Acquisitions

CBRE Brokers Sale of Multifamily Development Site in White Plains, New York

by Taylor Williams May 16, 2025

WHITE PLAINS, N.Y. — CBRE has brokered the sale of a multifamily development site in White Plains, located north of New York City. The 1.3-acre site at 1 Water St. is located on the eastern edge of the downtown area, directly adjacent to the local public transit station. A partnership between David Gaber of Bijou Properties and Kavneet Sethi of Green Property LLC purchased the site, which is approved for the development of a 301-unit high-rise building, from New Jersey-based Veris Residential. Jeffrey Dunne, Eric Apfel and Travis Langer of CBRE brokered the deal.

May 16, 2025

Acquisitions Kentucky Mixed-Use Restaurant Retail Southeast Top Stories

Hendricks Commercial Properties Acquires Summit at Fritz Farm Mixed-Use Development in Lexington, Kentucky

by John Nelson May 16, 2025

LEXINGTON, KY. — Hendricks Commercial Properties, a Wisconsin-based development and investment firm, has acquired The Summit at Fritz Farm, a mixed-use development in Lexington that opened in 2017. The development features a collection of more than 60 shops and restaurants that sit below modern offices and The Henry apartments. Some components of the development that were not included in the sale include the Origin Lexington hotel and a 192-unit seniors housing community, Legacy Reserve at Fritz Farm. Hendricks did not disclose the sales price or specific aspects of the acquisition beyond the commercial space. Hendricks acquired the development from a partnership between Swift Creek Real Estate Partners and Centennial Real Estate Management LLC, which has owned The Summit at Fritz Farm since acquiring the original developer, Birmingham, Ala.-based Bayer Properties, in 2022. “We are excited to add Fritz Farm to our portfolio,” says Rob Gerbitz, CEO of Hendricks Commercial Properties. “This acquisition aligns with our strategic vision of investing in high-quality, experiential mixed-use properties that serve as community hubs. We look forward to building upon the strong foundation established at Fritz Farm and continuing to enhance the experience for tenants and guests alike.” Whole Foods Market, Pottery Barn and Arhaus anchor …

May 16, 2025

Acquisitions Industrial Texas

Finial Group Arranges Sale of 21,879 SF Warehouse in West Houston

by Taylor Williams May 15, 2025

HOUSTON — Locally based brokerage firm Finial Group has arranged the sale of a 21,879-square-foot warehouse in West Houston. According to LoopNet Inc., the single-tenant building at 11505 Todd St. was originally constructed in 1953. Chase Tucker and William Alcorn of Finial Group represented the undisclosed seller in the transaction. The name and representative of the buyer were also not disclosed.

May 15, 2025

Acquisitions Delaware Multifamily Northeast

Berkadia Brokers $23.2M Sale of Multifamily Property in Milford, Delaware

by Taylor Williams May 15, 2025

MILFORD, DEL. — Berkadia has brokered the $23.2 million sale of The Reserve at Sawmill, a 149-unit multifamily property in Milford, about 20 miles south of Dover. The sales price equates to a cap rate of roughly 5.7 percent. The property was delivered in phases between 1984 and 2008 and offers one-, two- and three-bedroom apartments, as well as five townhomes. Nat Gambuzza, Trevor Fiebel, Zac Pierce, Matthew Stefanski and Maura Spellman of Berkadia represented the undisclosed seller in the transaction. The buyer was also not disclosed. The property was fully occupied at the time of sale.

May 15, 2025

Acquisitions Industrial New Jersey Northeast

DHPH Acquires 55,000 SF Vacant Industrial Building in Swedesboro, New Jersey

by Taylor Williams May 15, 2025

SWEDESBORO, N.J. — Regional investment firm DH Property Holdings has acquired a 55,000-square-foot vacant industrial building in Swedesboro, located in Southern New Jersey. The building sits on a 14.7-acre site at 509 Heron Drive and features a clear height of 22 feet, five loading docks, four drive-in doors, 130-foot truck court depths, 60 car parking spots and three acres of fenced storage space. Jonathan Klear of NAI Mertz, along with Ian Richman & Marc Isdaner of Colliers, brokered the off-market deal. The seller was not disclosed.

May 15, 2025

Acquisitions Colorado Multifamily Western

Evergreen Devco Sells Outlook Table Mesa Multifamily Property in Wheat Ridge, Colorado for $97M

by Amy Works May 15, 2025

WHEAT RIDGE, COLO. — Evergreen Devco has completed the disposition of Outlook Table Mesa, an apartment community at 4051 Clear Creek Drive in Wheat Ridge. FJ Management acquired the asset for $97 million. Situated within Clear Creek Crossing, Outlook Table Mesa offers 250 apartments with quartz countertops, wood-looking floorings, oversized windows, tall ceilings, stainless steel kitchen appliances, full-size washers/dryers and designer selected lighting fixtures. Community amenities include a clubhouse with a business lounge, fitness center, electric vehicle charging stations and a secure mail room with package lockers and a dedicated space for oversized deliveries. Additional amenities include a resort-style pool with a swim-up bar and spa, fire pits, barbecue stations, a dog park, pet spa and multiple shade structures and game areas. Dave Martin and Brian Mooney of Northmarq’s Denver office negotiated the sale on behalf of Evergreen.

May 15, 2025

Acquisitions Multifamily Oregon Seniors Housing Western

Merrill Gardens Adds Three Seniors Housing Communities in Metro Portland

by Amy Works May 15, 2025

PORTLAND, ORE. — Merrill Gardens, a senior living owner and operator, has added three communities to its Oregon portfolio. Located in metro Portland, the properties include Merrill Gardens at Cedar Mill, Merrill Gardens at Sherwood and Merrill Gardens at Hillsboro. Merrill Gardens acquired the communities as part of a joint venture with PGIM. An ownership group led by Rembold sold the Cedar Mill and Sherwood properties. Built in 2016, Merrill Gardens at Cedar Mill in Portland totals 163,975 square feet with 147 independent living, assisted living and memory care units. Merrill Gardens at Sherwood, which is located in Sherwood, was built in 2019. The 147,657-square-foot community features 137 apartments with independent living, assisted living and memory care options. Pilar Properties, a sister company of Merrill Gardens that is part of the joint venture with PGIM, developed Merrill Gardens at Hillsboro in Hillsboro. Opened in 2024, the property encompasses 171,732 square feet with 141 independent living and assisted living units. Merrill Gardens will manage and operate each of the communities. The company’s portfolio now comprises 61 seniors housing properties across 16 states.

May 15, 2025

Acquisitions California Office Western

Bridges Capital Buys 83,871 SF Office Building in San Francisco’s Jackson Square

by Amy Works May 15, 2025

SAN FRANCISCO — Bridges Capital has acquired 1045 Sansome, an office property located in the Jackson Square submarket of San Francisco, for an undisclosed price. Kyle Kovac and Mike Taquino of CBRE represented the undisclosed seller in the deal. The four-story building offers 83,871 square feet of creative office space. The property was built in 1926 and has been substantially renovated with new windows, interior upgrades, a top-floor lounge and a roof deck. At the time of sale, the building was 64 percent leased to tenants in architecture, design and e-commerce industries.

May 15, 2025

Acquisitions Hawaii Retail Western

CBRE Brokers Sale of 79,000 SF Pacific Shopping Mall in West Oahu, Hawaii

by Amy Works May 15, 2025

NANAKULI, HAWAII — CBRE has arranged the acquisition of Pacific Shopping Mall, a fee simple, grocery-anchored shopping center in Nanakuli in West Oahu. The property traded for an undisclosed amount in an off-market transaction. Located at 87-2070 Farrington Highway, Pacific Shopping Mall offers 79,000 square feet of retail space that was 90 percent occupied at the time of sale. Current tenants include Foodland’s Sack N Save, McDonald’s, O’Reilly Auto Parts, Here Fuel and Subway. Nicholas Paulin and AJ Cordero of CBRE represented the private buyer in the acquisition.

May 15, 2025

Acquisitions Michigan Midwest Multifamily

Marcus & Millichap Brokers $9.7M Sale of Manufactured Housing Community in Port Huron, Michigan

by Kristin Harlow May 15, 2025

PORT HURON, MICH. — Marcus & Millichap has brokered the $9.7 million sale of Port of Call Manufactured Housing Community in eastern Michigan’s Port Huron. Developed in 1995, the community is licensed for 146 homesites, 143 of which are occupied. Of the homes, 112 are community owned and 31 are tenant owned. All utilities are public and individually metered, and the property features off-street parking, community lighting and a basketball court. Chase Gilewski and Marcus & Millichap represented the seller and procured the buyer. Luke Lamoreaux of Marcus & Millichap Capital Corp. arranged $7.2 million in acquisition financing through a national housing lender that specializes in manufactured, modular and mobile homes.

May 15, 2025

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