CRYSTAL LAKE, ILL. — Podolsky Circle CORFAC International has arranged the sale of 300 Millennium Drive in Crystal Lake for $8 million. The 92,453-square-foot industrial building is fully leased. It features a clear height of 21 feet, three truck docks, three drive-in doors and office space. Alissa Adler, John Homsher, Paul Tesdal and Stephen Podolsky represented the buyer, MR Michigan LLC. A local investor purchased the asset.
HOUSTON — CBRE National Senior Housing has arranged the sale and acquisition financing for The Village Portfolio, a two-property, 224-unit assisted living portfolio in Houston. Lisa Widmier of CBRE National Senior Housing represented the institutional seller. Aron Will of CBRE National Senior Housing and Austin Sacco of CBRE National Senior Housing arranged acquisition financing on behalf of a joint venture between Bridgewood Property Co. and an institutional investor. CBRE secured two separate five-year, non-recourse, floating-rate loans on an interest-only basis from a debt fund. Retirement Center Management, Bridgewood’s wholly owned management affiliate, will continue to operate the portfolio.
BAYTOWN, TEXAS — Adkisson Group Inc. has purchased nearly 225 acres near Baytown and the Port of Houston for the development of a new business park. Parkside Capital sold the land to Adkisson Group for an undisclosed price. The project, Bay 10 Business Park, will be situated on the west side of Grand Parkway south of Interstate 10 East. Adkisson Group will begin permitting and building several 10,000- to 30,000-square-foot freestanding buildings that will offer crane capabilities and acreage for outside storage. Robert McGee, Thomas Leger, Chase Cribbs and Josh Cheatham of Lee & Associates – Houston represented Adkisson Group in the land acquisition and will take on the marketing assignment for Bay 10 Business Park. Davis Adams, Rusty Tamlyn, and Trent Agnew of HFF represented the seller.
EL PASO, TEXAS — NorthMarq Capital has brokered the sale of two multifamily assets totaling 391 units in El Paso. Las Vegas-based MKL Capital Group LLC purchased the 232-unit Indian Springs from Arizona-based Talos Holdings LLC, and a Los Angeles-based private investment firm acquired the 159-unit Desert Peaks from SCP El Paso LLC. Indian Springs offers a business center and fitness center, and Desert Peaks includes a basketball court. Both communities feature pools and dog parks. Bill Hahn, Trevor Koskovich and Jesse Hudson of NorthMarq represented the buyers and sellers in both deals.
SAN ANTONIO — JLL has negotiated the sale of 333 Place Apartments, a 48-unit multifamily community located near the Pearl Brewery in San Antonio. The property offers one- and two-bedroom units, as well as a pool and onsite laundry facilities. The buyer, Austin-based Joseph Cos., will implement a capital improvement program to the unit interiors that features smart-home technology and stainless steel appliances. Zar Haro, Moses Siller and Robert Arzola of JLL brokered the deal. The seller was not disclosed.
NEW YORK CITY — GFI Realty Services has brokered the $15.5 million sale of a six-story, pre-war apartment building in the Madison section of Brooklyn. Located at 2261 Ocean Ave., the 52,812-square-foot property consists of 54 rent-stabilized apartments. Erik Yankelovich of GFI represented the seller, a group of local investors, in the transaction. Josh Orlander of GFI represented the buyer, who was undisclosed.
READING, MASS. — JOSS Realty has acquired a 139,356-square-foot office building in Reading. The sales price was not disclosed. Located at 55 Walkers Brook Drive, the fully leased property is less than a mile from the MBTA commuter rail in downtown Reading. Reading is approximately 14 miles north of downtown Boston. Cushman & Wakefield’s Boston Capital Markets team represented JOSS in the transaction. The seller was Rubenstein Partners LP and Nordblom Co.
NEW YORK CITY — Marcus & Millichap has negotiated the $4.1 million sale of a multifamily building in the Carroll Gardens neighborhood of Brooklyn. Located at 306 Union St., the 4,620-square-foot property includes four units. Shaun Riney, Michael Salvatico and John Barney of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, in the transaction. The buyer was also a private investor.
WILSONVILLE, ORE. — MG Properties Group has acquired two multifamily properties in Wilsonville, a suburb of Portland, for a total of $92.1 million. The company acquired Domaine at Villebois, a 274-unit property built in 2008, from a partnership between Holland Partner Group and Hetiman for $69.5 million and the 126-unit Haven at Charbonneau, built in 1990, from TruAmerica Multifamily for $22.6 million. Both properties feature a mix of floor plans and a variety of on-site amenities, including outdoor pools and hot tubs, fitness centers and updated clubhouses. Ira Virden and Carrie Kahn of HFF represented the sellers in the deal. Charles Halladay, Rick Salinas, Scott Gilson and Charlie Wilson of HFF arranged financing for the acquisition. MG Properties has purchased 12 properties in the past 12 months, totaling more than 3,200 units and over $880 million in combined valued. The company is targeting additional acquisitions in Washington, Oregon, Arizona, California, Colorado and Nevada.
CHICO, CALIF. — Newmark Knight Frank (NKF) has arranged the sale of Chico Mall, a regional mall located off Highway 99 and East 20th Street in Chico. Ethan Conrad Properties acquired the 503,710-square-foot property for an undisclosed price. Situated on nearly 39 acres, the mall features more than 30 tenants, including Dick’s Sporting Goods, JCPenney and Forever 21. Nicholas Bicardo, Thomas Dobrowski and Brandon Rogoff of NKF represented the undisclosed seller in the deal.
