Acquisitions

Berkadia Arranges $97.5M Sale of Apartment Community in Orlando

by Julia Sanders January 13, 2022

ORLANDO, FLA. — Berkadia has arranged the sale of West Vue, a 442-unit, garden-style apartment community in Orlando. A joint venture between New York-based Phoenix Realty Group and Prospect Capital acquired the property for $97.5 million. Matt Wilcox, Brett Moss, Tyler Swidler and Cole Whitaker of Berkadia represented the Jacksonville-based seller, RISE: A Real Estate Co. Built in 2021, West Vue offers one-, two- and three-bedroom floorplans with units ranging from 759 square feet to 1,369 square feet. Unit features include nine-foot ceilings, wood-plank style flooring, pendant lights, stainless steel appliances, granite countertops, center island with breakfast bar seating, side-by-side refrigerators, walk-in closets, walk-in showers, dual vanities, full-sized washer and dryers, balconies and screened-in patios. Community amenities include two swimming pools with sun shelves and private cabanas, a 24-hour clubhouse with Wi-Fi, media and game lounge, rentable private offices and study spaces, 24-hour fitness center, yoga studio, courtyards, dog park, children’s playground and a summer kitchen with grills. The property was 65.2 percent occupied at the time of sale. Located within the 1,800-acre master-planned MetroWest community, West Vue is situated close to Walgreens, 24 Hour Fitness, Wawa and an under-construction Bravo grocer. Located at 5915 Raleigh St., the property is …

January 13, 2022

Acquisitions Midwest Minnesota

Ryan Cos. Sells 11-Building Medical Office Portfolio Across Six States

by Kristin Harlow January 13, 2022

MINNEAPOLIS — Minneapolis-based Ryan Cos. US Inc. has sold a portfolio of 11 medical office buildings to Harrison Street for an undisclosed price. The fully leased buildings total 500,778 square feet and are located in Florida, Illinois, Minnesota, North Carolina, North Dakota and Wisconsin. Ryan developed all of the facilities. Ryan’s healthcare real estate management team will continue managing the properties under the new ownership. John Nero, Ben Appel, Jay Miele, Michael Greeley, Ron Ott and Adam Goss of Newmark represented Ryan in the sale.

January 13, 2022

Acquisitions Industrial Self-Storage Texas

Rosewood Property Co. Acquires National Self-Storage Portfolio Totaling 12,000 Units

by Taylor Williams January 13, 2022

DALLAS — Dallas-based Rosewood Property Co. has acquired a portfolio of 16 self-storage facilities totaling approximately 1.3 million net rentable square feet across roughly 12,000 units. The locations of the properties are split among 12 states, with three facilities in Texas. Aaron Swerdlin, Kenneth Cox and Taucha Hogue of Newmark represented the seller, Utah-based REIT Extra Space Storage, in the transaction. Jim Davies, Erich Pryor and Tom Sherlock of Talonvest Capital represented Rosewood Property Co. Extra Space Storage will continue to manage the majority of the properties. The acquisition brings Rosewood’s self-storage portfolio to 73 facilities across 21 states totaling more than 5.8 million square feet and approximately 44,500 units.

January 13, 2022

Acquisitions Development Multifamily North Carolina Southeast

Alliance Residential Acquires 15.7 Acres in Raleigh for Multifamily Development

by Julia Sanders January 13, 2022

RALEIGH, N.C. — Alliance Residential Co. has acquired 15.7 acres in Raleigh for the development of Prose New Hope, a 344-unit apartment community that marks the firm’s first Prose-branded property in the city. Prose is a new housing concept focused on building attainable homes near high-growth employment areas such as Raleigh. The seller and sales price of the land was not disclosed. Construction of Prose New Hope is slated for completion by early 2023. The property will offer one- and two-bedroom floorplans with an average unit size of 1,012 square feet. Unit features will include granite countertops, shaker style cabinets, stainless steel appliances and vinyl plank flooring. Community amenities will include a resort-style pool, clubhouse, fitness center, business center and a dog park. Located at 4100 Buffaloe Road, Prose New Hope will be situated across the street from a new Lidl grocery store, as well as Triangle Town Center. The property will also be close to Highway 401, Interstates 440 and 540, downtown Raleigh, NC State and Wake Technical Community College’s northern campus.

January 13, 2022

Acquisitions Multifamily Texas

TMG Arranges Sale of Three Multifamily Properties Totaling 367 Units in San Antonio

by Taylor Williams January 13, 2022

SAN ANTONIO — The Multifamily Group (TMG), a Dallas-based brokerage firm, has arranged the sale of a trio of multifamily properties in San Antonio. Hidden Village is a 176-unit property that was built in 1965 and features an average unit size of 676 square feet. Montrose Place was built in 1960 and totals 72 units that average 611 square feet, and The Dunes was built in 1975 and totals 119 units that average 622 square feet. Chris Siemasko, Paul Yazbeck, Jon Krebbs and Bryce Smith of TMG brokered the deal. The buyer(s) and seller(s) were not disclosed.

January 13, 2022

Acquisitions Multifamily Texas

Berkadia Negotiates Sale of 309-Unit Town Center Lofts in Metro Houston

by Taylor Williams January 13, 2022

ROSENBERG, TEXAS — Berkadia has negotiated the sale of Town Center Lofts, a 309-unit apartment community in the southwestern Houston suburb of Rosenberg. Developed in 2021 by Sueba USA, the property offers studio, one- and two-bedroom units ranging in size from 560 to 1,207 square feet. Amenities include two pools, a 24-hour fitness center, a community clubroom with a chef-inspired kitchen and package lockers. Jeffrey Skipworth, Todd Marix, Chris Curry, Joey Rippel, Chris Young and Kyle Whitney of Berkadia represented Sueba USA in the sale. A joint venture between Chicago-based Redwood Capital Group and global investment management firm Heitman purchased the asset for an undisclosed price.

January 13, 2022

Acquisitions Mixed-Use Nevada Office Restaurant Retail Western

3D Investments Acquires Tivoli Village Mixed-Use Development in Las Vegas for $216M

by Amy Works January 13, 2022

LAS VEGAS — Beverly Hills, Calif.-based 3D Investments has purchased Tivoli Village, an open-air, mixed-use property located at 400 S. Rampart Blvd. in Las Vegas. Property and Building Corp. and IDB Group USA sold the asset for $216 million. Built in 2009 and 2016, Tivoli Village features 669,406 square feet of Class A office, retail and restaurant space across 28 acres. Additionally, the property includes an 8.3-acre development parcel entitled for more than 300 residential units. Marlene Fujita Winkel of Cushman & Wakefield’s Las Vegas office represented the seller in the deal. Dave Alleman of Marquis Aurbach Coffing served as counsel for the seller.

January 13, 2022

Acquisitions Multifamily Nevada Western

Avison Young Negotiates $105.9M Sale of AYA Apartments in Las Vegas

by Amy Works January 13, 2022

LAS VEGAS — Avison Young has arranged the sale of AYA Apartments, a multifamily property in Las Vegas. The community traded for $105.9 million, or $190,126 per unit. The names of the seller and buyer were not released. Built in 1973 and renovated in 2019, AYA Apartments features 557 apartments in a mix of studio, one-, two- and three-bedroom layouts spread across 42 two-story, garden-style buildings. The property was previously an affordable housing community. However, restrictions expired several years ago and the three-year tail period that required keeping tenants in place expired in March 2021. As a result, the units are transitioning to market-rate apartments. Patrick Sauter, Art Carll-Tangora and Steve Nosrat of Avison Young represented the seller and facilitated the sale of the property.

January 13, 2022

3315-3541-N-Academy-Blvd-Colorado-Springs-CO

Acquisitions Colorado Retail Western

NavPoint Real Estate Brokers Sale of 126,471 SF Carefree Shopping Center in Colorado Springs

by Amy Works January 13, 2022

COLORADO SPRINGS, COLO. — NavPoint Real Estate Group has arranged the sale of Carefree Shopping Center, a retail property located at 3315-3541 N. Academy Blvd. in Colorado Springs. DCP Carefree sold the asset to Boise, Idaho-based Alturas Real Estate Fund for $15.8 million. At the time of sale, the 126,471-square-foot property was 98 percent occupied. Tenants include Family Dollar, Metro PCS, Human Bean Coffee, Pizza Hut and New Horizons Thrift Store. Matt Call and Collin Tedesco of NavPoint Real Estate Group handled the transaction.

January 13, 2022

Acquisitions Idaho Multifamily Western

Pacific Partners Residential Sells 280-Unit Prelude at Paramount Apartments in Meridian, Idaho

by Amy Works January 13, 2022

MERIDIAN, IDAHO — Pacific Partners Residential has completed the disposition of Prelude at Paramount, an apartment community in Meridian. Pacific Development Partners acquired the asset for an undisclosed price. Danny Shin, Brock Zylstra, Timothy Ufkes, Rich Day and Jake Miles of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Adam Lewis served as Marcus & Millichap’s broker of record in Idaho. Built in 2019, Prelude at Paramount features 280 apartments in a mix of one-, two- and three-bedroom layouts with smart home technology, washers/dryers, stainless steel appliances and vinyl wood-style flooring. Community amenities include a pool, spa, playground, 24-hour fitness center, clubhouse and dog parks.

January 13, 2022

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