DALLAS — Barvin, a privately held investment firm based in Houston, has sold Oak Lawn Apartments, a 137-unit multifamily community in the Oak Lawn neighborhood of Dallas. The property was built in 1970 and offers one- and two-bedroom units and amenities such as a pool, clubhouse and onsite laundry facilities. Barvin acquired the property in 2011 and implemented a value-add program. The buyer was not disclosed.
CHICAGO — Blueprint Healthcare Real Estate Advisors has arranged the portfolio sale of three assisted living communities totaling 132 units in East Texas. Two of the communities were vacant at the time of sale. The other was operational and 90 percent occupied. Dallas-based owner-operator WindRiver Cos. acquired the properties. The seller and price were not disclosed.
MILWAUKEE — An affiliate of fifteenfortyseven Critical Systems Realty LLC, in partnership with Harrison Street, has acquired Milwaukee’s historic Wells Building. The purchase price was $7.25 million, according to the Milwaukee Business Journal. The 15-story, 165,000-square-foot building is located at 324 E. Wisconsin Ave. and dates back to 1901. The property has a long history as a communications center and once served as the Milwaukee headquarters for Western Union Telegraph Co. Today, the building serves as a carrier hotel and data center. A carrier hotel is a building in a downtown location that houses networks and cloud services. The buyer plans to make significant investments in the building’s power and cooling infrastructure. Ascendant Holdings LLC, a Wisconsin-based commercial real estate development and investment company, was the seller.
FOX RIVER GROVE, ILL. — Baceline Investments has acquired Foxmoor Crossing in Fox River Grove, about 50 miles northwest of Chicago. The purchase price was undisclosed. The 22,408-square-foot shopping center is 84 percent leased to tenants such as Panera Bread, T-Mobile, Merle Norman Cosmetics and the UPS Store. Foxmoor Crossing marks the 72nd property in Baceline’s core income fund. The Denver-based company owns neighborhood shopping centers in 27 different metro areas across the country.
ALBERT LEA, MINN. — Upland Real Estate Group Inc. has brokered the $1.1 million sale of a two-tenant retail property in Albert Lea in southern Minnesota. Located on Bridge Avenue, the 7,000-square-foot, newly remodeled building is home to Verizon and Qdoba. It serves as an outparcel to Northbridge Mall. Keith Sturm, Deborah Vannelli and Amanda Leathers of Upland represented the seller. Pete Guidera and Tina Swanson of Coldwell Banker Realty represented the buyer. Neither the buyer nor the seller was disclosed.
VACAVILLE, CALIF. — JCM Partners has sold Camden Parc Apartments, a multifamily property located on Aegean Way in Vacaville. Camden Parc Residential LLC acquired the community from JCM for $58 million, or $250,000 per unit. Situated on 15 acres, Camden Parc Apartments features 232 apartments in a mix of one-, two- and three-bedroom layouts spread across 24 two-story buildings. JCM completed interior and exterior renovations to Camden Parc in 2019. Steven Nelson and Dusty Haeling of Marcus & Millichap represented the seller and procured the buyer in the deal.
FARMERS BRANCH, TEXAS — Excelsa Properties has acquired Aspen at Mercer Crossing, a 260-unit apartment community located in the northern Dallas metro of Farmers Branch. Built in 2019, the property features studio, one-, two- and three-bedroom units ranging in size from 663 to 1,423 square feet. Amenities include a pool, outdoor kitchen and gaming area, fitness center and a dog park. The seller was not disclosed.
HURST, TEXAS — Marcus & Millichap has arranged the sale of Arbor Park, a 78-unit multifamily complex in Hurst, located northeast of Fort Worth. According to Apartments.com, Arbor Park offers one- and two-bedroom units and amenities such as a pool and onsite laundry facilities. Al Silva and Ford Braly of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The duo also procured the buyer, a private investor
KENOSHA, WIS. — Marcus & Millichap has arranged the $2.8 million sale of a Value Inn hotel in Kenosha, about 35 miles south of Milwaukee. The 112-room property, built in 1988, will be converted into a Rodway Inn by Choice Hotels. Ebrahim Valliani, Michael Klar, Allan Miller and Chris Gomes of Marcus & Millichap secured and represented the buyer, a private investor. Seller information was not disclosed.
DEFOREST, WIS. — Lee & Associates has brokered the $1.1 million sale of a 16,000-square-foot industrial building in DeForest, just north of Madison. The property is located at 4159 Reardon Road. Blake George of Lee & Associates represented the seller, CHEEE Holdings LLC. The buyer, CAH CO DeForest LLC, will use the property as a vehicle maintenance facility for Hooper Corp.
