NEW YORK CITY — Locally based investment and management firm Fimida Enterprises, in partnership with a private investor, has acquired a portfolio of four multifamily properties totaling 13 units and 17,000 square feet that are located in various neighborhoods of Queens. The sales price was $7 million. Ben Normatov and Lev Mavashev of Alpha Realty represented the seller, Portela Realty, and Fimida Enterprises in the off-market transaction. ConnectOne Bank provided $4.9 million in acquisition financing. Jake Gluck of Fortune Capital Group arranged the debt.
WHEAT RIDGE, COLO. — Evergreen DevCo has completed the disposition of Outlook Clear Creek Apartments, a multifamily community at 4040 Clear Creek Drive in Wheat Ridge. Seagate Colorado Partners acquired the asset for $142 million. Built in 2021, Outlook Clear Creek features 310 apartments in a mix of one- and two-bedroom layouts spread across an array of two- and four-story buildings. Units feature picket backsplashes in the kitchen, deep farm undermount sinks, spacious closets and walk-in showers. The community is situated on 12.5 acres within the 110-acre Clear Creek Crossing mixed-use development. The live-work-play community is anchored by the SCL Health Lutheran Medical Campus, which is slated for completion in 2024. Dave Martin and Brian Mooney of NorthMarq’s Denver-based investment sales team represented the seller in the transaction.
SAN DIEGO — McMillin has completed the disposition of Eighteen Ten State Street, a Class A multifamily property located at 1810 State St. in San Diego’s Little Italy neighborhood. An undisclosed buyer acquired the asset for $64.4 million, or $650,500 per unit. The eight-story property offers 99 units with wood-plank style flooring, floor-to-ceiling windows, bay and city skyline views, nine-foot ceilings, walk-in closets, in-unit laundry, quartz countertops, stainless steel appliances and average floor plan sizes of 721 square feet. Community amenities include a village patio, sky spa, hotel-inspired lobby and horizon lounge. Darcy Miramontes, Kip Malo, Tim Wright and Bharat Madan of JLL Capital Markets Investment Sales and Advisory team represented the seller in the deal.
FEDERAL HEIGHTS, COLO. — JLL Capital Markets has secured $60 million in financing for the acquisition of Lodge on 84th, a garden-style multifamily community in Federal Heights, approximately 13 miles north of Denver. The borrower is Carroll. Tony Nargi, Matt Steffen and Kevin Barron of JLL Capital arranged the four-year, floating-rate bridge loan with a one-year extension option through a large insurance company. Located at 1327 W. 84th Ave., Lodge on 84th features 300 apartments.
JURUPA VALLEY, CALIF. — San Diego-based Stos Partners has purchased a vacant industrial facility located at 10220 San Sevaine Way in Jurupa Valley. A private company sold the asset for $19.8 million. Built in 1986 on 8.2 acres, the 139,000-square-foot property includes 7,000 square feet of office space, 16 docks, three drive-in doors and 1,600 amps of power. Additionally, the asset features a large secured storage yard with drive-around truck access and a long truck queuing lane. Stan Nowak and Cody Lerner of Avison Young represented the buyer, while Nowak, Lerner and John Pinjuv, also of Avison Young, represented the seller in the deal.
CHARLESTON, S.C. — CBRE has arranged the sale of a 30,677-square-foot medical office building in Charleston. An entity doing business as JEMO – Wesley LLC purchased the property from an entity known as 615 Wesley Drive LLC for $12.6 million. Charles Carmody and Ryan Carmody of CBRE represented the seller in the transaction. Built in 2002, the three-story property provides free onsite parking. Located at 615 Wesley Drive, the property is situated at the intersection of Highway 17, Highway 61 and Wesley Drive. The property is roughly three miles from downtown Charleston and 11 miles from Charleston International Airport.
BLOOMINGTON, MINN. — Schmitt Music has acquired a 92,000-square-foot office building in Bloomington for its new headquarters. The purchase price was undisclosed. Located at 7800 Picture Drive, about 12 miles south of Minneapolis, the property offers office, showroom and training space as well as an area for a repair center. Schmitt Music was formerly headquartered in Brooklyn Center. Dan Larew and Chris Hickok of JLL represented the seller, Shutterfly/Lifetouch.
LEMONT, ILL. — The Cooper Commercial Investment Group has brokered the sale of Centennial Plaza in the Chicago suburb of Lemont for $8.1 million. Jewel-Osco shadow-anchors the 38,500-square-foot retail center, which was 97 percent leased at the time of sale. Bob Havasi and Dan Cooper of Cooper Group represented the seller, a New Jersey-based private investment group. A California-based private group was the buyer. The asset traded at a cap rate of 7.4 percent.
NEW LENOX, ILL. — Marcus & Millichap has arranged the $4.9 million sale of a retail strip center in New Lenox, a southwest suburb of Chicago. A Chipotle restaurant with a drive-thru anchors the 9,907-square-foot property. Other tenants include MOD Pizza, Smoothie King, Classy Nails and Vino Gaming Wine Bar. Brian Parmacek of Marcus & Millichap represented the seller, a Chicago-based developer. The buyer was undisclosed.
MASSAPEQUA, N.Y. — JLL has brokered the sale of Southpoint at Massapequa, a 214-unit apartment community on Long Island. Southpoint at Massapequa houses one-, two- and three-bedroom units that average 987 square feet. Select units feature stainless steel appliances, granite countertops, newly renovated kitchens and bathrooms and private balconies/patios. Amenities include a pool, fitness center, bark park and outdoor grilling stations. Steve Simonelli, Jose Cruz, Michael Oliver, Kevin O’Hearn, Andrew Scandalios and Josh Stein of JLL represented the seller, JRK Property Holdings, in the transaction. Fairfield Properties purchased the community for an undisclosed price. Thomas Didio, Jr., Gerard Quinn and Salvatore Buzzerio, also with JLL, arranged $77.3 million in Freddie Mac acquisition financing for the deal. The loan was structured with a fixed interest rate and a 15-year term.