Acquisitions

Mammoth-Main-Street-Promenade-Mammoth-Lakes-CA

Marcus & Millichap Negotiates $8.8M Sale of Mammoth Main Street Promenade Shopping Center in Mammoth Lakes, California

by Amy Works June 7, 2022

MAMMOTH LAKES, CALIF. — Marcus & Millichap has arranged the sale of Mammoth Main Street Promenade, a retail center located in Mammoth Lakes. A private investor sold the asset to an undisclosed buyer for $8.8 million. At the time of sale, the 42,809-square-foot shopping center was 98 percent leased to 22 tenants, including Mammoth Laundry and Sun & Ski Sports. The property was built in 1988. Patrick Toomey, Jose Carrazana, Jessica Baram and Enrique Wong of Marcus & Millichap represented the seller in the deal.

June 7, 2022

Acquisitions Multifamily Oregon Seniors Housing Western

SLIB Brokers Sale of 38-Unit Seniors Housing Property in Portland, Oregon

by Amy Works June 7, 2022

PORTLAND, ORE. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Cornerstone Care Option, a 38-unit, 56-bed skilled nursing facility in Portland. The community was originally built in 1955 on 7.3 acres, with renovations in 2006. The 98,700-square-foot asset was 98 percent occupied. The seller was a local owner-operator looking to retire from seniors housing. A regional group based in the West acquired the property for an undisclosed price. Jason Punzel, Brad Goodsell and Vince Viverito of SLIB handled the transaction.

June 7, 2022

Acquisitions Industrial Maryland Southeast

Link Logistics Sells Six-Property Industrial Portfolio in Mid-Atlantic for $67.5M

by Amy Works June 6, 2022

BALTIMORE — New York-based Link Logistics has completed the disposition of Beltway+ Industrial Portfolio, a six-property, 430,118-square-foot industrial portfolio located in the Mid-Atlantic region. Massachusetts-based High Street Logistics Properties acquired the portfolio for $67.5 million. Situated in the Baltimore-Washington Corridor, Beltway+ Industrial Portfolio was 92 percent leased at the time of sale to 26 tenants. The largest asset in the portfolio is a 114,980-square-foot, Class A property located at 6695 Business Parkway within Meadowridge Business Park in Elkridge, Md. The remaining properties are small-bay industrial assets with direct access to Interstate 695. Christopher Abramson, Ben McCarty and Nicholas Signor of Newmark represented the seller in the deal. Brian Kruger, Thomas Hinder and Erik Evans of Newmark will handle leasing of the property on behalf the new ownership.

June 6, 2022

Acquisitions Florida Retail Southeast

Publix Super Markets Acquires Retail Center in West Palm Beach for $56.5M

by Amy Works June 6, 2022

WEST PALM BEACH, FLA. — Publix Super Market Inc. has purchased River Bridge Centre, a community shopping center situated on 28.4 acres at 6714-6868 Forest Hill Road in West Palm Beach. An affiliate of Apollo Global Management sold the asset to the Lakeland, Fla.-based grocer for $56.5 million. Danny Finkle, Eric Williams and Kim Flores of JLL represented the seller in the transaction. Opened in 1986 and renovated in 2005, River Bridge Centre features 229,781 square feet of retail space. Publix, Ross Dress for Less, Crunch Fitness, Five Below, Ace Hardware, Chipotle Mexican Grill, MD Now Urgent Care, Humana and Pizza Hut are tenants at the retail center. The value-add center was 86.3 percent occupied at the time of sale.

June 6, 2022

Acquisitions Georgia Retail Southeast

Skyline Seven Brokers $11M Sale of Howell Crossing Retail Center in Duluth, Georgia

by Amy Works June 6, 2022

DULUTH, GA. — Skyline Seven Real Estate has arranged the sale of Howell Crossing, a metro Atlanta shopping center located at the intersection of Pleasant Hill Road and Peachtree Industrial Boulevard in Duluth. The property traded for $11 million. Planet Fitness and Taco Mac anchor the 68,682-square-foot property, which was built in 1996. Skyline Seven arranged the sale between two undisclosed private parties.

June 6, 2022

Acquisitions Industrial Texas

JLL Negotiates Sale of 576,047 SF Corner Ridge Crossing Industrial Park in San Antonio

by Taylor Williams June 6, 2022

SAN ANTONIO — JLL has negotiated the sale of Corner Ridge Crossing, a 576,047-square-foot industrial park on San Antonio’s east side. Built in 2020, the property comprises four industrial buildings: one cross-dock, one front-load and two rear-load buildings. Each building has 28- to 32-foot clear heights, 28- to 60-foot dock high doors and truck court depths ranging from 130 to 210 feet. Trent Agnew, Dustin Volz, Dom Espinosa, Josh Villarreal and Zach Riebe of JLL represented the seller, Houston-based Hines, in the transaction. Global investment firm KKR acquired the development for an undisclosed price.

June 6, 2022

Acquisitions Florida Restaurant Retail Southeast

FrostPoint Capital Acquires Bridgewater Commons Shopping Center in Orlando for $9.9M

by Amy Works June 6, 2022

ORLANDO, FLA. — FrostPoint Capital has purchased Bridgewater Commons, a shopping center in Orlando, from Fort Lauderdale, Fla.-based HS Capital for $9.9 million. Winn-Dixie anchors the 62,460-square-foot retail center, which is shadow-anchored by a CVS/pharmacy outparcel that was not part of the transaction. Other tenants include Subway, Avalon Dance Studio, Two Guys Pizzeria, Amigos Barbershop, New Shang Hai Restaurant, Winn-Dixie Liquors and Greenberg Dental. Kirk Olson and Drew Kristol of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the West Palm Beach, Fla.-based buyer in the deal.

June 6, 2022

Acquisitions Multifamily Texas

Newmark Brokers Sale of 309-Unit Alamo Park Apartments in San Antonio

by Taylor Williams June 6, 2022

SAN ANTONIO — Newmark has brokered the sale of Alamo Park, a 309-unit apartment community in northeast San Antonio. The property features one- and two-bedroom units with an average size of 658 square feet. Amenities include a pool, fitness center, volleyball court and outdoor grilling and dining areas. Jim Young, Matt Michelson and Chase Easley of Newmark represented the seller, Austin-based Achieve Investment Group, in the transaction. New York-based River Rock Capital purchased the asset for an undisclosed price and plans to implement a value-add program. Alamo Park was 94 percent occupied at the time of sale.

June 6, 2022

Acquisitions Multifamily Texas

Vista Investment Group Acquires 122-Unit Multifamily Property in Austin

by Taylor Williams June 6, 2022

AUSTIN, TEXAS — Southern California-based Vista Investment Group has acquired SoCo Apartments, a 122-unit multifamily property in Austin. Built in 2004, the property offers one, two- and three-bedroom units that are housed across 16 two-story buildings. Amenities include a pool, clubhouse, fitness center, coffee bar and picnic and grilling areas. The new ownership plans to invest in capital improvements to unit interiors, building exteriors and amenity spaces. Will Balthrope, Jordan Featherston and Kent Myers of Institutional Property Advisors, a division of Marcus & Millichap, represented the undisclosed seller in the transaction.

June 6, 2022

Acquisitions Affordable Housing Multifamily New Jersey Northeast

Greystone Provides $74.3M in Agency Financing for Newark Affordable Housing Portfolio

by Taylor Williams June 6, 2022

NEWARK, N.J. — Greystone has provided $74.3 million in Fannie Mae financing for a portfolio of 17 affordable housing properties totaling 574 units in Newark. The financing comprises five separate loans, all of which carry 10-year terms and 30-year amortization schedules. The properties range in size from nine to 108 units. Some of the assets are reserved for renters earning 60 percent or less of the area median income (AMI), while others feature an income restriction threshold of 80 percent of AMI. Hope Curtis of Greystone originated the financing. The borrower(s) were not disclosed.

June 6, 2022

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