Acquisitions

IPA Negotiates Sale of 375-Unit Apartment Property in Fort Worth

by Taylor Williams October 8, 2018

FORT WORTH, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of RiverVue Apartments, a 375-unit multifamily property in Fort Worth. Built in 2017, the community is located within the 63-acre Trinity River in Waterside mixed-use development and consists of studio, one- and two-bedroom units. Amenities include a pool, fitness center, outdoor grilling area, cyber lounge and conference room, on-site storage units, a game room and nearby walking trails. Will Balthrope, Drew Kile and Joey Tumminello of IPA represented the buyer, St. Regis Properties, in the sale. Jake Roberts, also of IPA, arranged a 10-year, fixed-rate loan for the acquisition through an undisclosed life insurance company.

October 8, 2018

Acquisitions California Retail Western

SRS Arranges $10.3M Sale of 11,950 SF Retail Center in Sunnyvale, California

by Amy Works October 8, 2018

SUNNYVALE, CALIF. — SRS Real Estate Partners has negotiated the sale of Mary Manor Center, a retail center in Sunnyvale. A high-net-worth private investor acquired the property from a local family office for $10.3 million in a 1031 exchange. Located at 201 S. Mary Ave., the two-building property is situated on 1.1-acre site. The 11,950-square-foot property is fully occupied by Starbucks Coffee and six other neighborhood retailers. This is the first time the property has traded hands since it was built in 2004. Chris Tramontano, John Redfield and Bruce Frazier of SRS represented the seller in the transaction.

October 8, 2018

Acquisitions Multifamily Nevada Seniors Housing Western

The Ensign Group Acquires 73-Unit Seniors Housing Community in Las Vegas

by Amy Works October 8, 2018

LAS VEGAS — The Ensign Group, through its Bridgestone Living portfolio company, has acquired Villa Court Assisted Living and Memory Care in Las Vegas. The community features 53 units of assisted living and 20 units of memory care. Villa Court had an occupancy rate of approximately 74 percent at the time of acquisition. This acquisition brings Ensign’s portfolio to 186 skilled nursing operations (22 of which also include assisted living), 52 assisted and independent living operations, 21 hospice agencies, 22 home health agencies and six home care businesses across 16 states. Ensign owns the real estate at 69 of its 237 healthcare operations.

October 8, 2018

Acquisitions Arizona Retail Western

Orion Investment Negotiates $4M Sale of Retail Center in Phoenix

by Amy Works October 8, 2018

PHOENIX — Orion Investment Real Estate has arranged the sale of Campbell Shops at 24th, a retail center in Phoenix. Yuma-based Santa Fe Arms LLC sold the property to KCS Arizona for $4 million, or $466 per square foot. At the time of sale, the approximately 8,584-square-foot property was fully occupied. Tenants include 7-Eleven, Ye Old Pipe & Tobacco, Fit Optical and Noble Eatery. Ari Spiro and Sean Stutzman of Orion Investment represented the seller, while Larry Kush of Orion and Sunhee Lee of Cambridge Properties represented the buyer in the deal.

October 8, 2018

Acquisitions Industrial Nevada Western

RealComm Advisors Brokers $1.7M Acquisition of Industrial Property in Las Vegas

by Amy Works October 8, 2018

LAS VEGAS — RealComm Advisors has arranged the purchase of an industrial property located within the Martin Hinson Business Center at 6683 Schuster St. in Las Vegas. Tabs Realty acquired the property for $1.7 million. Greg Pancirov and Mike De Lew of RealComm Advisors represented the buyer in the deal.

October 8, 2018

Acquisitions Illinois Industrial Midwest

Dayton Street Partners Acquires 172,000 SF Logistics Facility in Suburban Chicago for $31.5M

by Kristin Harlow October 8, 2018

ALSIP, ILL. — Dayton Street Partners, together with an institutional investor, has acquired a 172,000-square-foot logistics facility in Alsip for $31.5 million. The seller, Experior Transport, will lease back the building for the next 15 years. The property features 100,376 square feet of warehouse space with a clear height of 32 feet, 69 dock doors and one drive-in door. There is also a 30,000-square-foot truck maintenance facility with 12 drive-in doors and 41,624 square feet of office space. Joshua Hearne of Cawley Chicago represented the buyer. Robin Stolberg, Kurt Sarbaugh, Steve Skok and Sam Berry of HFF arranged acquisition financing on behalf of Dayton Street.

October 8, 2018

Acquisitions Midwest Multifamily Wisconsin

HFF Brokers Sale of 112-Unit Apartment Community in Suburban Milwaukee

by Kristin Harlow October 8, 2018

GERMANTOWN, WIS. — HFF has arranged the sale and acquisition financing for River’s Cove Apartments in Germantown, a suburb of Milwaukee. The 112-unit apartment community is situated on 11 acres and overlooks the Menomonee River. Units average 1,062 square feet. Amenities include a picnic area, parking garage and access to nearby walking trails. The property was 98 percent occupied at the time of sale. Wick Kirby, Kevin Girard, Sean Fogarty, Marty O’Connell, Jaime Fink and Matthew Lawton of HFF represented the seller, Mandel Group Inc. Tom Wilson and Jason Bond of HFF arranged a 12-year Fannie Mae loan through M&T Realty Capital on behalf of the buyer, Weidner Apartment Homes.

October 8, 2018

Acquisitions Industrial Michigan Midwest

Brennan Purchases 90,121 SF Manufacturing Facility in Grand Haven, Michigan

by Kristin Harlow October 8, 2018

GRAND HAVEN, MICH. — Brennan Investment Group LLC has purchased a 90,121-square-foot industrial property in Grand Haven, about 33 miles west of Grand Rapids. The purchase price was not disclosed. The property serves as the headquarters and manufacturing facility for Lakeshore Fittings, which specializes in brass and aluminum machined components and fittings. The tenant has occupied the facility since its completion in 1989. The seller was not disclosed.

October 8, 2018

Acquisitions Self-Storage Southeast Tennessee

US Storage Centers Buys Three Self-Storage Facilities in Metro Nashville

by Amy Works October 8, 2018

LA VERGNE AND NOLENSVILLE, TENN. — US Storage Centers has purchased three self-storage facilities in metro Nashville for an undisclosed price. The facilities include a 68,660-square-foot, 641-unit property at 5565 Murfreesboro Road and a 59,590-square-foot, 485-unit facility located at 211 New Paul Road in La Vergne. The third asset is a 67,113-square-foot, 528-unit property located at 2001 Johnson Industrial Blvd. in Nolensville. The properties feature climate-controlled units, ground-floor units and parking. US Storage Center was self-represented, while Ashley Compton of Colliers International’s Self Storage Group represented the undisclosed seller in the deal. US Storage Center currently owns and operates 11 self-storage facilities in Tennessee.

October 8, 2018

Acquisitions Industrial New Jersey Northeast

Marcus & Millichap Brokers $10.9M Sale of Industrial Facility in Elmwood Park, New Jersey

by David Cohen October 5, 2018

ELMWOOD PARK, N.J. — Marcus & Millichap has brokered the sale of a 117,000-square-foot industrial facility in Elmwood Park. The five-acre property, which is located at 1 Paul Kohner Place, sold for $10.9 million at a 6 percent capitalization rate. Donovan Mackey, Mark Taylor, David Beyel, Mitch Cowan and Joe Batres of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The buyer was also a limited liability company.

October 5, 2018

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