Acquisitions

Rock Apartment Advisors Arranges $14.9M Sale of Multifamily Complex in Florida Panhandle

by Alex Tostado May 29, 2019

CRESTVIEW, FLA. — Rock Apartment Advisors has arranged the $14.9 million sale of Pinnacle Pointe Apartments, a 150-unit multifamily complex in Crestview. The three-story, garden-style apartment development was built in 2010 and offers one-, two- and three-bedroom floor plans. Community amenities include a swimming pool, clubhouse, fitness center, outdoor grilling stations, garage, storage units and a dog park. Boston-based Stratford Management Co. acquired the property. Donald Gambril of Rock Apartment Advisors represented the undisclosed seller in the transaction.

May 29, 2019

Acquisitions Multifamily Southeast Virginia

Colliers Brokers $9M Sale of Apartment Complex in Charlottesville

by Alex Tostado May 29, 2019

CHARLOTTESVILLE, VA. — Colliers International has arranged the $9 million sale of Carrollton Terrace Apartments, a 24-unit multifamily property in Charlottesville. The community offers two-, three- and four-bedroom floor plans, was built in 2005 and is situated one mile from the University of Virginia off Jefferson Park Avenue. Charles Wentworth, Hank Hankins, Rawles Wilcox, Victoria Pickett, Clay Ellis and Will Mathews of Colliers represented the seller, BRJ Virginia LLC, in the transaction. Carrollton Terrace LLC, an affiliate of Flag Holding LLC, purchased the property.

May 29, 2019

Acquisitions Industrial Texas

Finial Group, TriGate Capital Buy 227,709 SF Industrial Property in Dallas

by Taylor Williams May 28, 2019

DALLAS — A partnership between Houston-based Finial Group and Dallas-based TriGate Capital LLC has acquired Westwood Business Park, a 227,709-square-foot industrial property in Dallas. The development spans 12 buildings and offers proximity to Interstates 35 and 635. Finial Group, which will handle leasing and management of Westwood Business Park, recently acquired another industrial property in the DFW metroplex and is actively seeking additional investment opportunities in the region. The seller and sales price were not disclosed.

May 28, 2019

Acquisitions Multifamily Texas

Limited Liability Company Acquires 254-Unit Apartment Community in Kyle, Texas

by Taylor Williams May 28, 2019

KYLE, TEXAS — SPI Oaks 254 LLC has acquired Oaks on Marketplace, a 254-unit multifamily community located in the Central Texas city of Kyle. The property features one-, two- and three-bedroom units with hardwood-style floors, private patios or balconies and individual washer and dryer connections. Amenities include a pool, fitness center, media room and outdoor kitchen. Dougherty Mortgage arranged an undisclosed amount of acquisition financing for the deal. That loan carried a 10-year term and a 30-year amortization schedule. The seller and sales price were not disclosed.

May 28, 2019

Acquisitions Multifamily North Carolina Southeast

FCP, High Real Estate Sell Apartment Community in Charlotte for $31.7M

by Alex Tostado May 28, 2019

CHARLOTTE, N.C. — FCP and High Real Estate Group have sold York Ridge, a 240-unit apartment community in Charlotte. New York-based White Eagle Property Group bought the property for $31.7 million. York Ridge is situated in southwest Charlotte and offers one-, two- and three-bedroom floor plans. Communal amenities include a car care center, fitness center, swimming pool, playground, tennis court, clubhouse and grilling areas. Marc Robinson, Jordan McCarley and Brooks Colquitt of Cushman & Wakefield represented the sellers in the transaction.

May 28, 2019

Acquisitions Illinois Industrial Lee & Associates Midwest Office

Lee & Associates Negotiates Sales of Office, Industrial Buildings in St. Charles, Illinois

by Kristin Harlow May 28, 2019

ST. CHARLES, ILL. — Lee & Associates has negotiated the sale of two buildings in St. Charles for undisclosed prices. The first was a 5,100-square-foot office building located on School Road. Jay Farnam of Lee & Associates represented the buyer, AMI Group Inc. The second transaction was the sale of a 13,250-square-foot industrial building located at 2541 DuKane Drive. Mike Androwich Jr. of Lee & Associates represented the buyer, El Milagro.

May 28, 2019

Acquisitions Illinois Midwest Restaurant Retail

SVN Brokers $1.1M Sale of Restaurant Property in Algonquin, Illinois

by Kristin Harlow May 28, 2019

ALGONQUIN, ILL. — SVN | Chicago Commercial has brokered the sale of a 7,549-square-foot restaurant property in Algonquin for $1.1 million. The freestanding building is located at 2561 County Line Road. Tim Rasmussen and Olivia Czyzynski of SVN brokered the transaction. The buyer, an operator of Mexican restaurants, plans to open a casual Mexican concept, according to Rasmussen.

May 28, 2019

Acquisitions Illinois Midwest Multifamily

Marcus & Millichap Arranges $1.1M Sale of Chicago Apartment Buildings

by Kristin Harlow May 28, 2019

CHICAGO — Marcus & Millichap has arranged the $1.1 million sale of two apartment buildings spanning 25 units in Chicago’s Chatham neighborhood. The buildings are located at 700 E. 81st St. and 8055 S. Langley Ave. James Ziegler and KJ Zelenika of Marcus & Millichap marketed the properties on behalf of the seller. The pair also represented the buyer.

May 28, 2019

Acquisitions California Multifamily Western

Colliers Negotiates $46M Sale of The Gershwin Apartments in Hollywood

by Amy Works May 28, 2019

LOS ANGELES — Colliers International has facilitated the sale of The Gershwin Apartments, a landmark mixed-use property located at 5533 Hollywood Blvd. in Los Angeles’ Hollywood neighborhood. A local development, management and investment firm acquired the property for $46 million in an all-cash transaction. Kitty Wallace of Colliers represented the buyer and seller, a private real estate investment company, in the deal. Built during the 1920s and originally known as the St. Francis Hotel, the five-story building was renovated over the years and transformed into a mixed-use asset with 163 residential units, nine neighboring bungalows, a 17,000-square-foot surface parking lot and 10,565 square feet of ground-floor retail space. The apartments feature a mix of layouts from micro lofts with kitchenettes to two-bedroom bungalows with private yards. A total of 119 of the units have been completely renovated.

May 28, 2019

Acquisitions Multifamily Washington Western

Pathfinder Partners Acquires 132-Unit Creekside Village Apartments in Washington for $29M

by Amy Works May 28, 2019

VANCOUVER, WASH. — San Diego-based Pathfinder Partners has purchased Creekside Village Apartments, a 132-unit multifamily property located in Vancouver. An affiliate of ConAm Group sold the asset for $29 million. Situated on 12 acres at 3100 Falk Road, Creekside Village consists of 15 two-story residential townhome buildings, four three-story residential buildings and a one-story building that houses the clubhouse, leasing office and fitness center. Constructed in 1992, the property features 48 two-bedroom/two-bath units, 12 two-bedroom/two-and-one-half bath townhome units and 72 three-bedroom/two-and-one-half bath townhome units averaging 1,293 square feet. The property also features covered parking, hot tub, swimming pool, direct access garages in 84 townhomes units and a children’s playground. Pathfinder Partners plans various upgrades and improvements for the asset. Brian Eisendraft and Cameron Chalfant of CBRE Capital Markets arranged financing for the acquisition.

May 28, 2019

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