Acquisitions

IDEAL Capital Sells Oak View Apartments in Visalia, California for $42.5M

by Amy Works November 4, 2020

VISALIA, CALIF. — IDEAL Capital Group has completed the disposition of Oak View Apartments, a multifamily community located at 4700 W. Caldwell Ave. in Visalia. A Southern California-based private investor acquired the asset for $42.5 million. Alex Mogharebi, Otto Ozen, Robin Kane, Brendan Kane and Mark Bonas of The Mogharebi Group (TMG) represented the seller in the deal. Built in 1990 on 16.4 acres, Oak View Apartments features 237 units spread across 48 buildings totaling 209,610 rentable square feet. Units are available in one-, two- and three-bedroom floor plans with an average size of 884 square feet. Community amenities include two outdoor pools and spas, two playgrounds, three laundry centers, a business center, fitness center, basketball/volleyball courts, reserved covered parking and garages.

November 4, 2020

Acquisitions Industrial Nevada Self-Storage Western

Strategic Storage Growth Trust Acquires 950-Unit Self-Storage Facility in Las Vegas

by Amy Works November 4, 2020

LAS VEGAS, NEV. — Strategic Storage Growth Trust II (SSGT II), a private real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, has purchased a newly constructed self-storage facility in Las Vegas. Terms of the transaction were not released. Located at 5730 S. Durango Drive, the air-conditioned, 950-unit facility features 99,300 square feet of rentable space, camera surveillance, secured and alarmed doors, gated entry, LED lighting, ground-floor drive-up units, interior climate-controlled units with two easily accessible large capacity elevators, and covered exterior parking for RV/boats. The acquisition represents SSGT II’s first purchase in Las Vegas and the ninth property owned or managed by SmartStop in the Las Vegas market.

November 4, 2020

Acquisitions Development Multifamily Southeast Tennessee

Alliance Residential Buys Land in Nashville to Develop Broadstone SoBro Apartments

by John Nelson November 4, 2020

NASHVILLE, TENN. — Alliance Residential Co. has purchased 1.5 acres at 800 4th Ave. S. in Nashville for its next apartment development, Broadstone SoBro. The 226-unit community will feature studio, one- and two-bedroom layouts averaging 780 square feet. The Phoenix-based developer plans to break ground before the end of the year and deliver the property in 2022. Designed by Brock Hudgins Architects, Broadstone SoBro will feature a fitness room, terrace-level library with private working pods, saltwater pool with a pool deck, entertainment bar and a sky lounge champagne bar including private seating areas, a fireplace and an outdoor amenity deck. Interiors will feature shaker cabinetry, modern backsplashes, quartz countertops, pendant lighting, new appliances, built-in desks and mud benches. This is Alliance Residential’s third project in Nashville this year. The firm’s Broadstone Stockyards in the city’s Germantown neighborhood began welcoming residents in March. The firm’s other project is Broadstone Nations that is set to open in 2022.

November 4, 2020

Acquisitions Loans Multifamily Seniors Housing Southeast Virginia

M&T Realty Capital Provides $17.1M Acquisition Loan for Seniors Housing Community in Sterling, Virginia

by John Nelson November 4, 2020

STERLING, VA. — M&T Realty Capital Corp. has provided a $17.1 million Fannie Mae acquisition loan for Cascades Village, a 150-unit affordable seniors housing community in Sterling. Matthew Hodson of M&T originated the 10-year loan on behalf of the borrower, Avanath Capital Management. The financing features 10 years of interest-only payments and a fixed interest rate of 2.58 percent. Amenities at Cascades Village include community room with a kitchen, library, TV room, movie theater, beauty parlor, onsite dentist and podiatrist, exercise room, sitting porch and a patio with a grill and a gazebo.

November 4, 2020

Acquisitions Multifamily Texas

First Capital Advisors Buys 180-Unit Apartment Community in Metro Dallas

by Taylor Williams November 4, 2020

EULESS, TEXAS — First Capital Advisors, a private investment firm with offices in metro Chicago and Austin, has purchased Riverside Villas, a 180-unit apartment community located near DFW International Airport in Euless. Built in 2019, Riverside Villas offers one-, two- and three-bedroom units and amenities such as a pool, fitness center and a business center. Chris Deuillet, Jeremy Faltys and William Hubbard of CBRE represented the seller, Dallas-based Trinity Postoak Ltd., in the transaction. Jeff Stein, Michael Thompson and Brock Hudson of CBRE arranged acquisition financing on behalf of First Capital Advisors. The property was 94 percent occupied at the time of sale.

November 4, 2020

Acquisitions Industrial NAI Office Texas

NAI Partners Arranges Sale of 153,000 SF Office, Cold Storage Facility in Metro Houston

by Taylor Williams November 4, 2020

SUGAR LAND, TEXAS — NAI Partners has arranged the sale of a 153,000-square-foot office, cold storage and food processing facility located at 10631 Corporate Drive in the southwestern Houston suburb of Sugar Land. Zane Carman and Clay Pritchett of NAI Partners represented the buyer, an unnamed national food manufacturing company, in the transaction. Jarret Venghaus, David Buescher and Jordan Raney of JLL represented the seller, Midway Corp. Partners LP.

November 4, 2020

Acquisitions Industrial Texas

Moody Rambin Brokers Sale of 33,000 SF Industrial Property in Northeast Houston

by Taylor Williams November 4, 2020

HOUSTON — Moody Rambin has brokered the sale of Bennington Street Business Park, a two-building, 33,000-square-foot industrial property located at 301 Bennington St. in northeast Houston. The property was built on 1.3 acres in 1979. Jim Autenreith and Stephen Ghedi of Moody Rambin represented the seller, an undisclosed investor, in the transaction. The buyer was also not disclosed.

November 4, 2020

Stauffer-Industrial-Park-Taylor-Pennsylvania

Acquisitions Industrial Northeast Pennsylvania

Cushman & Wakefield Brokers $30M Sale of 711,200 SF Industrial Building Near Scranton

by Taylor Williams November 4, 2020

TAYLOR, PA. — Cushman & Wakefield has brokered the $30 million sale of a 711,200-square-foot industrial building located at 22 Stauffer Industrial Park Drive in Taylor, a southern suburb of Scranton. One of three buildings in Stauffer Industrial Park, the property features 179 dock doors and 35-foot clear heights and was fully leased at the time of sale. Gerry Blinebury, Gary Gabriel and Daniel Walsh of Cushman & Wakefield represented the seller, SK Realty, in the transaction. The buyer was undisclosed.

November 4, 2020

Acquisitions Multifamily Northeast Pennsylvania

Broadshore Capital Acquires 338-Unit Apartment Community in Pittsburgh

by Taylor Williams November 4, 2020

PITTSBURGH — Los Angeles-based investment firm Broadshore Capital Partners has acquired Liberty Pointe, a 338-unit apartment community in Pittsburgh. Situated on 10.5 acres in the Bethel Park area, the property offers a mix of one- and two-bedroom units with individual washers and dryers and private balconies/patios. Amenities include a pool, fitness center, outdoor grilling and picnic area, pet park, cybercafé and a clubhouse. The seller was not disclosed.

November 4, 2020

Acquisitions Industrial Northeast Pennsylvania

TSW Alloy Wheels Buys 105,840 SF Industrial Facility in Lehigh Valley

by Taylor Williams November 4, 2020

EASTON, PA. — TSW Alloy Wheels, a provider of custom staggered wheels, has purchased a 105,840-square-foot industrial facility situated on a 9.6-acre site in the Lehigh Valley city of Easton from developer J.G. Petrucci & Co. TSW Alloy Wheels will use the newly built property, which features 36-foot clear heights and an ESFR sprinkler system, as a new regional distribution center. Paul Weiss of PF Weiss Realty brokered the deal.

November 4, 2020

Newer Posts

Older Posts