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Acquisitions

AcquisitionsAlabamaSoutheastStudent Housing

Tailwind Group Acquires 576-Bed Student Housing Community Near Auburn University

by John Nelson

AUBURN, ALA. — Tailwind Group has acquired The Beacon, a 576-bed student housing community located near the Auburn University campus in Alabama. Ryan Lang of Newmark brokered the acquisition of the property from an undisclosed seller. The sales price was not released. The garden-style community offers 180 units in two-, three- and four-bedroom configurations with bed-to-bath parity. Shared amenities include shuttle service to campus, a pet park, swimming pool, sundeck, outdoor grill station, 24-hour fitness center, outdoor fireplace, sand volleyball court, computer lab, study room, coffee bar and a package room. The new ownership plans to renovate the community this fall, with updates planned for the clubhouse as well as shared amenity spaces and the property’s exterior. The community will also be rebranded The Quarters Auburn.

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AcquisitionsAffordable HousingLouisianaMultifamilySoutheast

VPG Holdings, ASCP Purchase 250-Unit Affordable Housing Community in New Orleans

by John Nelson

NEW ORLEANS — VPG Holdings and American South Capital Partners (ASCP), which is a joint venture between SDS Capital Group and Vintage Realty Co., has acquired The Marquis, a 250-unit affordable housing community located at 2651 Poydras St. in New Orleans. The seller and sales price were not disclosed. The Marquis was built in 2009 and features a mix of one-, two-, three- and four-bedroom apartments, with most units reserved for tenants earning less than 60 percent of the area median income (AMI). VPG and ASCP plan to fund deferred maintenance and interior improvements at The Marquis, with the focus on implementing more energy and water efficient appliances including water heaters, dishwashers, refrigerators and air conditioners.

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AcquisitionsNorth CarolinaRestaurantRetailSoutheast

Marcus & Millichap Brokers Sale of New Restaurant in Franklin, North Carolina Leased to Starbucks

by John Nelson

FRANKLIN, N.C. — Taylor McMinn Retail Group, an Atlanta-based retail investment sales team within Marcus & Millichap, has brokered the sale of a newly constructed, single-tenant retail property located at 1352 Siler Road in Franklin. Starbucks Coffee occupies the building — which totals 2,500 square feet — on a 10-year corporate lease with rent increases. The Starbucks is shadow-anchored by the closest Walmart store to Highlands, a popular vacation destination in western North Carolina. Don McMinn of Taylor McMinn Retail represented the seller, a Georgia-based developer, in the all-cash, 1031 exchange. The out-of-state buyer and the sales price were not disclosed. “You can’t overemphasize the impact that price point has on pricing in today’s market,” says McMinn. “In some cases, price point is more critical than credit compared to where deals are trading and when.”

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AcquisitionsHospitalityTexas

Xenia Hotels & Resorts Sells Fairmont Dallas for $111M

by Taylor Williams

DALLAS — Xenia Hotels & Resorts (NYSE: XHR) has sold the 545-room Fairmont Dallas hotel for $111 million. The sales price equates to approximately $204,000 per room and represents a cap rate of 10 percent. The pet-friendly hotel, which opened in 1969, is located at 1717 N. Akard St. in the downtown area and offers both traditional guestrooms and suites. Amenities include a pool, meeting and event space and multiple onsite food-and-beverage options. The buyer was not disclosed. Xenia acquired the property in 2011 for $69 million.

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3040-Post-Oak-Houston
AcquisitionsOfficeTexas

Braun Enterprises Buys 426,000 SF Office Building in Houston’s Galleria District

by Taylor Williams

HOUSTON — Local investment firm Braun Enterprises has purchased 3040 Post Oak, a 426,000-square-foot office building in Houston’s Galleria district. The building is situated adjacent to the Galleria Mall and offers amenities such as a tenant lounge and grab-and-go market. Braun plans to implement a capital improvement program that will include the addition of a modern fitness center, a new coffee bar and comprehensive lobby and exterior upgrades. Stream Realty Partners leases and manages the building. The sales price was not disclosed.

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Home2-Suites-by-Hilton-El-Paso-Airport
AcquisitionsHospitalityTexas

Hunter Hotel Advisors Arranges Sale of 111-Room Hotel Near El Paso Airport

by Taylor Williams

EL PASO, TEXAS — Hunter Hotel Advisors, an Atlanta-based brokerage firm, has arranged the sale of the 111-room Home2 Suites by Hilton El Paso Airport hotel. The hotel is located less than two miles from El Paso International Airport and offers amenities such as a pool, fitness center and complimentary breakfast. Kami Burnette of Hunter Hotel Advisors represented the undisclosed seller in the transaction. The buyer was San Diego-based owner-operator Pacific Pearl Hotels.

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AcquisitionsFloridaIndustrialLoansSoutheast

DRA Advisors Provides $107.5M for Florida Industrial Portfolio Recapitalization With Redfearn Capital

by John Nelson

DELRAY BEACH, FLA. — DRA Advisors has provided $107.5 million for the recapitalization of an industrial portfolio in Florida owned by Redfearn Capital, a private equity firm based in Delray Beach. The portfolio includes 10 properties totaling more than 900,000 square feet in Jacksonville, South Florida, Clearwater and Orlando. Redfearn Capital originally established the portfolio in 2020 with investment partner TPG Angelo Gordon. Redfearn Capital and TPG Angelo Gordon will remain partners in two other joint venture funds. Mike Davis and Dominic Montazemi of Cushman & Wakefield represented Redfearn Capital in the transaction.

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AcquisitionsFloridaRetailSoutheast

Marcus & Millichap Brokers $5.7M Sale of Retail Property in Miami

by John Nelson

MIAMI — Marcus & Millichap has brokered the $5.7 million sale of Plaza 77 Shops, a 9,590-square foot retail strip center in Miami’s Dadeland neighborhood. Situated less than one mile from Dadeland Mall, the property is anchored by Trulieve and Domino’s Pizza, which both operate on corporate-guaranteed leases. Additional tenants at the center include Chase Bank, Outback Steakhouse, Anthony’s Coal Fired Pizza, Cancun Grill and Massage Envy, according to LoopNet. Drew Kristol and Kirk Olson of Marcus & Millichap’s Miami office represented the seller, an entity doing business as Plaza 77 Shops LLC, and procured the buyer, a local private investor, in the transaction.

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Soltra-Kierland-Scottsdale-AZ
AcquisitionsArizonaMultifamilyWestern

Leon Capital Group Sells Soltra Kierland Apartment Property in Scottsdale, Arizona for $107.5M

by Amy Works

SCOTTSDALE, ARIZ. — Leon Capital Group subsidiary Leon Multifamily has completed the disposition of Soltra Kierland, an apartment property in North Scottsdale, to a private investor for $107.5 million. Matt Pesch, Asher Gunter, Sean Cunningham and Austin Groen of CBRE represented the seller in the transaction, which represents the highest price per unit for a multifamily sale in metro Phoenix since 2022. Completed in 2024, Soltra Kierland offers 202 apartments with wood-style flooring, custom built-ins, full-size washers and dryers, walk-in closets, custom cabinetry, walk-in rain showers, stainless steel appliances, eat-in kitchen islands and quartz countertops. Select units offer quartz waterfall island countertops, black stainless steel appliances, gas stoves, an under-counter wine fridge, soaking tubs and floor-to-ceiling bifold patio doors. Community amenities include a pool, spa, sunning decks, fire features, barbecue grills, a corn hole grotto and an entertainment deck, as well as a resident clubhouse with two-story floor-to-ceiling windows and a retro-style speakeasy with beer taps. The property also features a two-story fitness center with cardio and weight training equipment and a yoga terrace; a Soltra cafe Wi-Fi lounge; an off-leash dog park; a climate-controlled dog lounge and pet spa; and electric vehicle charging stations.

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Skye-Apts-Seattle-WA
AcquisitionsMultifamilyWashingtonWestern

IPA Arranges Sale of 371-Unit Skye Multifamily Community in Seattle

by Amy Works

SEATTLE — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has directed the sale of Skye, an 18-story apartment property in Seattle’s Denny Triangle neighborhood. Terms of the transaction were not released. Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino of IPA represented the seller and procured the buyer. Built in 1949, Skye has undergone significant building upgrades over the past 10 years and all units were upgraded between 2014 and 2016. The property has a controlled-access parking garage, a rooftop terrace, fenced dog park, walking trails and green lawns. The community offers 371 studio, one- and two-bedroom apartments with new cabinets, quartz countertops, stainless steel or black appliances, and new plumbing and lighting fixtures. Skye also offers 13,300 square feet of ground-level retail space.

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