Acquisitions

Marcus & Millichap Brokers $13.3M Sale of Durango Town Center in Colorado

by Amy Works July 7, 2020

DURANGO, COLO. — Marcus & Millichap has arranged the sale of Durango Town Center, a retail shopping center located in Durango. A private partnership led by David Spriggs of Denver-based DMS Real Estate sold the asset to a private local investor for $13.3 million. Ryan Bowlby and Drew Isaac of Marcus & Millichap represented the seller, while Brian Hagger, also of Marcus & Millichap, represented the buyer. Phillip Gause of Marcus & Millichap Capital Corp. placed financing on behalf of the buyer. Located at 1125, 1145 and 1185 S. Camino Del Rio, Durango Town Center features 41,781 square feet of retail space.

July 7, 2020

ElderHealth-Living-Memory-Care-Springfield-OR

Acquisitions Multifamily Oregon Seniors Housing Western

SLIB Arranges Sale of 59-Unit Memory Care Community in Springfield, Oregon

by Amy Works July 7, 2020

SPRINGFIELD, ORE. — Senior Living Investment Brokerage has negotiated the sale of ElderHealth & Living Memory Care Village in Springfield. Built in 1988 and expanded in 1996, the memory care community features 95 beds across 59 units. The facility is approximately 30,215 square feet and is situated on approximately 5.1 acres of land. A regional operator with multiple West Coast communities acquired the property for an undisclosed price. The seller, a local owner-operator divesting its only seniors housing community, will stay on as a consultant. A local bank provided a balance-sheet loan for the acquisition. Jason Punzel, Brad Goodsell and Vince Viverito of Senior Living Investment Brokerage handled the transaction.

July 7, 2020

Vantage Data Centers Santa Clara Flagship

Acquisitions California Colorado Data Centers Development Top Stories Western

Vantage Data Centers, Colony Capital Agree to Form $3.5B Partnership to Grow Data Center Platform

by John Nelson July 7, 2020

DENVER AND LOS ANGELES — Data center developer and operator Vantage Data Centers has entered into a definitive agreement with an investor group led by Colony Capital Inc. (NYSE: CLNY) to form a $3.5 billion partnership that will expand Vantage’s data center platform in North America and Europe. The firms expect the agreement to be finalized toward the end of the month. As part of the agreement, the Colony-led investor group will invest $1.2 billion in Vantage’s portfolio, including 12 stabilized North American data centers that span more than 1.4 million gross square feet in Santa Clara, Calif.; Quincy, Wash.; Montreal; and Quebec City, Canada. Vantage’s management team, led by President and CEO Sureel Choksi, will continue to manage and operate these assets as part of its global data center footprint. The Colony-Vantage partnership will allow Vantage to develop and maintain top-performing data centers in new and existing markets. The Denver-based company has been expanding in Europe the past few months, entering Wales through its acquisition of data center campus Next Generation Data that was announced in April. Vantage also acquired data center provider Etix Everywhere in February. The deal included a data center under construction in Frankfurt, Germany. Vantage …

July 7, 2020

Acquisitions Life Sciences Massachusetts Northeast Office

BioMed, Cresset, Novaya Purchase 162,000 SF Office, Life Sciences Campus in Boston

by Taylor Williams July 6, 2020

BOSTON — BioMed Realty, an owner-operator of life sciences real estate, has entered into a partnership with Cresset Development and Boston-based Novaya Real Estate Ventures to acquire the XMBLY Campus at Assembly Square in the Somerville area of Boston. The campus spans 162,000 square feet of office and life sciences space and includes 7.5 acres for additional expansion. The new ownership plans to add lab, research and development and traditional office space. A timeline for construction has not yet been established.

July 6, 2020

Acquisitions Florida Multifamily Southeast

Radco Sells Multifamily Community in Tampa for $42.8M

by Alex Tostado July 6, 2020

TAMPA, FLA. — The Radco Cos. has sold Mabry Manor, a 372-unit multifamily community in Tampa, for $42.8 million. The property offers studio, one- and two-bedroom floor plans. Communal amenities include a pool, sundeck, fitness center, clubhouse, fishing lakes with floating deck and fishing pier, coffee bar, laundry facilities and a business center. Radco acquired the asset in 2016 for $20.1 million. The asset is located at 4902 N. Macdill Ave., five miles northwest of downtown Tampa in the Northwest Tampa submarket. TLR Group acquired the community. Jason Stanton and Cole Whitaker of Berkadia represented the seller in the transaction.

July 6, 2020

Acquisitions Florida Multifamily Seniors Housing Southeast

Fairstead Acquires Low-Income Seniors Housing Community in Boca Raton

by Alex Tostado July 6, 2020

BOCA RATON, FLA. — Fairstead has acquired Gould House, a 101-unit Section 8 seniors housing community in Boca Raton. The property is located on the Jewish Federation of South Palm Beach County Campus. While the seller and price were not disclosed, Fairstead did unveil plans for a $6 million rehabilitation of the entire complex. The project will include new kitchens, baths, lighting, HVAC, flooring and windows for all apartments, as well as common area improvements to the security systems, grounds, lobbies, community room and management office. Fairstead financed the acquisition through the issuance of federal Low-Income Housing Tax Credits (LIHTC) and tax-exempt bonds from the Housing Finance Authority of Palm Beach County. The Freddie Mac lender/bond purchaser in the transaction was Berkadia Commercial Mortgage LLC, and the LIHTC investor was Regions Affordable Housing LLC.

July 6, 2020

Acquisitions Office Texas

Brookfield Properties Acquires 95,440 SF Industrial Facility in West Dallas

by Taylor Williams July 6, 2020

DALLAS — New York City-based REIT Brookfield Properties has acquired a 95,440-square-foot industrial facility that is situated on a 15.2-acre site at 4444 Irving Blvd. in West Dallas. The property features a 57,000-square-foot terminal with 118 doors and ample car and trailer parking space. A national transportation company fully leases the asset, according to Brookfield. The seller was not disclosed.

July 6, 2020

Acquisitions Arizona Retail Western

NKF Arranges $5.8M Sale of Crossroads at Deer Valley Retail Center in Phoenix

by Amy Works July 6, 2020

PHOENIX — Newmark Knight Frank (NKF) has brokered the sale of Crossroads at Deer Valley Plaza, a shopping center located at 1838 W. Bell Road in Phoenix. An investment group led by Jeff Geyser sold the property to an undisclosed buyer for $5.8 million. The transaction includes the retail center and two billboards. Built in 2008 and remodeled in 2018, Crossroads at Deer Valley Plaza is fully occupied by a variety of tenants, including Eyeglass World, Wing Stop, L.A. Insurance, Royal Vapor, Cricket and DC Dental. Jesse Goldsmith, Steven Julius and Chase Dorsett of NKF represented the seller in the transaction. Jason Fessinger and Kalen Rickard of Western Retail Advisors represented the buyer.

July 6, 2020

Acquisitions Office Oregon Western

Norris & Stevens Brokers $1.4M Office Building Acquisition in Southeast Portland

by Amy Works July 6, 2020

PORTLAND, ORE. — Norris & Stevens has arranged the purchase of an office building located in Southeast Portland. Confederated Tribes of the Grande Ronde Community of Oregon acquired the property from Portland Limited Partnership for $1.4 million. Located at 3580 SE 82nd Ave., the building features 5,000 square feet of office space. Duane Link of Portland-based Norris & Stevens represented the buyer, while Mark Latimer of CBRE represented the seller in the deal.

July 6, 2020

Acquisitions Midwest Office Wisconsin

Founders 3 Brokers Sale of Two Wisconsin Office Buildings for $10.1M

by Kristin Harlow July 6, 2020

WEST ALLIS, WIS. — Founders 3 Real Estate Services has brokered the sale of Lincoln Center II and III in West Allis for a combined $10.1 million. The multi-tenant office buildings total 120,997 square feet. They are located at 2514 S. 102nd St. and 10150 W. National Ave. in suburban Milwaukee. The properties are home to 24 tenants, including Cognex, Verizon Wireless and Eye Care Specialists. Andy Hess, Ned Purtell and Patti Stevens of Founders 3 represented the seller, Lincoln Center Office Property Group LLC, which is an affiliate of SARA Investment Real Estate. J. Ross & Associates represented the buyer and is part of the ownership group.

July 6, 2020

Newer Posts

Older Posts