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Acquisitions

AcquisitionsGeorgiaMultifamilySoutheast

Beacon Real Estate Acquires Multifamily Community Near Atlanta for $53.2M

by Alex Tostado

GAINESVILLE, GA. — Beacon Real Estate Group has acquired 53 West, a 266-unit multifamily community in Gainesville, for $53.2 million. The property, which was delivered in 2019, offers one-, two- and three-bedroom floor plans. Communal amenities include a clubhouse, resident lounge, fitness center, pool and a dog park. The complex is located at 1000 Woodacres Road, 49 miles northeast of downtown Atlanta. The community was 99 percent occupied at the time of sale. Mitch Sinberg and Scott Wadler of Berkadia originated a Freddie Mac acquisition loan on behalf of the Coral Gables, Fla.-based buyer. Terms of the loan were not disclosed. Robert Stickel, Tyler Averitt and Alex Brown of Cushman & Wakefield represented the seller, Varden Capital Properties and Tellus Partners, in the transaction.

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AcquisitionsConnecticutHealthcareNortheast

Pearce Commercial Arranges Sale of 3,398 SF Medical Office Building in West Haven, Connecticut

by Taylor Williams

WEST HAVEN, CONN. — Locally based brokerage firm Pearce Commercial has arranged the sale of a 3,398-square-foot medical office building in West Haven for an undisclosed price. Carl Russell of Pearce Commercial represented the buyer and future occupant, Internal Medicine of Greater New Haven, in the transaction. Jed Backus of Backus Real Estate LLC represented the seller.

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AcquisitionsOfficeTexas

Realty.com Acquires 400,000 SF Office Building in North Houston

by Taylor Williams

HOUSTON — Realty.com, a privately held brokerage firm based in Houston, has acquired a 400,000-square-foot office building located at 363 N. Sam Houston Parkway E. on the city’s north side. The 20-story, Class A property was built in 1982 and renovated between 2016 and 2019. Building amenities include a fitness center and a deli, and the new ownership plans to add a tenant lounge with an arcade and kitchen. The transaction marks Realty.com’s first major acquisition in its hometown market. Marty Hogan and Kevin McConn of JLL represented the seller, a California-based private investor, in the deal.

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AcquisitionsMultifamilyTexas

Oxford Enterprises Acquires 300-Unit Santa Clara Apartments in Metro Austin

by Taylor Williams

PFLUGERVILLE, TEXAS — Dallas-based Oxford Enterprises has acquired Santa Clara, a 300-unit apartment community located in the northern Austin suburb of Pflugerville. The property was built on 21.5 acres in 2019 and is situated within several miles of the hubs of major employers like Apple, Dell, Oracle, Hewlett-Packard and General Motors. Units feature one-, two- and three-bedroom floor plans with granite countertops, kitchen islands and private balconies and patios. Amenities include a pool, playground, fitness center, business center, movie theater and a dog park. Will Balthrope, Jordan Featherston, Drew Garza and Kent Myers of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller, Santa Clara LLC, in the transaction. The team also procured Oxford Enterprises as the buyer.

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AcquisitionsOfficeTexas

Hunington Properties Buys 16,500 SF Building for New Austin Office

by Taylor Williams

AUSTIN, TEXAS — Houston-based investment firm Hunington Properties has purchased a 16,500-square-foot building in the Westbank area of Austin for its new office. Hunington has hired local architecture firm JDAI Studio to redesign and remodel the space. Evan Dyer and Gigi Gomel will oversee the firm’s new Austin office, which is located at 1715 S. Capital of Texas Highway. Hunington is an active developer in the state capital. The firm’s projects include Shops at Steiner Ranch, Shops at Shadowglen, Shops at Riverplace, Shops at Volente and Shops at Boulder.

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AcquisitionsKansasMidwestRetail

PEBB Enterprises Sells Tires Plus-Occupied Retail Property in Overland Park for $2.2M

by Kristin Harlow

OVERLAND PARK, KAN. — PEBB Enterprises has sold a retail property leased to Tires Plus at its Pinnacle Village shopping center for $2.2 million. Four Corners Property Trust purchased the 7,740-square-foot building, which is located in the Kansas City suburb of Overland Park. Colliers International brokered the sale. PEBB acquired the 126,909-square-foot Pinnacle Village in May 2018. DSW and Michael’s are the anchor tenants.

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AcquisitionsIllinoisMidwestRetail

Adelphia Properties Brokers Sale of 8,125 SF Retail Building in Mount Prospect, Illinois

by Kristin Harlow

MOUNT PROSPECT, ILL. — Adelphia Properties has brokered the sale of an 8,125-square-foot retail building located at 263-301 E. Rand Road in Mount Prospect, approximately 23 miles northwest of Chicago. The sales price was undisclosed. The value-add property was 23 percent occupied at the time of sale. George Spirrison and Simeon Spirrison of Adelphia represented the seller, a Chicago-based private real estate investor. The buyer was also a Chicago-based private investor.

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AcquisitionsGeorgiaMultifamilySoutheast

Starwood REIT Acquires Multifamily Community in Metro Atlanta for $82M

by Alex Tostado

DECATUR, GA. — Starwood REIT has acquired The Baxter Decatur, a 290-unit multifamily community in Decatur, for $82 million. The property, which was formerly known as Solis Decatur, offers one-, two and three-bedroom floor plans. Communal amenities include a car charging station, fitness center, pool, sundeck, game room, bike storage and a pet washing area. The Baxter was 89 percent occupied at the time of sale. Additionally, the property features 20,000square feet of retail space on the ground floor leased to tenants such as Jason’s Deli, 100% Chiropractic, Club Pilates and F45. According to Terwilliger Pappas’ website, the Atlanta-based developer delivered the property in May 2019. The community is located at 1605 Church St., eight miles northeast of downtown Atlanta. The seller was not disclosed.

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AcquisitionsIndustrialSouth CarolinaSoutheast

Sealy Purchases 1.2 MSF Industrial Portfolio in Greenville from Blackstone

by Alex Tostado

GREENVILLE, S.C. — Sealy & Co. has acquired an eight-property industrial portfolio totaling 1.2 million square feet in Greenville. Blackstone sold the portfolio for an undisclosed amount. All eight buildings were fully leased to national and international companies at the time of sale. This is the first purchase in South Carolina for Dallas-based Sealy. Scott Sealy Jr., Jason Gandy and Christopher Martin of Sealy worked with Trey Barry of CBRE to acquire the assets.

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AcquisitionsMultifamilyNorth CarolinaSoutheast

Capstone Negotiates $37.2M Sale of Apartment Complex in Metro Charlotte

by Alex Tostado

GASTONIA, N.C. — Capstone Apartment Partners has negotiated the $37.2 million sale of Ashbrook Village, a 423-unit apartment complex in Gastonia. The property offers one- and two-bedroom floor plans averaging 754 square feet. Communal amenities include a saltwater pool, leasing office, clubhouse and two laundry facilities. The asset is situated at 2295 Pineview Lane, 20 miles west of downtown Charlotte. The community was 99.5 percent occupied at the time of sale. The seller, locally based Southwood Realty, developed the complex in 1985 and has owned and managed it since. Austin Green, Alex McDermott, Rhodes Marley and Brian Ford of Capstone represented the seller and procured the buyer, New York City-based Gindi Equities.

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