CARLSBAD, CALIF. — Harrison Street has received a loan to facilitate the acquisition of a 153-unit senior living community located in Carlsbad. Oakmont Santianna totals 153 units, including independent living, assisted living and memory care residences. Oakmont Management Group developed the property, which opened in 2022. BWE arranged the financing, which includes a 10-year, fixed-rate loan with full-term interest-only payments. A life insurance company provided the loan. Oakmont Management Group will continue to operate the community on behalf of the new ownership.
NORTHBROOK, ILL. — Quantum Real Estate Advisors Inc. has brokered the $4.5 million sale of a 56,219-square-foot flex industrial building in the Chicago suburb of Northbrook. At the time of sale, the property on Techny Court was 82 percent leased. A private investor based in the northern suburbs of Chicago sold the asset to an affiliate of Core Acquisitions, a real estate investment and development firm based in Illinois. Brett Berlin and Max Himel of Quantum brokered the sale.
LIBERTYVILLE, ILL. — Marcus & Millichap has arranged the $2.5 million sale of a medical office property net leased to Forefront Dermatology in the Chicago suburb of Libertyville. Originally built in 1996 as a Burger King, the 6,300-square-foot building underwent a full renovation in 2018 and an expansion in 2022 to accommodate the seller’s wife’s dermatology practice, which was later acquired by Forefront Dermatology. The asset is located at 1234 N. Milwaukee Ave. Daniel Chumbley, Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the buyer, a local private investor that is actively expanding its healthcare real estate portfolio across Chicagoland.
REDFORD TOWNSHIP, MICH. — Friedman Real Estate has negotiated the sale of an 18,800-square-foot industrial property located at 24800 Plymouth Road in the Detroit suburb of Redford Township. Phil Konopitski of Friedman represented the seller, Dudek Property Investments LLC. Crown Specialty Investments LLC was the buyer.
NEW YORK CITY — W. P. Carey, a New York City-based REIT specializing in net-leased deals, has acquired a food processing facility in Tennessee in a sales-leaseback transaction valued at $166 million. The exact location of the facility, which was completed in May and is occupied by a subsidiary of Canadian manufacturer and distributor Premium Brands Holding Corp., was not disclosed. The facility spans approximately 350,000 square feet. Building features include 40-foot clear heights, 27 dock doors and over 250,000 square feet of cooler and freezer space. In addition, the facility is fully powered by renewable energy sources and is expected to receive LEED Silver certification. Under the terms of the deal, which formally closed earlier this summer, Premium Brands is subject to a triple-net lease for a term of 25 years with fixed annual rent increases. Premium Brands will reinvest the proceeds of the sale into its core business. “We’re thrilled to partner with Premium Brands on this transaction, which highlights our conviction in the food production sector and our ability to structure real estate solutions that support operational growth for market-leading companies,” says Boyd Borjiet, vice president of investments at W. P. Carey. — Taylor Williams
HOUSTON — A limited liability company doing business as 14700 TP LLC has purchased Ten Pines at Summerwood, a multifamily property in northwest Houston, for $31.2 million. According to LoopNet Inc., the property was built in 2013 and totals 240 units. Units come in one-, two- and three-bedroom floor plans and are furnished with island kitchens, stainless steel appliances, ceramic tile flooring, walk-in closets and individual washers and dryers. Amenities include a pool, fitness center, business center, clubhouse, sports lounge and an outdoor lounge area. Dustin Seltzer of JLL was the listing agent on the deal.
KILLEEN, TEXAS — JLL has negotiated the sale of Killeen Marketplace, a shopping center in Central Texas. According to the website of the new owner, Chase Properties, Killeen Marketplace totals roughly 116,000 square feet and is anchored by Best Buy, Ross Dress for Less, Shoe Carnival and dd’s Discounts. The property traded as part of a portfolio deal that included a retail center in Lufkin, Texas, as well as two shopping centers in Arkansas. Adam Howells, Barry Brown and Erin Lazarus of JLL represented the seller, Ball Ventures, in the transaction. Deborah Johnson of JLL assisted in closing the deal as the broker of record.
STAFFORD, TEXAS — EDGE Capital Markets has brokered the sale of Shops at The Grid, a 12,500-square-foot retail strip center in Stafford, a southwestern suburb of Houston. The newly constructed center, which was fully leased at the time of sale, lies at the entrance of The Grid, a 192-acre master-planned development anchored by Costco Business Center and Target. Chace Henke and Micha van Marcke of EDGE represented the undisclosed seller in the transaction.
MIAMI GARDENS, FLA. — Core Palmetto, an affiliate of Core Investment Management, has sold Palmetto Plaza, a 186,095-square-foot retail center located in Miami Gardens, roughly 16 miles north of downtown Miami. The sales price was $46 million. Core originally acquired Palmetto Plaza in 2021 for $33 million.Aldi and Dollar Tree anchor the property, which was more than 95 percent leased at the time of sale. Other tenants include The UPS Store, Regions Bank, Dunkin’ and Bright Star Academy. Built in 1987, the center sits on nearly 12 acres. Douglas Mandel and Zach Levine of Marcus & Millichap represented Core in the transaction and procured the undisclosed buyer.
ST. PETERSBURG, FLA. — CBRE has arranged the sale of Carillon Bay Apartments, a 304-unit, value-add multifamily complex located in St. Petersburg within the Gateway Business District. A Texas-based firm purchased the property for $37 million, according to the Tampa Bay Business Journal. Michael Regan, Cameron Barbas and Matthew Valeri of CBRE represented the seller, Eagle Property Capital, in the transaction. Formerly Gateway on 4th, Carillon Bay comprises 32 two-story buildings and offers one-, two- and three-bedroom floorplans ranging in size from 618 square feet to 1,498 square feet. Units also feature walk-in closets, washer/dryers and private patios or balconies. Amenities include a resort-style swimming pool, 24-7 fitness center, dog park and a children’s playground.