AUSTIN, TEXAS — Houston-based investment firm Disrupt Equity has acquired Cascade, a 198-unit multifamily property located just south of downtown Austin, for $30.1 million. Built in 1971 and renovated in 2016, Cascade offers one-, two- and four-bedroom units as well as a fitness center, multiple pools, recreation areas and onsite laundry facilities. Disrupt Equity plans to continue with capital improvements to interiors of select units and amenity spaces. The seller was not disclosed.
GRAND PRAIRIE, TEXAS — A joint venture between two investment firms, Fort Worth-based PHP Capital and Southern California-based CapRock Partners, has purchased a 95,250-square-foot industrial property in the central metroplex city of Grand Prairie. The four-building complex sits on five acres and was roughly 90 percent leased at the time of sale. The seller and sales price were not disclosed. The new ownership plans to implement a value-add program.
WESTMINSTER, COLO. — Seagate Legacy Associates has completed the disposition of Links at Legacy Ridge Apartments, a multifamily property located at 2710 Bruchez Parkway in Westminster. MIG Real Estate acquired the asset for $94 million. Completed in 1999, Links at Legacy Ridge features 232 apartments in a mix of studio, one-, two- and three-bedroom floor plans with nine-foot ceilings, walk-in closets, patios/balconies and full-size washers/dryers. Community amenities include a resort-style pool, clubhouse and fitness center. Dave Martin and Brian Mooney of Northmarq’s Denver Investment Sales team represented the seller in the deal.
ARVADA, COLO. — Marcus & Millichap has arranged the sale of a single-tenant industrial facility at 5861 Tennyson St. in Arvada. The property traded for an undisclosed price. Priority Plastics occupies the 80,640-square-foot industrial manufacturing facility, which was built in 2000 on 5.3 acres. Alyssa Tomback of Marcus & Millichap’s Denver office represented the private investor seller in the deal. The name of the buyer was not released.
DEDHAM, MASS. — Global investment management firm Invesco Real Estate has purchased a 422,117-square-foot life sciences facility in Dedham, a southern suburb of Boston. The single-story building sits on 53 acres and was fully leased at the time of sale to tenants such as General Dynamics and the American Red Cross. Robert Griffin, Edward Maher, Matthew Pullen and Samantha Hallowell of Newmark represented the seller, a partnership between locally based investment firm RJ Kelly Co. and Independencia Asset Management, in the transaction.
NORTH ARLINGTON, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $8.4 million sale of three multifamily properties totaling 43 units in North Arlington, located in Bergen County. All structures were originally built more than 100 years ago and include four office spaces and three retail units. Scott Davidovic, Michael Kossak and Andrew Scheinerman of Kislak brokered the deals. The sellers were family partnerships that sold the assets to a single buyer, with all parties involved requesting anonymity.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has arranged the $5.2 million sale of two multifamily buildings totaling 37 units in Brooklyn’s Sunset Park neighborhood. The rent-stabilized buildings offer a mix of one-, two- and three-bedroom units. Victor Sozio, Stephen Vorvolakos, Sean Kelly and Benjamin Vago of Ariel Property Advisors brokered the sale. The buyer and seller were not disclosed.
DAVIE, FLA. — Levy Realty Advisors has arranged the $50 million sale of Pelican Bays, an eight-building warehouse complex located on SW 52nd Street in Davie, a city in South Florida’s Broward County. Situated near I-595 and the Florida Turnpike, the property spans 197,000 square feet of flex industrial and office space. The buyer, an entity doing business as Pelican Bays LLC, purchased the campus from the original developer, Charles Rowar. Alan Levy and Josh Levy of Levy Realty represented the buyer in the transaction. The firm will also oversee leasing and management at Pelican Bays, which currently houses about 120 tenants. Norman Matus of Red Rock Realty represented the seller.
ATLANTA — Peachtree Hotel Group has purchased the Canopy Atlanta Midtown, a 176-room hotel that opened in December 2018. A joint venture between Greystar, Concord Hospitality and Whitman Pearson sold the hotel to Peachtree Hotel Group for an undisclosed price. Lou Plasencia, Robert Wiemer, Nick Plasencia and Chris Plasencia of The Plasencia Group represented the seller in the transaction. The hotel opened at the same time as the adjacent Ascent Midtown Apartments, which was also developed by Greystar. Canopy Atlanta Midtown features an onsite restaurant, fitness center, business center and meeting rooms.
ALEXANDRIA, VA. — Avison Young has brokered the $22 million sale of a 110,047-square-foot office building located at 5680 King Centre Drive in Alexandria. Jim Kornick and Bill Evans of Avison Young represented the buyer, Burke & Herbert Bank & Trust Co., in the transaction, and the undisclosed seller was self-represented. The bank plans to consolidate a large swath of its workforce in the LEED Gold-certified building but maintain its headquarters at 100 S. Fairfax St. in Old Town Alexandria.