REBusinessOnline

Avanti Residential Acquires Forum Fitzsimons Apartment Complex in Metro Denver for $159M

AURORA, COLO. — Denver-based Avanti Residential has purchased Forum Fitzsimons, a Class A apartment community in Aurora. An undisclosed seller sold the property for $159 million.Located at Interstate 225 and Colfax Avenue, Forum Fitzsimons features 397 apartments, 28,202 square feet of retail space and a full amenity package for residents. Community amenities include two swimming pools, a 24-hour fitness center, bike repair shop and storage, three event clubrooms, and a dog washing area …

Macerich Co. Sells La Encantada Lifestyle Center in Tucson for $165.2M

TUCSON, ARIZ. — Macerich Co. has completed the disposition of La Encantada, an open-air lifestyle center in Tucson. A group of local investors acquired the property for $165.2 million. JLL Capital Markets arranged a $102 million acquisition loan for the buyer.Completed in 2003, La Encantada offers 246,256 square feet of retail space. At the time of sale, the property was 93 percent leased. Current tenants include Crate & Barrel, Tiffany & Co., West Elm, Anthropologie, Athleta, …

Stratus Properties Agrees to Sell Santal Apartments in Austin for $152M

AUSTIN, TEXAS — Locally based REIT Stratus Properties has entered into an agreement to sell The Santal, a 448-unit apartment community in Austin’s Barton Creek neighborhood, for $152 million. The sales price equates to roughly $339,000 per unit. The property, which was fully occupied at the time of sale, was constructed in phases between 2015 and 2019. Units feature one-, two- and three-bedroom floor plans and are furnished with hardwood floors, quartz countertops, stainless steel …

Invesco Real Estate Divests of 186,231 SF Office Property in Broomfield, Colorado for $59.1M

BROOMFIELD, COLO. — Invesco Real Estate has completed the disposition of 105 Edgeview, a Class A office asset in Broomfield. An undisclosed buyer acquired the property for $59.1 million.John Jugl and John Gustafson of Newmark represented the seller in the transaction.Completed in 2012, 105 Edgeview features 186,231 square feet of office space within Interlocken Advanced Technology Environment. The property is fully leased to eight tenants with Gogo Inc., a global aero-communications …

29th Street Capital Acquires 362-Unit San Cierra Apartments in Northwest Houston

HOUSTON — Chicago-based 29th Street Capital has acquired San Cierra Apartments, a 362-unit multifamily community located in the Cypresswood neighborhood in northwest Houston. Built in 2008, the property features one-, two- and three-bedroom apartments with nickel fixtures and hardware, individual washers and dryers, granite countertops and island kitchens. Communal amenities include a resort-style pool, fitness center, theater room, business center, children’s play area, a coffee bar and …

Colliers Brokers $16.3M Sale of Mobile Home Community in Springfield, Illinois

SPRINGFIELD, ILL. — Colliers International has brokered the sale of Woodland Acres Mobile Home Community in Springfield for $16.3 million. Totaling 231 units on more than 50 acres, the property is located at 3500 N. Dirksen Parkway. The community is 94 percent occupied with average rents of $373 per month. Michael Nissley of Colliers represented the seller, Ronald Coleman. Flagship Communities REIT was the buyer. The purchase marks Flagship’s entrance into the Illinois

Interra Realty Negotiates $14.8M Sale of Chicago Multifamily Building

CHICAGO — Interra Realty has negotiated the sale of 2827-47 N. Clybourn Ave. in Chicago’s Lakeview neighborhood for $14.8 million. The building includes 30 apartment units and six commercial spaces on the ground floor. The apartment units were fully occupied at the time of sale. Of the six commercial spaces, two are rented as offices, two are occupied by resident gyms and two are vacant. Brad Feldman of Interra represented the buyer, a local private investor who plans to rent out the vacant …

LJ Mainstreet Holdings Buys Grand Village Center Retail Property in Surprise, Arizona for $5M

SURPRISE, ARIZ. — Boros Investments has completed the disposition of Grand Village Center, a retail property located at 14273 and 14291 W. Grand Ave. in Surprise. LJ Mainstreet Holdings acquired the asset for $5 million.The 25,653-square-foot Grand Village Center is fully leased to eight tenants, including Church for the Nations, Zona Communications, D’Ambrosio, Full Service Salon and Master Taco Restaurant.The buyer also acquired two adjacent undeveloped land parcels from a …

Local Developer Buys Land for 104,440 SF Industrial Project in Mansfield, Texas

MANSFIELD, TEXAS — A local developer doing business as Industrial Reserve LLC has acquired 14 acres in the southern Fort Worth suburb of Mansfield for a 104,440-square-foot industrial project. Mansfield Commerce Park will be a six-building development with single-story structures with ample outside storage space. Josh Meraz and Michael Spain of Bradford Commercial Real Estate Partners represented the seller, Trinity Forge Inc., which operates a machine and die shop at the site, in the sale of …

JLL Negotiates $35.5M Sale of Metro Boston Office Building

SOMERVILLE, MASS. — JLL has negotiated the $35.5 million sale of a 58,156-square-foot office building in the Boston suburb of Somerville. The three-story building was originally constructed in 1870 and was fully leased to FormLabs, a manufacturer of 3-D printing products and technology, at the time of sale. Coleman Benedict and Scott Carpenter of JLL represented the seller, funds advised by a subsidiary of Columbia Property Trust, in the transaction. The duo also procured the buyer, a …

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