SAN CLEMENTE, CALIF. — CareTrust REIT has acquired 13 skilled nursing facilities in Tennessee for $176 million. California-based CareTrust purchased the properties through a joint venture arrangement with an unnamed, third-party healthcare real estate owner. Each of the 13 facilities will be operated by existing CareTrust tenants under new, long-term master lease agreements. Affiliates of the Ensign Group will operate six of the facilities, with affiliates of Links Healthcare Group operating the remaining seven. The acquisition is Phase II of a larger $421 million portfolio transaction that ultimately involves 27 facilities in Tennessee.
TYSONS, VA. — Berkadia has brokered the sale of Hanover Tysons, a 412-unit multifamily community located at 1500 Westbranch Drive in Tysons, about 15 miles west of Washington, D.C. Chicago-based Mesirow Financial purchased the property from Hanover Co. and PCCP for an undisclosed price. The buyer has rebranded the community as The Jones at Tysons. Brian Crivella, Bill Gribbin and Yalda Ghamarian of Berkadia represented the sellers in the transaction. Situated adjacent to Tysons Galleria and Tysons Corner Center, the apartment community features studio, one-, two- and three-bedroom floor plans, as well as a resort-style pool, greenspace courtyard, fitness center, resident clubhouse and a theater room.
KAPOLEI, HAWAII — Los Angeles-based New Age Ko Olina has acquired two oceanfront lots near the Ko Olina master-planned development in Honolulu from Oceanwide Resort HI LLC for an undisclosed price. CBRE’s Matt Bittick and Henry Bose represented the seller, while Powell & Aucello represented the buyer in the deal. The first lot, adjacent to Aulani Resort, is entitled for up to 1.5 million square feet of developable area and up to 1,400 units. The seller had proposed a 1,383-key Atlantis Resort & Residence Ko Olina (subject to design review), which would feature 37,500 square feet of retail space, 1,200-seating restaurant options, an aquarium and pools, and open to two of Ko Olina’s beach lagoons. The second lot is entitled for up to 990,000 square feet of developable area with no more than 850 units and opens to two beach lagoons and the Pacific Ocean. The approvals for the lot provide for a hotel, branded residential and timeshare. Ko Olina is an oceanfront master-planned development on the west coast of Oahu. Situated on more than 642 acres, the property offers four beach lagoons connected by more than a mile-and-a-half of seaside paths, the Ko Olina Golf Club and Ko Olina Marina, …
SACRAMENTO, CALIF. — Reliant Group has completed the sale of The Lofts, an apartment property in Sacramento’s Natomas submarket. Jackson Square Properties acquired the asset for $52.3 million. Located at 3351 Duckhorn Drive, The Lofts offers 188 one- and two-bedroom units, with more than 40 percent including loft-style floor plans. Select units feature attached direct-access garages, nine-foot vaulted ceilings, dual-pane windows and luxury flooring. Community amenities include a swimming pool, hot tub, fitness center, an outdoor barbecue and entertainment center and a playground. Marc Ross of CBRE represented the seller in the deal. Ryan Greer and Trevor Breaux of CBRE Capital Markets Debt & Structured Finance arranged financing on behalf of the buyer.
TEMPE, ARIZ. — DAUM Commercial Real Estate Services has arranged the purchase of a manufacturing and distribution industrial building in Tempe. A private investor acquired the asset, located at 1326 W. Fairmont Drive, for $7.3 million from an undisclosed seller. The 39,813-square-foot property features seven dock doors and heavy power to accommodate both manufacturing and distribution uses. Parker Houston, Chris Rogers and Trevor McKendry of DAUM handled the transaction.
ANN ARBOR, MICH. — Marquette Cos. and a fund managed by DRA Advisors have sold The Haven at Ann Arbor, a 520-unit apartment community in Ann Arbor. Abacus Capital Group, a New York-based real estate investment firm, purchased the asset for an undisclosed price. Marquette purchased The Haven in 2017 when it was known as Village Green of Ann Arbor and undertook a $13 million revitalization project that included extensive exterior improvements and unit interior renovations. Marquette also renovated the amenities and improved site operations. At the time of sale, The Haven was 95 percent occupied. Located about a 15-minute drive from the University of Michigan, the property features studio, one- and two-bedroom units ranging from 650 to 1,075 square feet. Amenities include a clubhouse with resident lounge, three fitness centers, an outdoor pool with terrace, enclosed dog park, tennis courts, nature trails and an onsite car washing station.
CHICAGO — Berkadia has negotiated the sale of Midpointe Apartments in Chicago for an undisclosed price. The 423-unit, garden-style multifamily property was built in 1973 and extensively upgraded over the last 10 years. Amenities include an outdoor pool, fitness center, dog park, fire pit and outdoor gas grilling areas. Ralph DePasquale of Berkadia represented the seller, an institutional investor. An affiliate of California-based Turner Impact Capital was the buyer.
FLINT, TEXAS — The Multifamily Group (TMG), a Dallas-based brokerage firm, has negotiated the sale of two hospitality properties totaling 116 units in Flint, about 100 miles east of Dallas. Lakeside has 104 rentable units consisting of 96 two-bedroom cabins with an average size of 726 square feet and eight two-bedroom lodges with an average size of with 826 square feet. Wildlakes has 12 units, including duplexes, suites and three-bedroom units. Jon Krebbs and Paul Yazbeck of TMG brokered the deal. The buyer and seller were not disclosed.
SHORT PUMP, VA. — Wafra Inc. has sold Short Pump Station, a 91,369-square-foot shopping center in Short Pump, located roughly 10 miles northwest of Richmond. Nuveen Real Estate acquired the property for nearly $55 million, making the center the investor’s second acquisition in the Richmond metro area. Situated on 147 acres, the retail development is anchored by Trader Joe’s. Other tenants at the property include Ulta Beauty and Petco. John Owendoff of Cushman & Wakefield, along with Catharine Spangler of Cushman & Wakefield | Thalhimer, represented Wafra in the transaction. The New York City-based investor has owned Short Pump Station since acquiring it from a joint venture affiliate of AmCap in 2021. Nuveen has retained Cushman & Wakefield | Thalhimer to lease and manage the shopping center.
WASHINGTON, D.C. — Clear Investment Group has purchased Marbury Plaza, a 681-unit apartment community located in southeast Washington, D.C. The Chicago-based investment firm plans to rebrand the property to Langston Views and upgrade the amenity package to include a new fitness center, onsite convenience store and renovated pools and locker rooms. This is the fifth investment for the buyer’s Clear Opportunities Fund I. The seller and sales price were not disclosed.