AUSTIN, TEXAS — Woodside Health, a private equity healthcare real estate firm based in Cleveland, has acquired Twelve Oaks Professional Center, a medical office complex in northwest Austin. The property consists of five buildings totaling 42,500 square feet on a five-acre site. Woodside purchased Twelve Oaks Professional Center with global investment management firm Heitman. The seller and sales price were not disclosed.
MIAMI — Northwind Group has provided a $98 million senior loan for the acquisition and redevelopment of 1250 West Ave., an existing 238-room condominium building located in Miami Beach. Terra is leading the project in partnership with JDS Development Group, Rafi Gibly and Gianluca Vacchi, which acquired more than 95 percent of the units at the property. The group plans to transform the property into a luxury condominium tower on Biscayne Bay, with new entitlements permitting development up to 330 feet in height, with an anticipated 100-unit residential program. Northwind Group originated the loan through its Northwind debt investment fund III. Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Michael Diaz and Sean Bastian of Walker & Dunlop arranged the financing on behalf of the borrower.
CHELMSFORD, MASS. — Newmark has brokered the $11.5 million sale of 1 Executive Drive, a 112,440-square-foot life sciences building located northwest of Boston in Chelmsford. The building was 87 percent leased at the time of sale, with AMETEK affiliate Spectro Scientific and semiconductor manufacturer Qorvo serving as the anchor tenants. Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell and William Sleeper of Newmark represented the seller, Boston-based Foxfield, in the transaction and procured the buyer, Rhino Capital Advisors. David Douvadjian Sr., Timothy O’Donnell, David Douvadjian Jr., Bobby Alvarado and Conor Reenstierna, also with Newmark, arranged acquisition financing on behalf of the buyer.
KENT, SEATTLE AND SHORELINE, WASH. — The Simon | Anderson Multifamily team at Kidder Mathews has completed the sale of a four-property apartment portfolio in the Seattle area. John Stephanus sold the four-property portfolio and used the proceeds to acquire The Postmark, a 243-unit multifamily community in Shoreline. The purchase was executed through a series of transactions that were previously announced in August. The portfolio includes the 108-unit Swiss Gables Apartments in Kent, the 67-unit Charbern Apartments in Seattle’s Capitol Hill, the 76-unit Stockbridge Apartments in Seattle’s First Hill and the 72-unit Carolina Court Apartments in Seattle’s South Lake Union. Delivered in 2020, The Postmark offers 243 studio, one-, two- and three-bedroom units with high-end finishes and modern layouts. Amenities include a fitness center, yoga studio, resident lounge, rooftop deck, package lockers, bike storage and secure parking. Dylan Simon, Jerrid Anderson, Matt Laird and JD Fuller of the Simon | Anderson Multifamily team at Kidder Mathews represented John Stephanus in the transactions.
TUCSON, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Casa Estrella del Norte, an apartment community in Tucson. Hamid Panahi, Clint Wadlund, Steve Gebing and Cliff David of IPA represented the seller and procured the buyer. Terms of the deal were not released. Built in 1959 on 7.4 acres, Casa Estrella del Norte features 196 studio and one-bedroom apartments spread across eight residential buildings and a standalone clubhouse.
SALIDA, COLO. — Prime Investment Properties has arranged the sale of Silver Ridge Lodge in Salida. An undisclosed California-based buyer acquired the motel for an undisclosed price. The recently renovated motel features 35 guest rooms, an owner’s quarters and a four-unit building dedicated to staff housing. Dan Emert of Prime Investment Properties and Hotel Brokers International represented the undisclosed seller and assisted the buyer in the transaction.
PHOENIX — Sword Industrial Partners has purchased Mountain Vista Commerce Center, a three-building industrial complex in Phoenix’s Southwest Valley. Sword Industrial Partners was formed by MAG Capital Partners and Scott Word to pursue multi-tenant infill industrial properties in the Western United States. Located at 14647 S. 50th St., the 135,000-square-foot Mountain Vista Commerce Center features 18-foot clear heights, 33 grade-level roll-up doors and flexible floor plates of varying bay depths. At the time of sale, the warehouse asset was fully leased to tenants in engineering, real estate and light manufacturing. Eric Wichterman, Chris Toci, Mike Coover, Will Strong, Phil Haenel, Foster Bundy, Molly Hunt, Jack Stamets and Madeline Warren of Cushman & Wakefield represented the seller, a Dallas-based private fund. Terms of the transaction were not released.
CHICAGO — Convexity Properties, the real estate development arm of DRW Holdings, has acquired a retail site in Chicago’s Gold Coast neighborhood for $39 million. Located at 1120 and 1130 N. State St., the two-story building was formerly occupied by Barnes & Noble and is currently home to Lou Malnati’s Pizzeria. Mid-America Real Estate Corp. represented Convexity in the acquisition and has been appointed to oversee all retail leasing efforts for the property. Convexity also owns the adjacent Viceroy Hotel at 1118 N. State St. While development plans for the newly acquired parcel have not yet been announced, the property is zoned for a 304-unit, 345-foot residential tower, which was approved by the city council in 2021.
CHICAGO — Interra Realty has arranged the $3.2 million sale of a 16-unit apartment building in Chicago’s West Ridge neighborhood. Constructed in 1931 and renovated in 2023, the property at 6254 N. Whipple St. features two-bedroom units. The building was fully occupied at the time of sale. Brad Feldman of Interra represented the buyer and seller, both of which were local private investors. Feldman also assisted the seller in the original $1.8 million acquisition of the asset in 2023. At that time, the property had not changed hands in more than 50 years and needed significant upgrades. The seller’s investment equated to a nearly $85,000 increase in price per unit and increased rents.
LOUISVILLE AND LEXINGTON, KY. — DMK Development Group has sold four senior living properties in Kentucky for a total $65.3 million. American Healthcare REIT was the buyer. Located in the Louisville and Lexington metros, the portfolio totals 316 units, with assisted living and memory care residences. Each of the properties was opened between 2020 and 2022. Trilogy Health Services managed the properties through lease-up and stabilization.