BAYONNE, N.J. — Marcus & Millichap has negotiated the $1.7 million sale of a 14-unit apartment building in Bayonne located at 1053-1057 Broadway. Jonathan Zamora of Marcus & Millichap’s New Jersey office represented the seller, a private investor, in the transaction. Brent Hyldahl, Ben Sgambati and Alan Cafiero of Marcus & Millichap’s New Jersey office represented the buyer, also a private investor. The property, which also includes an attached lot, is located in the uptown neighborhood of Bayonne.
ALLENTOWN, PA. — The Markward Group has arranged the sale of 211 Lloyd Street, an 18,086-square-foot industrial facility located on 2.26 acres in Allentown. The sales price was not disclosed. Chip Miers of Markward Group represented the seller, Kay Louise Krapf, in the transaction. The buyer, Serfass Development and Acquisitions, was represented by Ann Kline of Markward Group. The building has been in use as a truck terminal and service repair garage for Ransome CAT. Prior to the sale, the property was leased to ABLE Equipment Rental Inc. ABLE is a supplier of construction equipment rentals and plans to open the Lloyd Street facility in Allentown as its fifth location in the Northeast.
GREENWICH, CONN. — Allied Property Group has orchestrated the sale of a mixed-use building at 171-173 Greenwich Ave. in Greenwich for $6.5 million. The three-story property consists of a 3,700-square-foot retail storefront leased to Club Monaco and four apartment units. Thomas Torelli of Allied Property Group represented the undisclosed seller in the transaction and Matt Torrance of Cushman & Wakefield represented the buyer, Winter HPG.
SAN ANTONIO — ARA Newmark has brokered the sale of Ridgeline at Rogers Ranch, a newly built, 299-unit multifamily community located in northwest San Antonio. The property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, business center and a resident clubhouse. Pat Jones of ARA Newmark represented the seller, San Antonio-based Embrey Partners, in the transaction. Atlanta-based multifamily investment firm Benimax purchased the property for an undisclosed price.
SAN ANTONIO — Dallas-based Westmount Realty Capital LLC has acquired Three Fountains, a 272-unit multifamily community located in the Westover Hills area of San Antonio. Built in 1998, the property consists of 120 one-bedroom units, 120 two-bedroom units and 32 three-bedroom units. Westmount will rebrand the property as Westmount at Three Fountains. The company will also invest in capital improvements to the property’s lighting and plumbing systems, unit interiors and communal amenities, which include a pool, fitness center, on-site laundry facilities and a business center.
WYLIE, TEXAS — Transcontinental Realty Investors Inc. and its subsidiary, Adobe Properties, have opened Parc at Wylie, a 198-unit multifamily community in Wylie, a northeastern suburb of Dallas. The property consists of 13 three-story buildings and offers amenities such as a pool with a tanning deck, dog park, playground, fitness center and walking trails. The property, which also offers convenient access to two nearby lakes, was approximately 95 percent leased at its opening.
DALLAS — Chicago Pacific Founders (CPF), a private equity firm specializing in healthcare real estate, has acquired Churchill Estates, a 175-unit luxury seniors housing community in Dallas. The property, which will undergo a capital improvement plan, is located in the city’s Lake Highlands area. Amenities include a game and activity room, spa and salon, champagne lounge, library and an arts studio. The seller and sales price were not disclosed.
ELLICOTT CITY, MD. — Morgan Properties, in a joint venture with Core Real Estate Partners, has acquired Orchard Meadows in Ellicott City for $50 million. The 240-unit community, located roughly 16 miles west of Baltimore, was constructed in two phases in 1998 and 2012. The new ownership will invest $2 million to upgrade the property. Planned renovations included kitchen upgrades, an enhanced fitness center, new grilling area and fire pit and a refreshed clubhouse, leasing office and business center. In addition, the joint venture will add a putting green, outdoor gaming area, playground, exterior fitness stations, a dog park and package rooms. Orchard Meadows features a mix of one- and two-bedroom apartment units. The transaction marks Morgan Properties’ seventh acquisition in the Mid-Atlantic with Core Real Estate Partners since 2012.
ORLANDO, FLA. — Federal Capital Partners (FCP) has acquired Royal Isles, a 264-unit multifamily community in Orlando, for $23.6 million. The community includes a mix of one-, two- and three-bedroom units and features a 24-hour fitness center, swimming pool with sundeck, playground, picnic area with grills and an onsite laundry center. Evan Kristol and Felipe Echarte of Marcus & Millichap’s The Kristol Group arranged the transaction on behalf of the undisclosed seller. Berkadia arranged the assumption of the existing Fannie Mae mortgage.
OREM, UTAH — The Muller Co. and an affiliate of Cerberus Capital Management have acquired Canyon Park Technology Center, an office campus in Orem, for an undisclosed price. Built between 1988 and 1992, the 924,634-square-foot campus consists of 14 one-, two- and three-story buildings situated on 85 acres. The property features spaces ranging from 100 square feet to 60,000 square feet, and it was 54 percent leased at the time of sale. WordPerfect Corp. leases a portion of the campus for its headquarters. The buyers plan to upgrade the common areas and grounds with new lobbies, restrooms and tenant amenities, including a dedicated amenity center featuring a lounge and game room, café and gym facilities.