PFLUGERVILLE, TEXAS — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Heatherwilde Assisted Living, located in the Austin suburb of Pflugerville. A local partnership looking to exit the seniors housing industry sold the property to a Fort Worth-based owner-operator for an undisclosed price. Heatherwilde features 40 units on a 2.6-acre lot. The community is situated adjacent to Pflugerville Health Care Center and Pflugerville Middle School. Matthew Alley of SLIB arranged the sale as a value-add opportunity for the buyer.
HENDERSON, NEV. — MAXX Properties has purchased Villas at Green Valley, a multifamily property located in Henderson, for an undisclosed price. The name of the seller was not released. Developed in 1984 and 1986, Villas at Green Valley features 609 apartments spread across 38 buildings. The community offers one-, two- and three-bedroom floor plans with an average unit size of 781 square feet. Community amenities include two swimming pools, a spa, fitness center, playground, sports court, two dog parks, picnic pavilions with barbecue grills, parcel lockers, business center and resident lounge with game room. MAXX plans to complete a modernization program at the property, including improvements to the clubhouse, all common areas and unit interiors. The acquisition was partially capitalized through the sale of Cedar Run Apartments in Denver. Additionally, MAXX entered into a long-term, fixed-rate mortgage loan with Fannie Mae. KeyBank served as the originator and placement agent for the transaction.
MOUNTLAKE TERRACE, WASH. — A partnership between Security Properties and Rockwood Capital has acquired Taluswood, a multifamily property located in Mountlake Terrace. Neither the acquisition price nor the seller’s name were released. Originally built in 1987 and situated on 41 acres, the asset features 512 apartment units. The buyer plans to renovate the unit interiors, update the common areas and paint the exteriors. Security Properties Residential, an affiliate of Security Properties, will manage the community.
PORTLAND, ORE. — San Diego-based Pathfinder Partners has completed the disposition of Sienna Lofts, a multifamily property located in Portland’s Gresham neighborhood. San Diego-based Street Properties LLC and Street Properties Inc. acquired the asset for $14 million. Located at 22744 S.E. Stark St., Sienna Lofts features eight studio units, 63 one-bedroom units and four two-bedroom units, with an average unit size of 747 square feet. The apartments feature stainless steel appliances, modern-style laminate countertops, glass mosaic backsplash, upgraded plumbing and electrical fixtures, in-unit washers/dryers and new flooring. The property was built in 2004 as a for-sale condominium community. However, since Pathfinder’s acquisition in 2016, the property has been operated as a rental community.
FAIRFIELD, CALIF. — Capital Rivers Commercial has brokered the sale of Oakmont Plaza, a shopping center in Fairfield. San Diego-based The Niki Group acquired the property from a Fairfield-based private investor for $11.2 million. FoodMaxx anchors the 105,000-square-foot retail center, which also includes a freestanding Chase Bank and O’Reilly Auto Parts in addition to 35,000 square feet of in-line space. Additional tenants include Mountain Mikes Pizza and Check to Cash. Greg Aguirre and Frank Kozlowski of Capital Rivers Commercial represented the seller, while Brandon Norton of John Cumbelich & Associates represented the buyer in the deal.
CHEYENNE, WY. — Pinnacle Real Estate Advisors has arranged the sale of an apartment building, located at 4700 Mountain Road in Cheyenne. Mountain Elk Ridge sold the property to an undisclosed buyer for $7.5 million. The apartment building features 112 residential units. Jeff Johnson and Andrew Monette of Pinnacle Real Estate Advisors represented the seller in the transaction.
DALLAS — HFF has negotiated the sale of several office and retail buildings totaling 421,617 square feet within Victory Park, a 75-acre mixed-use development in Dallas. Ryan Shore, Barry Brown and Chris Gerard of HFF represented the seller, Orlando-based investment firm Estein USA. Charlotte-based Asana Partners purchased the properties for an undisclosed price in an off-market transaction. The Victory Park area, located where Uptown and downtown Dallas converge, houses approximately 3,500 apartments, 1.5 million square feet of office space, the W Dallas Hotel and American Airlines Center, home of the Dallas Mavericks and Stars.
AUSTIN, TEXAS — Marcus & Millichap has arranged the sale of a 4,885-square-foot commercial property net-leased to QuikTrip in Austin. Anthony Pucciarello and Vincent Knipp of Marcus & Millichap had the exclusive listing to market the property on a sale-leaseback basis. Derrick Dougherty, also with Marcus & Millichap, represented the buyer, which acquired the property via a 1031 exchange.
CINCINNATI — Viking Partners Fund IV LLC, in conjunction with a fund managed by DRA Advisors LLC, has acquired Towers of Kenwood in Cincinnati. Ajoint venture of Hines and a subsidiary of a real estate fund managed by Oaktree Capital Management LP sold the office property for$80.6 million, according to the Cincinnati Business Courier. Towers of Kenwood is a 404,425-square-foot, seven-story office building located at the intersection of I-71 and Montgomery Road. The property was 97 percent leased at the time of acquisition. Tenants include iHeart Media, Sibcy Cline, UBS Financial Services and JPMorgan Chase Bank. Viking and DRA plan to make some capital improvements to the asset, including upgrades to the restrooms, corridors and lobbies.
URBANA, ILL. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of the Champaign County Nursing Home in Urbana for $11 million. The skilled nursing facility includes 243 beds. Joshua Jandris, Mark Myers and Matthew Andriano of IPA represented the seller, Champaign County. The team also procured the buyer, University Rehab Real Estate LLC.