Acquisitions

Marcus & Millichap Negotiates $4.5M Sale of Central Park Apartments in Racine, Wisconsin

by Kristin Harlow January 21, 2025

RACINE, WIS. — Marcus & Millichap has negotiated the $4.5 million sale of Central Park Apartments in Racine. The 48-unit multifamily property is a low-income housing tax credit community that was built in 1967 and renovated from 2013 to 2015. There are 48 two-bedroom units across 45,600 rentable square feet. Eric Bell and Jordan Callaway of Marcus & Millichap represented the seller, a private investor group, and procured the buyer, a private investor. The buyer assumed the in-place Freddie Mac loan, which features an interest rate of 3.07 percent.

January 21, 2025

Acquisitions Multifamily Texas

IPA Brokers Sale of 550-Unit Monterra Village Apartments in North Fort Worth

by Taylor Williams January 20, 2025

FORT WORTH, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Monterra Village, a 550-unit apartment community in North Fort Worth. The property was built in phases between 2008 and 2013 on a 35-acre site within the 900-acre Alliance Town Center master-planned development. Units come in one-, two- and three-bedroom formats and have an average size of 985 square feet. Amenities include a pool, outdoor grilling and dining stations, business center and a pet park. Drew Kile, Taylor Hill, Joey Tumminello, Michael Ware, Cameron Purse and William Hubbard of IPA represented the seller, Hillwood Multifamily, in the transaction and procured the buyer, Weidner Apartment Homes.

January 20, 2025

Acquisitions California Industrial Western

CapRock Partners Sells 270,000 SF West Valley Logistics Center in Walnut, California

by Amy Works January 20, 2025

WALNUT, CALIF. — CapRock Partners has completed the disposition of West Valley Logistics Center, a LEED-certified industrial warehouse in Walnut. Completed in December 2024, West Valley Logistics offers 270,000 square feet of speculative industrial space situated on 12.5 acres at 4200 Valley Blvd. The property features a clear height of 40 feet, secure dual access with drive-around capabilities, rear loading with 28 dock-high doors, 45 trailer parking stalls, 130 car spots, ample power and 10,000 square feet of two-story office space. Matt Moore, Wes Hunnicut and Michael Torres of Stream Realty represented CapRock Partners, while Mike Hartel and Nick Velasquez of Colliers represented the undisclosed buyer in the deal. The acquisition price was not released.

January 20, 2025

Acquisitions California Industrial Western

Yunqun Purchases 21,481 SF Multi-Tenant Industrial Building in Carlsbad, California

by Amy Works January 20, 2025

CARLSBAD, CALIF. — Yunqun LLC has acquired a 21,481-square-foot multi-tenant industrial building located at 5924 Balfour Court in Carlsbad. The Gildred Cos. sold the asset for $6.2 million. Yunqun plans to occupy the vacant 12,105 square feet in the building for its manufacturing business with move-in expected later this year. Chris Baumgart and Steven Field of JLL represented the seller, while Hank Jenkins, Mike Erwin and Tucker Hohenstein of Colliers represented the buyer in the transaction.

January 20, 2025

Acquisitions Colorado Retail Western

Pinnacle Brokers Sale of 5,589 SF Retail Building in Denver

by Amy Works January 20, 2025

DENVER — Pinnacle Real Estate Advisors has arranged the sale of a retail and liquor store property located at 2035 S. Broadway in Denver. The 5,589-square-foot property traded for $4.7 million in an off-market transaction. The names of the seller and buyer were not released. Levi Saxen and Jack Eberwein of The Saxen Team of Pinnacle Real Estate Advisors represented the buyer and seller in the deal.

January 20, 2025

Acquisitions Midwest Minnesota Multifamily

Colliers Brokers Sale of 116-Unit Historic Apartment Building in Minneapolis

by Kristin Harlow January 20, 2025

MINNEAPOLIS — Colliers has brokered the sale of ElseWarehouse, a 116-unit apartment building in the North Loop of Minneapolis. The sales price was undisclosed. The transaction marks the first time the historic warehouse apartments have hit the market. Mox Gunderson, Dan Linnell, Devon Dvorak and Adam Haydon of Colliers represented the seller, Greco. North Dakota-based Great States Development was the buyer. Greco converted the 1920s warehouse into apartments in 2012. Located at 730 N. Washington Ave., the property features a variety of one-, two- and three-bedroom units averaging 907 square feet. Amenities include a fitness center, rooftop clubrooms and retail space on the ground floor.

January 20, 2025

Acquisitions Industrial Life Sciences Northeast Pennsylvania

NAI Summit Brokers $5.5M Sale of Industrial, R&D Facility in Bethlehem, Pennsylvania

by Taylor Williams January 20, 2025

BETHLEHEM, PA. — NAI Summit has brokered the $5.5 million sale of a 48,000-square-foot industrial and research and development (R&D) facility in the Lehigh Valley city of Bethlehem. The facility features 32 clean rooms, warehouse space, an office area and a machine shop. Mike Adams and Sarah Finney Miller of NAI Summit represented the seller and former occupant, semiconductor manufacturer IQE, in the transaction. The buyer, German pharmaceutical company GfM Bremen, will also occupy the building.

January 20, 2025

Acquisitions Healthcare Northeast Pennsylvania

Marcus & Millichap Negotiates $2.9M Sale of Medical Office Building in York, Pennsylvania

by Taylor Williams January 20, 2025

YORK, PA. — Marcus & Millichap has negotiated the $2.9 million sale of a 10,000-square-foot medical office building in York, about 100 miles west of Philadelphia. The building at 1550 Rodney Road was fully leased at the time of sale to the University of Pittsburgh Medical Center. Spencer Koch, Scott Gould, Rory Shelby and Christopher Biuso of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer was also not disclosed.

January 20, 2025

Acquisitions Industrial Texas

Stonepeak Acquires 2.3 MSF Industrial Portfolio Near Port Houston

by Taylor Williams January 17, 2025

HOUSTON — Global investment firm Stonepeak, which is headquartered in New York City, has acquired a portfolio of six industrial properties totaling 2.3 million square feet in Houston. The properties, the names and addresses of which were not disclosed, serve tenants in the logistics sector and are all located within eight miles of Port Houston. JLL acted as Stonepeak’s financial advisor in the transaction. The seller and sales price were not disclosed.

January 17, 2025

Acquisitions Loans Multifamily Texas

ShainRealty Capital Buys Dallas Apartment Complex for $39.5M

by Taylor Williams January 17, 2025

DALLAS — Los Angeles-based investment firm ShainRealty Capital has purchased Yorktown Luxury Apartments, a 226-unit complex located in the Kessler Park area of Dallas, for $39.5 million. Built in 2016, the property offers studio, one-, two- and three-bedroom units and amenities such as a pool, lounge and outdoor grilling and dining stations. Eric Calub, Caleb Jones and Paul Harris of Berkadia brokered the sale. The seller was Nuveen Real Estate. Arbor Realty Trust provided a $27.6 million CMBS acquisition loan to ShainRealty Capital that was structured with a five-year term, fixed interest rate of 5.88 percent and a 70 percent loan-to-value ratio. The new ownership will make capital improvements and has rebranded the property as Infinity on Yorktown.

January 17, 2025

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