SARATOGA SPRINGS, N.Y. — Regional owner-operator Maine Course Hospitality Group has purchased the 113-room Homewood Suites Saratoga Springs hotel, located north of Albany. The extended-stay hotel was built in 2017 and offers amenities such as a fitness center, business center, indoor pool and a sport court. Denny Meikleham and John Kluh of Berkadia represented the seller, a joint venture between DelMonte Hotel Group and XSS Hotels, in the transaction.
NORTH LAS VEGAS, NEV. — CapRock Partners has completed the sale of CapRock Point @ Cheyenne, a Class A industrial facility located at 3921 E. Cheyenne Ave. in North Las Vegas, to EastGroup Properties for an undisclosed price. Developed in 2022 by CapRock Partners, CapRock Point @ Cheyenne features 101,332 square feet of industrial warehouse space. The fully leased property features a clear height of 30 feet, 13 dock-high doors, two grade-level doors, 107 auto stalls, ESFR sprinklers, 2,000 amps of power, flexible configuration and 3,027 square feet of office space. Michael Kendall and Gian Bruno of Colliers led the transaction, with local support from Dan Doherty, Paul Sweetland and Jerry Doty of Colliers.
CAMAS, WASH. — Forging Union LLC has acquired a multi-tenant retail strip center in Camas from Hurley Development for $18.7 million. The 35,547-square-foot property is fully occupied by 15 tenants, including businesses focused on financial services, health and fitness, and food and beverage tenants with triple-net leases. The property is situated on 2.5 acres at 301 N.E. 192nd Ave. Wes Bochner of CBRE represented the buyer in the deal.
BEAVERTON, ORE. — Gantry has secured a $12.4 million structured financing package aligning a bridge loan execution and preferred equity for the purchase of an industrial facility in Beaverton. Located at 10025 S.W. Allen Blvd., the 50,400-square-foot Class B property is fully lease to two tenants. Situated on 6.9 acres, the property includes 2 acres of fenced outdoor storage capacity. Mike Wood and Tim Brown of Gantry represented the sponsor, a private real estate investor. The structured equity and debt package was secured from one of Gantry’s correspondent life company lenders. The financing includes a five-year loan with upfront interest-only transitioning to a 25-year amortization schedule. Gantry will service the loan on behalf of its correspondent.
ORLANDO, FLA. — Crescent Communities has sold NOVEL Nona, a 260-unit apartment community in Orlando’s Lake Nona neighborhood, to an undisclosed, private real estate management company. The Charlotte-based developer broke ground on the property in 2021. NOVEL Nona features a fitness center with a dedicated studio for yoga and spin classes, coworking spaces, a saltwater pool with cabanas, bike storage, walking trails, a conservation area, top-floor lounge with TVs and a craft cocktail bar, two courtyards, firepits and grills. Crescent Communities recently announced the appointment of Greg Minder to lead strategy, development and execution across the company’s multifamily presence in Tampa, Orlando and Jacksonville. The developer currently has several properties in the construction stages in those markets.
NASHVILLE, TENN. — Boyle Investment Co. has acquired Woodmont Centre, a two-building office park located at 102 and 104 Woodmont Blvd. in Nashville. The property is situated at near I-440 on the outskirts of the city’s Belle Meade neighborhood. The complex comprises a nine-story office building and a five-story office building connected by a shared lobby, along with a multi-level parking garage accommodating approximately 500 vehicles. The undisclosed seller began capital improvements to Woodmont Centre that Boyle Investment plans to complete. The sales price was not disclosed.
VICTORVILLE, CALIF. — Pacific Coast Commercial has arranged the purchase of a multi-tenant retail property located at 14190 Bear Valley Road in Victorville. The 11,618-square-foot asset traded for $6.1 million. Vince Provenzano and Michael Sikorski of Pacific Coast Commercial represented the buyer, while Rick Helmonds and Lance Mordachini of Progressive Real Estate Partners represented the seller in the transaction. Sunflower Bank provided acquisition financing for the deal.
MILWAUKEE — CBRE has arranged the sale of a four-property, 358-unit multifamily portfolio in Milwaukee for $29.7 million. The portfolio includes Parkview Apartments, Lisbon Court, Hampton Gardens and Grantosa Apartments. The garden-style properties include parking, laundry facilities, community spaces and patios or balconies for most units. CBRE’s Matson Holbrook, Gretchen Richards, Sean Beuche and Patrick Gallagher represented the seller, Milwaukee-based Metropolitan Associates. Brookfield, Wis.-based Coachlight Communities LLC was the buyer.
FARIBAULT, MINN. — Marcus & Millichap has negotiated the $6.5 million sale of Pleasant View Estates, a 36-unit assisted living and memory care facility in Faribault, about 50 miles south of Minneapolis. Built in 1998, the property sits on 4.8 acres at 41 Brand Ave. The 44,300-square-foot facility includes 24 one-bedroom units and 12 two-bedroom units. Approximately 75 percent of the residents are Medicaid assisted living facility occupants. The building is connected to a vacant skilled nursing home formerly known as Pleasant Manor. Ray Giannini of Marcus & Millichap represented the seller, Monarch Healthcare Management, and procured the buyer, a regional private investor.
CHICAGO — Interra Realty has arranged the sales of two vintage multifamily properties in Chicago. An eight-unit building at 10-12 W. Chestnut St. in the Gold Coast neighborhood sold for $3.4 million, and a two-building, 12-unit property at 1754-1756 W. 21st Place in the Pilsen neighborhood traded for $3.1 million. Jeremy Morton of Interra represented the confidential buyer of the Gold Coast building, while Steven Rapoport of Chicago Real Estate Resources Inc. represented the unnamed seller. Morton and colleague Harrison Pinkus brokered the Pilsen deal on behalf of the private seller, with Denise Reynes of HomeSmart Connect LLC representing the confidential buyer. All buildings were fully occupied at the time of sale and were constructed in the late 1800s.