Acquisitions

CREI Acquires Student Housing Community Near University of Alabama

by Alex Tostado December 5, 2019

TUSCALOOSA, ALA. — Capstone Real Estate Investments (CREI) has acquired Parker 301, a student housing community located near the University of Alabama in Tuscaloosa. The community has been rebranded The Preserve at Tuscaloosa and is set to undergo substantial renovations and repositioning within the market. Renovations will include updates to all units and the addition of one- and two-bedroom floor plans; updates to the community’s clubhouse; an expansion of the property’s business center to include private study rooms; the addition of a new dog park; and a refresh of the swimming pool area. A timeline for renovations and terms of the acquisition were undisclosed.

December 5, 2019

Acquisitions Hospitality Indiana Midwest

U.S. OCG Acquires 497-Room Marriott Hotel Portfolio in Indianapolis

by Kristin Harlow December 5, 2019

INDIANAPOLIS — U.S. OCG has acquired a 497-room, three-property Marriott hotel portfolio in Indianapolis for an undisclosed price. The hotels, located adjacent to each other, include a 315-room Marriott, a 119-room Delta and a 63-room Fairfield Inn & Suites. Together, they include more than 90,000 square feet of meeting space. Nate Sahn, James Foxx, Pravin Boteju and Stephen LaMotte Jr. of CBRE represented the seller, a joint venture between Shadeland Enterprises LLC and Midwest Investments Associates LLC.

December 5, 2019

Acquisitions Indiana Midwest Office

Colliers Brokers Sale of 138,636 SF Office Building in Fishers, Indiana

by Kristin Harlow December 5, 2019

FISHERS, IND. — Colliers International has brokered the sale of Crosspoint Plaza One, a four-story Class A office building located at 10475 Crosspoint Blvd. in Fishers. The sales price was $8.8 million, according to the Indianapolis Business Journal. The 138,636-square-foot property is situated in the northeast Indianapolis corridor with immediate access to I-69. Alex Cantu, Alex Davenport, Matt Langfeldt and Rich Forslund of Colliers represented the seller. Arkansas-based Tempus Realty Partners purchased the building, constructed in 1999. Crosspoint Plaza One originally served as a build-to-suit for Wiley Publishing, which recently vacated the property, leaving it 20 percent occupied. The new ownership plans to upgrade the building with modernized common areas, outdoor space and a first-floor conference center.

December 5, 2019

Acquisitions California Mixed-Use Multifamily Retail Western

IPA Negotiates Sale of Multifamily, Retail Mixed-Use Asset in Mountain View, California

by Amy Works December 5, 2019

MOUNTAIN VIEW, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of The Village Residences, a mixed-used complex located at San Antonio Road and El Camino Real in Mountain View. A venture between Carmel Partners and Merlone Geier Partners sold the asset for an undisclosed price. The name of the buyer was not released. Philip Saglimbeni, Stanford Jones, Bill Rose and Salvatore Saglimbeni of IPA represented the seller in the deal. Developed in 2013 and situated on 5.5 acres, The Village features 271,779 square feet of net rentable multifamily space spread across 330 apartment units and 43,206 square feet of retail space divided into 16 units. Apartments offer floor-to-ceiling windows, moveable kitchen islands and full-sized washers and dryers. On-site community amenities include an Atrium pool retreat with a fireside spa, canopied entertainment bar, grilling stations and lounge seating.

December 5, 2019

Acquisitions California Industrial Office Western

Hamra Properties Acquires 154,627 SF Anaheim Hills Business Center in California for $21.3M

by Amy Works December 5, 2019

ANAHEIM, CALIF. — Hamra Properties has purchased Anaheim Hills Business Center, an industrial and office business park located at 5100-5150 E. La Palma Ave. in Anaheim. Seligman Group sold the asset for $21.3 million. Jeffrey Cole, Jeff Chiate, Ed Hernandez, Mike Adey and Nico Napolitano of Cushman & Wakefield’s Irvine, Calif., office represented the seller, while Rick Ellison and Randy Ellison of Cushman & Wakefield served as market advisors. Built in 1988, the five-building campus features 154,627 square feet of industrial and office space. The property includes grade-level doors, landscaping with palm trees and abundant parking at a ratio of three stalls per 1,000 square feet. The buildings range in size from 19,000 square feet to 49,000 square feet, accommodating tenants as small as 700 square feet.

December 5, 2019

Acquisitions Colorado Industrial Western

NKF Arranges $15.5M Sale of Industrial Asset in Boulder, Colorado

by Amy Works December 5, 2019

BOULDER, COLO. — Newmark Knight Frank has brokered the sale of an industrial building located at 5360 Sterling Drive in Boulder. Alger Boulder I LLC acquired the property from Ivy 5360 Sterling Property LLC for $15.5 million. The property features 38,263 square feet of industrial space. John Jugl of Newmark Knight Frank Colorado represented the seller in the deal.

December 5, 2019

Acquisitions California Retail Western

Colliers Brokers $3.7M Sale of Multi-Tenant Retail Building in Oceanside

by Amy Works December 5, 2019

OCEANSIDE, CALIF. — Colliers International San Diego Region has arranged the sale of a retail asset located at 417-431 S. Coast Highway in Oceanside. Fullerton Square sold the property to an undisclosed buyer for $3.7 million. Bill Shrader and Luke Holler of Colliers represented the seller and buyer in the deal. At the time of sale, the 12,000-square-foot building was fully occupied by nine tenants with existing lease terms.

December 5, 2019

Acquisitions Connecticut Hospitality Northeast

Noble Investment Group Acquires 135-Room New Haven Hotel at Yale University

by Alex Patton December 5, 2019

NEW HAVEN, CT. — Noble Investment Group has acquired the 135-room New Haven Hotel at Yale University. Noble plans to reposition the hotel to capitalize on the area, which includes Yale University and the Yale-New Haven Hospital, the primary teaching hospital for the Yale School of Medicine and the Yale School of Nursing. The hotel features a business center and fitness center as well as 1,000 square feet of flexible meeting space. The sales price was undisclosed.

December 5, 2019

Acquisitions Industrial New Jersey Northeast

JLL Brokers Sale of 50,993 SF Industrial Building in North Brunswick, New Jersey

by Alex Patton December 5, 2019

NORTH BRUNSWICK, N.J. — JLL has brokered the sale of a 50,993-square-foot industrial building in North Brunswick, located approximately 30 miles southwest of New York City. Situated at 1200 Airport Road, the building was completed in 1987 and features 19-foot clear heights, seven exterior docks, three drive-in doors and parking for 86 cars. The building was fully leased to three tenants at the time of sale. Gary Politi and Joel Lubin of JLL represented the undisclosed seller in the transaction. The sales price was also undisclosed. The buyer was VK Industrial V LP, a partnership between Venture One Real Estate and Kovitz Investment Group.

December 5, 2019

Acquisitions Multifamily Texas

Olympus Property, RSE Capital Acquire 303-Unit Carrington Oaks Apartments in Buda, Texas

by Taylor Williams December 5, 2019

BUDA, TEXAS — A partnership between Fort Worth-based investment firm Olympus Property and RSE Capital Partners has acquired Carrington Oaks, a 303-unit apartment community located in the Central Texas city of Buda. Built in 2015, the property features one-, two- and three-bedroom units with stainless steel appliances, granite countertops, kitchen islands/breakfast bars and faux wood vinyl flooring. Amenities include a pool with cabanas, a fitness center with a spin room, resident clubhouse, game room, theater room, business center, outdoor grilling areas, a pet park and a playground. The seller was not disclosed.

December 5, 2019

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