COLLEGE STATION, TEXAS — San Antonio-based Koontz Corp. has sold Encino Trace Apartments, a 340-unit community in College Station. Koontz completed Encino Trace, which offers one- and two-bedroom floor plans, in January 2022. Units feature stainless steel appliances, quartz countertops, brushed nickel hardware, simulated wood and ceramic tile flooring, full-size washers and dryers, walk-in closets, private patios and balconies and detached garages. Communal amenities include a pool with a tanning ledge and outdoor kitchen, poolside lounge and fire pit, a dog park, fitness center and a clubhouse. Will Balthrope, Drew Garza and Jennifer Campbell of Institutional Property Advisors, a division of Marcus & Millichap, brokered the deal on behalf of Koontz Corp. The buyer was California-based SB Pacific Group LLC.
DALLAS — Marcus & Millichap has brokered the sale of Hampton Greens, a 309-unit multifamily property in northeast Dallas. Built in 1985 on nine acres, the 16-building community offers one- and two-bedroom floor plans featuring patios or balconies, walk-in closets and exterior storage space. Amenities include a pool, business center, fitness center, clubhouse, children’s play area and onsite laundry facilities. David Fersing, Nick Fluellen and Bard Hoover of Marcus & Millichap represented the seller, Los Angeles-based Oro Capital Advisors LLC, in the transaction. The team also procured the buyer, a partnership between two locally based firms, Capital Boutiq and Trinity Investors.
HOUSTON — JLL has negotiated the sale of 10497 Town & Country Way, a 150,000-square-foot office building in West Houston. Kevin McConn and Rick Goings of JLL represented the seller, an affiliate of metro Philadelphia-based Equus Capital Partners, in the transaction. Kelly Layne and John Ream, also with JLL, arranged an undisclosed amount of acquisition financing on behalf of the buyer, a joint venture between 35 South Capital and Lee & Associates. Independent Bank provided the loan.
STOCKTON, CALIF. — A joint venture between Intercontinental Real Estate Corp. and Kennedy Wilson has purchased Stockton Industrial Park, a manufacturing and distribution facility in Stockton. A New York-based owner and operator of logistics real estate sold the asset for $84 million. Located at 1604 Tillie Lewis Drive, the three-building park features 877,638 square feet of highly functional and easily divisible space. The facilities feature 24- to 28-foot clear heights, ample dock-high and grade-level loading, and a wide range of unit sizes for warehouse and/or manufacturing purpose. The largest of the buildings, totaling 570,000 square feet, offers direct rail service. At the time of sale, the property was 100 percent leased. Barbara Perrier, Darla Longo and Rebecca Perlmutter of CBRE, along with Blake Rasmussen and Tyler Vallenari of Cushman & Wakefield, marketed the property for sale on behalf of the seller. CBRE represented the seller in the transaction.
TUCSON, ARIZ. — San Francisco-based Goodegg Investments and Manhattan Beach, Calif.-based Break of Day Capital have jointly acquired Mission Antigua, a 248-unit apartment community located in the Midvale Park area of Tucson, for an undisclosed price. Julie Lam and Annie Dickerson of Goodegg Investments and Gary Lipsky at Break of Day Capital led the acquisition teams. This is the eighth asset in Arizona for Break of Day Capital and the first for Goodegg Investments. Completed in 1989, Mission Antigua comprises 248 one-, two- and three- bedroom units and includes amenities such as a swimming pool, picnic area, fitness center and clubhouse. Individual unit amenities include fireplaces, ceiling fans, walk-in closets and balconies and patios. Select units include vaulted ceilings and in-unit washers and dryers. Approximately 70 percent of the units have been renovated, and Goodegg Investments and Break of Day Capital plan to renovate the remaining units.
SUISAN CITY, CALIF. — Red Bank, N.J.-based First National Realty Partners has acquired Heritage Park, a shopping center in Suisan City. Terms of the transaction were not released. Located approximately 42 miles southwest of Sacramento and 42 miles northeast of Oakland, Heritage Park features 167,000 square feet of retail space. A 60,000-square-foot Raley’s grocery store has anchored the property since 1989. Additional tenants include Ace Hardware, AutoZone, Dollar Tree, Dunkin Donuts, Mariner Finance and H&R Block. To date, First National Realty Partners’ portfolio includes nearly 9 million square feet of retail space spanning 20 states from coast-to-coast.
PHIILADELPHIA — JLL has brokered the sale of two apartment complexes totaling 213 units in Philadelphia. The Broderick is a 69-unit property in the Society Hill area that houses one- and two-bedroom units with an average size of 854 square feet and 5,240 square feet of ground-floor retail space. The Republic is a 144-unit complex in the Rittenhouse neighborhood with studio, one- and two-bedroom residences averaging 695 square feet. The Republic also houses 5,267 square feet of retail space. Mark Thomson, Carl Fiebig, Francis Coyne and Tyler Margraf of JLL represented the seller, a partnership between Barings Real Estate and MRP Realty, in the two separate transactions. Sentinel Real Estate Corp. acquired the assets for undisclosed prices.
PATERSON, N.J. — New York-based investment firm Timberline Real Estate Ventures has purchased a 66,000-square-foot light industrial building in the Northern New Jersey community of Paterson. At the time of sale, the property, which includes nearly a full acre of outdoor storage space, was fully leased to building materials provider Kamco Supply. Michael Klein, Alex Staikos and Michael Lachs of JLL arranged an undisclosed amount of nonrecourse, fixed-rate acquisition financing for the deal through Blue Foundry Bank. The seller was not disclosed.
OKLAHOMA CITY — JLL has negotiated the sale of 240 Penn Park, a 241,831-square-foot retail power center in Oklahoma City. Built on 22.2 acres in 2006, the center was 99 percent leased at the time of sale to tenants such as Marshalls, Ross Dress for Less, Michaels, PetSmart, Best Buy, Saltgrass, Lane Bryant, Five Below, Charleston’s Restaurant and GNC. Ryan Shore, Chris Gerard, Greyson Fewin and Pauli Kerr of JLL represented the seller, a partnership between New York-based DRA Advisors and private investment group RCG Ventures, in the transaction. Locally based investment firm Mazaheri Properties acquired the asset for an undisclosed price.
ROCKPORT, TEXAS — Marcus & Millichap has arranged the sale of Pearl Point, a 216-unit apartment complex in the southern coastal city of Rockport. Units at Pearl Point feature an average size of 906 square feet and are equipped with patios/balconies, walk-in closets and full-size washers and dryers. Amenities include a pool, open green space and a dog park. Kent Myers and Nico Bianchi of Marcus & Millichap represented the seller, a partnership between Rockport-based Uhr Real Estate Inc. and Iowa-based Frew Development Group, in the transaction. The duo also procured the buyer, Dallas-based RREAF Holdings.