MAPLE GROVE, MINN. — JLL Income Property Trust has acquired a Class A industrial business park in the Minneapolis suburb of Maple Grove for $66.5 million. The two-building property totals 443,000 square feet and is fully leased. Constructed in 2023, the asset features 49 dock doors, five drive-in doors, a clear height of 32 feet and ample parking. The seller was undisclosed. As of Sept. 30, industrial investments comprised 32 percent of JLL Income Property Trust’s $6.6 billion portfolio, with $2.1 billion in industrial assets across 59 properties.
GREENFIELD, WIS. — Northmarq has arranged the $57.7 million sale of Forte at 84South, a 268-unit luxury apartment complex in the Milwaukee suburb of Greenfield. Built in 2018, the property features one-, two- and three-bedroom floor plans. Parker Stewart, Dominic Martinez, Alex Malzone and Jake Lamb of Northmarq represented the developer and seller, Fiduciary Real Estate Development Inc. The Brookview Companies was the buyer. Brett Hood, David Link, Kevin McCarthy and Cole Boland of Northmarq originated acquisition financing through Fannie Mae.
LAFAYETTE, IND. — The Cooper Commercial Investment Group has brokered the sale of the Market Square Shopping Center in Lafayette for $10.9 million. Anchor tenants at the 132,429-square-foot property include Dollar General, the State of Indiana, Indiana BMV and Arni’s Pizza. Dan Cooper of Cooper Group represented the seller, a private investment group out of Kansas. The Michigan-based buyer purchased the asset at 99 percent of the list price. The property was 84 percent leased at the time of sale.
WAUWATOSA, WIS. — JVM Realty Corp. has purchased Mayfair Reserve, a 236-unit luxury apartment property in the Milwaukee suburb of Wauwatosa. Atlantic Residential sold the asset for an undisclosed price. Completed in 2017, Mayfair Reserve offers one- and two-bedroom layouts. Amenities include a fitness center, clubhouse, pool, outdoor kitchen, climate-controlled garage parking, electric vehicle charging station and dog park. Atlantic Residential developed Mayfair Reserve in partnership with Edge Principal. JVM now owns and manages 22 communities throughout the Midwest.
GREER, S.C. — Northmarq has arranged the $49.3 million sale of Ryder Junction, a 264-unit apartment community located at 900 Conductor Circle in Greer, a city in South Carolina’s Upstate region. Andrea Howard, John Currin, Allan Lynch, Caylor Mark, Jeff Glenn and Austin Jackson of Northmarq represented the seller, Proffitt Dixon Partners, in the transaction. Additionally, Faron Thompson, Grant Harris and Cabell Thomas of Northmarq originated a $31.7 million Fannie Mae acquisition loan on behalf of the borrower, The Beach Co. Built in 2023, Ryder Junction features one-, two- and three-bedroom apartments, as well as a clubhouse, pool, dog park, coworking suites, fitness center and detached garages.
KNOXVILLE, TENN. — Hunter Hotel Advisors has brokered the sale of TownePlace Suites Knoxville Cedar Bluff, a 97-room hotel located near the I-75 and I-40 connector in Knoxville. Tim Osborne of Hunter represented the institutional seller in the transaction. The buyer and sales price were not disclosed. Amenities at the hotel include a 24/7 fitness center and an outdoor swimming pool.
GARLAND, TEXAS — Rise48 Equity, an investment firm with offices in Phoenix, Dallas and Charlotte, has acquired Gateway Place Apartments, a 142-unit multifamily complex in the northeastern Dallas suburb of Garland. According to Apartments.com, the property was built in 1983, features one-, two- and three-bedroom units and offers amenities such as a pool, dog park and outdoor grilling and dining stations. The new ownership plans to invest $3.4 million in capital improvements to the unit interiors and building exteriors and rebrand the property as Rise Gateway. The seller and sales price were not disclosed.
LOVELAND, COLO. — Hunt Midwest has sold Capstone at Centerra, an assisted living and memory care property in Loveland, to California-based IRA Capital for $40 million. Completed and opened in 2023, Capstone at Centerra is Hunt Midwest’s most recent Capstone senior living development and the company’s first development in Colorado. The community offers 102 studio, one- and two-bedroom apartments with granite countertops, stainless steel appliances and high-quality flooring. Capstone at Centerra includes a full-service dining room, fitness center, landscaped outdoor spaces, a salon, library, game room and scheduled transportation services. Capstone at Centerra is the third Capstone senior living community developed by Hunt Midwest, including the Capstone at Royal Palm in Royal Palm Beach, Fla., and Capstone at Station Camp in Gallatin, Tenn. Charles Bissell and Tony Hong of BWE Investment Sales represented Hunt Midwest in the transaction.
WEST VALLEY CITY, UTAH — VanTrust Real Estate has acquired 32 acres, located at 5998 W. Parkway Blvd. in West Valley City, with plans to build four industrial warehouses. The site will accommodate four buildings offering a total of 600,000 square feet of Class A industrial space. The site’s location offers easy access to State Route 201, Salt Lake City International Airport, I-80, I-15 and the Union Pacific Railroad intermodal hub. VanTrust expects construction on the first two buildings to start in late spring 2025 and deliver in late spring 2026. Construction timing on the other two buildings is still to be determined. Specific tenants for the warehouses have not yet been identified.
TRUCKEE, CALIF. — Marcus & Millichap has secured $19.4 million in financing for the acquisition of a self-storage facility in Truckee. Joel Westle of Marcus & Millichap Capital Corp.’s San Francisco office arranged the 10-year loan on behalf of Airport Self Storage. The 54,000-square-foot property is located at 11999 Highway 267 near the Truckee Tahoe Airport.