NORTH LAS VEGAS, NEV. — NewPoint Real Estate Capital has provided a $73.4 million Freddie Mac loan to finance the purchase of a garden-style multifamily property in North Las Vegas. The five-year, fixed-rate loan includes full-term interest-only payments and a 35-year amortization schedule. John DeWitt of NewPoint originated the loan. The sponsor, a repeat Freddie Mac and NewPoint borrower, purchased the 498-unit asset and plans to implement an extensive improvement plan over the first four years of the loan. Built in two phases in 2007 and 2008, the property offers one-, two- and three-bedroom apartments with in-unit washers/dryers, stainless steel appliances, central air conditioning and private balconies for patios. Community amenities include two swimming pools, a clubhouse and fitness center, playgrounds, a pet area, business center, garage and both covered and open parking.
SEATTLE — The Simon | Anderson Multifamily Team at Kidder Mathews has arranged the $19 million sale of Cornelius Apartments, located at 306 Blanchard St. in Seattle’s Belltown neighborhood. Dylan Simon, Jerrid Anderson, Matt Laird and JD Fuller of Simon | Anderson Multifamily represented the undisclosed seller in the deal. The name of the buyer was not released. Built in 1925 as a hotel, the nine-story building features 137 apartments, averaging 455 square feet.
WINDSOR, COLO. — MAG Capital Partners has purchased an industrial complex at 9952 Eastman Park Drive in Windsor in a sale-leaseback with Kodak Moments, a business unit of Kodak Alaris Holdings Limited, for an undisclosed price. Kodak Moments will continue to occupy the 305,984-square-foot property, which has housed its operations since 1970. Mark West and Sam Koziol of JLL represented the seller in the sale-leaseback transaction. Terms of the sale were not released.
WINCHESTER, CALIF. — SRS Real Estate Partners has arranged the sale of a three-tenant retail building within French Valley Marketplace at 35974 Winchester Road in Winchester. A Southern California-based private developer sold the asset to a La Jolla, Calif.-based private investor for $5.9 million. The 7,226-square-foot property is occupied by Panera Bread and Toro Sushi on long-term absolute triple-net leases. The asset also has one available unit. Matthew Mousavi, Patrick Luther and Jack Cornell of SRS Capital Markets represented the seller in the transaction.
MINNEAPOLIS — CBRE has arranged the sale and acquisition financing for a 220,244-square-foot, four-property industrial portfolio in metro Twin Cities. An undisclosed buyer purchased the portfolio from Big River Real Estate for $25.2 million. CBRE’s Bentley Smith, Judd Welliver, Zach Graham, Ryan Bain, Joe Horrigan and Michael Caprile represented the seller. Billy Mork and Mike Vannelli of CBRE arranged a $15 million loan on behalf of the buyer that features a five-year term, fixed interest rate and full-term interest-only payments. The properties include 1971 Seneca Road in Eagan, 1420-1464 Cliff Road in Burnsville, 3830 Cheatham Ave. in Minneapolis and 1441 First Ave. NW in New Brighton. All of the assets were at least 94 percent leased at the time of sale.
INDIANA — Marcus & Millichap has brokered the $7.4 million sale of a portfolio with 76 apartment units and three retail spaces in Hartford City, Spiceland, Knightstown and Rushville. The four properties were built between 2017 and 2021. Jack Friskney, Aaron Kuroiwa and Austin Meeker of Marcus & Millichap represented the seller, KDC Investments, and procured the buyer, PRE/3.
HILLIARD, OHIO — Industrial Realty Group LLC, Provider Real Estate Partners and DW Real Estate Partners LLC have acquired Hilliard Commerce Center in Hilliard, just northwest of Columbus. The 177,680-square-foot industrial property sits on 18.6 acres. The partnership plans to improve the facility with exterior upgrades, repairs to the existing structure and demolition of inefficient space. Nick Tomasone of CBRE is handling leasing.
ORLANDO, FLA. — Colliers has negotiated the $46.3 million sale of a 168.3-acre site on Wetherbee Road near Orlando International Airport. Orlando Utilities Commission sold the parcel on the south side of the city to developer Seefried Industrial Properties and its equity partner Clarion Partners. Joe Rossi, Lee Morris, Jeff Morris and Bret Felberg of Colliers represented the seller in the land transaction. Seefried was self-represented in the deal and has selected Morris to lease the development, which is dubbed Orlando Infill Logistics Center. The project will span 1.5 million square feet of new development across a maximum of nine buildings. Seefried plans to begin construction in the first quarter on the first three buildings, which are being developed on a speculative basis. Build-to-suit opportunities are also being entertained at the site, according to Colliers. Orlando Infill Logistics Center will feature up to 1,500 automobile parking spaces and 600 trailer spaces at full build-out.
ASHEVILLE, N.C. — An affiliate of Lone Star Funds has sold The Lofts at Reynolds Village, a mixed-use development located at 61 N. Merrimon Ave. in Asheville. The property includes 201 apartments and 63,000 square feet of ground-level retail space. Baltimore-based Continental Realty Corp. is purchasing the property from Lone Star Real Estate Fund VI LP for an undisclosed price. Walker & Dunlop represented Lone Star, which structured the deal as a sale of REIT stock, in the transaction. Built in 2010, The Lofts at Reynolds Village features one-, two- and three-bedroom apartments, as well as a pool, onsite property manager, business center, lounge, sauna and a spa, according to Apartments.com.
built retail property located at 1186 S. Main St. in Kernersville, about 20 miles west of Greensboro, N.C. Automotive services firm Firestone, a subsidiary of Bridgestone Retail Operations LLC, fully occupies the 5,798-square-foot property on a 15-year absolute triple-net lease. Don McMinn of Marcus & Millichap’s Atlanta office represented the seller, a North Carolina-based developer, in the transaction. The buyer was also not disclosed. Donald Gilchrist served as Marcus & Millichap’s broker of record in North Carolina for the deal. “The Firestone closing demonstrates the growing wave of private capital flowing into the net-lease market, fueled by the passage of the ‘Big Beautiful Bill,’ improving confidence and the prospect of interest rate cuts,” says McMinn. “We expect this momentum to carry into the second half of 2025, driven by lower interest rates, increased 1031 exchange activity and stronger deal flow.”