Acquisitions

Vanbarton Group Acquires 21-Story Office Tower in San Francisco

by Kristin Harlow June 29, 2018

SAN FRANCISCO — Vanbarton Group LLC has acquired 101 Mission Street in San Francisco. The 206,455-square-foot, 21-story office tower is located in the heart of the South Financial Transbay District. The Class A property is currently 86 percent leased to tenants such as Wells Fargo, Forbes and Pearson. Although the price was not disclosed, Vanbarton received a $116.5 million acquisition loan for the transaction. The building, which is LEED Gold-certified by the U.S. Green Building Council, features views of the San Francisco Bay, column-free office space and 10,500-square-foot floor plates. Services and amenities include on-site property management, 24-hour security, a conference room and building shower. HKS Architects Inc. designed the property. JLL is the leasing agent. Gerry Rohm, Michael Leggett, David Dokko, Ben Bullock and Thomas Foley of HFF represented the undisclosed seller. Peter Smyslowski of HFF arranged acquisition financing. Vanbarton Group is a privately owned real estate investment and advisory firm with corporate offices in New York City and San Francisco. — Kristin Hiller

June 29, 2018

Acquisitions Multifamily New Jersey Northeast

Gebroe-Hammer Negotiates $32.1M Sale of Apartment Community in Southwest New Jersey

by David Cohen June 28, 2018

LINDENWOLD, N.J. — Gebroe-Hammer Associates has negotiated the $32.1 million sale of Woodland Village, a 546-unit, garden-style apartment community located at 401 E. Gibbsboro Rd., in Lindenwold. The property is approximately 16 miles southeast of Philadelphia. Built in 1970, the community features a mix of one- and two-bedroom layouts. Eli Rosen and Eli Herskowitz represented the seller, Odin Properties, in the transaction. The buyer was a private investor. Amenities at the property include newly renovated kitchens and separate dining rooms, bay windows, tennis courts and nearby shopping, dining and entertainment.

June 28, 2018

Acquisitions Multifamily New Jersey Northeast Seniors Housing

Sitar Realty Brokers $2.2M Sale of Apartment Building for Seniors in New Jersey

by David Cohen June 28, 2018

WALL TOWNSHIP, N.J. — Sitar Realty Co. has brokered the $2.2 million sale of 2538 Belmar Boulevard, a 27-unit apartment building designated for seniors in Wall Township. Robert JanTausch and Ronald Schrader Jr. of Sitar represented the seller, the original developer, in the all-cash transaction. They also represented the undisclosed buyer. The two-story building was built in 1992 and is currently deed restricted for senior citizens. The property is being rebranded as Allaire Apartment Homes after interior renovations are completed.

June 28, 2018

Acquisitions Multifamily New York Northeast

Besen Orchestrates Sale of Apartment Building in Brooklyn for $14.4M

by David Cohen June 28, 2018

NEW YORK CITY — Besen & Associates has orchestrated the sale of 140 Clarkson Ave., a 59-unit, 69,500-square-foot apartment building in Brooklyn’s East Flatbush neighborhood. The final sales price was $14.4 million. Built in 1931, the property is an early Art Deco, six-story building that is 100 percent rent stabilized, with under-market rents. Besen represented the private seller in the transaction, which had owned the property for more than 50 years. The property was purchased by a global real estate fund.

June 28, 2018

Acquisitions Industrial New York Northeast

Cushman & Wakefield Arranges Sale of Industrial Facility in Long Island City for $5.1M

by David Cohen June 28, 2018

NEW YORK CITY — Cushman & Wakefield has arranged the sale of a 9,700-square-foot, two-story warehouse located at 43-05 35th St. in Long Island City. The final closing price was $5.1 million, or $526 per square foot. Stephen R. Preuss, Andreas Efthymiou of Cushman & Wakefield represented seller, Ehrenbell Realty Corp., in the transaction. Greiner-Maltz represented the buyer, Skytron Holdings. The property is made up of warehouse, office and mezzanine space and features 19-foot ceiling heights as well as two roll up gates.

June 28, 2018

Acquisitions Industrial Texas

Fort Capital Acquires 603,795 SF Industrial Building in Metro Dallas

by Taylor Williams June 28, 2018

GARLAND, TEXAS — Fort Worth-based investment firm Fort Capital has acquired 4040 Forest Lane, a 603,795-square-foot industrial building in Garland, a northeastern suburb of Dallas. The Class B property was built in 1960 and is designed to house manufacturing tenants. The seller was not disclosed. With this acquisition, Fort Capital now owns and operates more than 1.1 million square feet of industrial space.

June 28, 2018

Acquisitions Office Texas

HFF Arranges Sale of 375,440 SF Office Building in Houston CBD

by Taylor Williams June 28, 2018

HOUSTON — HFF has arranged the sale of 1001 McKinney, a 375,440-square-foot office building in Houston’s CBD. The 23-story, transit-oriented property was built in 1947 and features an on-site conference facility and a bike room with showers. The property was roughly 76 percent leased at the time of sale. Dan Miller, Marty Hogan and Johnny Kight of HFF represented the seller, a partnership between Houston-based Cameron Management and New York-based Silverpeak Real Estate Partners. The team also procured the buyer, a partnership between TRC Capital Partners LLC and Amstar America LLC.

June 28, 2018

Acquisitions Multifamily Student Housing Texas

PAC Purchases 556-Bed Student Housing Community in Lubbock

by Taylor Williams June 28, 2018

LUBBOCK, TEXAS — Atlanta-based REIT Preferred Apartment Communities Inc. (PAC) has purchased The Bloc, a student housing community serving Texas Tech University in Lubbock. The property totals 556 beds across 140 units. Amenities include a rooftop lounge, pool with cabanas, tanning rooms, outdoor grilling areas, fitness center, coffee bar and private study rooms. The seller was not disclosed.

June 28, 2018

Acquisitions Florida Multifamily Southeast

ARA Newmark Arranges $43.9M Sale of Apartment Community in Palm Beach County

by Camren Skelton June 28, 2018

BOYNTON BEACH, FLA. — ARA Newmark has arranged the $43.9 million sale of Aventine at Boynton Beach, a 216-unit apartment community in Boynton Beach, a city in Palm Beach County. Avery Klann, Hampton Beebe and Jonathan Senn of ARA Newmark arranged the transaction on behalf of the seller, Massachusetts-based Claremont Cos. Tampa-based Robbins Property Associates acquired the asset. Constructed in 2002, Aventine at Boynton Beach includes a mix of one-, two- and three-bedroom units and features a fitness center, resort-style pool, car care center and barbecue and picnic areas. The new ownership plans to upgrade unit interiors and enhance the community’s amenity package.

June 28, 2018

Acquisitions North Carolina Office Southeast

RealOp Investments Acquires Seven-Building Office Portfolio in Triangle for $30.6M

by John Nelson June 28, 2018

RALEIGH, N.C. — RealOp Investments has purchased a seven-building office portfolio spanning more than 223,000 square feet in the Raleigh-Durham area. The Greenville, S.C.-based investor purchased the portfolio from Sun Life Assurance Co. of Canada, a subsidiary of Sun Life Financial, for $30.6 million. The properties in the sold portfolio include RDU Center I, a 60,083-square-foot office building located near Raleigh-Durham International Airport; Horizon I, II and IV, three office assets located along Six Forks Road in north Raleigh spanning 105,747 square feet; and Franklin Park, a three-building brick campus in Chapel Hill totaling 57,288 square feet. Blake Thomas and Grant Linderman of Avison Young’s Raleigh-Durham office represented the seller in the transaction. RealOp Investments has tapped Arnold Siegmund and Carlo DiGiorgio of Avison Young to provide leasing services for the portfolio.

June 28, 2018

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