MADISON, WIS. — Apple Hospitality REIT Inc. has acquired the 262-room Embassy Suites by Hilton Madison Downtown hotel for $79.5 million. The seller was undisclosed. The newly built property is located at 231 S. Pinckney St. near Monona Terrace Community and Convention Center as well as the Wisconsin State Capitol. Apple’s portfolio includes 224 hotels with 30,066 guest rooms throughout 37 states and Washington, D.C.
JANESVILLE, WIS. — Colliers has brokered the $3.4 million sale of a 5,500-square-foot retail property in the Milwaukee suburb of Janesville. Home to Starbucks and LensCrafters, the newly constructed building serves as an outlot to Uptown Janesville Mall. Adam Connor and Heather Dorfler of Colliers represented the seller, Houston-based RockStep Capital. The all-cash buyer was based in California and completed a 1031 exchange.
SPARTANBURG, S.C. — Reedy River Retail at SVN Blackstream has brokered the sale of Westgate Mall, a 431,306-square-foot retail property located in Spartanburg. Namdar Realty acquired the mall for roughly $15 million. Belk, Dillard’s, JCPenney and Costco anchor the property, which is situated on 52 acres. Dustin Tenney and Daniel Holloway of Reedy River Retail arranged the transaction.
JACKSONVILLE, FLA. — JLL Capital Markets has negotiated the sale of two industrial buildings totaling 423,056 square feet in Jacksonville. Bixby Land Cos. sold the properties, Crossroads Distribution Center Buildings 100 and 200, for an undisclosed price. The buildings were fully leased at the time of sale. Luis Castillo, Cody Brais, Britton Burdette, Luke Pope and Taylor Osborne of JLL represented the seller in the transaction. The buyer was not disclosed.
ELIZABETHTOWN, KY. — Matthews Real Estate Investment Services has brokered the $4.9 million sale of Vaughan Village Apartments, a multifamily community located at 100 Crimson Creek Drive in Elizabethtown, approximately 45 miles south of Louisville. Built in 1996, the property comprises 48 duplex-style units situated on nine acres. Ellie Funk, Austin Tomaiko and Austin Graham of Matthews represented the undisclosed seller in the transaction. The undisclosed buyer assumed an existing HUD loan as part of the acquisition.
CLUTE, TEXAS — Self-storage brokerage firm Versal has arranged the sale of Affordable Storage, a 440-unit facility in Clute, about 60 miles south of Houston. The facility spans 46,785 net rentable square feet. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller, New Hampshire-based Fab Legacy LLC, in the transaction. The team also procured the buyer, Miami-based LAGO Properties LLC. The sales price was not disclosed.
CYPRESS, TEXAS — Colliers has brokered the sale of Barker Cypress Distribution Center, a 142,100-square-foot industrial building located on the northwestern outskirts of Houston. The building sits on 12 acres and features 32-foot clear heights, 3,574 square feet of office space and parking for 124 cars and 25 trailers. At the time of sale, Barker Cypress Distribution Center was fully leased to building materials supplier 84 Lumber. Lizzy Blake led the Colliers team that represented the seller, Molto Properties, in the transaction and procured a California-based limited liability company as the buyer.
MOUNT LAUREL, N.J. — Colony Hills Capital has acquired Mount Laurel Crossing, a 296-unit apartment community in Southern New Jersey, for $79 million. The 14-building property was originally constructed in 1999 and offers one-, two- and three-bedroom units with an average size of 944 square feet. Amenities include a pool, fitness center, clubhouse, dog park and an outdoor lounge. Mount Laurel Crossing was 98 percent occupied at the time of sale. John Alascio, Alex Hernandez, Aaron Graves and John Spreitzer of Cushman & Wakefield arranged equity investments with Heitman (preferred) and Balfour Beatty Communities (common) on behalf of Colony Hills Capital. Fran Coyne, Carl Fiebig, Jose Cruz, Mike Oliver, Samantha Kupersmith and Tyler Margraf of JLL represented the undisclosed seller in the transaction.
DUBLIN, CALIF. — Cityview has acquired Tralee Village Apartments, a multifamily property located at 6599 Dublin Blvd. in the East Bay city of Dublin. The price and seller were not disclosed. The three-story property offers 130 apartments and more than 30,000 square feet of ground-floor retail space, including eateries and service-focused shops. Originally built in 2011, the community offers one-, two- and three-bedroom floorplans featuring open-concept layouts, in-unit washers/dryers, granite countertops, USB outlet ports, modern custom-wood cabinetry in two styles, central heat and air, large closets, nine-foot ceiling heights and stainless steel appliances. Select units also feature vaulted ceilings, floor-to-ceiling windows and large balconies. Community amenities include ground-floor retail space, a resort-style pool and spa, high-end fitness center, clubhouse, business center, courtyard and barbecue areas, playground, parcel lockers, bike storage and ample garage parking. Cityview plans to implement a comprehensive renovation program for the community, including new unit flooring, lighting, kitchen and bathroom countertops and accessories. Jason Parr of Berkadia brokered the transaction. Westhome, an affiliate of Cityview, will serve as the property manager.
HENDERSON, NEV. — Colliers has negotiated the purchase of The Henderson Gateway Industrial Facility in Henderson, a suburb southeast of Las Vegas. An undisclosed buyer acquired the asset for $27.8 million. The name of the seller was not released. Brian Riffel and Tyler Jones of Colliers represented the buyer in the transaction. Located at 1735 Chaparral Road, the 98,023-square-foot property features 11 dock loading doors, two grade-access doors, an ESFR fire suppression system with a diesel pump, 91 surface parking spaces and 2,530 square feet of HVAC office space.
