Acquisitions

Carter Multifamily Acquires Apartment Complex in Tallahassee for $41.8M

by Alex Tostado January 22, 2019

TALLAHASSEE, FLA. — Carter Multifamily has acquired Polos on Park, a 440-unit apartment community in Tallahassee, for $41.8 million. Built in 1999, the complex is situated at 2626 E. Park Ave., about four miles east of downtown Tallahassee. The property comprises 21 two- and three-story residential buildings, nine garage structures and an amenity building. Carter Multifamily is planning a series of renovations and will rebrand the community as 2626 Park. Planned renovations include updating residential interiors, the pool, clubhouse and recreational areas. The company also plans to add a dog park, fitness center and outdoor gathering areas. The seller was not disclosed.

January 22, 2019

Acquisitions Florida Industrial Southeast

Geneva Group, Genet Property Purchase Industrial Park in Tampa

by Alex Tostado January 22, 2019

TAMPA, FLA. — Geneva Group and Genet Property Group have purchased Executive Industrial Park, a seven-building campus on 15 acres in Tampa’s Westshore industrial submarket. The 201,620-square-foot property was 94 percent leased at the time of the sale and is situated about six miles from Tampa International Airport. Rick Brugge, Mike Davis and Michael Lerner of Cushman & Wakefield represented the undisclosed seller in the transaction. The sales price was not disclosed.

January 22, 2019

Westmount-at-the-Colonnade-Grand-Prairie-Texas

Acquisitions Multifamily Texas

Westmount Realty Capital Sells 192-Unit Apartment Community in Metro Dallas

by Taylor Williams January 22, 2019

GRAND PRAIRIE, TEXAS — Dallas-based Westmount Realty Capital has sold Westmount at the Colonnade, a 192-unit multifamily community in Grand Prairie, roughly midway between Dallas and Fort Worth. Built in 2001, the Class A property features one-, two- and three-bedroom units ranging in size from 772 to 1,258 square feet. Amenities include a pool, media and business center and a fitness center. Westmount acquired the property in 2015 and implemented $1.4 million in capital improvements. The buyer was not disclosed.

January 22, 2019

Acquisitions Georgia Multifamily Southeast Student Housing

Zargo Invest Acquires Student Housing Community Near University of Georgia for $8.4M

by Alex Tostado January 22, 2019

ATHENS, GA. — Zargo Invest has acquired Farmer’s Exchange, a 121-bed student housing community located near the University of Georgia campus in Athens, for $8.4 million. The name of the seller was undisclosed. Zargo plans to invest $1 million in renovations, including interior and exterior painting, installation of smart security systems in units, a new business center and lounge and new security cameras. CollegeTown Properties has been tapped to manage the community. A renovation timeline has yet to be announced.

January 22, 2019

Acquisitions Kentucky Retail Southeast

SRS Arranges $3.5M Sale of Retail Center in Suburban Louisville

by Alex Tostado January 22, 2019

CRESTWOOD, KY. — SRS Real Estate Partners has arranged the $3.5 million sale of Crestwood Crossing, a 19,129-square-foot retail center in Crestwood, about 19 miles west of Louisville. Matthew Mousavi, Patrick Luther and Chris Edwards of SRS represented the seller, a local developer, in the transaction. The property was 94 percent leased at the time of the sale to a mix of fitness, dental, service-oriented and restaurant tenants. The Ohio-based buyer bought the center that was built in 2007.

January 22, 2019

Acquisitions Retail Texas

JLL Negotiates Sale of 63,124 SF Retail Property Leased to Albertsons in Arlington

by Taylor Williams January 22, 2019

ARLINGTON, TEXAS — JLL has negotiated the sale of a 63,124-square-foot retail property leased to Albertsons and located at 6620 Highway 287 Frontage Road in Arlington. The sale includes the 6.4 acres on which the single-tenant property is situated. Matthew Berres and Caroline Binning of JLL marketed the property on behalf of the undisclosed seller. The buyer was also undisclosed.

January 22, 2019

Acquisitions California Industrial Western

Dermody Properties Acquires 265,500 SF Logistics Building in Inland Empire

by Amy Works January 22, 2019

FONTANA, CALIF. — Dermody Properties has purchased a logistics building, located at 14605 Miller Ave. in Fontana, for an undisclosed price. Situated two miles east of Interstate 15, the 265,500-square-foot property is located 10 minutes from Southern California’s Ontario International Airport. Dermody Properties plans to implement an improvement program at the property in the first quarter of 2019. Renovations will include upgrading the fire system to ESFR, making aesthetic changes and dividing the building into two spaces, although the property will be available to either a one- or two-tenant scenario. Ryan Athens and Hunter McDonald of CBRE represented the undisclosed seller in deal. Frank Geraci, Juan Gutierrez and Adam Geiger of Voit Real Estate Services will market the space for Dermody Properties.

January 22, 2019

Acquisitions California Multifamily Seniors Housing Washington Western

HFF Arranges Sale of Three Aegis Seniors Housing Communities on West Coast

by Amy Works January 22, 2019

BELLEVUE AND KIRKLAND, WASH., AND APTOS, CALIF. — HFF has arranged both the sale of and acquisition financing for three Class A seniors housing communities totaling 253 units on the West Coast. The sale structure essentially added a joint-venture partner, with Áegis Living as the seller and a venture between Blue Moon Capital Partners and Áegis affiliates as the buyer. The price was not disclosed. The portfolio offers a blend of assisted living and memory care units and has a combined average occupancy of nearly 95 percent. The two Seattle-area properties in the portfolio are Áegis of Bellevue in Bellevue, which consists of 68 assisted living and 18 memory care units, and Áegis Lodge of Kirkland in Kirkland, which consists of 70 assisted living and 17 memory care units. The Northern California property, Áegis of Aptos, is located in Aptos, an oceanside community approximately eight miles east of Santa Cruz and less than 40 miles south San Jose. The HFF investment advisory team representing the seller included David Fasano, Ryan Maconachy, Chad Lavender, Ross Sanders, Mark Wintner and Christopher Ross. HFF’s debt placement team representing the borrower was led by director Sarah Anderson.

January 22, 2019

Acquisitions California Multifamily Western

Levin Johnston Brokers $17.3M Sale of Lakewood Court Apartments in San Jose

by Amy Works January 22, 2019

SAN JOSE, CALIF. — Levin Johnston of Marcus & Millichap has arranged the sale of Lakewood Court Apartments, a multifamily property located at 1953 Via Reggio Court in downtown San Jose. Sridhar Equities acquired the property from a private family for $17.3 million. Built in 1988 and situated on 1.6 acres, Lakewood Court Apartments features 48 units in a mix of one- and two-bedroom layouts. The pet-friendly asset features garage parking and a community pool and spa. Adam Levin, Robert Johnston and Eymon Binesh of Levin Johnston of Marcus & Millichap represented the seller and buyer in the deal.

January 22, 2019

Acquisitions Affordable Housing California Development Multifamily Western

Affirmed Housing Group to Develop 78-Unit Affordable Housing Development in San Diego

by Amy Works January 22, 2019

SAN DIEGO — Affirmed Housing Group has acquired a 10,000-square-foot land parcel located in downtown San Diego. Central Auto Parks LLC sold the property for $3.7 million. Affirmed Housing Group plans to develop a 78-unit affordable housing property on the currently vacant parcel at the southeast corner of Front and Beech streets. Victor Krebs of Colliers International San Diego Region represented the seller, while Affirmed Housing Group was self-represented in the transaction.

January 22, 2019

Newer Posts

Older Posts