Acquisitions

BMC Investments Purchases 312-Unit Apartment Community in West Jacksonville

by John Nelson March 3, 2025

JACKSONVILLE, FLA. — Denver-based BMC Investments has acquired The Finley, a 312-unit apartment community located at 9541 103rd St. in west Jacksonville. The sales price was not disclosed, but the Jacksonville Daily Record reports the property traded for $37 million. The three-story property — which was 95 percent occupied at the time of sale — features one-, two-, and three-bedroom apartments ranging in size from 775 square feet to 1,305 square feet, according to Apartments.com. Amenities at the property include a swimming pool, fitness center, clubhouse, car wash area, package services and walking trails. BMC plans to renovate a quarter of The Finley’s units with new flooring and cabinets. This deal marks BMC’s first acquisition in the state of Florida. Erik Bjornson and Tyler Nilsson of Institutional Property Advisors (IPA) brokered the sale.

March 3, 2025

Acquisitions Retail South Carolina Southeast

Ziff Real Estate Acquires Promenade at Northwoods Retail Center in North Charleston for $30.8M

by John Nelson March 3, 2025

NORTH CHARLESTON, S.C. — South Carolina-based Ziff Real Estate Partners (ZRP) has acquired Promenade at Northwoods, a 253,308-square-foot retail center in North Charleston, for $30.8 million. The seller and sales price were not disclosed, but The Post and Courier reports the seller was an affiliate of Charlotte-based Big V Property Group. Situated on 7800 Rivers Ave. across from Northwoods Mall, the property is anchored by Hobby Lobby and Ollie’s Bargain Outlet. Christian Chamblee, Brooke Frey and Paige Tompkins led the ZRP deal team in the transaction. This acquisition brings ZRP’s metro Charleston portfolio to 640,000 square feet across six properties.

March 3, 2025

Acquisitions Healthcare Michigan Midwest

Dominion Arranges Sale of 15,000 SF Medical Office Building in Warren, Michigan

by Kristin Harlow March 3, 2025

WARREN, MICH. — Dominion Real Estate Advisors LLC has arranged the sale of a 15,000-square-foot medical office building in Warren, an inner-ring suburb of Detroit. The multi-tenant property is located at 29431 Ryan Road. Andrew Boncore Sr. of Dominion represented the seller, Summit Ryan Development LLC. Ayman Alamat of Community Choice Realty represented the buyer, Natcoc LLC, an investment firm based out of California.

March 3, 2025

Acquisitions Indiana Midwest Retail

Greenstone Partners Brokers $2M Sale of Two-Tenant Retail Property in Portage, Indiana

by Kristin Harlow March 3, 2025

PORTAGE, IND. — Greenstone Partners has brokered the sale of Starbucks Center at AmeriPlex at the Port, a two-tenant retail property in Portage, for nearly $2 million. The 5,251-square-foot asset is located just off I-94 at the entrance of AmeriPlex at the Port, a 387-acre mixed-use business park. Tenants include Starbucks, which has occupied space for over 17 years and recently extended its lease through 2033, and El Salto/Fairway Indoor Golf, a regional restaurant group that recently introduced high-tech golf simulators. Jason St. John of Greenstone represented the seller and developer in the transaction. Buyer information was not provided.

March 3, 2025

Acquisitions Multifamily New York Northeast

Ariel Property Advisors Arranges $7.8M Sale of Multifamily Development Site in Brooklyn

by Taylor Williams March 3, 2025

NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has arranged the $7.8 million sale of a multifamily development site in the Gowanus area of Brooklyn. The site at 284 4th Ave. can support 33,261 buildable square feet of product, although information on the proposed number of units was not disclosed. Sean Kelly, Stephen Vorvolakos and Nicole Daniggelis of Ariel represented the seller, a private investor, in the transaction. The buyer was also a private investor.

March 3, 2025

Acquisitions Connecticut Multifamily Northeast

NEPCG Negotiates $5M Sale of Plymouth Village Apartments in Terryville, Connecticut

by Taylor Williams March 3, 2025

TERRYVILLE, CONN. — Regional brokerage firm Northeast Private Client Group (NEPCG) has negotiated the $5 million sale of Plymouth Village, a 46-unit apartment complex in Terryville, about 20 miles west of Hartford. According to Apartments.com, the property offers one- and two-bedroom units. Taylor Perun of NEPCG represented the seller and procured the buyer, both of which were Connecticut-based entities that requested anonymity, in the transaction.

March 3, 2025

Acquisitions Retail Southeast Top Stories

JLL Arranges $467M Sale-Leaseback of SouthState Bank Retail Branches Throughout Southeast US

by Taylor Williams March 3, 2025

WINTER HAVEN, FLA. AND NEW YORK CITY — JLL has arranged the sale-leaseback of 165 retail branches in six states that are occupied by SouthState Bank, a regional lender based in the Tampa area, in a transaction valued at approximately $467 million. The buyer is Blue Owl Capital (NYSE: OWL), and the transaction was executed through various funds managed by the New York City-based asset management firm. The bank branches are located throughout Alabama, Georgia, Florida, North Carolina, South Carolina and Virginia and total approximately 1.2 million square feet. Terms of the sale-leaseback call for SouthState Bank to continue to occupy the branches on 15-year, triple-net leases with 2 percent annual rent increases. SouthState Bank will also continue to operate the branches without any changes to its product or service offerings. Alex Sharrin, Coler Yoakam, Brian Shanfeld, Jeffrey Cicurel, Josh Katlin, Michael Roberts, Josh Hirsch and Andrew Weir of JLL structured the transaction on behalf of SouthState Bank. The lender did not specify what the proceeds from the sale might be allocated toward, saying only that funds would “enhance its balance sheet.” Others involved in the deal commented on the appeal of the structure itself in today’s market. “Sale-leaseback transactions continue …

March 3, 2025

Acquisitions Multifamily Texas

Knightvest Capital Acquires 331-Unit Apartment Building in Uptown Dallas

by Taylor Williams February 28, 2025

DALLAS — Knightvest Capital, an investment firm with four offices across Sun Belt markets, has acquired SKYE of Turtle Creek, a 331-unit apartment building in Uptown Dallas that was completed in 1998. According to Apartments.com, SKYE of Turtle Creek offers one-, two- and three-bedroom units that range in size from 843 to 1,886 square feet, as well as a clubhouse, dog park and outdoor grilling and dining stations. The seller and sales price were not disclosed. Knightvest has since rebranded the property as Remi and plans to renovate select units and to upgrade building exteriors and common areas.

February 28, 2025

Acquisitions Development Industrial Texas

Foundry Commercial Buys Industrial Outdoor Storage Site in Fort Worth, Plans New Facility

by Taylor Williams February 28, 2025

FORT WORTH, TEXAS — Orlando-based development and investment firm Foundry Commercial has purchased an industrial outdoor storage (IOS) site in Fort Worth. Located on the city’s south side, the site at 8800 S. Freeway spans 6 acres upon which Foundry plans to construct a 5,200-square-foot service building. Foundry is partnering with Manulife Investment Management on the purchase and development of the property, which will be known as Freeway Yards.

February 28, 2025

Acquisitions Industrial Texas

Oxford Partners Arranges Sale of 10,000 SF Industrial Building in Cypress, Texas

by Taylor Williams February 28, 2025

CYPRESS, TEXAS — Locally based brokerage firm Oxford Partners has arranged the sale of a 10,000-square-foot industrial building in the northwestern Houston suburb of Cypress. According to LoopNet Inc., the single-tenant building at 13233 N. Eldridge Parkway was completed in 2024. Jeffery Arnaud of Oxford Partners represented the buyer, Hernandez Office Supply, in the transaction. Darren O’Connor of Partners Real Estate represented the undisclosed seller.

February 28, 2025

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