DALLAS — Dallas-based Worth Street Partners has acquired Stone Manor, a 108-unit apartment complex in the Bachman Lake area of Dallas. The property was built in 1964 and offers one- and two-bedroom units as well as a pool. An entity doing business as Gomel Texas LLC sold the Class C property for an undisclosed price. Mark Allen of Greystone brokered the deal. The new ownership plans to implement a capital improvement program at Stone Manor, which was 90 percent occupied at the time of sale.
HUMBLE, TEXAS — Marcus & Millichap has brokered the sale of the Comfort Inn & Suites IAH Bush Airport East, a 61-room hotel located in the northern Houston suburb of Humble. Andrew Frosch, Louis Dan, Chris Gomes and Allan Miller of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were private investors that requested anonymity.
CONCORD, N.H. — New Hampshire-based investment firm Brady Sullivan Properties has acquired One Granite Place, an office park that consists of two interconnected mid-rise buildings that are situated on a 181-acre wooded campus. The new ownership plans to implement a value-add program at the 114,000-square-foot South Tower, which was vacant at the time of sale. The seller and sales price were not disclosed.
NEW YORK CITY — Locally based brokerage firm Brax Realty has negotiated the $52.5 million sale of a 65,000-square-foot office building located at 260 Fifth Ave. in between 28th and 29th streets in Manhattan’s NoMad District. The 12-story building was mostly vacant at the time of sale. Michael Ferrara of Brax Realty represented the seller in the transaction. Andrew Zang and Greg Albert of Savills represented the buyer. Both parties requested anonymity.
MARYLAND HEIGHTS, MO. — Monument Capital Management, an A-Rod Corp. subsidiary founded by Alex Rodriguez and Ramon Corona in 2012, has acquired Haven on the Lake in Maryland Heights for $67.3 million. Built in 1974, the 528-unit apartment community is located at 2050 Lakerun Court in suburban St. Louis. Amenities include a fitness center, business center, newly renovated clubhouse and indoor and outdoor tennis courts. Brad Williamson and Wesley Moczul of Berkadia originated $52 million in acquisition financing through Freddie Mac. The six-year loan features a fixed interest rate. Matt Bukhshtaber of CBRE represented the seller, FPA5 Pheasant Run LLC. The acquisition marks Monument’s entry into the Missouri market. Monument plans to implement a capital improvements program throughout the property’s unit interiors as well as the exteriors and community amenities.
EVANSVILLE, IND. — Savills has brokered the sale of Graham Packaging’s plastics manufacturing plant in Evansville for $24.7 million. The 266,720-square-foot, net-leased facility is located at 5504 Foundation Drive within Vanderburgh Industrial Park. Graham Packaging produces 300 million food and beverage containers annually at the property, which was built in 2002 and expanded in 2008. Maurice Nieman of Savills represented the undisclosed seller. SomeraRoad was the buyer.
WARREN, MICH. — Cushman & Wakefield has arranged the $2.6 million sale of the Regal Court medical office property in Warren, a suburb just north of Detroit. The property includes two buildings totaling 40,181 square feet. The anchor tenant is Ascension, which occupies 41 percent. Gino Lollio, Scott Niedergang, Travis Ives and Garrett Keais of Cushman & Wakefield represented the seller, Promanas, an Ann Arbor-based commercial real estate private equity firm. The team also procured the local buyer, CMG Realty Group.
NEW YORK CITY — Ariel Property Advisors has brokered the $3.5 million sale of a 2,700-square-foot retail and residential building in the Kips Bay area of Manhattan that consists of one retail space leased to Dunkin’ and two residential units. Howard Raber, Sean Kelly and Jack Moran of Ariel Property Advisors represented the undisclosed seller in the deal. The buyer and sales price were also not disclosed.
GREENVILLE, S.C. — Capstone Apartment Partners has brokered the $49 million sale of Vantage at Powdersville, a 288-unit, garden-style apartment community in Greenville. The property is situated on 22 acres in west Greenville at the intersection of Anderson Road and State Road 153, about 19 miles from Greenville-Spartanburg International Airport and 7.2 miles from downtown Greenville. Caleb Troop, Austin Green and Alex McDermott of Capstone represented the seller, Vantage Communities, in conjunction with Marcus & Millichap’s Institutional Property Advisors. The buyer is California-based RK Properties, which plans to complete light upgrades to the community amenities and interior units. Built in 2019, Vantage at Powdersville features one-, two- and three-bedroom apartment homes with wood-style flooring, fully equipped kitchens, ceiling fans, walk-in closets, full-size washers and dryers and a patio or balcony. Community amenities include a resort-style swimming pool, fitness center, picnic/grilling area, business center, dog parks and washing stations and garages. The community was approximately 97 percent occupied at the time of closing. Vantage at Powdersville is RK’s third transaction in the Carolinas in the past seven months. The company purchased Haven Pointe at Carolina Forest in Myrtle Beach this year, as well as Novel Research Park in Charlotte late last year. …
PHOENIX — ABI Multifamily has arranged the sale of Parkwood Apartments, a multifamily property in Phoenix. The asset sold for $69.2 million, or $201,30 per unit. The names of the seller and buyer were not released. Built in 2001, Parkwood Apartments consists of 23 residential buildings offering a total of 344 units in a mix of 48 one-bed/one-bath, 48 two-bed/one-bath, 144 two-bed/two-bath and 104 three-bed/two-bath units. All apartments include washers/dryers, air conditioning/heating, vaulted ceilings, private patios, additional storage and fully equipped kitchens. Community amenities include a rental office, fitness center, pool/spa, playground, barbecue grills, picnic area, gated entry and residential parking. Alon Shnitzer, Rue Bax, Eddie Chang and Doug Lazovick of ABI Multifamily’s Phoenix-based Institutional Apartment Group represented the seller and buyer in the deal.