Acquisitions

Blue West Capital Negotiates Sale of Mineral Shops in Littleton, Colorado

by Amy Works November 1, 2021

LITTLETON, COLO. — Blue West Capital has brokered the sale of Mineral Shops, a neighborhood retail center at 4760 W. Mineral Ave. in Littleton. Terms of the transaction were not released. Mineral Shops features 9,910 square feet of retail space and was 100 percent occupied at the time of sale. Tenants include Rita B Salon, Blush Nail Salon, King Liquor, Dunkin’ and Columbine Dentistry. Robert Edwards and Carly Kelly of Blue West Capital represented the buyer, a Texas-based private real estate investment company, and seller, a San Francisco-based private real estate investor, in the deal.

November 1, 2021

Acquisitions Multifamily Texas

Embrey Partners Acquires 280-Unit Retreat at Chelsea Park Apartments Near San Antonio

by Taylor Williams November 1, 2021

SELMA, TEXAS — Locally based investment and development firm Embrey Partners has acquired Retreat at Chelsea Park, a 280-unit apartment community in Selma, a northeastern suburb of San Antonio. Built in 2006, the property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, coffee bar, dog park, clubhouse and outdoor grilling areas. Patton Jones of Newmark brokered the deal, the seller in which was not disclosed. Embrey plans to implement an interior value-add program that will upgrade units’ countertops, cabinetry, appliances, flooring and closets.

November 1, 2021

Acquisitions Arizona Restaurant Retail Western

Phoenix Commercial Advisors Brokers $10M Sale of Shops at Cooley Station Near Phoenix

by Amy Works November 1, 2021

GILBERT, ARIZ. — Phoenix Commercial Advisors has negotiated the sale of Shops at Cooley Station, two hard-corner retail shop buildings located at 4049 E. Williams Field Road in Gilbert. The property traded for $10 million, or $628 per square foot. The names of the buyer and seller were not released. The 15,912-square-foot building was fully occupied at the time of sale. Current tenants include Pacific Dental, Wing Stop, F45, Little Caesars, Life Quest and My House. Chad Tiedeman of Phoenix Commercial Advisors represented the seller in the deal.

November 1, 2021

Acquisitions Multifamily Seniors Housing Washington Western

Blueprint Brokers Sale of 123-Bed Alaska Gardens Skilled Nursing Facility in Tacoma, Washington

by Amy Works November 1, 2021

TACOMA, WASH. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Alaska Gardens Health and Rehabilitation Center, a 123-bed skilled nursing facility in Tacoma. The buyer was an unnamed private owner-operator. LTC Properties Inc., a publicly traded healthcare REIT based out of Westlake Village, Calif., sold the asset for an undisclosed price.

November 1, 2021

Acquisitions Industrial Texas

Marcus & Millichap Brokers Sale of 109,737 SF Industrial Building in Pharr, Texas

by Taylor Williams November 1, 2021

PHARR, TEXAS — Marcus & Millichap has brokered the sale of Pharr Logistics Center, a 109,737-square-foot industrial building located in the Rio Grande Valley. The property was built on 7.7 acres in 1994 and was fully leased at the time of sale. Adam Abushagur of Marcus & Millichap represented the seller, a private investor, and procured the buyer, a private equity firm. Both parties involved in the deal requested anonymity.

November 1, 2021

Acquisitions California Restaurant Retail Western

Progressive Real Estate Arranges $2.7M Acquisition of Jack in the Box Property in Los Angeles County

by Amy Works November 1, 2021

POMONA, CALIF. — Progressive Real Estate Partners has brokered the purchase of a restaurant property located at 101 W. Foothill Blvd. in Pomona. A San Gabriel, Calif.-based private investor acquired the asset from an undisclosed seller for $2.7 million. Mike Lin of Progressive Real Estate Partners represented the buyer in the deal. Jack in the Box has occupied the property, which features a drive-thru lane, for more than 30 years. Originally built in 1976, the property underwent a major renovation in 2020 to reflect the current store branding.

November 1, 2021

Seven-Springs-Apartments-Burlington-Massachusetts

Acquisitions Massachusetts Multifamily Northeast

CBRE Arranges Sale of 331-Unit Apartment Community in Burlington, Massachusetts

by Taylor Williams November 1, 2021

BURLINGTON, MASS. — CBRE has arranged the sale of Seven Springs, a 331-unit apartment community located in the northern Boston suburb of Burlington. The property was built on 37.8 acres in 2006. Amenities include a pool, fitness center, clubhouse, leasing office, resident lounge, outdoor patio and grilling area and walking trails. Simon Butler, Biria St. John and John McLaughlin of CBRE represented the seller, a joint venture between Clarion Partners and National Development, and procured an undisclosed institutional investor as the buyer.

November 1, 2021

Acquisitions Loans Massachusetts Multifamily Northeast

Taurus Investment Holdings Buys Apartment Community in Ashland, Massachusetts for $53.6M

by Taylor Williams November 1, 2021

ASHLAND, MASS. — Boston-based global private equity firm Taurus Investment Holdings has purchased Chestnut Place, a 207-unit apartment community located in the western Boston suburb of Ashland, for $53.6 million. Built in 1971, the property offers studio, one- and two-bedroom units that are furnished with recently upgraded cabinets and kitchens. According to Apartments.com, residences range in size from 373 to 1,000 square feet. Communal amenities include a pool, onsite laundry facilities, a pet play area and package handling service. The seller was not disclosed. Jamie Leachman, Jackie Meagher, and Sean O’Brien arranged acquisition financing through CBRE Global Investors on behalf of Taurus.

November 1, 2021

Acquisitions Midwest Minnesota Retail

NAI Legacy Acquires Five-Property Retail Portfolio Across Four States for $20.5M

by Kristin Harlow November 1, 2021

MINNEAPOLIS — Minneapolis-based NAI Legacy has acquired a portfolio of five retail properties for $20.5 million. Stablewood Properties was the seller. The assets include a CVS Pharmacy in Florida, a 7-Eleven in Colorado, a Sherwin-Williams in Missouri, an Advance Auto Parts in Florida and a Tractor Supply Co. in Pennsylvania. NAI Legacy will place the portfolio in a Delaware Statutory Trust, which often meets the demand for 1031 investors.

November 1, 2021

Acquisitions Healthcare Midwest Ohio

Fairfield Advisors Brokers $8M Sale of Medical Office Portfolio in Metro Akron

by Kristin Harlow November 1, 2021

AKRON, OHIO — Fairfield Advisors has brokered the sale of the Crystal Clinic medical office portfolio in metro Akron for $8 million. The portfolio consists of 26,500 square feet and is utilized for orthopedic services, including surgery, imaging and physical therapy. With over 40 physicians, Crystal Clinic is one of the largest independently owned orthopedic practices in Ohio. Ben Whitney and Greg Trainor of Fairfield represented the seller in the transaction. Buyer and seller information was not provided.

November 1, 2021

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