Acquisitions

Coastal Ridge, Goldman Sachs Acquire 448-Bed Student Housing Community Near Northern Arizona University

by Amy Works June 3, 2022

FLAGSTAFF, ARIZ. — A joint venture between Coastal Ridge Real Estate and Goldman Sachs Asset Management has acquired the Commons at Sawmill, a 448-bed student housing community near Northern Arizona University in Flagstaff. The property offers studio, two- and four-bedroom, fully furnished units. Shared amenities include a newly built clubhouse, fitness center, game area, theater, study lounge and outdoor courtyard. Jaclyn Fitts, Casey Schaefer and William Vonderfecht with CBRE brokered the acquisition of the property from an undisclosed seller. Coastal Ridge will manage the community.

June 3, 2022

Acquisitions California Multifamily Seniors Housing Western

Kisco Senior Living Enters Upscale Seniors Housing Segment with Acquisition of Crestavilla in Laguna Niguel, California

by Amy Works June 3, 2022

LAGUNA NIGUEL, CALIF. — Kisco Senior Living has taken over operations of Crestavilla, a luxury seniors housing community in the Orange County city of Laguna Niguel. Affiliates of Kisco Senior Living and Harrison Street as advisor to an institutional investor fully transferred operations and management of Crestavilla from Atria Senior Living to Kisco. The LEED Gold-designated community offers 201 studio, one- and two-bedroom floorplans for independent living, assisted living and memory care residences. Crestavilla’s amenities and services include a 12,000-square-foot rooftop terrace, organic greenhouse, wellness programming, five unique dining venues, two fitness centers and a golf practice green. This acquisition signals the next step in Kisco’s services, with Crestavilla serving as Kisco’s first Signature Community, the company’s new upscale brand. The Carnegie at Washingtonian Center, set to welcome residents in spring 2024, will be Kisco’s second Signature Community.

June 3, 2022

Acquisitions California Retail Western

ZDI Purchases 29,387 SF Retail Center in Bakersfield, California

by Amy Works June 3, 2022

BAKERSFIELD, CALIF. — Southern California-based ZDI Inc. has acquired a retail center, located at 2625-2635 Mall View Road in Bakersfield, for $8.1 million through a 1031 exchange. The seller was a local partnership of real estate professionals, which has owned the property for more than 15 years after purchasing it from the original developer. Built in 2005, the 29,387-square-foot retail property is fully occupied by a variety of tenants, including a major office supply retailer. Cushman & Wakefield’s Duane Keathley and Vincent Roche represented the seller in transaction.

June 3, 2022

Acquisitions Illinois Midwest Multifamily

Interra Realty Negotiates $5.9M Sale of Multifamily Portfolio in Chicago

by Kristin Harlow June 3, 2022

CHICAGO — Interra Realty has negotiated the sale of a five-building multifamily portfolio totaling 67 units in Chicago for $5.9 million. All the properties are situated in the city’s Washington Park neighborhood and were developed in the late 1890s to early 1900s. All have received updated kitchens and bathrooms. The portfolio was 92 percent leased at the time of sale. Ted Stratman, Brad Feldman and Jeremy Morton of Interra represented the seller, GR82B Properties LLC. The team also represented the undisclosed buyer.

June 3, 2022

Acquisitions Midwest Office Wisconsin

Barry Co. Brokers Sale of Historic Office Building in Milwaukee

by Kristin Harlow June 3, 2022

MILWAUKEE — The Barry Co. has brokered the sale of a historic office building spanning 5,950 square feet in the Prospect Avenue Mansions Historic District of Milwaukee. Built in 1905, the property is located at 1429 N. Prospect Ave. Nick Zurich of Barry Co. represented the seller, LDG Investments LLC. James and Lauren Groh purchased the asset for an undisclosed price.

June 3, 2022

Acquisitions Industrial Texas

Faropoint Acquires Six Warehouses in Dallas-Fort Worth Metro For $59M

by Taylor Williams June 3, 2022

HOBOKEN, N.J. — Faropoint, an investment firm based in Northern New Jersey, has acquired six warehouses totaling approximately 550,000 square feet that are located throughout the Dallas-Fort Worth metroplex. The aggregate sales price was $59 million. The properties range in size from 40,116 to 245,300 square feet and were all fully leased at the time of sale. Cushman & Wakefield, Citadel Partners, Finial Group, Mercer Co. and Stream Realty Partners represented the various sellers of the properties, all of which were private investment groups that requested anonymity.

June 3, 2022

Acquisitions Industrial Massachusetts Northeast

Newmark Brokers Sale of 295,602 SF Industrial Portfolio in Metro Boston

by Taylor Williams June 3, 2022

RANDOLPH, STOUGHTON AND FOXBOROUGH, MASS. — Newmark has brokered the sale of a portfolio of five industrial facilities totaling 295,602 square feet that are situated on the southern outskirts of Boston. Three of the facilities are located in Randolph, one is in Stoughton and one is located in Foxborough. At the time of sale, the portfolio was 75 percent leased to nine tenants. Robert Griffin, Edward Maher, Matthew Pullen, Tony Coskren, Brian Pinch, Samantha Hallowell and Allie Percoco of Newmark represented the seller, a partnership between Wheelock Street Capital and The Seyon Group, in the transaction. The team also procured the buyer, Ares Management.

June 3, 2022

Acquisitions Development Multifamily New Jersey Northeast

Kislak Negotiates Sale of 103-Unit Multifamily Development Site in Orange, New Jersey

by Taylor Williams June 3, 2022

EAST ORANGE, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the sale of a multifamily development site in the Northern New Jersey community of Orange that is fully entitled for 103 market-rate units. The five-story complex will be known as Orange Valley Lofts and will include onsite parking, a lobby, bike room, terrace and an amenity room. Julie Gralla of Kislak represented the seller, Tritop Realty, in the land deal. Joni Sweetwood, also with Kislak, represented the buyer, an affiliate of Reynolds Asset Management. The sales price and a construction timeline were not disclosed.

June 3, 2022

Acquisitions Illinois Midwest Multifamily

GREA Brokers Sale of 207-Unit Multifamily Portfolio in Illinois

by Kristin Harlow June 2, 2022

FREEPORT AND ROCKFORD, ILL. — Global Real Estate Advisors (GREA) has brokered the sale of a 207-unit multifamily portfolio for an undisclosed price. The portfolio includes five properties located in Freeport and Rockford that were built between 1966 and 2009. Bill Montana and Chris Sackley of GREA brokered the sale. A Chicago-based investor purchased the value-add portfolio.

June 2, 2022

Acquisitions Healthcare Midwest Wisconsin

CA Health & Science Trust Acquires Three-Story Medical Office Building Near Milwaukee

by Kristin Harlow June 2, 2022

WAUWATOSA, WIS. — CA Health & Science Trust Inc. (CAHST) has acquired the Mayfair Health Professional Building in Wauwatosa near Milwaukee. The purchase price was undisclosed. The three-story medical office building, which is situated near Mayfair Mall, is more than 90 percent leased to medical practices offering orthopedic, physical therapy, diagnostic imaging and other services. Gino Lollio and Travis Ives of Cushman & Wakefield’s healthcare capital markets team, along with Mike Keane at Cushman & Wakefield’s alliance partner, The Boerke Co. Inc., represented the seller, ICA Real Estate Advisors. Citadel Property Advisors assisted with the transaction. CAHST is a private REIT focused on the acquisition and development of medical office and life sciences facilities across the U.S.

June 2, 2022

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