Acquisitions

Greysteel Arranges Sale of 264-Unit Affordable Housing Property in Dallas

by Taylor Williams March 8, 2019

DALLAS — Greysteel has arranged the sale of Meadows at Ferguson, a 264-unit affordable housing property in northeast Dallas. The garden-style community was built in 1983 and features one, two- and three-bedroom units averaging 723 square feet per unit. Communal amenities include two pools, a business center, picnic area, a playground and onsite laundry services. Doug Banerjee, Boyan Radic, Andrew Mueller, Daniel Hartnett and Scott Simon of Greysteel represented the seller in the transaction and arranged acquisition financing for the buyer. Both parties requested anonymity.

March 8, 2019

Acquisitions Multifamily Texas

Sterling Real Estate Acquires 230-Unit Apartment Community in San Antonio

by Taylor Williams March 8, 2019

SAN ANTONIO — Sterling Real Estate Partners, which has offices in Scottsdale and Los Angeles, has acquired Sierra Ridge Apartments, a 230-unit multifamily community in San Antonio. The property was built in 1981 and was 94 percent occupied at the time of sale. The new ownership plans to upgrade the property’s unit interiors and amenity spaces, which include a pool, resident clubhouse and an outdoor grilling area. The seller was not disclosed. Walker & Dunlop provided an undisclosed amount of acquisition financing for the deal.

March 8, 2019

Acquisitions Industrial Texas

Blue Road Investments Buys 80,000 SF Distribution Facility in El Paso

by Taylor Williams March 8, 2019

EL PASO, TEXAS — Blue Road Investments LLC, a newly formed industrial real estate firm based in Dallas, has purchased an 80,000-square-foot distribution facility located at 9494 Escobar Drive in El Paso. The property, which represents Blue Road’s first acquisition, was 100 percent leased at the time of sale to Siemens and Forward Air. Will Brown and Adin Brown, SIOR designees with El Paso-based Sonny Brown Associates LLC, brokered the transaction and will handle leasing and management of the facility. The seller was not disclosed.

March 8, 2019

Acquisitions Maryland Multifamily Southeast

Joint Venture Acquires Apartment Community in Metro D.C. for $42.6M

by Alex Tostado March 8, 2019

HYATTSVILLE, MD. — The Donaldson Group, Declaration Capital and Angelo Gordon & Co. have acquired Plaza Tower Apartments, a 288-unit apartment community in Hyattsville, for $42.6 million. Plans to upgrade the property include adding a new leasing center, as well as upgrading common areas, building exteriors and interior amenities. Work on the upgrades is expected to start in late spring. The property is situated at 6700 Belcrest Road, about one mile south of the University of Maryland and about eight miles northeast of downtown Washington, D.C.

March 8, 2019

Acquisitions Multifamily Southeast Virginia

Blackfin, GMF Capital Purchase 600-Unit Apartment Complex in Virginia Beach

by Alex Tostado March 8, 2019

VIRGINIA BEACH, VA. — Blackfin Real Estate Investors and GMF Capital LLC have purchased Baker Crossing, a 75-building, 600-unit apartment complex in Virginia Beach. Amenities at Baker Crossing include a clubhouse, swimming pool, sundeck, grilling area, fitness center, playground, basketball court and a racquetball court. As part of the transaction, the buyers assumed an agency loan originated by Newmark Knight Frank. The sales price and seller were not disclosed.

March 8, 2019

Acquisitions California Industrial Office Western

Embarcadero Capital Partners Acquires 108,500 SF Flex Asset in North San Jose

by Amy Works March 8, 2019

SAN JOSE, CALIF. — San Francisco-based Embarcadero Capital Partners has purchased 2125 O’Nel, an office/R&D building located in North San Jose. PSAI Realty Partners sold the 108,500-square-foot, value-add property for an undisclosed price. Built in 1984 and renovated in 2012, the two-story building is will configured for technology users needing to house multiple functions under one roof. The building is situated on 5.2 acres. Eric Fox, Steve Hermann, Adam Lasoff, Seth Siegel and Ryan Venezia of Cushman & Wakefield’s Northern California Capital Markets group represented the seller, while Erik Hallgrimson of the firm’s San Jose office, along with Craig Fordyce of Colliers International provided local market advisory.

March 8, 2019

Acquisitions California Industrial Office Western

SVP Management Buys Vacant Flex/R&D Building in Bay Area for $19M

by Amy Works March 8, 2019

SAN JOSE, CALIF. — SVP Management has purchased a vacant flex/R&D office building, located at 3775 N. First St. in San Jose. Chandler HFP, an affiliate of Los Angeles-based Held Properties Inc. sold the property for $19 million. Built in 1985, Honeywell occupied the single-story, 67,733-square-foot building from its acquisition in 2013 through December 2017. Originally, the property served as the world headquarters for RAE Systems Inc. Held Properties owned the property since 2014. Bob Bower and Chip Sutherland of CBRE Capital Markets-Investment Properties represented both parties in the transaction.

March 8, 2019

Acquisitions Multifamily Oregon Seniors Housing Western

SLIB Negotiates $8.5M Sale of Seniors Housing Community in Portland

by Amy Works March 8, 2019

PORTLAND, ORE. — Senior Living Investment Brokerage has arranged the sale of RN Villa Care Center, a 38-unit residential care facility in Portland. Residential care is a form of seniors housing that utilizes a smaller, more home-like atmosphere. The 22,165-square-foot community sits on a one-acre plot. A local operator sold the community to a Southern California-based private equity firm for $8.5 million, or $233,000 per unit. The seller plans to use the proceeds to invest in other real estate assets. The seller was seeking to expand its Pacific Northwest portfolio. Jason Punzel, Brad Goodsell and Vince Viverito of Senior Living Investment Brokerage handled the transaction.

March 8, 2019

Acquisitions Arizona Retail Western

SAFCO Capital Sells 25,000 SF Retail Property in Tucson, Arizona, for $2.5M

by Amy Works March 8, 2019

TUCSON, ARIZ. — SAFCO Capital has completed the disposition of a retail property, located at 3662-3692 S. 16th Ave. in Tucson. California-based CRE Strategic Investments acquired the asset for $2.5 million. At the time of sale, the 25,000-square-foot property was fully occupied by DaVita Dialysis and Desert Sports & Fitness. Craig Finfrock of Commercial Retail Advisors represented the seller, while the buyer was self-represented in the deal.

March 8, 2019

Acquisitions Office Southeast Tennessee

Cushman & Wakefield Arranges $71.9M Sale, Acquisition Loan for Office Tower in Downtown Nashville

by Alex Tostado March 7, 2019

NASHVILLE, TENN. — Cushman & Wakefield has arranged the $71.9 million sale of Philips Plaza, a 435,535-square-foot, 24-floor office building in downtown Nashville. The building, which was purchased by Wheelock Street Capital, is situated at 414 Union St. and was 97 percent leased to 26 tenants at the time of the sale. Since 2015, the property has undergone $3.5 million in renovations to include a new lobby, HVAC systems, roof, upgraded common areas and an upgraded conference center. The office building shares a plaza with a recently renovated DoubleTree by Hilton hotel. Stewart Calhoun, Samir Idris, Crews Johnston, David Meline and Hailey Paul of Cushman & Wakefield represented the undisclosed sellers in the transaction. Additionally, Michael Ryan, Brian Linnihan and Richard Henry of Cushman & Wakefield arranged acquisition financing on behalf of Wheelock Street Capital.

March 7, 2019

Newer Posts

Older Posts