CARLISLE, PA. — Hotel owner-operator MCR has acquired the 78-room Residence Inn by Marriott Harrisburg Carlisle in Carlisle. The sales price was undisclosed. Located at 1 Hampton Court, the hotel is approximately two miles from the U.S. Army War College. Amenities at the property include free Wi-Fi, a convenience store, heated indoor pool and whirlpool spa, a 24-hour fitness center and on-site laundry service. The seller was not disclosed.
PRINCETON, N.J. — CBRE Institutional Properties has negotiated the sale of a 110,000-square-foot, two-building office complex in Princeton. The sales price was undisclosed. Located at 100 and 101 Thanet Circle, the property sits on 15 acres and is less than two miles from downtown Princeton and Princeton University. Jeffrey Dunne, Jeremy Neuer, Travis Langer and Zachary McHale of CBRE represented the undisclosed seller in the transaction. The buyer was KABR Group.
ITHACA, N.Y. — HREC Investment Advisors has brokered the sale of the 106-room Fairfield Inn & Suites in Ithaca. The sales price was undisclosed. The property is located at 359 Elmira Road, approximately two miles from both Cornell University and Ithaca College. Ketan Patel of HREC Investment Advisors represented the seller, Titan Hotel Group, in the transaction. The buyer was undisclosed.
CHANDLER, ARIZ. — Greystar GP II, an entity formed by Charleston, S.C.-based Greystar, has acquired River Ranch, a multifamily property located at 6152 W. Oakland St. in Chandler. PHX Oakland 2010, a company formed by San Mateo, Calif.-based Acacia Capital Corp., sold the property for $32 million. Jim Crews of Cushman & Wakefield’s Phoenix office represented the seller in the deal. River Ranch is a two-story, 11-building, garden-style complex that features 188 units in a mix of one- and two-bedroom floor plans, averaging 742 square feet. Built in 1986, the property has undergone $2.5 million of capital improvements over the last seven years, including washers/dryers installed in all units, roof replacement, exterior paint and new black appliance packages in 31 units.
PALM DESERT, CALIF. — Paragon Commercial Group has sold a single-tenant, 45,648-square-foot, Walmart-occupied property in Palm Desert. A private investor from Chicago acquired the property for $13.5 million. William Bauman, Kyle Miller and Matthew Schwartz of Newmark Knight Frank represented seller in the transaction while Mike Mintz of Millennium Properties represented the buyer. The property sold at a cap rate of 5 percent and a price per square foot of approximately $296. The triple-net leased asset is situated on 5.37 acres at 72314 Highway 111.
WOODLAND HILLS, CALIF. — Bolour Associates has purchased a flex commercial building, located at 21200 Oxnard St. in Woodland Hills, for an undisclosed price. Situated on three acres, the property features 50,000 square feet of commercial space. Additionally, the building is part of the Warner Center 2035 Specific Plan, which promotes high-density development in the Warner Center neighborhood of San Fernando Valley. The building is surrounded by development, including a 120,000-square-foot seniors housing facility, 110,000-square-foot medical office building, 170-room hotel and 461-unit apartment complex. Nigel Stout of JLL represented the buyer in the deal. David Harding, Billy Walk and David Josker of CBRE will oversee the leasing of the property.
MILWAUKEE — Berkadia has arranged the sale of Avenir Apartments on Jefferson in Milwaukee for $22.7 million. The 104-unit apartment community includes 7,045 square feet of retail space. Located at 1437 N. Jefferson St., the property features studio, one- and two-bedroom floor plans. Ralph DePasquale, Alex Blagojevich and Parker Stewart of Berkadia represented the seller, an entity managed by Wangard Partners. Weidner Apartment Homes purchased the asset.
GERMANTOWN, WIS. — Founders 3 Real Estate Services Inc. has brokered the sale of a 162,230-square-foot industrial building in Germantown for an undisclosed price. The building, located within Willow Creek Business Park, serves as the headquarters for DiscountRamps.com with 18,610 square feet designated as office space. The seller, Weas Development, completed construction of the building in September. Andy Hess and Bob Flood of Founders 3 brokered the transaction on behalf of the seller. An affiliate of STAG Industrial Inc. purchased the building.
SAN ANTONIO — JLL has negotiated the sale of Whispering Hills, a 164-unit multifamily property located in northeast San Antonio. According to apartments.com, the property was built in 1983 and features one-, two- and three-bedroom units. Amenities include a pool, business center, outdoor picnic areas and a dog park. Moses Siller and Zar Haro of JLL represented the seller, Houston-based Triad Real Estate Consulting Group, in the transaction. The buyer was GVA Pro LLC.
BEAUMONT, TEXAS — Southern Properties Capital, a subsidiary of Transcontinental Realty Investors Inc. (NYSE: TCI), has acquired Chelsea Apartments, a 144-unit multifamily community in Beaumont. Built in 1999, the property offers one-, two- and three-bedroom units ranging in size from 618 to 1,239 square feet, as well as a pool, business center and a clubhouse. The seller was not disclosed.