CHICAGO — Kiser Group has brokered the $10.9 million sale of a multifamily property located at 434 W. Wellington Ave. in Chicago’s Lakeview neighborhood. Lee Kiser, Andy Friedman, Jake Parker and Viktor Radzieta of Kiser represented the seller, TLC Management. The buyer, J&J Equities, plans to make property improvements. The asset was 98 percent occupied at the time of sale.
WEST MIAMI, FLA. — FCP has acquired District West Gables, a 427-unit midrise apartment community located at 2001 Ludlam Road in West Miami. The seller and sales price were not disclosed. Hampton Beebe of Newmark represented the seller in the transaction. Additionally, Matt Williams, Daniel Matz and Rob Wright of Newmark arranged an undisclosed amount of acquisition financing on behalf of FCP. District West Gables was constructed in two phases in 2015 and 2017. The property offers studio, one-, two- and three-bedroom residences, as well as structured parking. Amenities include two resort-style pools, dual fitness centers, EV charging stations, a movie theater, cabana-lined sundecks and resident lounges. FCP plans to modernize common areas and amenities at District West Gables and renovate unit interiors. The Chevy Chase, Md.-based company has also tapped Greystar as property manager.
CHARLOTTE, N.C. — CBRE has arranged the $110 million sale of SEVEN20 at Legacy Union, a 14-level parking facility located at 720 S. Church St. in Uptown Charlotte. Lincoln Harris sold the 1.1 million-square-foot property to Highwoods Properties. Patrick Gildea and Matt Smith of CBRE represented the seller in the transaction. Built in 2019 as part of the 10.2-acre Legacy Union mixed-use development, SEVEN20 at Legacy Union is the largest parking facility in the Carolinas, according to CBRE. The facility features a double-helix structure, two elevator towers, 3,057 parking stalls, 14,360 square feet of ground-level retail space and a pedestrian bridge on the fifth level that connects to Bank of America tower. The property is also equipped to accommodate guest parking for Carolinas Panthers games and other events taking place at the nearby Bank of America Stadium.
NAPLES, FLA. — Franklin Street has negotiated the sale of Wild Pines of Naples, a 200-unit apartment community located at 2580 Wild Pines Lane in Naples. The property was originally built in 1968 and expanded in 1986 and 2001. Wild Pines features market-rate apartments and income-restricted units that were developed with Low-Income Housing Tax Credits. Darron Kattan, Avery Jordan, Mark Savarese, Cary Brown and Eve Lowry of Franklin Street represented the buyer, Interface Properties, and the seller, JSB Capital, in the transaction. The sales price was not disclosed.
FREDERICKSBURG, VA. — Cushman & Wakefield | Thalhimer has brokered the $7.9 million sale of a 79,240-square-foot industrial facility located at 4701 Market St. in Fredericksburg, a city in Spotsylvania County that sits about 57 miles south of Washington, D.C. The buyer, Rappahannock Area Community Services Board, purchased the building from the previous owner and tenant, Rappahannock Goodwill Industries. Wilson Greenlaw and Berkley Mitchell of Cushman & Wakefield | Thalhimer represented the seller in the transaction. Rappahannock Area Community Services Board plans to relocate its headquarters to the facility.
LONGVIEW, TEXAS — Fort Worth-based owner-operator Trademark Property Co. and department store retailer Dillard’s have partnered to purchase Longview Mall in East Texas, with plans to undertake a repositioning. The Wall Street Journal reports that the sales price was $34 million. The mall originally opened in 1978 and welcomes some 3.7 visitors annually. In addition to Dillard’s, tenants at the property include Dick’s Sporting Goods, J.C. Penney, HomeGoods, Bath & Body Works, Foot Locker, H&M, Kay Jewelers, Auntie Anne’s, Chick-fil-A and Chuck E. Cheese. The name of the seller, as well as specifics of the repositioning plan, were not disclosed.
HOUSTON — Partners Capital, the investment arm of Partners Real Estate, has purchased the 162-room Homewood Suites by Hilton — Houston Galleria hotel. The extended-stay hotel was originally built in 2006 and had an average nightly occupancy rate of 84 percent at the time of sale. Following the 2026 World Cup, Partners Capital will commence a multi-million dollar renovation of the hotel that will include upgrades to guestrooms, public areas and the building exterior, as well as the modernization of several building systems. The seller and sales price were not disclosed.
KELLER, TEXAS — Locally based brokerage firm STRIVE has negotiated the sale of a 2,996-square-foot office building in Keller, located north of Fort Worth. The building is known as Keller Parkway Office and was fully leased at the time of sale. Parker Tims of STRIVE represented the undisclosed, locally based seller in the transaction. The buyer and sales price were also not disclosed.
NEW YORK CITY — Locally based REIT Vornado Realty Trust (NYSE: VNO) has entered into an agreement to purchase the office condo at 623 Fifth Avenue in Midtown Manhattan for $218 million. The 36-story, 382,000-square-foot building, which is situated above the flagship Saks Fifth Avenue department store, is currently 75 percent vacant. Vornado, which expects the deal to close in September, plans to implement a capital improvement program that is expected to be complete by early 2027. According to Crain’s New York Business, the seller was local developer Charles Cohen.
OAKDALE, N.Y. — Marcus & Millichap has brokered the sale of a 291-unit self-storage facility in Oakdale, located on Long Island. Oakdale Self Storage was built in 2005 and spans 27,320 net rentable square feet across 190 climate-controlled units, 86 non-climate-controlled units and 15 outdoor parking spaces. Andreas Makris and Kevin Bledsoe of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction. John Horowitz of Marcus & Millichap assisted in closing the deal as the broker of record. The facility was 88 percent occupied at the time of sale.
