Acquisitions

Killian Pacific Breaks Ground on 246-Unit Ninebark Apartments in Washougal, Washington

by Amy Works August 5, 2022

WASHOUGAL, WASH. — Killian Pacific has broken ground on Ninebark, a sustainably designed apartment home community between Washougal and Camas, Wash. Situated on nine acres, Ninebark will feature 246 apartments, a central fireplace, private meeting and co-working spaces and fitness center. Additionally, art installations by regional and indigenous artists will be featured throughout the community and the public park. Development partners include Holst Architecture and R&O Construction. San Diego-based Sunrise Management is overseeing the lease-up and all management activities. The first phase delivery is planned for January 2023 and will reach completion in spring 2023. Pre-leasing begins in October 2022.

August 5, 2022

Acquisitions Multifamily Texas

Wayfinder Real Estate Sells 321-Unit Troubadour Apartments in Austin

by Taylor Williams August 4, 2022

AUSTIN, TEXAS — Locally based development and investment firm Wayfinder Real Estate has sold Troubadour, a 321-unit apartment community in Austin. The newly built property offers one-, two- and three-bedroom units, with 16 residences reserved for households earning 80 percent or less of the area median income. Amenities include a pool, multiple courtyards, an outdoor movie theater and a rooftop terrace. Preleasing of Troubadour began in January, and Wayfinder expects the property to reach a stabilized occupancy rate of 93 percent by the end of the month. An affiliate of Austin-based Christopher Investment Co. purchased the asset for an undisclosed price in an off-market transaction.

August 4, 2022

Acquisitions Development Florida Loans Multifamily Southeast

Lotus Capital Arranges $70M Acquisition, Construction Financing for Bay Harbor Islands Residential Project in Miami

by John Nelson August 4, 2022

MIAMI — Lotus Capital Partners LLC has arranged a $70 million acquisition and construction financing package for a waterfront condominium project on Bay Harbor Islands in Miami. The sponsor is a partnership between Pearl Property Group and L3C Capital Partners, which is acquiring a one-acre site facing the Bay Harbor waterway that currently consists of 30 condos. Lotus arranged the dual-structure loan through MSD Partners to provide acquisition financing for the borrower to purchase the site and funds to construct a new residential project. The borrower plans to demolish the existing condos and build 46 ground-up condos averaging 2,800 square feet. The development will also include a fitness center, resort-style club pool overlooking the water and a marina.

August 4, 2022

Acquisitions Georgia Office Southeast

Koelbel Acquires 189,212 SF Northridge Center Office Campus in Atlanta

by John Nelson August 4, 2022

ATLANTA — Koelbel & Co., a value-add real estate investment firm based in Colorado, has purchased the Northridge Center office complex in Atlanta’s Central Perimeter submarket. The 189,212-square-foot property comprises two office buildings located at 365 and 375 Northridge Center Road. Ryan Reethof and Jay O’Meara of CBRE represented the seller, Pacific Oak Capital Partners, in the transaction. The sales price was not disclosed. Charlie Clark and Matthew Smith of CBRE’s Debt & Structured Finance team arranged an undisclosed amount of acquisition financing for Koelbel, which plans to upgrade the office complex with a new tenant lounge, common conference room and ready-to-move-in spec suites, as well as enhancements to common areas and exterior amenities. The firm has selected Normandy Partners to manage Northridge Center, which is Koelbel’s first acquisition in Georgia.

August 4, 2022

Acquisitions Florida Retail Southeast

Plaza Advisors Arranges Sale of 103,427 SF Shopping Center in Orlando

by John Nelson August 4, 2022

ORLANDO, FLA. — Plaza Advisors has arranged the sale of Oakhill Village, a 103,427-square-foot shopping center located at the intersection of Hiawassee and Old Winter Garden roads in Orlando. An offshore investor doing business as Escape 22 Oakhill LLC purchased the center from an entity doing business as Oakhill Village Associates Ltd. for an undisclosed price. Built in 1989, Oakhill Village is situated on 11.4 acres about 10 miles northwest of Orlando International Airport. The property was 99 percent leased at the time of sale to tenants such as anchor DG Market + pOpshelf.

August 4, 2022

Acquisitions Multifamily Texas

TA Realty Acquires 293-Unit Elm at River Park Apartments in Fort Worth

by Taylor Williams August 4, 2022

FORT WORTH, TEXAS — Boston-based investment firm TA Realty has purchased The Elm at River Park, a 293-unit apartment community in Fort Worth. The property offers one-, two- and three-bedroom units that are furnished with stainless steel appliances and granite countertops. Amenities such as a pool, dog park, fitness center with on-demand programs and a business center with micro-offices and a conference center. San Antonio-based Embrey sold The Elm at River Park for an undisclosed price and will continue to manage the property.

August 4, 2022

Acquisitions Midwest Multifamily Wisconsin

JLL Brokers $17.4M Sale of Apartment Building in Downtown Milwaukee

by Kristin Harlow August 4, 2022

MILWAUKEE — JLL Capital Markets has brokered the sale of Freshwater Apartments in downtown Milwaukee for $17.4 million. The 76-unit apartment building is situated within Freshwater Plaza in the Harbor District. Built in 2017, Freshwater Apartments features studio, one- and two-bedroom units with an average size of 635 square feet. Amenities include a clubroom, rooftop terrace, heated indoor parking garage and bike storage. The community also features 16,645 square feet of retail space that is home to T-Mobile, UPS and Jimmy John’s. Wick Kirby, Amanda Friant and Jaime Fink of JLL represented the seller, Wangard Partners Inc. Bender Cos. was the buyer.

August 4, 2022

Acquisitions Kansas Midwest Retail

PEBB Enterprises, Contrarian Capital Management Sell Shopping Center in Overland Park for $16.8M

by Kristin Harlow August 4, 2022

OVERLAND PARK, KAN. — PEBB Enterprises and Contrarian Capital Management have sold the Pinnacle Village shopping center in the Kansas City suburb of Overland Park for $16.8 million. Lawrence, Kan.-based Cherry Hill Properties was the buyer. PEBB and Contrarian purchased Pinnacle Village in May 2018 and enhanced the 108,729-square-foot center through leasing activity and property improvements. DSW and Michaels are anchor tenants at the property, which is 90 percent leased. Additional tenants include Firehouse Subs, Goldfish Swim School and First Watch. Evan Halkias and Jeffrey Benz of Cushman & Wakefield represented the sellers.

August 4, 2022

Acquisitions Illinois Industrial Midwest

Colliers Arranges Sale of 226,384 SF Flex Industrial Property in Buffalo Grove, Illinois

by Kristin Harlow August 4, 2022

BUFFALO GROVE, ILL. — Colliers has arranged the sale of a 226,384-square-foot flex industrial property in the Chicago suburb of Buffalo Grove for an undisclosed price. Constructed in 1985, the building features 90,000 square feet of office space and parking for 600 cars as well as an attached manufacturing facility with a clear height of 21 feet, five interior docks and three exterior docks. Siemens has occupied the property since 1987 and utilizes the space for its U.S. engineering headquarters, which employs more than 800 engineers and manufacturing workers. Jeff Devine and Steve Disse of Colliers represented the seller, a private investor. Lightstone was the buyer.

August 4, 2022

Acquisitions Midwest Multifamily Wisconsin

JLL Brokers $17.4M Sale of Apartment Building in Downtown Milwaukee

by Jaime Lackey August 4, 2022

August 4, 2022

Newer Posts

Older Posts