Acquisitions

Progressive Real Estate Partners Brokers $4.8M Sale of Former Food 4 Less Store in Corona, California

by Amy Works January 21, 2021

CORONA, CALIF. — Progressive Real Estate Partners has arranged the sale of a former Food 4 Less grocery store located at 109 N. McKinley St. in Corona. Expert Hardware Flooring acquired the property for $4.8 million. The buyer plans to use the 55,000-square-foot building as a showroom and wholesale distribution center for its commercial flooring. Built in 1989, the building features an open floor plan, two loading docks and bay doors, pylon signage along McKinley Street and expansive parking. Greg Bedell and Paul Su of Progressive Real Estate Partners represented the seller, a West Los Angeles-based private investor group, while Barrett Woods with Lee & Associate represented the buyer in the deal.

January 21, 2021

Acquisitions Healthcare Midwest North Dakota

MedProperties Acquires 42-Bed Inpatient Rehab Facility in Fargo, North Dakota

by Kristin Harlow January 21, 2021

FARGO, N.D. — MedProperties Realty Advisors has acquired a Post Acute Medical (PAM) inpatient rehab facility in Fargo for an undisclosed price. The 42-bed hospital spans 57,000 square feet. It is fully leased to PAM on an absolute net basis for 18 years. The property is the only inpatient rehab facility in the state, and it also serves portions of Minnesota and South Dakota, according to MedProperties. Siemens Financial provided debt for the acquisition. P.J. Camp and Mathew Tarpley of Hammond Hanlon Camp LLC arranged the transaction. The seller information was not disclosed.

January 21, 2021

Acquisitions Midwest Nebraska Retail

98,837 SF Shopping Center in Omaha Trades Hands for $12.7M

by Kristin Harlow January 21, 2021

OMAHA, NEB. — The 98,837-square-foot 72nd Crossing Shopping Center in Omaha has traded hands for $12.7 million. Situated in the 72nd Street Corridor, the property was fully leased at the time of sale to tenants such as Michaels, PetSmart, Big Lots and Dunkin’. Ember Grummons of Investors Realty represented the seller, NewStreet Properties. Jason Taylor of Equity Management Group represented the buyer, Kentucky-based LVP Center LLC.

January 21, 2021

Acquisitions Affordable Housing Illinois Midwest Multifamily

Affordable Housing Investment Brokerage Arranges $8.1M Sale of Levy House in Chicago

by Kristin Harlow January 21, 2021

CHICAGO — Affordable Housing Investment Brokerage (AHIB) has arranged the sale of Levy House in Chicago’s East Rogers Park neighborhood for $8.1 million. AHIB partnered on the listing with Kiser Group. Kyle Shoemaker of AHIB represented the buyer, Preservation of Affordable Housing (POAH), as well as the seller, a nonprofit entity. Levy House is a 57-unit, seven-story apartment building that offers one-bedroom floor plans. POAH plans to preserve the property’s affordability status. POAH will work with the City of Chicago and Chicago Housing Authority to execute a modernization plan. POAH now owns roughly 2,000 apartment units in Chicago.

January 21, 2021

Acquisitions Illinois Midwest Multifamily

Interra Realty Brokers $5.5M Sale of Two-Building Apartment Portfolio in Chicago’s South Shore

by Kristin Harlow January 21, 2021

CHICAGO — Interra Realty has brokered the $5.5 million sale of a two-building apartment portfolio in Chicago’s South Shore neighborhood. The properties include the 30-unit 7646 S. Essex Ave. and the 33-unit 7800 S. Phillips Ave. The price per unit was $86,667. Both buildings were constructed in 1926 and offer a mix of one-, two- and three-bedroom floor plans. The properties were renovated to include in-unit HVAC, onsite laundry, key fob entry and security systems. They were 88 percent occupied at the time of sale. Ted Stratman and Jeremy Morton of Interra represented the seller, Iron Bridge Lending, as well as the buyer, a local multifamily owner and operator.

January 21, 2021

Acquisitions Illinois Industrial Midwest

Venture One Acquires 17,900 SF Industrial Building in Waukegan, Illinois

by Kristin Harlow January 21, 2021

WAUKEGAN, ILL. — Venture One Real Estate has acquired a 17,900-square-foot industrial building located at 1161 S. Northpoint Blvd. in Waukegan for an undisclosed price. Constructed in 2000, the property was vacant at the time of acquisition. It features two exterior docks, one drive-in door, 2,476 square feet of office space and parking for 31 cars. Ralph Huszagh of JC Forney Realty Inc. represented the undisclosed seller and will be retained by Venture One to market the building for lease. Venture One acquired the asset via its acquisition fund VK Industrial V LP, which is a partnership between Venture One and Kovitz Investment Group.

January 21, 2021

Acquisitions Connecticut Multifamily Northeast

Chozick Realty Negotiates Sale of 139-Unit Apartment Building in Hartford

by Taylor Williams January 21, 2021

HARTFORD, PA. — Locally based brokerage firm Chozick Realty has negotiated the $9.6 million sale of Lafayette Arms Apartments, a 139-unit multifamily building in Hartford. Built in 1968, the four-story building predominantly features one-bedroom units. Tom Boyle of Chozick Realty marketed the property on behalf of the seller, Lafayette Arms LLC, and procured the buyer, a regional investment firm.

January 21, 2021

Acquisitions Northeast Office Pennsylvania Retail

Colliers Brokers Sale of 74,452 SF Bicentennial Building in Wilkes-Barre, Pennsylvania

by Taylor Williams January 21, 2021

WILKES-BARRE, PA. — Colliers International has brokered the sale of the Bicentennial Building, a 74,452-square-foot office and retail property in Wilkes-Barre, located near Scranton in the northeastern part of the state. The six-story building was 83 percent occupied at the time of sale. Bicentennial Building Associates sold the asset to a private investment group based in the New York metro area. Jeff Algatt and John Susanin of Colliers brokered the deal.

January 21, 2021

Acquisitions Arizona Development Multifamily Top Stories Western

Zom Living to Invest More than $500M to Develop Five Multifamily Communities in Phoenix, Scottsdale

by Alex Tostado January 21, 2021

PHOENIX AND SCOTTSDALE, ARIZ. — Zom Living has released plans to develop five multifamily communities in Phoenix and Scottsdale. The Orlando, Florida-based company expects to invest more than $500 million in the properties. Zom Living has acquired four parcels totaling 32.7 acres through an auction in the U.S. Bankruptcy Court. The developer expects to break ground on all five communities — which are yet to be named — in the fourth quarter of this year. Zom Living acquired two parcels totaling 26 acres in the Desert Ridge/North Phoenix submarket of Phoenix. The two communities Zom plans to build will feature a combined 600 units along the Loop 101 Highway on 56th Street. The assets will be situated within walking distance of Desert Ridge Marketplace. In downtown Scottsdale, the developer plans to build 749 units across two communities. The assets will span 3.8 acres at the intersection of Scottsdale and Camelback roads. The property is located adjacent to the Scottsdale Fashion Square and the Scottsdale Entertainment District. In Phoenix’s Biltmore District, Zom Living plans to develop 300 units on 2.9 acres. The property is located at the intersection of Highland Avenue and 24th Street, two blocks from the Biltmore Fashion Park …

January 21, 2021

Acquisitions Multifamily South Carolina Southeast Student Housing

University Partners Acquires 494-Bed Student Housing Community Near Clemson University

by Alex Tostado January 20, 2021

CLEMSON, S.C. — University Partners has acquired Grandmarc, a 494-bed student housing community located near Clemson University in South Carolina. The property was built in 2017 and offers two- and four-bedroom units with bed-to-bath parity, as well as 9,000 square feet of retail space. Communal amenities include a pool and hot tub, 24-hour fitness center, clubhouse, private study rooms and a sand volleyball court. University Partners will oversee management of the community. Ryan Lang, Jack Brett and Ben Harkrider of Newmark brokered the transaction. The seller and terms of the transaction were not disclosed.

January 20, 2021

Newer Posts

Older Posts