HOUSTON — Colliers International has negotiated the sale of an 8,364-square-foot office building located at 15055 Woodham Drive, just off Interstate 45 in north Houston. Daniel Tapia and Tom Condon Jr. of Colliers International represented the seller, Nacobre USA LLC, in the transaction. Bob Conwell and John Nguyen of NewQuest Properties represented the buyer, Destiny Real Estate Houston LLC, an affiliate of California-based The Marwaha Group.
DAVIE, FLA. — Boardwalk Properties has bought a 394-unit apartment complex for $119 million in Davie, about eight miles west of Fort Lauderdale. Boardwalk will rename the complex to The Avenue from its current name, Elan Maison. Amenities include a three-story clubhouse, fitness center, yoga studio, billiards and a pool. Neil Rollnick of Hinshaw & Culbertson LLP represented the buyer in the transaction. Pacific Investment Management Co. LLC and Greystar were the sellers.
CARY, N.C. — Accesso Partners LLC has bought the Weston I and II Parkway portfolio near Research Triangle Park in Cary for $73 million. The seller was Raleigh-based Capital Associates. Weston I is a six-story, 212,441-square-foot office building that was 97 percent leased at the time of the transaction. Weston II is a four-story, 77,742-square-foot building that was 100 percent leased at the time of the transaction. Ryan Clutter, Scot Humphrey, Chris Lingerfelt and Zack Drozda of HFF represented the seller in the transaction. Frank Baird of Capital Associates will stay on as property manager and leasing agent.
BIRMINGHAM, ALA. — Berkadia has arranged the $56 million sale of Wildwood Crossings Apartments, a 520-unit multifamily complex in Birmingham. The buyer, New York City-based White Eagle Property Group LLC, will renovate the interiors of the units as well as update amenities community-wide. David Oakley, David Wilson, Caleb Frizzell and Abe Maddox of Berkadia represented the undisclosed seller in the transaction.
SACRAMENTO, CALIF. — Seagate Properties has acquired The Senator, a landmark office building located at 1121 L Street in Sacramento. Swift Real Estate Partners sold the property for an undisclosed price. Opened in 1924 as a hotel, the property was converted into a 180,123-square-foot office building in 1982. The seller acquired the property in 2015 and implemented a renovation program to transform the building’s traditional office space into modern, creative workspace. Situated across from the California State Capitol, the 10-story building is currently 88 percent leased. Rob Hielscher, Michel Seifer and Erik Hanson of JLL Capital Markets team represented the seller in the deal. Additionally, Alex Witt, John Manning and Tom Gilliland of JLL Capital Markets worked with the buyer to arrange acquisition financing.
PHOENIX — LaSalle Investment Management, on behalf of LaSalle Property Fund, has purchased San Melia, a multifamily property located at 14435 S. 48th St. in Phoenix’s Ahwatukee Foothills neighborhood. Situated on 28 acres, the Mark Taylor-built community features 488 units and is located adjacent to more than 2.4 million square feet of retail, dining and recreation options at Ahwatukee Foothills Towne Center. A pedestrian walkway connects the property to the retail center, which is anchored by AMC Theatres and Sprouts Farmers Market. The acquisition price and name of the seller were not released.
CITY OF INDUSTRY AND GARDENA, CALIF. — Rexford Industrial has completed two transactions in Southern California markets. In the first deal, the company acquired an industrial property located at 14421-14441 Bonelli St. in City of Industry for $19.5 million, or $131 per square foot. Situated on 6.2 acres, the 148,740-square-foot property features 16 dock positions, 22-foot to 24-foot clearances, heavy power and a fenced yard. At the time of sale, the building was fully leased. In the second transaction, Rexford completed the sale of a three-building asset located at 311, 319 and 329 E. 157th St. in Gardena. Owner-occupants acquired the properties for a total of $10.4 million, or approximately $207 per square foot. The buildings contain 48,000 square feet on 3.2 acres of land. Rexford used proceeds from the disposition in a tax-deferred 1031 exchange to fund a portion of the Bonelli Street acquisition.
MODESTO, CALIF. — Loeffler Self-Storage Group has brokered the sale of EZ Store It, a self-storage facility located at 1522 Crows Landing and 1601 Jim Way in Modesto. Faith Realty & Development Co. sold the property to a Sacramento-based investor for $3.6 million, or $66.47 per square foot. Built in 1983, the property features 54,533 net rentable square feet. At the time of sale, 94 percent of the 571 units were occupied. Bobby Loeffler and Tyler Skelly of Loeffler Self-Storage Group represented the seller and buyer in the deal.
HOUSTON — Houston-based retail firm Baker Katz has purchased PlazAmericas Mall, an 850,000-square-foot shopping destination in Houston. Formerly known as Sharpstown Mall, the property was built in 1961 and has undergone several renovations over the years. PlazAmericas Mall is situated on 37 acres and is the oldest enclosed mall in Houston. Matt Berry and Robbie Kilcrease of CBRE brokered the deal on behalf of the seller, Philadelphia-based RAIT Financial Trust. The tenant roster at the mall, which was approximately 70 percent occupied at the time of sale, includes Champs Sports, TX America Cinemas and Banana Bay Restaurant & Bar. The Harris County Appraisal District values the property at $12.2 million, according to The Houston Chronicle.
MESQUITE, TEXAS — Dallas-based SevenSeas Holdings VI LLC has acquired Oates Creek Apartments, a 280-unit multifamily community in Mesquite, an eastern suburb of Dallas. The property features one- and two-bedroom units and amenities such as a pool, business center, outdoor grilling area and a resident clubhouse. Minneapolis-based Dougherty Mortgage LLC arranged an undisclosed amount of Fannie Mae financing for the acquisition on behalf of SevenSeas Holdings. The loan carried a 12-year term and a 30-year amortization schedule.