allen Memorial Hospital, a subsidiary of UnityPoint Health, occupies both properties. Scott Niedergang of PRECAP, along with JDS Real Estate Services Inc., represented the seller, a physician partnership. The all-cash buyer was a net lease fund structured as a Delaware Statutory Trust.

July 18, 2022

Acquisitions Indiana Midwest Retail

Marcus & Millichap Arranges $4.3M Sale of Retail Property in Chesterton, Indiana

by Kristin Harlow July 18, 2022

CHESTERTON, IND. — Marcus & Millichap has arranged the $4.3 million sale of a 12,400-square-foot retail property in Chesterton, a city in Northwest Indiana. The newly constructed asset is located at 600 Gateway Blvd. and is leased to several local restaurants. Mitchell Kiven of Marcus & Millichap marketed the property for sale on behalf of the seller, a developer. Damien Yoder and Madison Harman of Marcus & Millichap represented the buyer, a Georgia-based limited liability company. The sales price was above the asking price.

July 18, 2022

Acquisitions Multifamily Washington Western

Kidder Mathews Negotiates $38.7M Sale of Apartment Community in Vancouver, Washington

by Amy Works July 18, 2022

VANCOUVER, WASH. — Kidder Mathews arranged the sale of 134th Street Lofts, a multifamily property in Vancouver. An undisclosed buyer acquired the asset from an undisclosed seller for $38.7 million in an off-market transaction. Newly constructed, 134th Street Lofts offers 124 apartments and is near Legacy Salmon Creek Medical Center, Washington State University Vancouver and a variety of local and national retailers. Dylan Simon, Max Frame and Jerrid Anderson of Kidder Mathews’ Simon and Anderson team represented the seller and sourced the buyer in the deal.

July 18, 2022

Acquisitions California Industrial Western

Dalfen Industrial Buys 86,680 SF Property in San Diego from Alcion Ventures, LPC West

by Amy Works July 18, 2022

SAN DIEGO — Dalfen Industrial has acquired a freestanding industrial building, located at 7615 Siempre Viva Road in San Diego’s Otay Mesa submarket. A partnership between Alcion Ventures and Lincoln Property Co. West sold the asset for $24.8 million. Mark Lewkowitz and Chris Holder of Colliers represented the buyer and seller in the deal. Totaling 86,680 square feet, the building is divisible by 45,180 square feet and features 20 dock-high doors, two grade-level roll-up doors, a sprinkler system, 27- to 28-foot clear heights, 1,500 amps, a 180-foot truck court and 6,950 square feet of office space.

July 18, 2022

Acquisitions Arizona Office Western

BatchService Acquires Office Building in Tempe, Arizona for $8.8M

by Amy Works July 18, 2022

TEMPE, ARIZ. — BatchService has purchased an office property, located at 4625 S. Wendler Drive in Tempe, for $8.8 million. BatchService is a software company that provides an all-in-one prospecting platform for residential real estate investors, agents and brokers. Built in 1985 and renovated in 2016, the two-story building offers 44,000 square feet of useable office space. The property is currently undergoing tenant improvements for additional offices, new paint and new flooring. Eddie Gonzalez of SVN Desert Commercial Advisors represented the buyer in the transaction.

July 18, 2022

Acquisitions Colorado Multifamily Western

Capstone Brokers $7.1M Sale of Gabion Apartments in Colorado Springs

by Amy Works July 18, 2022

COLORADO SPRINGS, COLO. — Capstone has brokered the sale of The Gabion Apartments, a multifamily building located at 676 W. Monument St. in Colorado Springs. The property traded for $7.1 million. Pat Knowlton of Capstone represented the undisclosed seller, while Jeff Dimmen, also of Capstone, represented the undisclosed buyer in the deal. Built in 2015, Gabion Apartments features 20 units. At the time of sale, the property was fully leased.

July 18, 2022

Acquisitions Arizona Build-to-Rent Single-Family Rental Western

Berkadia Negotiates $75M Sale of Built-to-Rent Community in Flagstaff, Arizona

by Amy Works July 15, 2022

FLAGSTAFF, ARIZ. — Berkadia has arranged the sale of The Overlook at Buffalo Park, a built-to-rent multifamily property at 1651 N. Gemini Drive in Flagstaff. Georgia-based St. Clair Holdings sold the asset to San Diego-based Logan Capital Advisors for $75 million. Built in 2021, The Overlook at Buffalo Park features 155 rental homes in a mix of one-, two- and three-bedroom cottage-style designs. The homes feature largely detached floor plans with vaulted ceilings, front porches and stainless steel appliances, including full-size washers and dryers. Community amenities include a clubhouse with porch seating, two pet parks, a dog washing station, fire pits and a fitness center. Mark Forrester, Ric Holway, Dan Cheyne and Andrew Curtis of Berkadia Phoenix represented the seller in the deal.

July 15, 2022

Acquisitions California Mixed-Use Office Retail Western

Bolour Associates Acquires 32,500 SF Mixed-Use Building in Hollywood

by Amy Works July 15, 2022

LOS ANGELES — Bolour Associates has purchased a two-story, mixed-use building located at 6432 Santa Monica Blvd. in the Hollywood neighborhood of Los Angeles for $13.7 million, or $421 per square foot. Totaling 32,500 square feet, the property features 17,500 square feet of ground-floor retail space and 15,000 square feet of second-story office space. At the time of sale, the property was 100 percent occupied by tenants ranging from creative management and casting to production equipment rentals and photography studios. Brandon Michaels, Matthew Luchs and Andrew Leff of Marcush & Millichap represented the buyer and undisclosed seller in the deal.

July 15, 2022

Acquisitions California Industrial Western

CenterSquare, RAF Pacifica Group Sell 202,844 SF Industrial Facility in Vista, California

by Amy Works July 15, 2022

VISTA, CALIF. — A joint venture between CenterSquare and RAF Pacifica Group has completed the disposition of 1 Viper Way, an industrial property located in Vista. BLT Enterprises acquired the asset for an undisclosed price. Totaling 202,822 square feet, the facility features 28-foot clear heights, 20 dock-high doors, 16 grade-level doors, heavy power and ample skylights to provide natural light and energy efficiencies. At the time of sale, the property was fully leased to two tenants. Cushman & Wakefield advised CenterSquare and RAF Pacifica Group in the initial acquisition in 2021, as well as the lease-up and sale of the property.

July 15, 2022

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