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Acquisitions

AcquisitionsMassachusettsMultifamilyNortheastTop Stories

Hamilton Co. Acquires Hill Estates Apartments in Metro Boston for $175M

by John Nelson

BELMONT, MASS. — The Hamilton Co., a privately held real estate investment and management firm based in Boston, has acquired Hill Estates, a 396-unit apartment community in Belmont. The original developer, the DiGiovanni family, sold the market-rate community for $175 million. Built by the DiGiovanni brothers — Silvio, Rocco, Joseph and Charles — in the 1960s, Hill Estates had been owned and managed by the family since its inception and hit the market for the first time as part of this transaction. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the DiGiovanni family and procured The Hamilton Co. in the transaction. KeyBank Real Estate Capital provided an undisclosed amount of acquisition financing. “For over 50 years, the DiGiovanni family had been great stewards of this legacy asset in one of the most desirable towns in the Boston metro,” says St. John. “While the DiGiovanni family has taken great care and pride in this asset, we anticipate that The Hamilton Co. will make substantial investments in the asset to modernize and amenitize the community.” Hill Estates is situated on a 14.7-acre site off Brighton Street in Belmont, which is located on the western border of Cambridge, …

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AcquisitionsOfficeTexas

Partners Real Estate Brokers Sale of 25,062 SF Office Building in Grapevine, Texas

by Taylor Williams

GRAPEVINE, TEXAS — Partners Real Estate has brokered the sale of a 25,062-square-foot office building in Grapevine, located in the northern-central part of the metroplex. According to LoopNet Inc., the building at 4101 William D. Tate Ave. was originally constructed in 2006. William Kane, Ryan McCullough, Court Powell and Connor Watson of Partners represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.

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AcquisitionsHealthcareTexas

Silver Oak Commercial Negotiates Sale of 6,898 SF Medical Office Building in Stephenville, Texas

by Taylor Williams

STEPHENVILLE, TEXAS — Silver Oak Commercial Realty has arranged the sale of a 6,898-square-foot medical office building in Stephenville, about 75 miles southwest of Fort Worth. Liberty Dialysis anchors the building at 946 Bluebonnet St., which was fully leased at the time of sale. An entity doing business as Midlothian 67 Partners LLC sold the building to Namy Properties LLC for an undisclosed price. Russ Webb and LeAnn Brown of Silver Oak, along with Jim Turano of Henry S. Miller, brokered the deal.

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AcquisitionsIndustrialMassachusettsNortheast

Marcus Partners Sells 192,380 SF Industrial Portfolio in Metro Boston

by Taylor Williams

TAUNTON AND HAVERHILL, MASS. — Regional owner-operator Marcus Partners has sold a portfolio of two industrial buildings totaling 192,380 square feet in metro Boston. The sales price was $50 million. The portfolio consists of an 88,000-square-foot facility in Taunton, located south of Boston, and a 104,380-square-foot structure in Haverhill, a northern suburb of the state capital. Both buildings were fully leased at the time of sale. Chris Skeffington of CBRE represented Marcus Partners in the transaction. The buyer was a fund backed by Ares Real Estate.

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AcquisitionsMultifamilyNew YorkNortheast

Marcus & Millichap Brokers $10.8M Sale of Historic Brooklyn Apartment Building

by Taylor Williams

NEW YORK CITY — Marcus & Millichap has brokered the $10.8 million sale of a 101-unit historic apartment building located in the Prospect-Lefferts Gardens neighborhood of Brooklyn. The six-story, elevator-served building at 275 Linden Blvd. was originally constructed in 1930. Information on floor plans and amenities was not disclosed. Shaun Riney and Daniel Greenblatt of Marcus & Millichap represented the undisclosed seller in the transaction. Seth Glasser, also with Marcus & Millichap, procured the buyer, a California-based family office.

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AcquisitionsNew JerseyNortheastRetail

Goldstein Group Arranges Sale of 68,000 SF Retail Property in Wayne, New Jersey

by Taylor Williams

WAYNE, N.J. — Locally based brokerage firm The Goldstein Group has arranged the sale of a 68,000-square-foot retail property the Northern New Jersey community of Wayne. The property is located at 465-479 U.S. Route 46 and comprises a 50,000-square-foot space that was formerly occupied by Bloomingdale’s Furniture and an 18,000-square-foot space leased to The Suit Store. C.J. Huter, Marc Palestina and Roy Paret of The Goldstein Group represented the seller, a group of limited liability companies, in the transaction. The buyer was an entity doing business as GCL Investment LLC.

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Brickworks
AcquisitionsDevelopmentMixed-UseNorth CarolinaSoutheast

Foundry Brokers Sale, Facilitates Mixed-Use Rezoning of 95 Acres in Durham

by Abby Cox

DURHAM, N.C. — Foundry Commercial has facilitated the acquisition and rezoning of a 95-acre tract in Durham for the development of Brickworks, a planned mixed-use development. The Durham City Council approved the rezoning ordinance in January, which will transform a former brick factory into a residential and commercial area. Charlotte-based SpaceCraft will serve as the master developer for the project. David Batten and Geoff Loftin of APG Advisors represented the seller in the transaction. Upon completion of the project, Brickworks will include 1,880 residential units and 49,500 square feet of commercial space. Construction of the multiphase project is expected to take place over a five-year period. One-third of the site is slated for Phase I of Brickworks, which will include a combination of apartments, townhomes and retail space. Homes will range from studio units to three-bedroom layouts, with 5 percent of the residences set aside for families earning 60 percent or less of the area median income (AMI). Public spaces like sports fields, biking and walking trails and preserved woodlands and wetlands will also be accessible at the development.

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oasis-naples
AcquisitionsFloridaMultifamilySoutheast

Excelsa Properties Acquires 216-Unit Multifamily Community in Naples, Plans $7M Overhaul

by Abby Cox

NAPLES, FLA. — Excelsa Properties has acquired Oasis Naples, a 216-unit garden-style multifamily property located at 2277 Arbour Walk Circle in Naples. The buyer purchased the property on behalf of Excelsa’s US Real Estate II LP fund and a co-investment vehicle related to Fund II LP, which are both managed by Excelsa. Built in 1992, Oasis Naples offers one- and two-bedroom floorplans ranging in size from 762 square feet to 1,012 square feet across18 residential buildings. Amenities at the property include a swimming pool, lounge areas, coffee station and a 24-hour fitness center. Excelsa plans to invest roughly $7 million to enhance the property’s appeal and performance. This marks the seventh multifamily property to be acquired through Excelsa’s US Real Estate II LP fund and the 20th multifamily acquisition across its portfolios.

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Sunlake-North
AcquisitionsFloridaMultifamilySoutheast

Berkadia Arranges Sale of Build-to-Rent Development Site in Metro Tampa

by Abby Cox

LAND O’ LAKES, FLA. — Berkadia has arranged the sale of a 28.5-acre development site located within the master-planned community of Bexley in Land O’ Lakes, roughly 30 miles north of downtown Tampa. The Dinerstein Cos., in partnership with Maymont Homes, will design the site to offer a mix of two- and three-bedroom residences featuring private yards and attached garages. Amenities at the property, dubbed Sunlake North, will include a clubhouse, fitness center, resort-style swimming pool and various neighborhood parks. Sunlake Boulevard, which forms the site’s eastern boundary, is scheduled for a future extension that will connect the development to the new Moffitt Cancer Center Pasco Life Sciences Campus and the Angeline master-planned community. Preleasing at the development is expected to begin in late spring 2026, with the first homes available for move-in by the fourth quarter of that year.

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Wallace-Crossing
AcquisitionsLoansNorth CarolinaRetailSoutheast

MMCC Arranges $3M Acquisition Financing for Wallace Crossings Shopping Center in North Carolina

by Abby Cox

WALLACE, N.C. — Marcus & Millichap Capital Corp. (MMCC) has arranged $3 million in acquisition financing for Wallace Crossings, a 66,000-square-foot shopping center located in Wallace. The 10-year loan includes a 6.3 percent interest rate with a 30-year amortization period and a 73 percent loan-to-value. Built in 1991, the center is anchored by U-Haul and Ollie’s Bargain Outlet. Additional tenants include Hardee’s, KFC, GoGas and a CashPoints ATM, according to LoopNet Inc. Garrett Fierstein of MMCC secured financing with a local credit union on behalf of a private client.

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