EDINA, MINN. — NAI Legacy has acquired the RH | Minneapolis – Gallery property in Edina for $25.5 million. In conjunction with the sale, Restoration Hardware leased back the property on a 20-year absolute net lease. Opened in September 2019, the store spans 58,000 square feet across three levels. A rooftop restaurant is housed on the third floor. A Delaware statutory trust controlled by NAI Legacy, and known as 6801 France DST, was used to acquire the asset. Edina-based Tradition Capital Bank provided mortgage financing. A Delaware statutory trust is an ownership model through a separate legal entity that allows co-investment among sponsors and investors.
SYLVANIA, OHIO — Reichle Klein Group has brokered the $1.1 million sale of an industrial building in Sylvania, which is located in northern Ohio near the Michigan border. The 3.8-acre property is situated at 3525 Silica Road. Lynette Reichle of Reichle Klein Group represented the buyer, Sylvania-based J-West LLC. The seller was undisclosed.
GARDENA, CALIF. — CenterPoint Properties has purchased a distribution facility located at 230 W. Rosecrans Ave. in Gardena. Todd Kirshner of Punch Studio sold the asset for an undisclosed price. Situated on 3.22 acres in the South Bay region of Los Angeles County, the last-mile, 60,115-square-foot property features higher-than-market-average trailer parking, eight dock-high positions and immediate access to California’s freeway system, as well as excess yard space and port proximity.
LONGMONT, COLO. — Nexus Commercial Realty has arranged the sale of a two-building multifamily portfolio located in Longmont. An undisclosed buyer acquired the portfolio for $2.4 million. Located at 710 Emery St. and 1637 Kimbark St., the properties offer a total of 20 units in a mix of four two-bedroom units and 16 one-bedroom units. The buyer plans to install a new roof on the Kimbark property, as well as renovate and improve all units in both buildings. Brandon Kaufman and Nik MacCarter of Nexus represented the undisclosed seller, while Sean Holaman, also of Nexus, represented the buyer in the deal.
FRISCO, TEXAS — Colliers International has arranged the sale of Tower at Frisco Square, a 174,147-square-foot office building situated on 3.2 acres at 5757 Main St. in Frisco. Video game developer Gearbox Software is the anchor tenant of the five-story building, which was constructed in 2015 and has an adjacent five-level parking garage with additional ground-floor office and retail space. Dallas-based Encore Enterprises sold the property to Missouri-based REIT Maxus Realty Trust for an undisclosed price. Creighton Stark and Chris Boyd of Colliers brokered the deal.
HOUSTON — Locally based investment firm TRECAP Management has purchased two warehouses totaling 31,750 square feet in Houston. The buildings are located at 12400 and 12402 Taylor Road and are fully leased to SRS Distribution Inc. Barrett Gibson and Jason Tangen of Colliers International represented the seller, H&B Development & Construction LP, as well as TRECAP Management in the transaction.
WASHINGTON, D.C. — JLL has arranged the $49 million sale of The Shaw, an eight-story, 69-unit multifamily community in Washington, D.C.’s Shaw neighborhood. The property offers studio to four-bedroom floor plans. Communal amenities include a virtual front desk, a rooftop terrace and package lockers. Delivered this year, the asset is located at 618 T St. NW, one mile northeast of downtown Washington, D.C. Walter Coker, Brian Crivella and Robert Jenkins of JLL represented the seller, Monument Realty, in the transaction. A joint venture between Shimizu Realty Development Inc. and Capital Security Advisors LLC acquired the property in an all-cash deal.
FORT MYERS, FLA. — IRA Capital has acquired Paramount Surgery Center, a 9,000-square-foot surgery center in Fort Myers. The property is located at 2565 Cleveland Ave., across the street from Lee Memorial Hospital. The asset was completed in 2012 and features three operating rooms, step-down recovery, a nurse station, consultation room and a reception area. John Krzyminski and Max Krzyminski of JLL represented the seller, 8250 Realty LLC, in the transaction.
SHELBYVILLE, IND. — Colliers International has brokered the sale of Shelby’s Crest in Shelbyville for $8.5 million. The 120-unit affordable housing property is situated about 30 miles southeast of Indianapolis. The Section 42 low-income housing community was fully occupied at the time of sale. Monthly rents start at $817. Kevin Morris, Christopher Rivera and Amy Burmeister of Colliers’ Affordable Housing Services Group represented the seller, Dominium Group Inc. The team also procured the buyer, Harmony Housing Advisors Inc.
LOS ANGELES — CIT Group and its Healthcare Finance unit has funded a $25 million loan supporting Seavest Healthcare Properties’ acquisition of the MLK Community Hospital Medical Office Building in South Los Angeles. Established in 2015, MLK Community Hospital is part of a public-private partnership with Los Angeles County created to meet the needs of the South Los Angeles community, including the uninsured and underinsured. The private, nonprofit hospital provides healthcare services for residents of the Watts, Compton and Willowbrook neighborhoods of Los Angeles.