REBusinessOnline

West Shore Acquires 315-Unit Broadstone Lake Walk Apartments in College Station

COLLEGE STATION, TEXAS — Boston-based investment firm West Shore LLC has acquired Broadstone Lake Walk, a 315-unit apartment community located about three miles from Texas A&M University in College Station. The property will be integrated into 8085 at Traditions community, a 657-unit adjacent property owned and operated by West Shore since 2018, to become Lake Walk at Traditions Apartments. The 972-unit community will offer one-, two- and three-bedroom units and amenities such as a four …

Acquisitions, Multifamily, Texas

Woodmont, EverWest Acquire 144,551 SF Industrial Facility in South Brunswick, New Jersey

SOUTH BRUNSWICK, N.J. — A partnership between Woodmont Industrial Properties and EverWest Real Estate Investors has acquired a 144,551-square-foot industrial facility in South Brunswick, located in between Trenton and Newark. The property offers proximity to the New Jersey Turnpike and State Route 130. Building features include 22-foot clear heights, 22 dock doors and 120-foot truck court depths. David Blitt of Bussel Realty represented the seller, which has leased back the space on a …

Acquisitions, Industrial, New Jersey, Northeast

CBRE Negotiates Sale of 136,531 SF Office Complex in Wilton, Connecticut

WILTON, CONN. — CBRE has negotiated the sale of a 136,531-square-foot office complex located at 187 Danbury Road in the southern Connecticut city of Wilton. The two-building complex was 47 percent leased at the time of sale and fetched a price of $10.7 million. A CBRE team of Jeffrey Dunne, Steven Bardsley, David Gavin, Jeremy Neuer, Gene Pride and Stuart MacKenzie represented the seller, an entity managed by Davis Marcus Partners, in the transaction. The team also procured the buyer, a group …

Acquisitions, Connecticut, Northeast, Office

Standard Communities Buys 156-Unit Affordable Housing Property Near Boston

WESTWOOD, MASS. — Standard Communities, a division of Los Angeles- and New York-based Standard Cos., has acquired Westwood Glen Commons, a 156-unit affordable housing property for residents age 55 and above that is located on the southern fringe of Boston. The community was built on 13.5 acres in 1972. According to Apartments.com, Westwood Glen Commons offers one- and two-bedroom units and amenities such as grilling stations, a clubhouse and onsite laundry

Acquisitions, Massachusetts, Multifamily, Northeast

NorthMarq Negotiates $167M Sale of Four-Property Multifamily Portfolio in Virginia

RICHMOND, VA. — NorthMarq’s Richmond office has negotiated the $167 million sale of the Waverton Virginia Portfolio, a four-property multifamily portfolio in Richmond, Newport News and Norfolk. Mike Marshall, Wink Ewing, Keith Wells and Ryan Rilee of NorthMarq represented both the seller, Portsmouth, Va.-based Waverton Associates Inc., and the buyer, an undisclosed regional investor, in the transaction.The portfolio includes Meridian Watermark, a 300-unit property in Richmond. The …

Acquisitions, Multifamily, Southeast, Virginia

JLL Brokers $115M Sale of BB&T Center Office Tower in Uptown Charlotte

CHARLOTTE, N.C. — JLL has brokered the sale of BB&T Center, a 22-story, 568,646-square-foot office tower in Uptown Charlotte. The sales price was not disclosed, although the Charlotte Business Journal reported the asset sold for $115 million. The seller, Arden Group, acquired the asset in 2017 and completed a $10.5 million renovation that included adding a 5,200-square-foot amenity center, tenant lounge and a 1,800-square-foot outdoor deck. Additional improvements included a new lobby and …

Acquisitions, North Carolina, Office, Southeast

Ready Capital Closes $12M Acquisition Loan for Fractured Condominium Property in Metro Tampa

TOWN N’ COUNTRY, FLA. — Ready Capital has closed a $12 million acquisition loan for a 176-unit fractured condominium community in Town N’ Country. The undisclosed borrower will use the funds to acquire 110 units and buy out the remaining units, as well as renovate and de-convert the property into a market-rate multifamily property. Capital improvements include upgrading countertops, appliances and lighting, in addition to upgrading the roof, landscaping, amenities and exterior paint. …

Acquisitions, Florida, Loans, Multifamily, Southeast

M2G, Pennybacker Buy 1.2 MSF Former Tuesday Morning Distribution Center, Corporate Office in Metro Dallas

FARMERS BRANCH, TEXAS — A partnership between North Texas-based M2G Ventures and Austin-based private equity firm Pennybacker Capital has purchased the 1.2 million-square-foot former distribution center of Tuesday Morning. The sale also included Tuesday Morning’s 105,000-square-foot headquarters office located at 6250 LBJ Freeway. The five-building industrial complex is situated on 46.7 acres in the northern Dallas metro of Farmers Branch. The Dallas-based retailer, which filed for Chapter …

Acquisitions, Company News, Industrial, Office, Texas

Cawley Partners, Staubach Capital Acquire 475,000 SF Sabre Global Corporate Offices in Southlake

SOUTHLAKE, TEXAS — Locally based office development and investment firm Cawley Partners, in partnership with Staubach Capital, has acquired the 475,000-square-foot corporate offices of software and technology firm Sabre Global in the Fort Worth suburb of Southlake. The tenant has signed a 12-year lease to occupy all 265,000 square feet of Building A and entered into a short-term lease for the 210,000-square-foot Building B. The new ownership plans to fully renovate Building B and add a full …

Acquisitions, Office, Texas

Garrett Cos. Sells Multifamily Property in Centennial, Colorado to Sunroad Enterprises for $47.8M

CENTENNIAL, COLO. — The Garrett Cos. has completed the disposition of The Mezz at Fiddlers Green, an apartment community located 6440 S. Syracuse Way in Centennial. Sunroad Enterprises purchased the newly constructed property for $47.8 million.Dan Woodward, David Potarf and Matt Barnett of CBRE Capital Markets in Denver represented the seller, while Rocco Mandala of CBRE’s Phoenix office secured financing for the buyer.Situated on 3.5 acres within the Denver Tech Center, The Mezz at …

Acquisitions, Colorado, Multifamily, Western
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