FORT WORTH AND ARLINGTON, TEXAS — Greysteel has arranged the portfolio sale of Ironwood Crossing and Rush Creek Apartments, two multifamily communities in the Dallas-Fort Worth (DFW) metroplex. Ironwood Crossing in Fort Worth totals 280 units, and Rush Creek in Arlington totals 248 units. Both properties were built in 2004 and feature amenities such as pools, fitness centers, business centers and playgrounds. Ari Firoozabadi, Doug Banerjee and John Marshall Doss of Greysteel represented the seller and procured the buyer, both of which requested anonymity.
BRIDGEWATER, N.J. — Cushman & Wakefield has brokered the sale of a 192,741-square-foot office building in Bridgewater. Located at 721 U.S. Highway 202/206, the four-story property is situated on nearly 16 acres. The property was vacant at the time of sale. Gary Gabriel, Andrew Merin, David Bernhaut, Brian Whitmer and Frank DiTommaso of Cushman & Wakefield’s New Jersey capital markets team represented the seller, Mack-Cali Realty Corp., in the transaction. The buyer was a local developer.
HOBOKEN, N.J. — HFF has arranged $10.8 million in acquisition financing for a 30-unit apartment property in Hoboken. Located at 204 Grand St., the six-story property was built in 2000 and consists of five one-bedroom and 25 two-bedroom units. The property was fully occupied at closing. Jamie Leachman, Drake Greer and Michael Klein of HFF secured a four-year, floating-rate loan for the borrower, Spirit Bascom Ventures, through lender Citizens Bank.
BELLEVILLE, N.J. — Marcus & Millichap has arranged the $1.6 million sale of an apartment building in Belleville. Located at 242 Mill St., the property consists of 15 units and 11 parking spaces. Kevin Taub of Marcus & Millichap’s New Jersey office represented the seller, a limited liability company, in the transaction. The buyer was also a limited liability company.
NASHVILLE, ILL. — Stan Johnson Co. has brokered the $15.5 million sale of a 276,887-square-foot manufacturing facility in Nashville, about 55 miles east of St. Louis. Grupo Antolin, an automotive parts supplier, has occupied the building for 30 years and recently completed an expansion and renovation. Mike Sladich and Mollie Alteri of Stan Johnson Co. represented the seller, Agracel Inc. Jason Powell and Colin Couch of Stan Johnson Co. represented the buyer, a Blufton, S.C.-based private investment group managed by David Strong and Nick Dzendzel.
MESA, ARIZ. — Santa Barbara, Calif.-based Pacifica Real Estate Group has acquired Pecos Gateway Business Park in Mesa from Mesa-based Boomerang Capital Partners for $14.6 million. Located at 8743 E. Pecos Road, the three-building, multi-tenant property features 125,896 square feet of industrial space. Built in 2008 and situated on 10.5 acres, the asset features 18-foot to 23-foot clear heights, 11 dock-high loading doors, 29 grade-level loading doors and suites ranging in size from 2,000 square feet to 17,500 square feet. At the time of sale, the property was 100 percent occupied. Bob Buckley, Tracy Cartledge and Steve Lindley of Cushman & Wakefield’s Phoenix office represented the seller in the deal.
COLORADO SPRINGS, COLO. — Marcus & Millichap has arranged the purchase of Eagleview Apartments, a multifamily property located at 1803 Prairie Road in Colorado Springs. A private local investor acquired the property for $8.7 million. Built in 1968, the 52,000-square-foot building features 65 two-bedroom/one-bath units, covered parking, a swimming pool, fitness center and on-site laundry. Brian Haggar of Marcus & Millichap represented the buyer, while Phillip Gause, also of Marcus & Millichap, secured acquisition financing for the buyer. The name of the seller was not released.
MILWAUKEE — Hammes Partners has sold a 23-property medical office portfolio across nine states for $400 million. The Class A properties, totaling 979,000 square feet, are located in Virginia, Washington, North Carolina, Illinois, New York, New Jersey, Pennsylvania, Alabama and Texas. Mindy Berman and Steve Leathers of JLL Healthcare Capital Markets brokered the sale on behalf of Milwaukee-based Hammes. Giant healthcare REIT Welltower Inc. (NYSE: WELL) was the buyer, according to media reports. “Selling points included the portfolio’s alignment with major health systems, durable income and locations in strong metro markets,” says Berman. Hammes Partners is a private equity platform that invests on behalf of institutional investors, with a focus on the U.S. healthcare real estate market. Toledo, Ohio-based Welltower is a real estate investment trust that mostly invests in healthcare and seniors housing properties. — Kristin Hiller
Rhode Island — Talonvest has arranged a $17.4 million acquisition loan for a self-storage portfolio in Rhode Island. The three properties consist of 1,416 storage units across 177,575 square feet. Erich Pryor, Jim Davies, Tom Sherlock, and Terra Hendrich of Talonvest represented the borrower, Rosewood Property Co. in the transaction. The lender was a national bank. Terms of the financing included a 10-year, fixed-rate loan with interest-only payments for the full loan term. The three metro Rhode Island properties expand Rosewood’s portfolio to 48 self-storage properties across 12 states.
PLEASANT PRAIRIE, WIS. — Doheny’s has entered into a sale-leaseback agreement with STAG Industrial Holdings LLC for a 195,415-square-foot property in Pleasant Prairie. STAG purchased the industrial building for $16 million. Doheny’s, a swimming pool supply company, signed a long-term lease with the new ownership. Sam Badger, Whit Heitman, Brad Weiner and Jared Paff of CBRE represented Doheny’s in the transaction. Doheny’s has eight distribution centers nationwide.