Acquisitions

Berkadia Negotiates Sale of 288-Unit 198 Milltown Apartments in Burlington, North Carolina

by John Nelson March 25, 2025

BURLINGTON, N.C. — Berkadia has negotiated the sale of 198 Milltown Apartments, a 288-unit community located at 198 Milltown St. in Burlington, a city in North Carolina’s Piedmont Triad region. A fund sponsored by Birmingham, Ala.-based StoneRiver Co., StoneRiver Investment Fund III, purchased the Class A community from Wilmington, N.C.-based Zimmer Development Co. for an undisclosed price. Caleb Troop and Thomas Colaiezzi of Berkadia’s Charlotte office represented the seller in the transaction. Built in 2020, 198 Milltown features one-, two- and three-bedroom apartments ranging in size from 700 to more than 1,200 square feet. Amenities include a 24-hour health club and resident lounge, pet spa and pet park, saltwater swimming pool, outdoor social lounge and grill area, Amazon package lockers, playground, a car care center and garages.

March 25, 2025

Acquisitions California Multifamily Western

Brixton Capital Sells 227-Unit Apartment Community in Moreno Valley, California

by Amy Works March 25, 2025

MORENO VALLEY, CALIF. — Brixton Capital has completed the disposition of Elevate at Towngate, a multifamily property in Moreno Valley. San Francisco-based FPA Multifamily acquired the asset for $41 million. Brixton Capital originally acquired the property in December 2017 for $28 million, rebranded and renovated the asset. Built in 1973, Elevate at Towngate offers 227 units spread across seven residential buildings. The one-, two- and three-bedroom apartments range from 590 square feet to 1,224 square feet. Chelsea Jervis, CJ Angle and Blake Rodgers of JLL represented Brixton, while the buyer was self-represented in the deal.

March 25, 2025

Acquisitions Industrial Washington Western

Kennedy Wilson Buys 204,458 SF Auburn Park 44 Distribution Facility in Metro Seattle

by Amy Works March 25, 2025

AUBURN, WASH. — Kennedy Wilson has acquired Auburn Park 44, a multi-tenant industrial and distribution building on more than 9 acres in Auburn, a suburb 30 miles south of Seattle. A global investor advisor sold the property for an undisclosed price. Located at 814 44th St., the 204,458-square-foot Auburn Park 44 features 24-foot to 30-foot clear heights, ESFR sprinklers, heavy power, ample dock-high and grade-level loading and abundant auto parking. Jeff Chiate, Matthew Leupold, Bryce Aberg, Rick Ellison and Aubrie Monahan of Cushman & Wakefield’s National Industrial Group – West represented the seller in the deal. Cushman & Wakefield’s Patrick Mullin and CBRE’s Andrew Hitchcock provided local leasing advisory in the transaction. Keith Padien and Max Schafer of Cushman & Wakefield Equity, Debt & Structured Finance arranged acquisition financing for Kennedy Wilson.

March 25, 2025

Acquisitions Multifamily New Jersey Northeast

Redwood Realty Advisors Arranges $7.8M Sale of Apartment Building in Belleville, New Jersey

by Taylor Williams March 25, 2025

BELLEVILLE, N.J. — Locally based brokerage firm Redwood Realty Advisors has arranged the $7.8 million sale of Twin River Gardens, a 60-unit apartment building in the Northern New Jersey community of Belleville. The property exclusively offers one-bedroom units with an average size of 825 square feet, and most residences include private balconies. Residents also have access to onsite laundry facilities. Kevin McCrann and James McConnell of Redwood represented the buyer and seller, both of which requested anonymity, in the transaction.

March 25, 2025

Acquisitions California Office Retail Western

NorthStar Homes Acquires Canon Street Marina Center in San Diego for $8.2M

by Amy Works March 25, 2025

SAN DIEGO — NorthStar Homes has purchased Canon Street Marina Center, a retail and office center in San Diego’s Point Loma Village submarket, from Canon Street Properties for $8.2 million. The transaction includes two adjacent properties located at 2810-2832 Cañon St. and and 1101-1111 Scott St. At the time of sale, the property was fully leased to nine tenants. Kyle Clark of Intersection CRE represented the seller, while Joe Virgilio of Strom Commercial represented the buyer in the deal.

March 25, 2025

Acquisitions California Retail Western

Marcus & Millichap Negotiates Sale of Atlantic & Slauson Shopping Center in Maywood, California

by Amy Works March 25, 2025

MAYWOOD, CALIF. — Marcus & Millichap has arranged the sale of Atlantic & Slauson Shopping Center in Maywood. A private seller sold the asset to a private investor for undisclosed price. The 17,610-square-foot Atlantic & Slauson Shopping Center is located at 5900 Atlantic Blvd. Ron Duong of Marcus & Millichap represented the seller and buyer in the deal.

March 25, 2025

Acquisitions Midwest Ohio Retail

American Commercial Realty Buys Seven Retail Centers in Columbus, Ohio

by Kristin Harlow March 25, 2025

COLUMBUS, OHIO — American Commercial Realty (ACR) has purchased seven retail centers in Columbus totaling approximately 215,000 square feet. There are five centers on and near the “Main Street” corridor east of downtown and two properties along the Dublin-Granville corridor in the city’s northeast side. The assets include Village Centre, Beechcroft Centre, Main Hamilton Center, 5156 E Main St Centre, Wyandotte Centre and McNaughten Center. ACR also unveiled that Marx Bagels, a kosher bagel bakery from Cincinnati with roots in the Columbus market, will be taking over the space at McNaughten Center long occupied by Block’s Bagels. Palm Beach Gardens, Fla.-based ACR owns and operates more than 2.5 million square feet of commercial properties in addition to a multifamily portfolio. The portfolio marks the company’s first Columbus acquisition.

March 25, 2025

Acquisitions Hospitality Indiana Midwest

Bradford Allen Acquires 130-Room SpringHill Suites Indianapolis Fishers Hotel

by Kristin Harlow March 25, 2025

FISHERS, IND. — Bradford Allen has acquired the SpringHill Suites Indianapolis Fishers hotel, a 130-room select-service hotel located adjacent to the new Cadillac Formula 1 headquarters, which is being developed by Bradford Allen. The purchase price was undisclosed. Located near I-69 in the Indianapolis North Loop submarket, the hotel is less than three miles from the new Fishers Event Center and within 20 miles of the Indianapolis Motor Speedway. Opened in 2007 and renovated in 2016, the property features an indoor pool, meeting room, convenience store, fitness center, laundry room, complimentary breakfast buffet and complimentary onsite parking. Since launching its hospitality platform in 2022, Bradford Allen has acquired seven hotels totaling about 900 rooms.

March 25, 2025

Acquisitions Florida Retail Southeast

Prudent Growth Partners Buys Retail Center in Gainesville, Florida for $5.2M

by John Nelson March 25, 2025

GAINESVILLE, FLA. — Prudent Growth Partners LLC, a private equity firm based in Chapel Hill, N.C., has purchased SouthGate Centre, a 24,025-square-foot retail center in Gainesville. The undisclosed seller sold the property for approximately $5.2 million. Built in 1989 within 1.5 miles from the University of Florida, SouthGate Centre was leased to 13 lifestyle and service retailers at the time of sale.

March 25, 2025

Acquisitions Arizona Retail Western

Winterhaven Investors Buys 35,300 SF Retail Center in Tucson

by Amy Works March 24, 2025

TUCSON, ARIZ. — Winterhaven Investors LLC has acquired Winterhaven Square, a retail center in Tucson, from Glover Associates LP for $5.3 million. Located at 3102-3160 E. Fort Lowell Road, Winterhaven Square offers 35,300 square feet of retail space. Greg Furrier, Rob Tomlinson and Natalie Furrier of Cushman & Wakefield | PICOR handled the transaction.

March 24, 2025

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