NORWALK, CONN. — Cushman & Wakefield has arranged the $293.5 million sale of The Norwalk Collection, a 662-unit multifamily portfolio located in the southern coastal Connecticut city of Norwalk. The Norwalk Collection comprises three buildings totaling 334 two-bedroom units and 328 one-bedroom units. Amenities include a pool, sundeck, fitness center, roof deck and tenant lounges. The properties also house approximately 68,000 square feet of retail space and 789 parking spots. Adam Spies, Adam Doneger, Brian Whitmer and Ryan Dowd of Cushman & Wakefield represented the sellers, Invictus Real Estate Partners and 166 2nd Financial Services, in the transaction. The team also procured the buyer, Beachwold Residential. Mona Carlton, Elliott Throne, Scott Aiese and Kenny Cutler off JLL provided a total of $33.1 million in Freddie Mac acquisition financing on behalf of Beachwold Residential.
MALDEN, MASS. — Manhattan-based DH Property Holdings will develop a 94,095-square-foot industrial facility in Malden, a northern suburb of Boston. DH Property will develop the facility, which will feature a clear height of 32 feet and parking for 197 vehicles, in a joint venture with Pugh Management. Brian Pinch, Tony Coskren, Ed Jarosz, Rick Schuhwerk, Matt Pullen, Samantha Hallowell and Jim Tribble of Newmark brokered the sale of the five-acre site on which the project will be built. Construction is scheduled to begin before the end of the month.
LONGWOOD, FLA. — Winter Park, Fla.-based CrossMarc Services and Baltimore-based MCB Real Estate have purchased Springs Plaza, a 64,753-square-foot shopping center in Longwood, about 15 miles north of Orlando. Faison Enterprises also provided equity for the $19.6 million acquisition. Casey Rosen and Dennis Carson of CBRE represented the seller, an affiliate of New York-based Apollo Global Management, in the transaction. The shopping center was built in 1979 and renovated in 2017. Shadow-anchored by Publix, Springs Plaza’s tenant roster includes Tijuana Flats, golf-themed sports bar Mulligan’s, The Back Porch Longwood, Hurricane Grill & Wings, Woof Gang Bakery & Grooming, a health food concept and a nail salon, among others.
DECATUR, ALA. — JRW Realty has arranged the sale of Point Mallard Centre, a grocery-anchored shopping center in Decatur. Situated near I-65, the property features a 45,600-square-foot Publix store and 16,800 square feet of small shop, restaurants and healthcare tenants. The buyer is an unnamed institutional investor that is actively acquiring net-leased and value-add properties. The seller and sales price were not disclosed.
HALETHORPE, MD. — MacKenzie Commercial Real Estate Services has brokered the $10.3 million sale of a 103,640-square-foot warehouse in Baltimore County. The transaction includes a vacant, single-story property located at 1407 Parker Road in Halethorpe and an adjacent development site located at 1441 Knecht Ave. Built in 1960, the property features office space, 16- to 21-foot clear heights, five loading bays, interior dock positions and surface parking spaces. Ohio-based Pioneer Cladding & Glazing Systems Inc. purchased the property and land from Pitts Realty LP, which formerly operated David Edwards Furniture from the site. Daniel Hudak and Andrew Meeder of MacKenzie represented the seller in the transaction.
WASHINGTON, D.C. — Greysteel has arranged the sale of Ravenel and Barclay, two multifamily properties totaling 120 units in the Dupont Circle neighborhood of downtown Washington, D.C. The buyer and sales prices were undisclosed. Situated two doors down from one another, the properties are located at 1610 and 1616 16th St. NW. Built in 1933, Ravenel totals 63 units and contains a mix of studio and one-bedroom apartments. Built in 1926, Barclay totals 57 units and includes a mix of one-bedroom and two-bedroom apartments. Amenities include a fitness center, laundry rooms, package concierge, bike storage, outdoor patio and an onsite management office. Renovations to the lobbies, leasing office, hallways, common areas and unit interiors were completed by the seller upon its acquisition.
ARLINGTON, TEXAS — Global Real Estate Advisors (GREA) has arranged the portfolio sale of three multifamily properties totaling 217 units in Arlington that were all built in the 1960s. The properties include Avalon (75 units), Tuscany Square (70 units) and Regency (72 units). Mark Allen of GREA represented the buyer and seller, both of which requested anonymity, in the transaction. The new ownership plans to implement a value-add program.
IRVING, TEXAS — Marcus & Millichap has brokered the sale of The Vanderbilt, a 152-unit multifamily complex in Irving. The property offers studio, one- and two-bedroom floor plans and amenities such as a pool, dog park, outdoor grilling and dining areas and onsite laundry facilities. David Fersing, Nick Fluellen, Bard Hoover and Wesley Racht of Marcus & Millichap represented the buyer, private investor Tony Lin, in the transaction.
DORAVILLE, GA. — A fund sponsored by CBRE Investment Management closed on an $85.3 million mortgage loan to finance Atlanta-based Carroll’s acquisition of the 592-unit Arium Winters Chapel apartment community in the Atlanta suburb of Doraville. The floating-rate loan has an initial term of three years with a two-year extension option. The loan features future funding to finance the sponsor’s business plan. Robert Kadoori of CBRE’s Debt & Structured Finance team in Atlanta arranged the loan on behalf of Carroll. Formerly known as Jasmine at Winters Chapel, Arium Winters Chapel is a garden-style property located at 4335 Winters Chapel Road and offers one-, two- and three-bedroom floor plans. Units feature hardwood-style flooring, resurfaced cabinets, private balconies, tile backsplashes and washer/dryers in select units. Community amenities include a fitness center, two swimming pools, soccer field, picnic and grilling areas, two dog parks, playground, clubhouse, business center and controlled gated access.
PHOENIX — Sealy & Co. has purchased Sky Harbor Center, a Class A industrial building located at 801 S. 16th St. in Phoenix. An affiliate of Cohen Asset Management sold the asset for an undisclosed price. The 85,259-square-foot property is situated on 7.5 acres within the Sky Harbor Airport submarket and was fully leased to two tenants at the time of sale. Will Strong, Greer Oliver, Kirk Kuller and Connor Nebeker-Hay of Cushman & Wakefield represented the seller in the transaction. Cooper Fratt, John Werstler and Tanner Ferrandi of Cushman & Wakefield provide leasing advisory services for the property.