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Acquisitions

AcquisitionsIllinoisMidwestMultifamily

Interra Realty Brokers $5.9M Sale of Multifamily Portfolio in Palatine, Illinois

by Kristin Harlow

PALATINE, ILL. — Interra Realty has brokered the sale of a five-building, 30-unit multifamily portfolio in Palatine for nearly $5.9 million. Paul Waterloo and Patrick Kennelly of Interra represented the private local buyer and confidential seller. The portfolio was fully occupied at the time of sale. The properties are part of the Turtle Creek Apartments Master Association. There are five one-bedroom units and 25 two-bedroom residences, all of which have been recently upgraded. The properties are subject to a monthly association fee that covers insurance, landscaping, snow removal and waste collection.

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AcquisitionsHealthcareMidwestOhio

Marcus & Millichap Brokers $9.9M Sale of Cincinnati Medical Office Building

by Kristin Harlow

CINCINNATI — Marcus & Millichap has brokered the $9.9 million sale of a 26,107-square-foot medical office building in Cincinnati. Constructed in 2008, the property at 8099 Cornell Road is fully leased to Ortho Alliance MSO LLC/Beacon Orthopedics & Sports Medicine Ltd. under a double-net lease with approximately five years remaining. Recent capital improvements include a new roof, HVAC and elevator upgrades, an MRI suite and a physical therapy facility. Frank Roti, Thomas Heitzman and Brett Rodgers of Marcus & Millichap, in association with Michael Glass, the firm’s Ohio broker of record, represented the seller, a private group of investors. The team also procured the buyer, a national REIT.

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Masons-Keepe
AcquisitionsMultifamilySoutheastVirginia

Berkadia Arranges $85M Sale of Multifamily Community in Manassas, Virginia

by Abby Cox

MANASSAS, VA. — Berkadia has arranged the sale of Masons Keepe, a 270-unit multifamily community located in Manassas, roughly 31 miles southwest of Washington, D.C. The sales price was not disclosed, but CoStar Group tracked the sales price as $85 million. Brian Crivella, Bill Gribbin, Yalda Ghamarian, Jack Canepa and Drew White of Berkadia’s Richmond office represented the seller, University Village Apartments LLC, in the transaction. Brad Williamson and Christopher Ellis, also with Berkadia, originated a five-year Freddie Mac acquisition loan on behalf of the buyer, Bridge Investment Group. The fixed-rate loan features a three-year interest-only period, 35-year amortization schedule and a 70 percent loan-to-value ratio. Built in 2004, Masons Keepe comprises 17 garden-style residential buildings with one- and two-bedroom apartments ranging in size from 759 to 1,322 square feet, according to Apartments.com. Amenities include a swimming pool, fitness center, playground, clubhouse, business center, tennis court, volleyball court, conference rooms and a grilling area.

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SW-Ranches-Concept
AcquisitionsDevelopmentFloridaIndustrialSoutheast

FRP Acquires 24 Acres in Broward County, Plans 300,000 SF Logistics Development  

by Abby Cox

SOUTHWEST RANCHES, FLA. — FRP Development Corp. has acquired 24 acres in Southwest Ranches, a town in South Florida’s Broward County. FRP plans to develop Logistics Center at Southwest Ranches, a planned 300,000-square-foot industrial facility, at the site. The project is expected to include 36-foot clear heights, dock-high loading, expansive truck courts, trailer parking and flexible configurations, and will be designed to serve logistics, manufacturing and regional distribution users. Completion of the development is anticipated for 2028. Further details of the timeline were not disclosed. Tenants at Logistics Center at Southwest Ranches will have nearby access to Port Everglades, Port Miami, Miami International Airport, Fort Lauderdale-Hollywood International Airport and the Florida East Coast Railway’s intermodal network.

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Harper's-Mill-Houston
AcquisitionsMultifamilyTexas

Berkadia Brokers Sale of 180-Unit Apartment Complex in Northwest Houston

by Taylor Williams

HOUSTON — Berkadia has brokered the sale of Harper’s Mill, a 180-unit apartment complex in northwest Houston. Built in 1984, the property offers one- and two-bedroom units and amenities such as a pool, business center, picnic areas and a playground. Kyle Whitney, Chris Curry, Jeffrey Skipworth, Chris Young, Joey Rippel, Jed Dalton and Tucker Fama of Berkadia represented the seller, Colorado-based investment firm InterUrban Cos., in the transaction. Brad Williamson, Mitch Sinberg, Scott Wadler, Matthew Robbins and Kyle Ryan, also with Berkadia, arranged an undisclosed amount of acquisition financing for the deal on behalf of the buyer, Miami-based 12ten Capital.

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Promenade
AcquisitionsFloridaRetailSoutheast

SRS Real Estate Brokers $7.9M Sale of Retail Strip Center in Wesley Chapel, Florida

by Abby Cox

WESLEY CHAPEL, FLA. — SRS Real Estate Partners has brokered the $7.9 million sale of Promenade, a three-tenant retail property located in Wesley Chapel, roughly 24 miles north of downtown Tampa. Built in 2025, the 9,222-square-foot property was fully leased at the time of sale to Heartland Dental, GoodVets and Ann’s Salon & Spa. William Wamble, Patrick Nutt and Connor Barton of SRS represented the seller, a Florida-based developer and investor, in the transaction. The all-cash buyer was a Florida-based investor.

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AcquisitionsMultifamilyTexas

MMG Real Estate Arranges Sale of 142-Unit Apartment Complex in Norman, Oklahoma

by Taylor Williams

NORMAN, OKLA. — Regional brokerage firm MMG Real Estate Advisors has arranged the sale of Sterling Park, a 142-unit apartment complex in Norman, home of the University of Oklahoma. The property offers one- and two-bedroom units and amenities such as a pool, fitness center and outdoor grilling and dining areas. Colton Howell, Stuart Krous and Thomas Skevington of MMG brokered the deal, which involved the assumption of the property’s existing loan. The buyer and seller were not disclosed.

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AcquisitionsArizonaIndustrialSelf-StorageWestern

Marcus & Millichap Brokers Sale of 364-Unit StorQuest Self Storage Facility in Mesa, Arizona

by Amy Works

MESA, ARIZ. — Marcus & Millichap has arranged the sale of a 364-unit StorQuest Self Storage facility in Mesa. Terms of the transaction were not released. Adam Schlosser, Charles “Chico” LeClaire, Dean Trammell and Kol Bailey of the LeClaire-Schlosser Group of Marcus & Millichap represented the undisclosed seller in the deal. Built in 1982 on 2.4 acres, StorQuest Self Storage features a fortress-style layout with stucco exteriors, metal roll-up doors and standing seam metal roofs. The property offers 39,225 net rentable square feet.

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AcquisitionsHealthcareNortheastPennsylvania

Berkadia Arranges Sale of 18,630 SF Ambulatory Surgery Center in Metro Philadelphia

by Taylor Williams

CHADDS FORD, PA. — Berkadia has arranged the sale of Restore Orthopaedic Surgical Institute, an 18,630-square-foot ambulatory surgery center in Chadds Ford, a western suburb of Philadelphia. The facility was built in 2022 and features two operating rooms in addition to spaces for pre- and post-operative consultations, physical therapy and related orthopedic support services. Eric Lee, Sabrina Solomiany, Chris Lashmet and Vasili Davos of Berkadia represented the seller, Tennessee-based Montecito Medical Real Estate, in the transaction. The buyer was Delaware-based Wasatch Capital.

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Katy-Prairie-Business-Park
AcquisitionsIndustrialTexas

National Property Holdings Unveils Plans for 1.1 MSF Industrial Park in Katy, Texas

by Taylor Williams

KATY, TEXAS — Regional developer National Property Holdings has unveiled plans for a roughly 1.1 million-square-foot industrial park in the western Houston suburb of Katy. Katy Prairie Business Park will be developed in two phases, each of which will comprise a single building that will be able to support manufacturing and logistics users. The Phase I building will total 402,480 square feet, and the Phase II building will total 680,940 square feet. Building features will include 36- and 40- foot clear heights, ESFR sprinkler systems, onsite trailer parking and “flexible” configurations. CBRE has been tapped as the leasing agent for Katy Prairie Business Park. A construction timeline was not announced.

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