Tuesday, July 7, 2026
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Acquisitions

25-on-Fifth-San-Diego-CA
AcquisitionsCaliforniaMultifamilyWestern

Next Space Development Buys Apartment Complex in San Diego for $14.5M

by Amy Works

SAN DIEGO — Next Space Development Realty, a residential and multifamily development company, has purchased 25 on Fifth, an apartment complex, for $14.5 million. Located at 3265 Fifth Ave. in San Diego, the property features 25 apartment units. Mayfair initially developed the building in 2007 but lost the property to Bank of America in the 2008 recession. Pacifica Cos. provided acquisition equity for the transaction. Eric Comer, Jim Neil and Merrick Matricardi of Kidder Mathews represented the buyer in the deal.

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AcquisitionsColoradoIndustrialWestern

Eight O One Acquires 60,468 SF Industrial Property in Denver for $7.6M

by Amy Works

DENVER — Eight O One LLC has purchased an industrial property located at 620 E. 52nd Ave. in Denver. TC Crossroads #7 LLC sold the property for $7.6 million. The property features 60,468 square feet of industrial space. Mike Wafer, Timothy D’Angelo and Mike Wafer Jr. of Newmark Knight Frank represented the seller in the deal.

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Discovery-at-Mandolin-Apartments-Houston
AcquisitionsMultifamilyTexas

Praedium Group Acquires 260-Unit Multifamily Asset in Houston

by Taylor Williams

HOUSTON — The Praedium Group, a New York-based investment firm, has acquired Discovery at Mandolin Apartments, a 260-unit multifamily asset in Houston. Built in 2009, the property consists of one-, two- and three-bedroom units averaging 972 square feet per unit. Amenities include a pool, fitness center, clubhouse, outdoor grilling area and a dog park. The seller was not disclosed.

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Bexley-Central-Park-Grand-Prairie-Texas
AcquisitionsMultifamilyTexas

IPA Arranges Sale of 249-Unit Apartment Property in Metro Dallas

by Taylor Williams

GRAND PRAIRIE, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Villas Central Park, a 249-unit multifamily property located in the Dallas metro of Grand Prairie. Built in 2016, the property features a pool, fitness center, dog park, grilling areas, coffee bar and a game room. Will Balthrope, Drew Kile and Joey Tumminello of IPA represented the seller, Texas-based Carleton Residential Properties and M.R. Development. The team also procured the buyer, Virginia-based Weinstein Properties, which has since rebranded the asset as Bexley Central Park.

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Landmark-at-Conroe-Conroe-Texas
AcquisitionsMultifamilyTexas

Hilltop Acquires 200-Unit Apartment Community in Conroe, Texas

by Taylor Williams

CONROE, TEXAS — Houston-based Hilltop Residential has acquired Landmark of Conroe, a 200-unit multifamily community in Conroe, about 45 miles north of downtown Houston. The property consists of one-, two- and three-bedroom units averaging 1,159 square feet. Amenities include a pool, basketball and tennis courts, picnic areas, fitness center and a clubhouse. Cortney Cole and Jett Lucia of HFF arranged a seven-year acquisition loan with a fixed interest rate of 4.57 percent for the transaction.

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AcquisitionsNew JerseyNortheastRestaurantRetail

Marcus & Millichap Brokers $3.1M Sale of Net-Leased Texas Roadhouse Location in New Jersey

by David Cohen

HOWELL, N.J. — Marcus & Millichap has brokered the $3.1 million sale of a net-leased Texas Roadhouse restaurant located at 5309 US Highway 9 in Howell. Karly Iacono of Marcus & Millichap’s National Retail Group represented the seller, a developer, in the transaction. Marcus & Millichap also represented the buyer, a private client executing a 1031 exchange. The property is subject to a 15-year ground lease with Texas Roadhouse. Nearby retailers include Lowe’s, Target, LA Fitness, ShopRite and Hobby Lobby.

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AcquisitionsIndustrialNew JerseyNortheast

Seagis Property Group Acquires 80,000 SF Industrial Facility in Northern New Jersey

by David Cohen

SEACAUCUS, N.J. — Seagis Property Group has acquired an 80,000-square-foot warehouse and distribution facility at 350 Seacaucus Road in Secaucus. The property is located approximately six miles from Manhattan and 12 miles from Port Newark. The fully leased building features 11 tailgate dock doors and 21-foot clear heights. Seagis now owns 27 buildings totaling more than 4.3 million square feet throughout Northern New Jersey.

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AcquisitionsFloridaMultifamilySoutheast

Pollack Shores Sells 400-Unit Apartment Community in Tampa for $82M

by John Nelson

TAMPA, FLA. — Pollack Shores has sold Lexington Park at Westchase, a 400-unit apartment community in Tampa. The Tampa Bay Business Journal reports the Atlanta-based developer and owner sold the asset to Greystar for $82 million. Walker & Dunlop arranged the transaction. Pollack Shores originally acquired the asset in 2015 and invested $7 million in renovations. The project included the renovation of 50 percent of the residential units and upgrades to exterior elements. Lexington Park at Westchase is located adjacent to a Publix-anchored shopping center and features a swimming pool, business center, playground, clubhouse, movie theater and social room.

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AcquisitionsIndustrialNorth CarolinaSoutheast

HFF Brokers $39.8M Sale of Four-Building Industrial Portfolio in Charlotte, Durham

by John Nelson

CHARLOTTE AND DURHAM, N.C. — HFF has brokered the sale of a four-building industrial portfolio totaling 681,346 square feet in Charlotte and Durham. A joint venture between Trinity Capital Advisors and SilverCap Partners sold the buildings to Rialto Capital Management. The sales price was not disclosed, but the Charlotte Business Journal reports the portfolio sold for $39.8 million. Chris Norvell and Patrick Nally of HFF arranged the transaction on behalf of the sellers. In Charlotte, the sold portfolio includes a two-building facility located at 1001 Bond St. The property is less than one mile from the North Carolina State Port Authority and the CSX Intermodal Terminal, the only CSX intermodal terminal in North Carolina. The Durham buildings are located at 2710 and 2910 Weck Drive. The facilities are located within the Research Triangle Park submarket and are fully leased to two tenants.

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AcquisitionsHospitalitySoutheastVirginia

Lingerfelt, JDI Realty Acquire Hotel in Virginia Beach; Plan Renovation, Rebranding

by John Nelson

VIRGINIA BEACH, VA. — Lingerfelt CommonWealth Partners LLC, in a joint venture with JDI Realty LLC, has acquired the Virginia Beach Resort Hotel & Conference Center for $19 million. The hotel is situated on the Chesapeake Bay at 2800 Shore Drive. The name of the seller was not disclosed. The new ownership will invest $25 million to renovate the property, rebranding it as a Delta Hotel by Marriott — Virginia Beach Bayfront Suites. Delta Hotels is designed for business and leisure travelers and currently has more than 50 operating hotels across the United States, Canada and China. Commonwealth Lodging Management, Lingerfelt’s hotel management affiliate, will operate the hotel as the Virginia Beach Resort & Conference Center until the renovation commences in the fourth quarter.

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