HIALEAH, FLA. — CTO Realty Growth has acquired Westland Gateway, a 108,000-square-foot shopping center in Hialeah, for $21 million. Aldi, dd’s Discount, Ross Dress for Less and Bed Bath & Beyond occupy the property. Westland Gateway is located at 1460 W. 49th St., 15 miles northwest of downtown Miami. Daytona Beach, Fla.-based CTO Realty purchased the asset through a 1031 exchange. The seller was not disclosed.
NASHVILLE, TENN. — Capstone Apartment Partners has arranged the $15 million sale of The Lofts at Rose Monte, a 229-unit apartment complex in south Nashville. The property offers two- and three-bedroom floor plans. Communal amenities include a pool, fitness center, clubhouse and laundry facilities. The property was delivered in 2017 and was 96 percent occupied at the time of the sale. The Lofts at Rose Monte is located at 3705 Lausanne Drive, 12 miles south of downtown Nashville near Brentwood and Franklin, Tenn. Austin Heithcock, Adam Klenk, Tyler Mayo and Jonathan Hawks of Capstone procured the buyer, Washington D.C.-based RSE Capital Partners. The seller was not disclosed.
WALTHAM, MASS. — Marcus & Millichap has arranged the $5.1 million sale of two apartment buildings totaling 21 units in the western Boston suburb of Waltham. The first property is located at 30A Amory Road, totals 11 units and sold for $2.3 million. The second building is located at 266-274 River St., features 10 units and fetched a sales price of $2.8 million. Evan Griffith, Tony Pepdjonovic and Jeremy Buckley of Marcus & Millichap represented the sellers and procured the buyers in both transactions.
EL PASO, TEXAS — W. Silver Recycling, a privately owned firm specializing in industrial waste management, has purchased the 15th floor of WestStar Tower, a new 264,000-square-foot office building in El Paso that is nearing completion. The space will serve as the company’s new headquarters and will house more than 100 employees. W. Silver operates 11 recycling sites along the United States-Mexico border. Hunt Cos. and WestStar are the developers of the building.
PRESCOTT, ARIZ. — Value Investment Group has completed the sale of Prescott Airpark NNN Flex Industrial, an industrial property located at 2286 Crosswind Drive in Prescott. A privately held, California-based 1031 exchange buyer acquired the asset for $3.1 million. Cory Gross of Marcus & Millichap’s Denver office represented the seller in the deal. Gross, along with Ryan Sarbinoff as Marcus & Millichap’s Arizona broker of record, secured and represented the buyer in the transaction. Built in 2000, the property features 30,020 square feet of warehouse and industrial space. At the time of sale, the facility was fully occupied by a mix of national and regional tenants all on triple-net leases.
PALM BEACH GARDENS, FLA. — Gatsby Enterprises has acquired DiVosta Towers, a two-building office campus in Palm Beach Gardens, for $80 million. The buildings comprise 220,000 square feet and offer 889 parking spaces. The buildings also feature 10-foot ceilings, floor-to-ceiling windows, car charging stations and a full-time concierge. The seller, Gardens Corporate Center LLC, which is an affiliate of DiVosta Investments, delivered the campus in 2019. The asset was 70 percent leased at the time of sale to tenants including JP Morgan and Comiter, Singer, Baseman & Braun LLP. The New York City-based buyer has hired Jon Blunk of Tower Commercial Real Estate to oversee leasing for both buildings. DiVosta Towers is located at 3874 Kyoto Gardens Drive, 12 miles north of downtown West Palm Beach.
LITTLE ROCK, ARK. — Montecito Medical Real Estate has acquired a four-building healthcare property portfolio in Little Rock’s west side. The buildings comprise 72,566 square feet and were fully leased to Arkansas Urology at the time of sale. The portfolio includes three medical office buildings and an ambulatory surgery center. The medical office buildings are situated adjacently to each other at 1300 Centerview Drive, seven miles west of downtown Little Rock. The buildings include a 37,718-square-foot clinic, a 6,723-square-foot cancer treatment center and a 12,475-square-foot outpatient clinic. The 15,650-square-foot ambulatory surgery center is located at 1310 Centerview Drive, less than one mile from the medical office buildings and two miles from Baptist Health-Little Rock Hospital. The seller(s) and sales price were not disclosed.
DECATUR, GA. — Olive Tree Property Holdings LLC has sold The Life at Peppertree Circle, a 167-unit multifamily community in Decatur, for $13.1 million. The property offers one- and two-bedroom floor plans and a pool. The asset is located at 3321 Peppertree Circle, 11 miles east of downtown Atlanta. Olive Tree acquired the complex in 2017 for $4.8 million. The New York City-based company implemented a value-add program, which included restoring 32 units that were damaged due to fire. The buyer was not disclosed.
LOS ANGELES — Los Angeles-based Colony Capital has entered into a definitive agreement to sell six of its hospitality portfolios to Highgate, a hospitality investment and management firm, for $67.5 million. The six portfolios consist of 22,676 rooms across 197 individual hotels. The transaction is expected to close in the first quarter of 2021, subject to customary closing conditions and third-party approvals. The portfolio, valued at $2.8 billion, includes the assumption of approximately $2.7 billion in consolidated investment-level debt. Moelis & Co. served as financial advisor to Colony Capital in connection with the transaction, and Willkie Farr & Gallagher LLP served as legal counsel for the seller. Latham & Watkins LLP served as legal counsel for the New York City-based buyer.
PHOENIX — Marcus & Millichap has arranged the sale of Sora on Rose, a multifamily property located at 6201 N. 16th St. in Phoenix’s Uptown neighborhood. The property traded for $14.5 million, or $157,609 per unit. Paul Bay of Marcus & Millichap represented the undisclosed seller, while Darrell Moffitt, also of Marcus & Millichap, represented the undisclosed buyer in the deal. Built in 1971 on 2.7 acres, Sora on Rose features 92 apartments with an average unit size of 815 square feet. Amenities include a clubhouse, laundry services, covered parking, swimming pool and a fitness center.