FRESNO, CALIF. — The Mogharebi Group (TMG) arranged the sale of Canyon Springs Apartments, a multifamily property located on North Figarden Drive in Fresno. A San Diego-based private investment group acquired the asset for $19 million, or $137,681 per unit. Built in 2004, Canyon Springs Apartments comprises 14 residential buildings offering a total of 138 apartments in a mix of one-, two- and three-bedroom floor plans, averaging 1,058 square feet. Units feature wood laminate or vinyl flooring in the kitchen and bath areas, plush carpeting in the bedrooms and living areas, in-unit washers/dryers, and balconies or covered patios. Situated on 14.7 acres, the property features a swimming pool and spa, clubhouse, tot lot, business center, fitness center, basketball court, volleyball court and covered parking. Alex Mogharebi, Otto Ozen, Robin Kane and Brendan Kane of TMG represented the seller, a Clovis, Calif.-based private investment group, in the deal.
DALLAS — Local investment firm SkyWalker Property Partners has purchased a 227,891-square-foot office building located at 8151 LBJ Freeway in Dallas. The property was built in 1981 on 3.4 acres. Gary Walker and Clint Holland of SkyWalker represented the buyer of record, which plans to invest $500,000 in capital improvements to the eight-story, Class B building. HFF represented the seller, Credit Union of Texas, which formerly housed its headquarters in the building and has leased back 110,876 square feet of space.
HOUSTON AND WEBSTER, TEXAS — NAI Partners’ Investment Fund II has acquired two commercial assets totaling 215,835 square feet in the Houston area, bringing the fund to full deployment. Leghorn Service Center is a 66,530-square-foot industrial building in northwest Houston, and Clear Lake Business Center is a 149,305-square-foot flex property in the southeastern suburb of Webster. Andrew Pappas, Adam Hawkins, and John Nolan of NAI Partners’ negotiated and closed the deals. The seller was Berkeley Properties.
LAKE ELSINORE AND VISTA, CALIF. — Faris Lee Investments has brokered the $5.3 million sale of two quick-serve restaurants in California via two separate transactions. In the first transaction, Loan Oak Ranch acquired a newly constructed restaurant property, located in front of the recently completed Central Plaza in Lake Elsinore. The seller was HFC/PRP Elsinore LLC. The property was pre-sold, as it was still under construction at the time of sale, for $3.8 million. Jeff Conover and Chris DePierro of Faris Lee Investments represented the seller, while Schuil & Associates represented the buyer. In the second deal, Northern California-based Maddvio California purchased a newly constructed quick-serve restaurant property in downtown Vista from 227 Broadway LLC for $1.5 million. DogHaus Restaurant & Brewery, a “craft-casual” gourmet hot dog chain, occupies the 3,593-square-foot property. Conover, Scott DeYoung and Hunter Steffien of Faris Lee Investments represented the seller, while Faris Lee represented the buyer in the transaction.
HARLINGEN, TEXAS — JLL has negotiated the sale of Stoneleigh Harlingen, a 180-unit multifamily community in the Rio Grande Valley city of Harlingen. Built in 2006, the property offers one- and two-bedroom units and amenities such as a pool, fitness center, business center and a resident clubhouse. Zar Haro, Moses Siller and Robert Arzola of JLL represented the seller, Seneca Investments, in the transaction. Leuven Group acquired the asset for an undisclosed price.
SALINAS, CALIF. — Lee & Associates – North San Diego County has arranged the sale of a retail property, located on 0.3 acres in Salinas. BEWS Main Street LLC sold the property to Bei-Scott Co. for $2.2 million. 7-Eleven occupies the 2,251-square-foot retail building, which was built in 1987. Ryan Barr and Ryan Bennett of Lee & Associates – North San Diego County represented the seller, while Shoemaker Commercial Real Estate represented the buyer in the deal.
FORT LAUDERDALE, FLA. — Cushman & Wakefield has arranged the $29.2 million sale of Lakeshore Business Center, a four-building office park in Fort Lauderdale. The business center is located at 5100 and 5200 NW 33rd Ave. and 3201-3125 W. Commercial Blvd., about seven miles north of downtown Fort Lauderdale. Mike Davis, Scott O’Donnell, Dominic Montazemi, Greg Miller, Rick Brugge and Michael Lerner of Cushman & Wakefield represented the seller, Morning Calm Management, in the transaction. Miami-based YMP Real Estate purchased the asset, which was 79 percent leased at the time of the sale.
BOSTON — Skanska and PGIM Real Estate have sold The Harlo, a 17-story multifamily tower in the Fenway neighborhood of Boston. Global real estate investment manager Invesco Real Estate purchased the property for $150 million. The 183,000-square-foot property includes 212 boutique apartments as well as retail space. At the time of sale, the property was 98 percent leased.
NEW YORK CITY — Alchemy Ventures LLC has acquired a nine-building apartment portfolio in the Bedford-Stuyvesant section of Brooklyn for $25 million. The buildings contain a total of 81 units. New York City-based law firm Schwartz Sladkus Reich Greenberg Atlas LLP represented Alchemy Ventures in the transaction. The seller was IWC General Partners. Pacific Western Bank provided the acquisition financing.
PORT CHESTER, N.Y. — M&J Wilkow and MetLife Investment Management have acquired Port Chester Shopping Center, a 493,459-square-foot shopping center in Port Chester. The sales price was undisclosed. Whole Foods and Kohl’s anchor the open-air retail center. The rest of the tenant roster includes HomeGoods, Ulta and Old Navy. The seller was not disclosed.