Acquisitions

ABI Multifamily Brokers $7M Sale of Bella Villas Apartments in Scottsdale, Arizona

by Amy Works February 1, 2022

SCOTTSDALE, ARIZ. — ABI Multifamily has negotiated the sale of Bella Villas Apartments, a multifamily community in Scottsdale. The property traded for $7 million, or $333,333 per unit. The undisclosed buyer and seller are both based in Arizona. Built in 1960, Bella Villas Apartments features 21 garden-style, two-bedroom/two-bath floor plans with air conditioning/heating, refrigerators and ranges/ovens. Community amenities include onsite laundry, private yards, covered parking and a community swimming pool. Royce Munroe of ABI Multifamily represented both parties in the transaction.

February 1, 2022

Acquisitions Industrial Texas

CBRE Negotiates Sale of 622,814 SF Industrial Building in Tulsa

by Taylor Williams February 1, 2022

TULSA, OKLA. — CBRE has negotiated the sale of a 622,814-square-foot industrial building in Tulsa that is fully occupied by Port City Metals Services. Built on 50 acres in 1950, the property features 35-foot clear heights, 70-plus parking spaces and 32,838 square feet of office space. Dwayne Flynn and Ryan Shaffer of CBRE represented the seller, an entity doing business as 1315 LLC, in the transaction. Radix Equity LLC purchased the asset for $13 million.

February 1, 2022

Acquisitions Industrial Texas

MAG Capital Partners Sells Texas Industrial Portfolio Totaling 320,852 SF

by Taylor Williams February 1, 2022

FORT WORTH, TEXAS — MAG Capital Partners has sold a portfolio of three Texas industrial properties totaling 320,852 square feet. Cameron Ashley Building Products Inc. occupies the portfolio, which comprises a 136,882-square-foot asset in Dallas, a 79,970-square-foot facility in Lubbock and a 104,000-square-foot property in San Antonio. An Israel-based fund purchased the portfolio for an undisclosed price. Chelsea Mandel, Jonathan Wolfe and Jordan Shtulman of Stream Capital Partners represented MAG Capital Partners in the transaction while also securing the buyer.

February 1, 2022

Acquisitions Multifamily Texas

29th Street Capital Buys 320-Unit Villas at Hermann Park Apartments in Houston

by Taylor Williams February 1, 2022

HOUSTON — Chicago-based investment firm 29th Street Capital has purchased Villas at Hermann Park, a 320-unit apartment community located near Texas Medical Center in Houston. Built in 2000, the property offers one-, two- and three-bedroom units with stainless steel appliances, granite countertops and full-size washers and dryers. Amenities include a pool, two conference rooms, a 24-hour fitness center, package pickup room, outdoor grilling and picnic stations and shuttle service to Texas Medical Center. The new ownership plans to implement a value-add program. The seller was not disclosed.

February 1, 2022

Acquisitions Multifamily Texas

Northland Acquires 300-Unit Legend Apartments in Waco

by Taylor Williams February 1, 2022

WACO, TEXAS — Northland, a private equity real estate firm based in metro Boston, has acquired The Legend, a 300-unit apartment community located about six miles southwest of downtown Waco. The property, which according to Apartments.com was built on 17 acres in 2015, features one-, two- and three-bedroom units that are furnished with wood-style plank flooring, granite countertops and individual washers and dryers. Amenities include a pool, clubhouse, business center and café, fitness center, grilling and picnic stations and a pet park. The seller and sales price were not disclosed.

February 1, 2022

Acquisitions Retail Texas

Disney Investment Group Arranges Sale of 128,394 SF Shopping Center in Metro Dallas

by Taylor Williams February 1, 2022

MCKINNEY, TEXAS — Locally based brokerage firm Disney Investment Group (DIG) has arranged the sale of Craig Crossing, a 128,394-square-foot shopping center in the northern Dallas suburb of McKinney. Anchored by Club 4 Fitness, Boot Barn and Chair King, Craig Crossing was 90 percent leased at the time of sale. Other tenants include Half Price Books, Sport Clips, Fuzzy’s Taco Shop, AT&T Wireless and America’s Best Eyeglasses. David Disney and Adam Crockett of DIG represented the seller, Dallas-based Centcom Realty Corp., and procured the buyer, ALTO Real Estate Funds, in the transaction.

February 1, 2022

Acquisitions Massachusetts Multifamily Northeast

DSF Group Acquires Apartment Community in Milford, Massachusetts for $87M

by Taylor Williams February 1, 2022

MILFORD, MASS. — An affiliate of Boston-based DSF Group has acquired Rolling Green Apartments, a 304-unit multifamily community located about 40 miles southwest of Boston in Milford, for $87 million. Built in 1970, the 29-building community offers one-, two- and three-bedroom units. About 30 percent (88) of the residences are townhomes that average 1,060 square feet. Simon Butler, Biria St. John and John McLaughlin of CBRE represented the seller, an affiliate of metro Boston-based Philmor Real Estate Investments, in the transaction.

February 1, 2022

Acquisitions Industrial Northeast Rhode Island

Marcus & Millichap Brokers Sale of 479,000 SF Industrial Property in Cumberland, Rhode Island

by Taylor Williams February 1, 2022

CUMBERLAND, R.I. — Marcus & Millichap has brokered the sale of a 479,000-square-foot industrial property in Cumberland, located north of Providence near the Massachusetts-Rhode Island border. The site previously housed the headquarters of locally based discount retailer Ann & Hope, which ceased operations in 2020. Harrison Klein, Laurie Ann Drinkwater and Seth Richard of Marcus & Millichap represented the seller, an undisclosed private investor, in the transaction. Klein also procured the buyer, a developer that similarly requested anonymity. John Horowitz of Marcus & Millichap assisted in closing the deal as the broker of record.

February 1, 2022

Acquisitions Industrial NAI New Jersey Northeast

NAI Fennelly Negotiates $40.2M Sale of Vacant Manufacturing Facility in Spotswood, New Jersey

by Taylor Williams February 1, 2022

SPOTSWOOD, N.J. — NAI Fennelly has negotiated the $40.2 million sale of a vacant manufacturing facility that sits on 58 acres in the Central New Jersey community of Spotswood. Jerry Fennelly and Patrick Dintrone of NAI Fennelly represented the undisclosed seller, which operated the facility from 1941 to 2020, in the transaction. The buyer was an unnamed institutional investor.

February 1, 2022

Acquisitions Development Florida Industrial Southeast

Joint Venture Purchases 115-Acre Parcel in Jupiter, Florida for Industrial Development

by Julia Sanders January 31, 2022

JUPITER, FLA. — A joint venture between PCCP LLC, Woodmont Industrial Partners and Butters has purchased 115 acres in Jupiter. The site is situated within Palm Beach Park of Commerce, a 1,200-acre master-planned industrial park located 23 miles northwest of West Palm Beach. The seller and sales price for the land were not disclosed. The parcel is zoned for industrial use and the site plan approval is now in process. The joint venture plans to develop eight industrial buildings totaling approximately 1.5 million square feet at the site. The speculative project will feature concrete tilt-up construction, and the first two buildings for development will include a 301,145-square-foot warehouse with anticipated completion in January 2023 and a 50,094-square-foot warehouse anticipated for completion in July 2023. Palm Beach Park of Commerce is home to more than 70 businesses and 1,400 employees with tenants including Amazon, Walgreens, CSX and McLane. The site is situated close to the Florida Turnpike and Interstate 95.

January 31, 2022

Newer Posts

Older Posts