FORT WORTH, TEXAS — Houston-based investment firm Barvin has acquired Elan Crockett Row, a 380-unit apartment community located in Fort Worth’s West Seventh District. Built in 2019 by South Carolina-based Greystar, the property offers studio, one- and two-bedroom units with granite countertops, wine refrigerators and Honeywell smart thermostats. Amenities include a pool with outdoor lounges, covered grilling area with a TV, hammock garden with a fire pit and an elevated pet play area. The property also includes 7,200 square feet of retail space that is leased to Salsa Limon and F45 Training.
NEW YORK CITY — A partnership between locally based investment firm Taconic Partners, global asset manager Nuveen Real Estate and Flatiron Equities has acquired 309-324 East 95th Street in Upper Manhattan for $70 million. The property was originally constructed in 1927 as a manufacturing facility but was repurposed in the 1980s. The site now houses a five-story office building that connects with a two-story garage. Barry Goodman of Newmark represented the partnership in the transaction. The seller was not disclosed. Potential redevelopment plans are currently being evaluated.
CHERRYVILLE, PA. — Marcus & Millichap has brokered the sale of Cherryville Self Storage, a 404-unit facility located about 10 miles north of Allentown in the Lehigh Valley. Built on five acres in the late 1990s, the property consists of 89 climate-controlled units and 315 non-climate-controlled units across 58,075 net rentable square feet of space. Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the undisclosed seller in the transaction. Sean Beuche of Marcus & Millichap assisted in closing the deal as the broker of record. Additional terms of sale were not disclosed.
KEENE, N.H. — Covenant Living Communities & Services has agreed to purchase Hillside Village Keene, a seniors housing community located just north of the Massachusetts-New Hampshire border. Covenant is purchasing the community out of bankruptcy in a deal that is scheduled to close in early 2022. Hillside Village opened in 2019 with 141 independent living units, 43 assisted living units, 18 assisted living/memory care units and 20 nursing care suites. The price was not disclosed.
MONTCLAIR, N.J. — JLL has negotiated the sale of Montclair Residences at Bay Street Station, a 163-unit apartment community in Northern New Jersey. Built in 2008, the transit-oriented property features studio, one- and two-bedroom units with stainless steel appliances, granite countertops and individual washers and dryers. Amenities include a pool, fitness center, lounge and outdoor grilling areas. Jose Cruz, Steve Simonelli, J.B. Bruno, Michael Oliver and Kevin O’Hearn of JLL represented the seller, New York-based Clarion Partners, in the transaction. Natixis, an international investment bank based in Paris, provided a $54 million, floating-rate acquisition loan to the buyer, a joint venture between Mill Creek Residential and Cigna Investment Management. Matthew Pizzolato, Andy Scott, Tom Didio Jr. and Gerard Quinn of JLL placed the debt.
SEATTLE — Newport Beach, Calif.-based MIG Real Estate has purchased Solara, a multifamily property located at 12736 Lake City Way NE in North Seattle. Newport Beach, Calif.-based Sares Regis Multifamily Funds acquired the property for $84 million. Built in 2001, Solara consists of three six-story buildings offering a total of 238 studio, one-, two- and three-bedroom apartments with nine-foot ceilings and in-unit washers/dryers. On-site amenities include a pool, theater, 24-hour fitness center, game room, WiFi café, parcel lockers, pet wash station, conference room, landscaped private courtyard and leasing center. MIG plans to renovate the property by refreshing the interior amenities and leasing center, painting the exterior, updating signage, implementing light apartment renovations and refreshing the corridors. Additionally, the community features five ground-floor retail suites totaling 5,893 square feet leased to The Beer Authority, Caoba Hair Salon and Spa and Seatango. Jon Hallgrimson, Eli Hanacek, Frank Bosl and Kyle Yamamoto of CBRE represented the seller in the deal. Bill Chiles, Scott Peterson and Brian Cruz of CBRE Capital Markets in San Diego partnered with CBRE’s Seattle multifamily team in arranging financing for the acquisition on behalf of MIG.
CARLSBAD, CALIF. — Miramar Capital has purchased Aston Views, a freestanding office/flex building located at 1808 Aston Ave. in Carlsbad. MCR Aston LLC sold the property for $20 million. Built in 2001 on 8.7 acres, the two-story Aston Views features 82,972 square feet of space. At the time of sale, the property was 90 percent leased. Rick Reeder and Brad Tecca of Cushman & Wakefield’s Capital Markets team represented the seller in the deal. Justin Halenza and Michael Mahoney, also of Cushman & Wakefield, provided leasing advisory.
DENVER — Berkadia has arranged the sale of Aspen Grove, an apartment community in Denver. A California-based buyer acquired the asset for $10.3 million, or $313,636 per unit. Tyler King, Nick Steele and John Laratta and Nate Moyer of Berkadia Denver represented the Colorado-based seller in the deal. Built in 2020, Aspen Grove features 33 units with washers/dryers, patios/balconies, high ceilings and stainless steel appliances. The community is located at 9850 E. Girard Ave.
LOS ANGELES — Matthews Real Estate Investment Services has arranged the sale of Manchester Plaza, a retail property located at 520-536 E. Manchester Ave. in Los Angeles. An undisclosed developer sold the asset to a local investor for $5.5 million, or $647 per square foot. The property offers approximately 8,500 square feet of multi-tenant retail space. Joe Nelson of Matthews handled the transaction.
CHICAGO — Echo Real Estate Capital has sold a 94,000-square-foot office building in Chicago for $16.2 million. AT&T fully leases the property, which is located at 2401 W. Grace St. AT&T uses the building as a national call center and training facility. Echo acquired the asset in 2018 and signed a lease extension with AT&T earlier this year. Quantum Real Estate Advisors Inc. represented both the buyer and seller. Quantum’s Chad Firsel represented Echo, while Dan Waszak represented the buyer, an international investment fund.