OMAHA, NEB. — Mohr Partners Inc. has brokered the sale of Orpheum Tower in downtown Omaha for an undisclosed price. Upon its construction in 1910, the 16-story tower was the tallest office building in Omaha at 220 feet. It was converted into 132 apartment units and served as the city’s tallest apartment tower until 2013. The building is listed on the National Register of Historic Places. Grant Palmer and Eric Beichler brokered the sale. A private REIT purchased the asset.
DALLAS — Cushman & Wakefield has brokered the sale of a portfolio of 80 office and light industrial buildings totaling approximately 2.3 million square feet that are located across the Dallas-Fort Worth metroplex. About 75 percent, or 61 of the buildings totaling 1.7 million square feet, are light industrial facilities, and the remainder are office assets. Jud Clements, Robby Rieke, Taylor Starnes and Macki McKim of Cushman & Wakefield represented the seller, locally based investment firm Momentum Commercial Realty, in the transaction. California-based CIP Real Estate purchased the portfolio for an undisclosed price.
ARLINGTON, TEXAS — Miami-based Eagle Property Capital (EPC) has sold Montecito Club, a 331-unit apartment community in Arlington that was built in phases between 1968 and 1979. Montecito Club features studio, one-, two- and three-bedroom residences that offer private balconies and patios in select units. Communal amenities include a pool, business center, fitness center, resident clubhouse, sports court, dog park and outdoor grilling and picnic areas. New York City-based APF Properties purchased the asset for an undisclosed price. EPC originally acquired the asset in 2016 and renovated unit interiors, upgraded common areas and amenity spaces and implemented more water- and energy-saving programs.
DALLAS — A partnership between Dallas-based investment firm OliveMill Holdings, Hunt Realty Investments and New York City-based Angelo Gordon has acquired a 240,000-square-foot office building in North Dallas. The 18-story building at 2801 N. Central Expressway was constructed in 2015 as a build-to-suit for advertising agency The Richards Group, which still occupies the building. OliveMill will oversee management of the building. The seller and sales price were not disclosed. Jim Curtin, Kris Lowe, Rex Cruz and Ryan Pollack of JLL arranged an undisclosed amount of floating-rate acquisition financing on behalf of the partnership through a fund managed by AllianceBernstein.
LOS ANGELES — Weiss Development has completed the disposition of Brentwood Shopping Center, a retail property located at 11674-11690 San Vicente Blvd. in Los Angeles. Fields Holdings acquired the asset for $30 million in an off-market transaction. Tenants at the 14,789-square-foot center include Chipotle, Juice Crafters, Planet Beauty, Juan Juan Salon, Coffee Bean & Tea Leaf, Harry’s Wine and Spirits, Winston Pies and Claudio D’Italio. Bill Bauman and Kyle Miller represented the seller in the deal.
GLENDALE, COLO. — Kairos Investment Management Co. has acquired Forest Manor Apartments, an affordable multifamily property located at 625 S. Forest St. in Glendale. Terms of the transaction were not released. Built in 1974, Forest Manor features 103 apartments in a mix of a single studio, 74 one-bedroom and 28 two-bedroom units with air conditioning, carpeted floors and spacious closets. The property was last renovated in 2001. Community amenities include a swimming pool and laundry facilities. Kairos plans to renovate the asset by implementing interior and exterior upgrades, including interior repairs and upgrades to units, new flooring for interior hallways, exterior roof repairs, pool renovation and common-area amenities.
DENVER — IPI Partners has purchased a three-story primary data center located at 1500 Champa St. in downtown Denver. Morgan Reed Group sold the asset for an undisclosed price. IPI Partners plans to further develop the 138,000-square-foot center’s connectivity ecosystems and colocation capacity. Currently, the property can support approximately 10 megawatts of power and offer a robust “Meet-Me-Room,” a space telecommunications companies can physically connect to one another and exchange data. Fred Mobley, Charles Borges and Andrew Gross of Matthews Real Estate Investment Services represented the buyer in the transaction.
PEABODY, MASS. — Locally based private equity firm Brookwood Financial Partners has sold 300 Jubilee, a 167,063-square-foot industrial building in Peabody, a northeastern suburb of Boston, for $43.1 million. Brookwood, which originally acquired the asset in 2009 for $8 million, sold the facility to an affiliate of Dallas-based Lincoln Property Co. At the time of sale, the property was 97 percent leased to a tenant roster that includes Thermo Fisher Scientific, International Transportation Group and Barton Associates. Colliers represented Brookwood in the transaction.
LAWRENCE, MASS. — Locally based brokerage firm ABG Commercial Realty has negotiated the $15.7 million sale of a 90,692-square-foot industrial property in Lawrence, located north of Boston near the Massachusetts-New Hampshire border. The property was built on 6.2 acres in 1968 and renovated in 2014. At the time of sale, the facility was fully leased to logistics firm Mainstream Global. The buyer was a joint venture between Boston-based Oliver Street Capital and an undisclosed institutional investor. The seller was also not disclosed.
NEW YORK CITY — Global logistics operator Realterm has acquired a 130,000-square-foot warehouse located in the Maspeth neighborhood of Queens. The building, which has 15 loading positions, sits on 5.2 acres at 50-35 56th Road, roughly five miles from LaGuardia Airport. The property was fully leased at the time of sale. Eastdil Secured represented the undisclosed seller in the transaction. Isaac Ilkhanov of Stelth Group represented Realterm.
