ROSENBERG, TEXAS — Colliers has brokered the sale of Fountains of Rosenberg, a 184-unit multifamily complex located on the southwestern outskirts of Houston. The recently renovated property offers a pool and a fitness center. Chip Nash, Bob Heard and Jaleel Adatia of Colliers represented the seller, an entity doing business as Mosaic Fountains LP, in the transaction. The buyer was Dallas-based Momentum Multifamily.
HOUSTON — NAI Partners has arranged the sale of an 82,053-square-foot industrial building located at 12218 Cutten Road in northwest Houston. According to LoopNet Inc., the single-tenant building was constructed in 2022. Travis Land and A.J. Williams of NAI Partners represented the seller, an entity doing business as Cutten Houston Investments LP, in the deal. Geoff Perrott and David Buescher of JLL represented the undisclosed buyer.
CHICAGO — Continental Realty Corp. (CRC), a Baltimore-based real estate investment and management company, has entered the Chicago market with its acquisition of a five-property shopping center portfolio for $93.6 million. The properties total more than 900,000 square feet of gross leasable area and are located in Cicero, Mount Prospect, Naperville and Palatine. Specifically, the properties include Cicero Marketplace in Cicero, Northwest and English Valley shopping centers in Palatine, Golf Plaza II in Mount Prospect, and Fox River Commons in Naperville. DiMucci Cos. was the seller. Tucker Development served as an acquisition and development consultant on the transaction. The portfolio was 84 percent leased at the time of sale. Major tenants include Sam’s Club, The Home Depot, Jewel-Osco, Kroger, Walgreens and Ross Dress for Less. CRC utilized its Continental Realty Opportunistic Retail Investment Fund I, a private equity fund formed last year that is focused on acquiring value-add and income-producing retail properties throughout the U.S. Jeff Kowal of Edgemark Commercial Real Estate Services LLC and John Thompson of Retail Focus represented DiMucci in the sale.
LENEXA, KAN. — A joint venture between affiliates of Cantor Fitzgerald LP and BH Cos. Inc. has acquired West End at City Center in Lenexa. The 309-unit apartment complex is situated within walking distance of Lenexa City Center, a 200-acre development featuring a mix of retail, restaurant, entertainment, multifamily and hospitality space. Built in 2009, the property features one-, two- and three-bedroom units with an average size of 970 square feet. Amenities include a fitness center, pool, business center and picnic area. As of late July, the community was nearly 96 percent leased. Mac Crowther and Whittaker Potts of Newmark brokered the transaction, which marks the seventh multifamily acquisition by the joint venture. The seller and sales price were undisclosed.
ROCK FALLS, ILL. — Newmark has brokered the $4.5 million sale of a 14,820-square-foot retail property net leased to Walgreens in Rock Falls, a city in Northwest Illinois. Matt Berres, Samer Khalil, Karick Brown and Carrie Frye of Newmark represented the seller, a private investor. The property sold to an undisclosed REIT. Walgreens has 13 years remaining on its lease.
CHICAGO — Kiser Group has arranged the sale of a portfolio of two multifamily buildings in Chicago’s East Garfield Park neighborhood for $2 million. The two buildings house a combined 35 units. The property at 351 S. Homan Ave. features a mix of two-, three- and four-bedroom units, while the building at 10-18 S. Homan Ave. houses two- and three-bedroom units. Aaron Sklar, Noah Birk and Jack Petrando of Kiser brokered the transaction. An out-of-state buyer purchased the portfolio from the undisclosed seller.
RUSSELLVILLE, ARK. — Mid-America Real Estate Corp. has brokered the sale of Valley Park Centre, a 282,608-square-foot regional shopping center in Russellville, a town within the Arkansas River Valley region. Dallas-based The Woodmont Cos. purchased the big-box retail center for an undisclosed price. Ben Wineman of Mid-America, along with Hank Kelley of Kelley Commercial Real Estate Partners, represented the seller, a joint venture between Atlanta-based RCG Ventures and an unnamed investment partner based in New York City. Valley Park Centre was 95 percent leased at the time of sale to tenants including T.J. Maxx, Ross Dress for Less, Belk, JC Penney, Shoe Carnival, Hibbett Sports, Hobby Lobby, PetSmart and Five Below.
GAINESVILLE, FLA. — Cushman & Wakefield has arranged the sale of a five-property multifamily portfolio in Gainesville totaling 582 units. Nick Meoli and Mike Donaldson of Cushman & Wakefield represented the seller, a joint venture between Platform Management Group and Excelsa Properties, in the transaction. The buyer, a joint venture between LYFE Properties Group and Skywood Properties, purchased the portfolio for $89.5 million. Dubbed the “Archer Road Portfolio,” the assets were built between 1971 and 1983 and include The Commons, a 99-unit community located at 2001 SW 16th St.; The Lofts, a 74- unit community located at 3020 SW Archer Road; The Park, a 99-unit community located at 3643 SW 20th Ave.; The Point, a 140-unit community located at 3100 SW 35th Place; and The Trails, a 170-unit community located at 3230 SW Archer Road.
DRAPER, UTAH — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of The Ivy at Draper, a 277-unit active adult community. Located in the Salt Lake City suburb of Draper, the community features freeway access, with connectivity to interstates 15, 215 and 80 and immediate access to Bangerter Highway, a main thoroughfare throughout the Wasatch Front. The buyer, seller and price were not disclosed. “Draper’s prestigious location at the Point of the Mountain, in the south end of Salt Lake Valley and north end of Utah Valley, allows for easy connectivity to all areas in Salt Lake and Utah counties,” says Danny Shin, IPA senior managing director of investments. Shin and Brock Zylstra, IPA senior vice president of investments, represented the seller. “Being a top leader in the state’s economy as part of the Silicon Slopes tech corridor, and with over 1,000 businesses in various industries operating in our city, multifamily assets are highly coveted and garner significant attention from interested buyers,” says Zylstra. “The Ivy at Draper was a prime example of this, especially given its purpose to provide a resource-driven lifestyle to residents. With strong neighboring demographics, including a five-mile radius population of …
DENVER — Stockdale Capital Partners has acquired The Source, a hotel located in Denver’s River North Arts District, for $61.9 million. The transaction also included a 300-stall parking garage and 17,000-square-foot surface parking lot. The Source features 100 guest rooms, a full-service rooftop restaurant, 5,575 square feet of event space, a fitness center, rooftop pool and business center. Additionally, the hotel offers 44,000 square feet of onsite restaurant and retail space in its Market Hall I & II locations. Stockdale Capital plans to refresh guest rooms, re-imagine the rooftop restaurant, “activate the hotel lobby experience” and create additional revenue drivers for the hotel’s retail space. The name of the seller was not released.
