PIKESVILLE, MD. — Blue Ocean has purchased the DoubleTree by Hilton Hotel and Conference Center located at 1726 Reisterstown Road in Pikesville, for an undisclosed price. Situated on 10 acres in Baltimore County, the hotel features 171 guestrooms, a 50,000-square-foot indoor tennis and fitness facility and office and retail buildings spanning 32,000 square feet. Steven Cornblatt and Gary Olschansky of Trout Daniel & Associates assisted Blue Ocean in the off-market deal. This transaction marks Blue Ocean’s first hotel acquisition. The Baltimore-based firm plans to renovate the asset in the coming years.
DECATUR, GA. — FCP, along with partner Croatan Investments, has completed the sale of The Clarion, a 217-unit apartment community in Decatur, about six miles northeast of Atlanta. Gamma Real Estate acquired the property for an undisclosed price. Nathan Swenson and Travis Presnell of Cushman & Wakefield represented the sellers, which recently completed renovations to individual units along and improvements to the building exteriors, common areas and community amenities. Built in 1990, The Clarion is situated near Emory University, the Centers for Disease Control and Prevention (CDC) and DeKalb Medical Center. Rents range from $1,115 to $2,165, according to Apartments.com. Community amenities include on-site laundry facilities, a clubhouse, tennis court, fitness center and a swimming pool with a sundeck.
SYRACUSE, N.Y. — Marcus & Millichap has brokered the sale of the Comfort Inn & Suites – Syracuse Airport, a 166-room hotel in Syracuse. The sales price was undisclosed. Jerry Swon and Daniel Zagoria of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer was KPG Hotels. The property is located approximately four miles from Syracuse Hancock International Airport. Amenities at the hotel include complimentary buffet breakfast, onsite restaurant and bar, indoor heated pool, fitness center and business center.
NEW YORK CITY — Rosewood Realty Group has negotiated the $3.7 million sale of a four-story apartment building in the Flatbush neighborhood of Brooklyn. Located at 2522 Newkirk Ave., the 15,800-square-foot building was built in 1915 and consists of 16 residential units. Michael Guttman and Aaron Jungreis of Rosewood represented the seller, Aulder Capital, in the transaction. Roswood also represented the buyer, Sutton Equity Capital.
WILMINGTON, DEL. — Wye Realty Advisors has arranged the $1.7 million sale of a 7,550-square-foot office building in Wilmington. Located at 400 Delaware Ave., the property is fully leased to two tenants, including a Bank of America branch, which was under construction at the time of sale. Wye Realty represented the seller, 400 Delaware Ave. LLC, in the transaction. The buyer was Brantwyn Holdings.
PLANO AND MANSFIELD, TEXAS — SHOP Cos. has negotiated the sale of Plano Crossing Building 1 and Mansfield Commons, two retail centers totaling 39,711 square feet in Plano and Mansfield, two cities in the Dallas-Fort Worth (DFW) metroplex. The properties are shadow-anchored by a Home Depot and Walmart Supercenter, respectively, and were both fully leased at the time of sale. Tim Axilrod and Tommy Tucker of SHOP Cos. represented the seller, California-based Black Lion Investment Group, in the Plano deal. The duo represented the buyer, a Texas-based limited liability company, in the Mansfield deal.
NEWNAN, GA. — The Praedium Group has acquired Trees of Newnan, a multifamily property located in Newnan, for $79.5 million, or $159,000 per unit. Chris Spain, Robert Stickel and Alex Brown of Cushman & Wakefield represented the seller, Watkins Real Estate Group, in the transaction. The buyer plans to rebrand the 500-unit property as The Willows at Ashley Park. On-site amenities include a fitness facility, resort-style pool, bark park pet playground and walking/jogging paths with natural wooded areas.
GAHANNA, OHIO — PEBB Enterprises has purchased Hunter’s Ridge, a 93,743-square-foot shopping center in Gahanna, an eastern suburb of Columbus. The purchase price was not disclosed. The property is located at the intersection of South Hamilton and Morrison roads. Kroger and Planet Fitness anchor the center. Other tenants include restaurants, a beauty salon, dance studio and medical office. PEBB now owns and operates four shopping centers in Ohio.
OAKDALE, MINN. — Summerhill Commercial Real Estate LLC has arranged the $8 million sale of a 109,444-square-foot warehouse in Oakdale, about 20 miles east of Minneapolis. Built in 1998, the property features a clear height of 24 feet, 13 dock doors and one drive-in door. RR Donnelly and Sky Zone fully occupy the property on net leases. Andy Richards and Peter Kordonowyof Summerhill represented the buyer, STAG Industrial Holdings LLC. Mark Young and John Higgins of Crossroads Properties Inc. represented the undisclosed seller.
TIGARD, ORE. — Los Angeles-based Watt Cos. has purchased Sygnii, a multifamily property located at 13285 SW Hawks Beard St. in Tigard, a suburb of Portland. Vancouver, Wash.-based Holland Partner Group sold the property for $75.2 million. Built in 2017, the property features 240 units in a mix of one-, two- and three-bedroom layouts. The property offers parking for 409 vehicles in 74 garages, 99 carport stalls and 236 surface spaces. Mark Washington, David Young and Corey Marx of JLL represented the seller, which developed the property.