Acquisitions

Lynd Group Sells Houston-Area Apartment Community for $53.9M

by Taylor Williams April 13, 2022

PORTER, TEXAS — San Antonio-based development and investment firm Lynd Group has sold Villas at Valley Ranch, a 312-unit apartment community located in the northeastern Houston suburb of Porter, for $53.9 million. The property is situated within Signorelli Co.’s 1,400-acre Valley Ranch master-planned community. Units come in one- and two-bedroom floor plans, and amenities include a pool, fitness center, resident clubhouse, outdoor grilling and dining areas, a package handling system and a dog park. Lynd acquired the community less than a year ago for $39 million and implemented a value-add program. The buyer was Houston-based Keener Investments. Berkadia brokered the sale.

April 13, 2022

Acquisitions Multifamily Texas

Pegasus Real Estate, Thackeray Partners Buy 224-Unit Apartment Community in San Antonio

by Taylor Williams April 13, 2022

SAN ANTONIO — A partnership between Pegasus Real Estate and Thackeray Partners has purchased NOAH Apartments, a 224-unit multifamily community in San Antonio’s Alamo Heights neighborhood. The garden-style property was built in 1994. Amenities include a pool, fitness center, outdoor kitchen and a pet park. Ryan Epstein, Forrest Bass and Matt Pohl of Walker & Dunlop represented the partnership and the undisclosed seller in the transaction. Tom Toland and Matt Newton, also with Walker & Dunlop, arranged an undisclosed amount of acquisition financing on behalf of the new ownership, which plans to implement a value-add program.

April 13, 2022

Acquisitions Office Retail Texas

CTO Realty Agrees to Acquire $30M Preferred Equity Stake in Metro Dallas Office, Retail Property

by Taylor Williams April 13, 2022

ALLEN, TEXAS — CTO Realty Growth (NYSE: CTO) has entered into an agreement to acquire a $30 million preferred equity stake in Watters Creek at Montgomery Farm, a 458,000-square-foot office and retail property located in the northeastern Dallas suburb of Allen. Retail tenants at the property include Market Street, Anthropologie, Mi Cocina, DSW, The Cheesecake Factory, Brio Italian Grille and Michaels. The owner/seller of the property was not disclosed.

April 13, 2022

Acquisitions Retail Texas

Weitzman Arranges Sale of 16,918 SF Retail Strip Center in McKinney, Texas

by Taylor Williams April 13, 2022

MCKINNEY, TEXAS — Weitzman has arranged the sale of McKinney Marketplace, a 16,918-square-foot retail strip center located on the northern outskirts of Dallas. Shadow-anchored by Sprouts Farmers Market and LA Fitness, the property was fully leased at the time of sale to tenants such as Hollywood Feed, McKinney Emergency Vet, Waterview Dentistry, Little Caesars Pizza and Club Pilates. Derek Schuster and Kevin Butkus of Weitzman represented the seller, a Plano-based investment group, in the transaction.

April 13, 2022

Acquisitions Florida Office Southeast

JLL Arranges $35M Sale of Two Office Buildings in Palm Beach, Florida

by Julia Sanders April 13, 2022

PALM BEACH, FLA. — JLL Capital Markets has arranged the $35 million sale of 340 and 350 Royal Palm Way, two adjacent Class A office buildings totaling 44,625 square feet in Palm Beach. Ike Ojala, Hermen Rodriguez, Matthew McCormack, Max Lescano, Blake Koletic and Michael Roukis of JLL represented the seller, Chicago-based Pearlmark, and procured the buyer, CS Ventures. One of the properties, 340 Royal Palm Way, features 20,813 square feet of office space in a four-story building. The other property, 350 Royal Palm Way, has five stories and 23,812 square feet of office space. The 350 Royal Palm Way building is fully leased. In total, the properties offer 146 parking spaces in a mix of covered and surface spaces. The buildings are situated 5.3 miles from Palm Beach International Airport and 27.5 miles from Boca Raton. The assets are also close to Florida’s Turnpike and Interstate 95.

April 13, 2022

Acquisitions Florida Industrial Southeast

Colliers Negotiates $21.8M Sale of Dairy Processing Facility in Miami

by Julia Sanders April 13, 2022

MIAMI — Colliers has negotiated the sale of the Borden Dairy Co./Velda Farms dairy processing facility in Miami for $21.8 million. Steven Wasserman and Erin Byers of Colliers represented the buyer, CP Logistics Miami 95 LLC, in the transaction. Harold Ginsberg from Southern Asset Service Corp. represented the seller, New Dairy Florida LLC, in the transaction. The buyer, which is an entity of Panattoni Development, has plans to redevelop the site into a 126,000-square-foot Class A warehouse. The current tenant for the past 50 years, Borden Dairy, will vacate the site for redevelopment. Construction is slated for completion by late 2023. Located at 501 NE 181st St., the property is situated 19.7 miles from the University of Miami and 15.7 miles from Miami International Airport.

April 13, 2022

Acquisitions California Mixed-Use Office Western

RPG Sells Creative Office/Mixed-Use Portfolio Near San Diego for $86M

by Amy Works April 13, 2022

CARLSBAD, CALIF. — Cushman & Wakefield has represented RPG in the sales of an office and mixed-use office/retail portfolio in Carlsbad. The assets sold for $86 million. Sold separately, the recapitalizations consisted of Fusion, a recently renovated, 121,541-square-foot, Class A creative flex office building that is fully leased; and Lift, a creative mixed-use, ground-up development consisting of two Class A loft-style buildings totaling 53,205 square feet. New York-based Clarion Partners acquired Fusion, located at 1950 Camino Vida Roble, with a full building value of $54 million. Renovated in early 2020, the property was formerly an industrial/distribution facility that was converted into a Class A creative flex project with extensive glass lines and high ceilings. At the time of sale, the property was leased to Alphatec Spine, a medical technology company based in Carlsbad. Lift Innovation Way LLC purchased Lift, which comprises two buildings situated within Bressi Ranch, with a full building value of $32 million. Building A, located at 6023 Innovation Way, offers two full floors of creative office space totaling 33,770 square feet. The 19,435-square-foot Building B, located at 6021 Innovation Way, features 8,708 square feet of ground-floor restaurant space and 9,950 square feet of second-floor creative office space. …

April 13, 2022

Acquisitions New Jersey Northeast Retail

JLL Negotiates Sale of 517,096 SF Retail Power Center in Deptford, New Jersey

by Taylor Williams April 13, 2022

DEPTFORD, N.J. — JLL has negotiated the sale of Deptford Landing, a 517,096-square-foot retail power center located in Southern New Jersey’s Gloucester County. The property sits on a 67.3-acre site that sees more than 107,000 vehicles per day and was fully leased at the time of sale. Tenants include Designer Shoe Warehouse, Michaels, Five Below, PetSmart, Raymour’s Furniture, The Mattress Factory, Hand & Stone, Carter’s, Five Guys, Great Clips, Chipotle Mexican Grill and National Vision. Jose Cruz, Chris Munley, Steve Simonelli, J.B. Bruno, Jim Galbally, Colin Behr and Austin Pierce of JLL represented the undisclosed seller in the transaction. New Jersey-based Wharton Realty Group purchased the asset for an undisclosed price.

April 13, 2022

Acquisitions New Hampshire Northeast Retail

RPT Realty Acquires The Crossings in Portsmouth, New Hampshire, for $104M

by Taylor Williams April 13, 2022

PORTSMOUTH, N.H. — New York City-based shopping center REIT RPT Realty (NYSE: RPT) has acquired The Crossings, a 510,000-square-foot retail power center located near the Massachusetts-New Hampshire border in Portsmouth, for $104 million. The open-air center was 95 percent leased at the time of sale, with grocers Trader Joe’s and Aldi anchoring the property. Other major users include Dick’s Sporting Goods, Best Buy, Kohl’s, Five Below, Ulta Beauty, Chipotle Mexican Grill and McDonald’s. The seller was not disclosed.

April 13, 2022

Acquisitions Colorado Multifamily Retail Western

Marcus & Millichap Brokers Sale of Brightwater Golf Club, Residential Development in Gypsum, Colorado

by Amy Works April 13, 2022

GYPSUM, COLO. — Marcus & Millichap has arranged the sale of Brightwater Club, a golf course and residential development opportunity in Gypsum. Gypsum Creek Holdings sold the asset to Siena Development for an undisclosed price. Brightwater Club consists of a master-planned, 640-acre residential development with a Phase II development planned on the adjacent 323-acre tract that currently has four residences, three barns and two lakes. James Stewart of Marcus & Millichap represented the seller and procured the buyer in the deal.

April 13, 2022

Newer Posts

Older Posts