Acquisitions

BentallGreenOak Buys 614,020 SF Industrial Portfolio in Metro San Diego

by Amy Works April 25, 2022

CARLSBAD, VISTA AND SAN MARCOS, CALIF. — BentallGreenOak has acquired a 614,020-square-foot industrial portfolio consisting of seven manufacturing and distribution buildings in the northern suburbs of San Diego. The name of the seller and acquisition price were not released. The portfolio includes: Vista Distribution Center, a three-building property at 1205, 1211-1215 and 1225 Park Center Drive in Vista 2710 Progress St. in Vista 1880 Diamond St. and 120 Mata Way in San Marcos 2281 Las Palmas Drive in Carlsbad At the time of sale, the portfolio was 100 percent leased. Jeffrey Cole, Aric Starck, Jeff Chiate, Mike Adey, Ed Hernandez and Drew Dodds of Cushman & Wakefield’s Southern California Capital Markets team represented the seller in the deal.

April 25, 2022

Acquisitions California Multifamily Seniors Housing Western

SLIB Negotiates Sale of 94-Unit Rancho Belago Seniors Housing Community in Moreno Valley, California

by Amy Works April 25, 2022

MORENO VALLEY, CALIF. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Rancho Belago, a 94-unit assisted living and memory care in the Inland Empire city of Moreno Valley. Totaling 125 beds, the community was built in 2014, totals approximately 98,700 square feet and is situated on approximately 7.3 acres of land. The seller was a local developer based in greater Los Angeles area. The buyer is a group based on the West Coast that was looking to expand its presence within California. The buyer plans to optimize operations, with a renewed focus on optimizing staffing and increasing occupancy. Jason Punzel, Brad Goodsell and Vince Viverito of SLIB handled the transaction. The price was not disclosed.

April 25, 2022

Acquisitions Colorado Office Western

Tepuy Properties Acquires Office Building in Boulder, Colorado for $2.6M

by Amy Works April 25, 2022

BOULDER, COLO. — Boulder-based Tepuy Properties has purchased a multi-suite office building located at 3050 Broadway St. in Boulder. Attache International Marketing sold the asset for $2.6 million. Built in 1981, the 7,094-square-foot property is currently 100 percent vacant. Tepuy plans to update the property with interior renovations and rooftop patio updates. Eric Rutherford with WK Real Estate represented the buyer, while Chris Jensen of Vista Commercial Advisors represented the seller in the transaction.

April 25, 2022

Acquisitions Multifamily Texas

Newmark Negotiates Sale of 712-Unit Multifamily Portfolio in North Dallas

by Taylor Williams April 25, 2022

DALLAS — Newmark has negotiated the sale of a portfolio of two multifamily properties totaling 712 units in North Dallas. Allure is a 364-unit community that was built in 1998 and offers one- and two-bedroom units with an average size of 850 square feet. Essence is a 348-unit development that was originally constructed in 1996 and also houses one- and two-bedroom units with an average size of 869 square feet. Both properties offer amenities such as pools, fitness centers, game and lounge areas, business centers and indoor and outdoor sport courts. Utah-based Bridge Investment Group purchased the portfolio from Southern California-based Archway Equities for an undisclosed price. Richard Furr, Brian Murphy, Brian O’Boyle, Jr. and Jakob Andersen of Newmark represented both parties in the transaction.

April 25, 2022

Acquisitions Industrial Retail Self-Storage Texas

DealPoint Merrill Sells Self-Storage Facility, Goodwill Store in Benbrook, Texas for $20M

by Taylor Williams April 25, 2022

BENBROOK, TEXAS — California-based investment firm DealPoint Merrill has sold a 982-unit self-storage facility in Benbrook, a southwestern suburb of Fort Worth, for $20 million. The two-story property spans 112,000 square feet and includes a 10,036-square-foot Goodwill store. The self-storage facility features entirely climate-controlled space. The buyer was not disclosed.

April 25, 2022

Acquisitions Hospitality Texas

Marcus & Millichap Brokers Sale of Holiday Inn & Suites San Antonio Northwest Hotel

by Taylor Williams April 25, 2022

SAN ANTONIO — Marcus & Millichap has brokered the sale of the Holiday Inn & Suites San Antonio Northwest Hotel. The 122-room hotel’s amenity package consists of a pool, fitness center, business center and a cocktail lounge. Allan Miller and Chris Gomes of Marcus & Millichap represented the seller, a limited liability company, and procured the buyer, an individual/personal trust, in the transaction. Both parties requested anonymity.

April 25, 2022

Acquisitions Northeast Retail Vermont

Big V Property Group Acquires 47,837 SF Retail Village in Stratton, Vermont

by Taylor Williams April 25, 2022

STRATTON, VT. — Big V Property Group, a retail investment firm with five offices across the country, has acquired The Village at Stratton, a 47,837-square-foot retail village in the Vermont ski resort town of Stratton. The Village at Stratton was fully leased at the time of sale to a roster of 20 tenants. Big V acquired the property as part of a portfolio sale that included The Village at Snowshoe in West Virginia and The Village at Copper Mountain in Colorado. The seller was not disclosed.

April 25, 2022

Acquisitions Net Lease New York Northeast Retail

SRS Real Estate Arranges $8.7M Sale of Single-Tenant Retail Property in Middletown, New York

by Taylor Williams April 25, 2022

MIDDLETOWN, N.Y. — SRS Real Estate Partners has arranged the $8.7 million sale of a 14,564-square-foot, single-tenant retail property located in Middletown, about 75 miles north of New York City. The property was built on 1.1 acres in 2007 and is triple net leased to Walgreens on a long-term basis. Winston Guest, Matthew Mousavi and Patrick Luther of SRS Real Estate represented the seller in the transaction, and Josh Goldflam of Highcap Group represented the buyer. Both parties were New York-based private investors who requested anonymity.

April 25, 2022

Acquisitions Midwest Multifamily Ohio Seniors Housing

SLIB Brokers Sale of 267-Bed Seniors Housing Community in Mason, Ohio

by Kristin Harlow April 25, 2022

MASON, OHIO — Senior Living Investment Brokerage (SLIB) has arranged the sale of Cedar Village, a seniors housing community in Mason, Ohio, approximately 22 miles northeast of downtown Cincinnati. Cedar Village features 105 independent living/assisted living units and 162 skilled nursing beds. The seller was a nonprofit owner based in Indiana divesting of its only community in Ohio. The buyer was a regional owner with other properties nearby. The price was not disclosed. Ryan Saul of SLIB handled the transaction.

April 25, 2022

Acquisitions Multifamily New Jersey Northeast

Kislak Negotiates $6.5M Sale of Multifamily Property in Neptune City, New Jersey

by Taylor Williams April 25, 2022

NEPTUNE CITY, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $6.5 million sale of Steiner Ocean Apartments, a 36-unit multifamily property in Neptune City, located near the Jersey Shore. The garden-style property comprises three two-story buildings. Daniel Lanni of Kislak represented the buyer and seller, both of which requested anonymity, in the transaction.

April 25, 2022

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