Acquisitions

Taiwan-Based Investor Purchases Mixed-Use Project in Arcadia, California for $39.2M

by Amy Works November 11, 2021

ARCADIA, CALIF. — A private investor from Taiwan has acquired a mixed-use residential and retail property, located at 57 Wheeler Ave. in Arcadia, from a local developer for $39.2 million. Joyce Goldstein and Eric Chen of CBRE represented the buyer and the seller in the deal. Completed in 2019, the property features 38 apartments and 17,000 square feet of ground-floor retail space, which Universal Bank and Tap Lounge occupy. Community amenities include elevators, an outdoor barbecue area and courtyard, ample guest parking, storage spaces and electric vehicle charging stations. Apartments offer double vanities, stainless steel appliances, hardwood flooring and in-unit washers/dryers.

November 11, 2021

Acquisitions Multifamily Utah Western

Marble Partners Acquires 108-Unit Eastgate at Greyhawk Multifamily Community in Layton, Utah

by Amy Works November 11, 2021

LAYTON, UTAH — Los Angeles-based Marble Partners has purchased Eastgate at Greyhawk, a multifamily property located in Layton, approximately 24 miles north of Salt Lake City. Keller Investment Partner sold the asset for an undisclosed price. Constructed in 2012 on five acres, Eastgate at Greyhawk features 108 apartments, a swimming pool, pet park, playground and covered parking. Apartments offer patios or balconies, large closets and in-unit washers/dryers. Brock Zylstra and Danny Shin of Institutional Property Advisors, a division of Marcus & Millichap, represented the buyer in the transaction.

November 11, 2021

Acquisitions Industrial Nevada Western

RDS Investments Buys 33,430 SF Industrial Property in Henderson, Nevada

by Amy Works November 11, 2021

HENDERSON, NEV. — RDS Investments & Developments has acquired an industrial building located within Gibson Business Plaza at 149 and 145 N. Gibson Road in Henderson. Gibson BP LLC sold the asset for an undisclosed price. The property offers 33,430 square feet of industrial space. Brian Riffel and Tyler Jones of The Riffel Jones Industrial team at Colliers International represented the seller in the deal.

November 11, 2021

Acquisitions Midwest Ohio Retail

Nassimi Realty Acquires Medina Grande Shops in Metro Cleveland

by Kristin Harlow November 11, 2021

MEDINA, OHIO — Nassimi Realty has acquired Medina Grande Shops in the Cleveland-area community of Medina for an undisclosed price. The 150,288-square-foot shopping center is located at 4895 Grande Blvd. Tenants at the property include Ashley HomeStore, PetSmart, Jo-Ann Stores, FedEx Kinko and Dental One. CBRE represented the undisclosed seller.

November 11, 2021

Acquisitions Illinois Industrial Midwest

Brown Commercial Group Brokers Sale of 74,146 SF Industrial Building in Suburban Chicago

by Kristin Harlow November 11, 2021

DOWNERS GROVE, ILL. — Brown Commercial Group has brokered the sale of a 74,146-square-foot industrial building in the Chicago suburb of Downers Grove for an undisclosed price. The property is located on Thatcher Road. Mike Antonelli and Trinity Scurto of Brown represented the seller, Premium Investment Properties Inc. Antonelli represented the buyer, Beco Management Inc. The building is partially leased and the new owner plans to bring it to full occupancy.

November 11, 2021

Acquisitions Southeast Texas Top Stories

RREAF Holdings Acquires 21-Property Multifamily Portfolio for $534M

by Katie Sloan November 11, 2021

DALLAS — RREAF Holdings, in partnership with DLP Capital and 3650 REIT, has acquired a 21-property multifamily portfolio for $534 million. The portfolio — named TransCoastal 21 — consists of 4,000 units located in Georgia, Alabama, Florida, Texas, Arkansas, Louisiana and North Carolina. RREAF’s multifamily division acquired the communities from three different sellers, the names of which were undisclosed. RREAF’s in-house property management company, RREAF Residential, will manage 16 of the 21 assets, with DLP Real Estate Management managing the remaining five. Properties include: 2626 Park, located at 2626 E. Park Ave. in Tallahassee, Fla. Ascend at Savannah, located at 10714 Abercorn St. in Savannah, Ga. Ascend Midtown, located at 2200 E. Victory Drive in Savannah, Ga. Azure Cove, located at 1326 US-80 in West Garden City, Ga. Carriage House, located at 125 Tibet Ave. in Savannah, Ga. Falls at Spring Creek, located at 1900 Wesleyan Drive in Macon, Ga. Kessler Point, located at 901 Kessler Court in Garden City, Ga. Legacy at River Crossing, located at 1800 Wesleyan Drive in Macon, Ga. Mill Creek, located at 802 Limestone Circle in Russellville, Ark. Park Place, located at 400 Park Ave. in Foley, Ala. Pelican Pointe, located at 3400 Pelican Pointe …

November 11, 2021

Acquisitions Multifamily South Carolina Southeast

Greystar Agrees to Sell Multifamily Portfolio for Approximately $3.6B

by Julia Sanders November 10, 2021

CHARLESTON, S.C. — Greystar Real Estate Partners LLC has agreed to sell a 30-property multifamily portfolio for approximately $3.6 billion. Eastdil Secured served as the exclusive financial advisor to Greystar. Canadian-based Ivanhoé Cambridge purchased the portfolio, which includes 10,000 units, according to several media outlets. The Greystar Equity Partners IX fund was formed as part of Greystar’s flagship U.S. rental housing value-add fund series in which the company focused on acquiring well-located, institutional-quality apartment communities in target markets throughout the country. Since its launch in 2015, the fund series raised $5 billion, and it includes a group of global institutional investors from North America, Continental Europe and Asia-Pacific. Greystar is a Charleston-based real estate firm that manages and operates approximately $220 billion of real estate in more than 210 markets across the world. The company manages over 748,000 multifamily units globally.

November 10, 2021

Acquisitions Industrial Kansas Midwest Missouri

Ascendas REIT Buys 2.1 MSF Industrial Portfolio in Metro Kansas City for $156M

by Kristin Harlow November 10, 2021

KANSAS CITY, MO. — Ascendas REIT has purchased a 2.1 million-square-foot industrial portfolio spanning 13 buildings in metro Kansas City for $156 million. The acquisition marks the first entry into the U.S. logistics market for Singapore-based Ascendas. The infill properties are situated across the submarkets of South Johnson County, North Johnson County, Eastern Jackson County and Northland. The portfolio is 92.6 percent occupied by 27 tenants. Two entities doing business as ColFin 2017-11 Industrial Owner LLC and ColFin Cobalt I-II LLC were the sellers. Mark Long, John Hassler, Jim Linn and Andrew Briner of Newmark Zimmer brokered the transaction. Ascendas, an industrial REIT, is listed on the Singapore Exchange Securities Trading Limited. Its portfolio comprises 210 properties across the globe.

November 10, 2021

Acquisitions Industrial Midwest Ohio

KKR Acquires Two Industrial Buildings Totaling 1.1 MSF in Columbus

by Kristin Harlow November 10, 2021

COLUMBUS, OHIO — KKR has acquired two industrial buildings within Rickenbacker Logistics Park in Columbus for an undisclosed price. Completed this year, the warehouses total 1.1 million square feet and feature a clear height of 36 feet. Both single-tenant buildings are fully leased. CBRE represented the seller, a joint venture between CT Realty and Walton Street Capital.

November 10, 2021

Acquisitions California Industrial Western

Empire Square Group Sells 160,000 SF Manufacturing, Office Campus in San Jose for $64.3M

by Amy Works November 10, 2021

SAN JOSE, CALIF. — Empire Square Group has completed the disposition of a two-building advanced manufacturing and office campus located at 5300-5350 Hellyer Ave. in South San Jose. J&J Properties acquired the asset for $64.3 million. Joe Moriarty, Scott Prosser and Jack DePuy of CBRE Capital Markets brokered the sale. Brad Zampa and Michael Walker of CBRE Capital Markets’ Debt & Structured Finance group arranged $44 million in acquisition financing for J&J Properties. The 10-year, fixed-rate, non-recourse loan was arranged through a multinational investment bank. CAES, formerly Cobham, has occupied the 160,000-square-foot asset since it was originally built in 1999, and the company has invested significant capital into facility improvements over the years. The property features specialized infrastructure including 21 kV of power and more than 1,000 tons of HVAC. CAES is a provider of analog and radiation-hardened technology for the U.S. aerospace and defense industry. The company makes off-the-shelf and customized radio frequency, microwave and high-reliability microelectronic products and subsystems.

November 10, 2021

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