STOW, MASS. — Regional brokerage firm Atlantic Capital Partners has negotiated the sale of Stow Shopping Center, a 124,405-square-foot retail property in Central Massachusetts. Grocer Shaw’s anchors the center, which was 90 percent leased at the time of sale via the recent new leases with a dentistry practice and spa operator. Justin Smith, Chris Peterson, Sam Koonce, Danielle Donovan and Matt Austin of Atlantic Capital Partners represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
DEL CITY, OKLA. — Home Invest, a private investment firm and fund manager, has acquired Morgan Terrace, a 100-unit apartment complex in Del City, located southeast of the state capital. The sales price was $3.7 million, and the seller was an undisclosed, California-based investor. According to Apartments.com, Morgan Terrace was built in 1964 and offers one-, two- and three-bedroom units, as well as a courtyard and onsite laundry facilities.
BEVERLY, MASS. — New York City-based investment firm The Praedium Group has purchased a portfolio of four multifamily properties totaling 394 units the northeastern Boston suburb of Beverly. Known as The Beverly Crossing Portfolio, the quartet of properties includes The Block, Canvas, Link 480 and Flats at 131, all of which were built between 2017 and 2023. The portfolio offers a mix of studio, one- and two-bedroom units with an average unit size of 783 square feet, as well as 26,038 square feet of retail space. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller in the transaction and procured Praedium Group as the buyer.
NASHVILLE, TENN. — Origin Investments has purchased Queens WeHo, a 221-unit apartment community located in downtown Nashville’s Wedgewood-Houston neighborhood. The sales price was not disclosed, but multiple media outlets report the property traded for $79.4 million. Queens WeHo represents the second acquisition of the Chicago-based buyer’s Origin Exchange Delaware Statutory Trust (DST) investment program that launched in June 2024. The seller, Proffitt Dixon, delivered Queens WeHo in 2023. The property was 94 percent occupied at the time of sale and features a mix of studio, one-, two- and three-bedroom apartments ranging in size from 559 to 1,120 square feet. The ground level features a 6,461-square-foot restaurant space fully occupied by Mercado by Butchertown. Russ Oldham led the Walker & Dunlop brokerage team in the sale. Jamie Butler, Cliff Ayers, Jason McFadden, Brett McGuire and Michael Bowles, also with Walker & Dunlop, arranged acquisition financing on behalf of Origin Investments.
SANDY SPRINGS, GA. — Atlanta-based Third & Urban has purchased Northridge Commons, a seven-building industrial flex campus in Sandy Springs, a northern suburb of Atlanta. The 470,000-square-foot property is located at 8601 Dunwoody Place near Ga. Highway 400. Dilweg sold the campus for an undisclosed price. Will Yowell of CBRE’s National Office Partners team in Atlanta represented the seller in the transaction. Mike Ryan, Brian Linnihan and J.P. Cordeiro of CBRE Capital Markets’ Debt & Structured Finance team arranged $48.5 million in acquisition financing for Third & Urban. Northridge Commons was 83 percent leased at the time of sale to a variety of office, flex and warehouse occupiers, including Inspire Brands and Invitation Homes, a subsidiary of Blackstone. Third & Urban says it will reposition some of the office spaces to attract more flex industrial users.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $6.6 million sale of a 77-unit multifamily building located at 270 Saint Nicholas Ave. in East Harlem. According to StreetEasy, the six-story building was originally constructed in 1935. Victor Sozio, Remi Mandell and Jake Brody of Ariel represented the seller in the transaction. Amit Doshi and Shallini Mehra of Meridian Capital Group represented the buyer. Both parties requested anonymity.
WESTON, FLA. — A joint venture between Dallas-based Lincoln Property Co. (LPC) and Chicago-based Walton Street Capital has acquired a 226,392-square-foot distribution center located at 1600 N. Park Drive in Weston, a city in South Florida’s Broward County. Munich-based Manova Partners sold the property for $43.8 million. José Lobón, Trey Barry, Frank Fallon, Royce Rose, George Fallon, Gabriel Braun and Daniel Sarmiento of CBRE represented the seller in the transaction. LPC will provide property management services and construction oversight for the distribution center, which was partially leased at the time of sale to Mondelēz International Inc., a global food-and-beverage distributor based in Chicago.
FORT MYERS, FLA. — CAPREIT has acquired Coastal Village, an 800-bed student housing community located near the Florida Gulf Coast University campus in Fort Myers. The acquisition marks the North Bethesda, Md.-based firm’s entry into the student housing sector. Coastal Village was developed in 2004 at 19401 Skidmore Way and offers fully furnished units in four-bedroom configurations. Shared amenities include a pool, fire pit, resident lounge, coffee bar, private study spaces and a fitness center. The seller and terms of the transaction were not released.
HOUMA, LA. — Atlanta-based ECI Group has sold Houma Highlands, a 378-unit apartment community located at 461 S. Hollywood Road in Houma, about 57 miles southwest of New Orleans. Oakwood Capital purchased the 16-building property for an undisclosed price. Larry G. Schedler & Associates and Mike Kemether of Cushman & Wakefield’s Atlanta office represented ECI Group in the disposition. Phase I of Houma Highlands was completed in 2004 by another developer. ECI Group purchased the first phase and then completed Phase II in 2012. The pet-friendly community features one-, two- and three-bedroom apartments, as well as a resort-style pool, fitness center and green spaces.
SUMNER, WASH. — New York-based Madison Capital has acquired four REI Co-op distribution centers in Sumner, Wash., Bedford, Penn., Goodyear, Ariz. and Lebanon, Tenn., for $230 million in a sale-leaseback transaction, which also includes the land associated with the properties. REI Co-op will continue to maintain and operate all buildings, as well as own all equipment and machinery inside each facility. The co-op’s network of distribution centers services its more than 190 stores across the country, as well as fulfills customers’ online orders. Heartland LLC, in cooperation with BRK Real Estate Advisors, JLL and Foundry Commercial, represented Sumner-based REI.