WASHINGTON, D.C. — JLL Capital Markets has arranged a $352.7 million financing package for the Fundrise National Industrial Portfolio, a collection of 12 institutional-quality industrial buildings concentrated in the Mid-Atlantic and Sun Belt regions. Goldman Sachs and TPG Real Estate Credit provided the loan to an affiliate of Fundrise, a private equity firm based in Washington, D.C. Robert Carey, Carl Beardsley, Jason Carlos, Gus Caiola and Patrick Wu of JLL’s Debt Advisory team arranged the loan, which will be used to refinance the portfolio. “This financing will enable us to advance our long-term business plan for the industrial portfolio, create value for our investors and capitalize on the strong macro tailwinds in the industrial sector today,” says Brandon Jenkins, chief operating officer of Fundrise. Buildings within the portfolio, which totals roughly 3.2 million square feet, feature LED lighting, ESFR sprinkler systems, cross-dock configurations and clear heights ranging from 23 feet to 40 feet. “This portfolio represents a compelling investment opportunity, offering both geographic diversification and strong income stability from a quality tenant roster,” says Carey. “The strategic locations near major transportation networks, including international airports and key interstate corridors, position these assets to benefit from continued logistics demand.” The facilities …
Acquisitions
IRVING, TEXAS — Cushman & Wakefield has brokered the sale of Parc GSW, a 682,491-square-foot industrial property in Irving. Completed in 2017 by a partnership between Jackson-Shaw and Clarion Partners, Parc GSW consists of two buildings that total 450,340 and 232,151 square feet. Both buildings were fully leased at the time of sale to single tenants. Cushman & Wakefield’s Jim Carpenter, Jud Clements, Robby Rieke and Emily Brandt represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.
CLIFTON PARK, N.Y. — Cushman & Wakefield and Pyramid Brokerage Co. have co-arranged the $82.4 million sale of Foxrun Apartments and North Pointe Apartments, two multifamily properties in the upstate New York community of Clifton Park. Spanning 41 acres, Foxrun Apartments offers 468 units. Spanning 12 acres, North Pointe Apartments totals 198 units. Affiliates of The Solomon Organization sold the properties to Merion Realty Partners, which partnered with Eastham Capital on the deal. Niko Nicolaou, Ryan Dowd, Peter Welch, J.P. Hohl and Alexandria Russo Ebers of Cushman & Wakefield, alongside Jonathan Weinstein, Robert Stewart and Joseph Mahoney of Pyramid Brokerage Co. represented both parties in the transaction. Both properties were more than 90 percent occupied at the time of sale.
LAUREL, MD. — CBRE has arranged the sale of a 55,598-square-foot medical outpatient building located at 7140 Contee Road in Laurel, about 22 miles northeast of Washington, D.C. Catalyst Healthcare Real Estate sold the property, which is anchored by the University of Maryland Medical System and the University of Maryland Faculty Physicians, to UDLR Partners, a joint venture between GI Partners and former executives from Healthcare Trust of America. Chris Bodnar, Brannan Knott, Mindy Berman, Zack Holderman, Cole Reethof, Jesse Greshin and Tim Connolly of CBRE represented the seller in the transaction. The sales price was not disclosed. Delivered in spring 2024, the medical outpatient building is located on the campus of the University of Maryland Laurel Medical Center. Both properties were constructed on a parallel timeline, marking the completion of Phase I of a health and wellness destination campus.
TSB Realty Arranges Sale of 221-Bed Student Housing Community Near Oregon State University
by Amy Works
CORVALLIS, ORE. — TSB Realty has arranged the sale of The Union Corvallis, a 221-bed student housing community located near the Oregon State University campus in Corvallis. Delivered in 2013, the property offers 68 units in a mix of one-, two- and four-bedroom configurations. Shared amenities include a clubhouse with pool and ping pong tables, an outdoor sundeck and grilling area, a resident lounge with a television, study lounge with private study spaces, a computer station and library area. Cardinal Group Cos. acquired the property for an undisclosed price. The seller was not released.
Levin Johnston Negotiates $15.6M Sale of Manteca Golf & Tennis Villas in California’s Central Valley
by Amy Works
MANTECA, CALIF. — Levin Johnston of Marcus & Millichap has brokered the purchase of Manteca Golf & Tennis Villas, an apartment community in Manteca. The asset traded for $15.6 million. Adam Levin, Robert Johnston and Joshua Velo of Marcus & Millichap’s Levin Johnston represented the undisclosed buyer in the deal. Located at 367 N. Union Road, Manteca Golf & Tennis Villas offers 56 apartments.
LITTLETON, COLO. — CBRE, on behalf of Broe Real Estate Group, has arranged the sale of Mineral Medical Plaza, a Class A medical outpatient building in Littleton. Terms of the transaction were not disclosed. Located at 1501 W. Mineral Ave., the two-story Mineral Medical Plaza offers 39,300 square feet of medical office space, including a multi-speciality surgery center. The property was repositioned in 2020, undergoing extensive renovations to be transformed into an outpatient healthcare center. Chris Bodnar, Brannan Knott, Mindy Berman, Zack Holderman, Cole Reethof, Trent Jemmett, Jessie Greshin and Blake Holcomb of CBRE represented the seller in the deal.
SOUTH PLAINFIELD, N.J. — JLL has negotiated the $40 million sale of a 219,848-square-foot shopping center in South Plainfield, about 40 miles southwest of New York City. Golden Acres Shopping Center was 83 percent leased at the time of sale, with grocer ShopRite serving as the anchor. Other tenants include Shoppers World, Unique Thrift Store and Wendy’s. Jose Cruz, J.B. Bruno, Kevin O’Hearn, Michael Kavaler and Joseph Lopresti represented the undisclosed seller in the transaction. The buyer was a joint venture between Agus Holdings and Treeco.
PLAINFIELD, ILL. — Pharmacy Automation Supplies has purchased 4.4 acres at Plainfield Business Center, Lot 6, for a new build-to-suit warehouse and office facility. The manufacturer and distributor of consumables to retail and healthcare organizations is relocating to Plainfield from a smaller space in Romeoville. The seller, Northern Builders, will construct a 30,000-square-foot building within the complex. Completion is slated for the end of the year. Terry Grapenthin and Ryan Earley of Lee & Associates of Illinois represented Pharmacy Automation Supplies in the transaction.
LIBERTYVILLE, ILL. — Marcus & Millichap has brokered the nearly $3 million sale of The Shops of Northwind, a 20,416-square-foot retail strip center in the Chicago suburb of Libertyville. The four-suite property at 1745 Northwind Blvd. is fully occupied. Brian Parmacek of Marcus & Millichap represented the seller, EMPSAFE LLC. The asset sold at 95 percent of the list price.