Acquisitions

Catalyst Equity Partners Buys 290-Unit Apartment Community in Northwest Houston

by Taylor Williams October 5, 2021

HOUSTON — Dallas-based investment firm Catalyst Equity Partners has purchased The Landings at Steeplechase, a 290-unit apartment community in northwest Houston. According to Apartments.com, the property was built in 1981, offers one-, two- and three-bedroom units ranging in size from 501 to 1,088 square feet and includes amenities such as a pool and a fitness center. The seller and sales price were not disclosed. Catalyst plans to invest about $2.5 million in capital improvements to the property.

October 5, 2021

Acquisitions Multifamily Texas

Greystone Brokers Sale of 109-Unit Apartment Complex in Garland, Texas

by Taylor Williams October 5, 2021

GARLAND, TEXAS — Greystone has brokered the sale of Oak Creek, a 109-unit apartment complex in Garland, a northeastern suburb of Dallas. According to Apartments.com, the property was built in 1964 and offers one-, two- and three-bedroom units ranging in size from 568 to 1,000 square feet. Mark Allen of Greystone brokered the deal. The new ownership plans to implement a value-add program. Both parties involved were Texas-based limited liability companies.

October 5, 2021

Acquisitions Office South Carolina Southeast

CBRE Arranges $31.3M Sale of Office Campus in Charleston

by Julia Sanders October 5, 2021

CHARLESTON, S.C. — CBRE has arranged the sale of South Park Plaza, a three-building office park in Charleston. Boyd Watterson purchased the property from an entity doing business as JEMA II LLC for $31.3 million. Charles Carmody, Patrick Gildea, Matt Smith, Grayson Hawkins and Ryan Carmody of CBRE represented the seller in the transaction. Located at 1-3 South Park Circle, South Park Plaza is a 139,060-square-foot property situated close to Interstate 526 and Citadel Mall, a shopping center anchored by Belk, Dillard’s, Target, Bath & Body Works and Loft. Since 2018, South Park Plaza has been 90.6 percent leased to tenants including The Medical University of South Carolina Hospital Authority.

October 5, 2021

Acquisitions Multifamily Texas

Greysteel Arranges Sale of 54-Unit Multifamily Property in Liberty Hill, Texas

by Taylor Williams October 5, 2021

LIBERTY HILL, TEXAS — Greysteel has arranged the sale of Stubblefield Park, a 54-unit multifamily property in Liberty Hill, a northern suburb of Austin. Built in 2016, the property consists of 14 buildings on a five-acre site. J.R. Ellis and Harrison Cole of Greysteel represented the seller in the transaction and arranged acquisition financing through a regional bank on behalf of the buyer. Both parties involved in the transaction requested anonymity.

October 5, 2021

The-Cove-Apartments-Hingham-Massachusetts

Acquisitions Massachusetts Multifamily Northeast

CBRE Brokers $139.2M Sale of The Cove Apartments in Hingham, Massachusetts

by Taylor Williams October 5, 2021

HINGHAM, MASS. — CBRE has brokered the $139.2 million sale of The Cove, a 220-unit apartment community in Hingham, located south of Boston. Built in 2020, the property offers a mix of one-, two- and three-bedroom units with hardwood-style flooring, custom cabinets, artisan tile backsplashes and stainless steel appliances. Amenities include a pool, social lounge, fitness center, coworking spaces and pet grooming station. Simon Butler, Biria St. John and John McLaughlin of CBRE represented the seller, a joint venture between Arizona-based Alliance Residential and an institutional investor, in the transaction. The trio also procured an undisclosed institutional investor as the buyer.

October 5, 2021

Acquisitions Georgia Retail Southeast

Stan Johnson Co. Brokers $3.3M Sale of Thomson Plaza Shopping Center Near Augusta, Georgia

by Julia Sanders October 5, 2021

THOMSON, GA. — Stan Johnson Co. has brokered the sale of Thomson Plaza, a 96,495-square-foot retail center located at 308-324 W. Hill St. in Thomson, about 33 miles west of Augusta. Doug Clyburn and Julie Clyburn of Stan Johnson Co. represented the seller, an entity doing business as Thomson Plaza LLLP, which had owned the grocery-anchored property for over 49 years. A private 1031 exchange buyer from Statham, Ga., purchased the shopping center for approximately $3.3 million. Thomson Plaza is a KJ’s Market-anchored community center situated on more than 10.5 acres. The retail center was 98 percent leased at the time of sale to 13 tenants including Bealls Outlet, Family Dollar, Aaron’s and Subway. Built in 1972, the property had renovations done in 1990.

October 5, 2021

Acquisitions Office Retail Southeast Virginia

Kroger Sells Former Regional Headquarters Office in Roanoke for $3.1M

by Julia Sanders October 5, 2021

ROANOKE, VA. — Kroger LP I has sold its former regional headquarters located at 3631 Peters Creek Road in Roanoke. Fenton Childers and Austin Newman of S.L. Nusbaum Realty Co. represented Kroger in the transaction. The buyer, Roanoke-based The Branch Group Inc., purchased the property for $3.1 million. Steve Zegarski and Jason Fountain of Waldvogel Commercial Properties Inc. represented the buyer. Built in 1983, the 58,690-square-foot, two-story office building sits on 9.5 acres and functioned as Krogers regional headquarters for the Mid-Atlantic division. Kroger occupied the property until 2020.

October 5, 2021

Acquisitions Healthcare Midwest Wisconsin

Physicians Realty Trust Agrees to Acquire Medical Office Portfolio for $764.3M

by Kristin Harlow October 5, 2021

MILWAUKEE — Physicians Realty Trust (NYSE: DOC), through its operating partnership Physicians Realty LP, has agreed to acquire a 15-building medical office portfolio for $764.3 million. The Class A buildings are located in eight states and comprise approximately 1.4 million square feet. The portfolio is roughly 95 percent leased. Each of the buildings are either located on a health system campus or are affiliated with a health system. The transaction is expected to close before the end of the year. The seller and property names were undisclosed. Physicians Realty Trust is a Milwaukee-based healthcare real estate company that acquires, develops, owns and manages properties that are leased to physicians, hospitals and healthcare delivery systems.

October 5, 2021

Acquisitions Illinois Midwest Retail

Whole Foods-Anchored Retail Center in Suburban Chicago Sells for $67.2M

by Kristin Harlow October 5, 2021

EVERGREEN PARK, ILL. — Evergreen Plaza, a recently redeveloped, 255,249-square-foot retail center in the Chicago suburb of Evergreen Park, has sold for $67.2 million. The sale represents the largest single-asset retail sales transaction in the Chicago area this year, according to JLL, which brokered the sale. Anchored by Whole Foods Market, Evergreen Plaza is also home to TJ Maxx, Burlington, Five Below, Ulta Beauty, DSW and Planet Fitness. The property is 94 percent leased. Amy Sands, Clinton Mitchell and Michael Nieder of JLL represented the seller, a partnership between funds managed by affiliates of Fortress Investment Group LLC and Lormax Stern. LBX Investments acquired the asset. Christopher Knight and Gregg Shapiro of JLL arranged a 10-year, fixed-rate acquisition loan in the amount of $45.4 million through Angel Oak Commercial Lending.

October 5, 2021

Acquisitions Georgia Retail Southeast

JLL Arranges $16 Million Sale of Kroger-Anchored Retail Center in Metro Atlanta

by Julia Sanders October 4, 2021

ATLANTA — JLL Capital Markets has arranged the $16 million sale of Main Street South Fulton, a 129,449-square-foot, Kroger-anchored shopping center in the Atlanta neighborhood of South Fulton. Main Street South Fulton is fully leased to retailers including Dollar Tree, Rainbow USA, Pizza Hut and Subway. Located at 6055 Old National Highway, the shopping center is approximately three miles south of Hartsfield-Jackson Atlanta International Airport. Brad Buchanan, Jim Hamilton and Andrew Kahn of JLL represented the seller, Atlanta-based M&P Shopping Centers, in the transaction. Benjamin Bruner of the Bruner Group represented the buyer, New York City-based Irgang Group Inc.

October 4, 2021

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