SAN DIEGO AND LOS ANGELES — Berkadia has arranged the sale and financing of two senior living communities located in Southern California. Situated within suburbs of San Diego and Los Angeles, respectively, the properties include an 84-unit assisted living community and a 72-unit memory care community. Together, the communities were roughly 90 percent occupied at the time of financing. Mike Garbers, Cody Tremper, Ross Sanders and Dave Fasano of Berkadia brokered the sale on behalf of the seller, a private owner. Ed Williams and Steve Muth of Berkadia secured acquisition financing through Berkadia’s proprietary lending group on behalf of the undisclosed buyer. The bridge-to-HUD loans feature interest-only payments for 24 months.
SAN DIEGO — CBRE has arranged the sale of La Plaza La Jolla, a multi-tenant retail ground lease located at 7863-7877 Girard Ave. within La Jolla Village in San Diego. A private family office acquired the asset from La Plaza Investment for $10.2 million. Built in 1986 and renovated in 2015, the 28,866-square-foot property is fully leased to a mix of restaurant, boutique and experiential tenants. Michael Peterson, Reg Kobzi and Jimmy Slusher of CBRE represented the seller in the transaction.
LAS VEGAS — Avison Young has facilitated the sale of an 18,000-square-foot retail property located at 6315 S. Rainbow Blvd. in Las Vegas. A Las Vegas-based private trust sold the asset to Syndicate MMA, a mixed martial arts gym and property tenant since 2019, for $6.6 million. Syndicate MMA occupies 15,000 square feet of the building, with a salon and medical practice occupying the remaining space. Hillary Steinberg and Corina Towle of Avison Young represented the seller, while Kevin Jacobson of Iron Will LLC represented the buyer in the deal.
MAPLE GROVE, MINN. — CBRE has negotiated the sale of Mills Creek, a 66-unit build-to-rent community in the Twin Cities suburb of Maple Grove. Curtis Capital Group purchased the property from a joint venture between Watermark and PCCP for an undisclosed amount. CBRE’s Ted Abramson, Keith Collins and Abe Appert represented the seller. Built in 2019, the asset features detached homes averaging 1,679 square feet. Amenities include a clubroom, business center, pool, dog park, fitness center, community garden and walking trails.
CHICAGO — Interra Realty has arranged the sales of two Chicago apartment buildings. A 14-unit property constructed in 2023 at 5069 N. Northwest Highway in the Jefferson Park neighborhood sold for $5.7 million, while an eight-unit building completed in 2020 at 2034 N. Avondale Ave. in the Bucktown neighborhood traded for $4.9 million. Brad Feldman of Interra represented the seller, a private local developer, in both transactions. Michael Duckler of Interra represented the confidential buyer of 5069 N. Northwest Highway. The private buyer of 2034 N. Avondale Ave. acquired the property as part of a 1031 exchange and assumed the seller’s debt on the asset. Both properties were fully occupied at the time of sale.
ELK GROVE VILLAGE, ILL. — Entre Commercial Realty has brokered the sale of a 42,780-square-foot industrial facility at 2375 Estes Ave. in Elk Grove Village within the O’Hare submarket. The freestanding property features three docks, two drive-in doors, heavy power, a clear height of 22 feet and ample car parking. The buyer, Excel Restoration, will use the building as its headquarters. Cory Kay, Mike DeSerto and Elisabeth Lazzara of Entre represented the undisclosed seller, while colleague Kevin Kaplan represented the buyer.
MCKINNEY, TEXAS — A partnership between Outrigger Industrial and Boston-based Longpoint Partners has sold a 304,576-square-foot industrial building in McKinney, located north of Dallas. The building at 400 Harry McKillop Blvd., which is known as M-75 Commerce Center, was completed in 2024 and was fully leased to a single tenant at the time of sale. Building features include 36-foot clear heights, a cross-dock configuration and climate-controlled space. The buyer and sales price were not disclosed.
HOUSTON — Cushman & Wakefield has brokered the sale of Chisholm Trail Business Center, a two-building, 86,904-square-foot industrial property in North Houston. The rear-load buildings feature 18-foot clear heights and a mix of dock-high, semi-dock and ramp-access doors. Jim Carpenter, Jud Clements, Robby Rieke, Emily Brandt, David Munson and Trevor Berry of Cushman & Wakefield represented the undisclosed seller in the transaction. The buyer was Entrada Partners. The property was 86 percent leased at the time of sale.
NEW YORK CITY — Summit Properties has purchased 444 Madison Avenue, a 500,000-square-foot office building in Midtown Manhattan. The 42-story building occupies an entire blockfront between East 49th and 50th streets and offers amenities such as a tenant lounge, café, conference center and two landscaped terraces. Tenants include law firm Schwartz, Sladkus, Reich, Greenberg, Atlas, as well as The Doris Duke Foundation, EOS Hospitality and financial services firm Capital Dynamics. The seller and sales price were not disclosed. Summit Properties has tapped JLL as the new leasing agent.
NEW YORK CITY — JLL has arranged the $28 million sale of a 186,584-square-foot commercial property in the Bay Ridge area of Brooklyn that formerly housed a Century 21 store. The property at 423 88th St. consists of 62,792 square feet of commercial space across three floors and 123,729 square feet of parking across six stories and two roof decks. Jeffrey Julien, Brendan Maddigan and Michael Mazzara of JLL represented the seller, ASG Equities, in the deal. Michael Feratovic of Specialized Realty Group represented the buyer.