LOS ANGELES COUNTY AND WEST SACRAMENTO, CALIF. — New York City-based Manatt represented Wells Fargo Bank in its $57.5 million sale of 11 Low-Income Housing Tax Credit (LIHTC) projects in Los Angeles County and West Sacramento. Anita Sabine, Alison Weinberg-Fahey, Carl Grumer, Neil Faden, Simone Gross and Ben Ryzak of Manatt handled the transaction.
HENDERSON, NEV. — Denver-based Continental Realty Advisors (CRA) has completed the disposition of Tesoro Ranch Apartments, a multifamily property in Henderson. CRA improved the property with upgrades to common areas and amenities, as well as a light renovation to most of the units. Constructed in 2007, Tesoro Ranch Apartments features 400 multifamily units and is adjacent to the $1.4 billion Union Village Integrated Health Village development along Boulder Highway in Henderson. CRA renovated the community’s clubhouse/leasing center, fitness center and pool area. Additional details of the transaction were not released.
DALLAS — JLL has negotiated the sale of Bristol Square, a 341-unit apartment community located at 1720 John West Road in east Dallas. The property offers one- and two-bedroom units with hardwood floors, walk-in closets, washers and dryers and balconies or patios. Amenities include a pool and onsite laundry facilities. Zar Haro, Moses Siller, Jorg Mast and David Fersing of JLL represented the seller, McGuire Family Properties, in the transaction. The buyer was Dallas-based WindMass Capital.
DALLAS AND ARLINGTON, TEXAS — Perimeter Healthcare, a behavioral healthcare company backed by Ridgemont Equity Partners, has acquired two 116-bed inpatient psychiatric hospitals located in the Dallas-Fort Worth (DFW) metroplex. The facilities will reopen in 2019 as Perimeter Behavioral Hospital of Dallas and Perimeter Behavioral Hospital of Arlington. This transaction marks Perimeter’s third acquisition in the past seven months. The seller was not disclosed.
INDIANAPOLIS — MCR has purchased two hotels in Indianapolis, including a 110-room Hampton Inn and a 78-room Residence Inn. Purchase prices and seller information were not disclosed. Both properties are less than 10 miles from the Indianapolis Motor Speedway. The hotels feature complimentary breakfasts, 24-hour fitness centers and pools.
MILFORD, OHIO — Marcus & Millichap has brokered the $5.6 million sale-leaseback of Melink Corp.’s global headquarters in Milford, about 15 miles northeast of Cincinnati. The office property spans 30,000 square feet. Alexander Nulf, David Peirce and Joseph DiSalvo of Marcus & Millichap marketed the property on behalf of Melink, the seller. Craig Fuller, Erin Patton, Josephine Zupan and Scott Wiles of Marcus & Millichap represented the buyer, a limited liability company. Melink is a provider of energy efficiency and renewable energy solutions for commercial buildings. The lease term is 15 years.
AKRON, OHIO — Echo Development Group Inc. has acquired a 5,645-square-foot medical building in Akron for an undisclosed price. Echo acquired the property in partnership with BrightView, an outpatient addiction practice based in Cincinnati. The partnership plans to convert the building into a behavioral health clinic, which is set to open this summer. Currently, BrightView operates eight clinics in various locations throughout Ohio.
GERMANTOWN, TENN. — Continental Realty Advisors (CRA) has sold The Preserve at Southwind Apartments, a 306-unit multifamily complex built in 2000 in Germantown, for $35.9 million. Denver-based CRA bought The Preserve in December 2014 and renovated the clubhouse, leasing center, fitness center and swimming pool area. The asset is situated one mile south of the FedEx Express World Headquarters and 21 miles southwest of downtown Memphis. Blake Pera of Newmark Knight Frank represented the seller in the transaction. The buyer was not disclosed.
SAVANNAH, GA. — Carter Multifamily has acquired Ascend at Savannah, a 159-unit community in Savannah, for $13.2 million. Ascend at Savannah was built in 1970 on 8.9 acres, seven miles south of downtown Savannah. Carter Multifamily plans to update unit interiors and communal areas including the swimming pool, clubhouse and recreational areas, as well as add a fenced-in pet park and dog spa, fitness center, internet café and outdoor gathering areas. The property offers one-, two- and three-bedroom floor plans ranging in size from 744 to 1,050 square feet. The seller was not disclosed.
ALPHARETTA, GA. — Newmark Knight Frank (NKF) has arranged the $10.8 million sale of an 88,000-square-foot office building in Alpharetta. The property, situated at 5925 Cabot Parkway 25 miles north of downtown Atlanta, was built in 1999 and renovated in 2007. The asset offers 48 private offices, about 130 work stations, 11 conference rooms, two lounge areas and a full-service catering kitchen. Jason Schrago and Frank Clementi of NKF represented the seller, JM Family Enterprises, in the transaction. Tom Kirbo of SK Commercial Realty represented the buyer, The Woodbury Group.